Asia-Pacific AI in image recognition market is estimated to grow significantly at a CAGR of more than 29% during the forecast period. The major countries which will contribute to the market include China, India, and Japan. China is the biggest player in AI in the image recognition market. The market in the region is largely driven by the investment from the AI companies and a significant rise to the big data. A large amount of data generation enables AI systems to create more sophisticated insights, thus, offering companies to reduce costs, scale operations, improve productivity and enhance more targeted products and services to consumers. Owing to the increasing popularity of social media platforms in the region, image data has been growing significantly, which in turn is driving the demand for AI-based image recognition platforms in the region.

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The market is segmented on the basis of product type and end-user. Based on the product type, the market is bifurcated into hardware and software. The market for software is growing owing to the increasing demand for highly accurate facial analysis on video and images. Based on end-user, the market is segmented into automotive, BFSI, healthcare, security, and retail. Growing adoption of image recognition software for security as well as customer identification is the most common factor contributing to the growth of the BFSI segment.

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Asia-Pacific AI in Image Recognition Market – Segmentation

By Product Type

• Hardware
• Software

By End-User

• Automotive
• BFSI
• Healthcare
• Security
• Retail

Asia-Pacific AI in Image Recognition Market-Regional  

• China
• Japan
• India
• Rest of Asia-Pacific

Company Profiles

• Artivatic Data Labs Pvt. Ltd.
• Automation Anywhere, Inc.
• Fujitsu Ltd.
• IBM Corp.
• iFlytek
• Lpixel, Inc.
• Megvii
• SenseTime
• ViSenze Pte Ltd.
• YITU Technologies

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