How Has the Image Processing Systems Market Size Evolved in Recent Years?
The image processing systems market has seen considerable growth due to a variety of factors.
• The market size for image processing systems has witnessed remarkable expansion in the recent past. It is projected to escalate from $15.33 billion in 2024 to $19.16 billion in 2025, experiencing a compound annual growth rate (CAGR) of 25.0%.
Various factors fueled this rise during the historical period, including the need for superior image processing services, AI and ML advancements applied to digital image processing, the growing call for automation, extensive growth of the automotive industry, and the broadening scope of augmented reality (AR) and virtual reality (VR) technologies.
What Is The Forecast For The Image Processing Systems Market Size?
The image processing systems market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for image processing systems is predicted to experience a substantial increase in the coming years, expanding up to $46.2 billion in 2029 with a compound annual growth rate (CAGR) of 24.6%.
This escalated growth in the forecast period is the result of the escalating demand for superior image identification and analytic technology, an increased mobile user rate, enhanced machine-learning and artificial intelligence acceptance, a rising requirement for quality checks, and widespread acceptance of cloud-based image processing services. Technological evolution, the merging of natural language processing (NLP), infusion of AI technology, improvements in camera systems, and hyperspectral imaging are the principal trends for the upcoming period.
What Are The Essential Drivers Behind The Growth Of The Image Processing Systems Market?
The surge in the need for facial recognition technology is predicted to spur the expansion of the image processing systems market. Facial recognition technology, a complex system, matches a human face seen in a digital image or video frame with a database. The popularity of this technology is increasing because it can measure facial characteristics and create a one-of-a-kind biometric pattern linked to a person's face. Image processing systems that analyze and manipulate images to capture facial characteristics are crucial in this technology, enabling identification and verification of people based on unique facial traits. The Liberty Investigates, a UK-based investigative journalism unit, reported in September 2023, in collaboration with the i Paper, a UK national newspaper, that last year, police performed over 85,000 real-time facial recognition searches. This number is more than triple that of 2021. Predictions for the first four months of this year suggest a total that might exceed 130,000, reflecting a 52 percent growth. Therefore, the booming demand for facial recognition technology is propelling the growth of the image processing systems market.
How Is The Global Image Processing Systems Market Divided Into Key Segments?
The image processing systems market covered in this report is segmented –
1) By Component: Software, Services
2) By Type: On-Premise, Cloud Based
3) By Application: Medical, Industrial, Military, Other Applications
4) By End-Use Industry: Healthcare, Automobile And Transportation, Banking, Financial Services, And Insurance (BFSI), Retail And E-Commerce, Other End-Use Industries
Subsegments:
1) By Software: Image Processing Software, Machine Vision Software, Image Editing Software, Image Analysis Software, Computer Vision Software
2) By Services: Integration Services, Consulting Services, Support And Maintenance Services
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What Trends Are Shaping The Image Processing Systems Market?
Leading corporations in the image processing systems market are perfecting image processing abilities by producing channel attention mechanism-oriented software like holographic digital image processing software. This software provides algorithms that turn 3D data into holographic displays, guaranteeing correct depiction of intricate shapes and textures for different applications. Specifically, in March 2023, WiMi Hologram Cloud Inc., a firm providing augmented reality solutions based in China, introduced a holographic digital image processing software influenced by visual saliency and channel attention mechanisms. The software boosts image processing for smart holographic systems and is applicable in diversified sectors such as face recognition, AR/VR, healthcare, smart cities, industrial inspection, agriculture, robotics, and security. Efficiency and precision in image processing is enhanced by the software through the use of attention mechanisms, encompassing channel attention and visual saliency.
Who Are the Key Players In The Image Processing Systems Market?
Major companies operating in the image processing systems market are:
• Delta Air Lines Inc.
• CARL ZEISS Industrielle Messtechnik GmbH
• Tech Mahindra Limited
• Alibaba Cloud
• Planar Systems Inc.
• Barco NV
• Datalogic Automation Srl
• Basler AG
• VisionTech Imaging Systems Inc.
• SCANLAB GmbH
• VisualEdge Technologies LLC
• IBG Automation GmbH
• ClearVision Technologies LLC
• GOPEL Electronic GmbH
• SharpSight Systems Inc.
• Wolfram Research Inc.
• Flatworld Solutions Pvt Ltd.
• PixelPerfect Imaging Solutions Inc.
• IMAGO Technologies GmbH
• UltraVision Systems Ltd.
• OpticView Technologies Inc.
• Silicon Software GmbH
• Logic Way Inc.
• ClarityTech Solutions Inc.
• PicturePerfect Solutions Inc.
• TrueFocus Imaging LLC
What Are The Regional Insights Into The Image Processing Systems Market?
North America was the largest region in the image processing Systems market in 2024. The regions covered in the image processing systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
