Skip to main content
  1. Market Insights
  2. Technology
  3. Artificial Intelligence
  4. Computer Vision

Image Recognition - North America

North America
  • The market size in the Image Recognition market is projected to reach US$4.18bn in 2024.
  • The market size is expected to show an annual growth rate (CAGR 2024-2030) of 8.71%, resulting in a market volume of US$6.89bn by 2030.
  • In global comparison, the largest market size will be United States (US$3.66bn in 2024).

Definition:
Image recognition, as part of computer vision, refers to the technology that enables machines to analyze and understand visual data such as images and/or video frames. It involves the use of algorithms and deep learning models to identify objects, scenes, patterns, and other visual elements within images. By extracting features and patterns from the input data, image recognition systems can classify and categorize images based on the content within these images. The applications for this technology are diverse and broad and include the areas of object detection, image classification, medical imaging, autonomous vehicles, and augmented reality and make it possible for machines to comprehend and interpret visual information much like humans do.

Additional Information:

The market comprises two key performance indicators: market sizes and market sizes by industry. Market sizes are generated by the funding amount of Computer Vision companies. Key players of the market include companies such as Nvidia, Intel, and IBM.

For more information on the data displayed, use the info button right next to the boxes.

In-Scope

  • Technologies that use artificial intelligence and machine learning algorithms to analyze and interpret digital images, such as object detection, pattern recognition, and facial recognition
  • Products and services that use image recognition technology, such as security cameras, self-driving cars, and medical imaging equipment.

Out-Of-Scope

  • Technologies that do not rely on digital images, such as text-based information or audio signals
  • Products and services that do not use image recognition technology, such as physical goods or traditional customer service support.
Artificial Intelligence

Artificial Intelligence

Related markets:
Artificial Intelligence: in-depth market analysis - Cover

Market Insights report

Artificial Intelligence: in-depth market analysis

Study Details
    methodology

    Download PDF

    FAQs and more info on the methodology

    Market Size

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Artificial Intelligence market in North America is experiencing subdued growth in the Image Recognition and Computer Vision markets. Factors such as the slow adoption of advanced technologies and limited awareness among consumers are impacting the market's growth rate. However, increasing investments and developments in the field are expected to drive growth in the near future.

    Customer preferences:     With the growing popularity of e-commerce and online shopping, there has been a significant rise in demand for image recognition technology in the North American market. This trend is fueled by the increasing use of visual search and recommendation engines, which allow consumers to easily find and purchase products online. Moreover, the rise of social media platforms has also led to an increased use of image recognition for personalized advertising and targeted marketing. As the region's population becomes more digitally-savvy, the demand for innovative and seamless shopping experiences is expected to drive the growth of the image recognition market in North America.

    Trends in the market:     In North America, the Image Recognition Market of the Computer Vision Market within the Artificial Intelligence Market is experiencing a surge in demand for facial recognition technology in various industries, such as retail and security. This trend is driven by the need for enhanced customer experience and improved security measures. Additionally, there is a growing interest in using image recognition for inventory management and product recommendation systems. As this technology continues to advance and become more accessible, it is expected to have a significant impact on the way businesses operate and interact with their customers. This trend is likely to continue to shape the market and create opportunities for industry stakeholders to innovate and stay ahead of the competition.

    Local special circumstances:     In North America, the Image Recognition Market of the Computer Vision Market within the Artificial Intelligence Market is driven by the high adoption of advanced technologies and the presence of major market players. Additionally, the stringent regulations and policies regarding data privacy and security have a significant impact on market growth. The region also benefits from a highly skilled workforce and a strong research and development sector, which has led to the development of innovative and cutting-edge image recognition solutions.

    Underlying macroeconomic factors:     The Image Recognition Market of the Computer Vision Market within the Artificial Intelligence Market in North America is heavily influenced by macroeconomic factors such as technological advancements, government policies, and investment in research and development. Countries with strong investment in AI technology and supportive regulatory environments are experiencing faster market growth compared to regions with limited government funding and regulatory challenges. Additionally, the increasing adoption of AI technology in various industries, such as healthcare and automotive, is driving the demand for image recognition solutions.

    Global Comparison

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Methodology

    Data coverage: The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the funding values from different industries for the market.

    Modeling approach / Market size:Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports, funding data, and third-party data. In addition, we use relevant key market indicators and data from country-specific associations such as GDP, number of internet users, number of secure internet servers, and internet penetration. This data helps us estimate the market size for each country individually.

    Forecasts:In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are the level of digitalization, the number of secure internet servers, and the revenue of the Public Cloud market.

    Additional Notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russian-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the market is updated on an ad-hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is weighted for representativeness.

    Technology

    Access more Market Insights on Technology topics with our featured report

    Artificial Intelligence: in-depth market analysis - BackgroundArtificial Intelligence: in-depth market analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Explore more high-quality data on related topic

    Artificial intelligence (AI) worldwide - statistics & facts

    Artificial intelligence evokes images of supercomputer assistants, machines that can think creatively, and, to some, scenes from their favorite sci-fi movie. The reality, despite not being as futuristic, is not far off from this. AI refers to the ability of a computer or machine to mimic the competencies of the human mind, which often learns from previous experiences to understand and respond to language, decisions, and problems. The market for AI technologies is vast, amounting to around 200 billion U.S. dollars in 2023 and is expected to grow well beyond that to over 1.8 trillion U.S. dollars by 2030.
    More data on the topic
    Size of the AI market in 2024
    184bn U.S. dollars
    Generative AI market size 2023
    44bn U.S. dollars
    Largest ML market globally
    United States

    Explore more high-quality data on related topic

    Artificial intelligence (AI) in the U.S. - statistics & facts

    Artificial intelligence (AI), the technology that allows digital computers or computer-controlled robots to perform tasks more commonly associated with intelligent beings, has been leaping into the limelight following the release of a wide variety of Generative AI models in 2023. The United States, being the largest economy in the world, has a natural advantage. Although human-like androids such as those portrayed in the science fiction movie Blade Runner are still far from reality, applications of AI such as smartphone virtual assistants and industrial robots are already widespread in U.S. society. The industry’s powerful ability to improve efficiency and increase productivity has made it of strategic importance to U.S. industries and government, both of which push the U.S. lead in the AI race.
    More data on the topic
    AI market size U.S. 2023
    87bn USD
    Growth of the AI market in the United States 2023
    64%
    Generative AI market size U.S. 2023
    16bn USD

    Contact

    Get in touch with us. We are happy to help.