Global Image Analysis Software Market Forecast Report 2021-2028 - Emergence of Image Analysis Software for Ensuring Public and Workplace Safety - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Image Analysis Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Deployment Type, Image Dimension, and Industry Vertical" report has been added to ResearchAndMarkets.com's offering.

The global image analysis software market is expected to grow from US$ 3,970.93 million in 2021 to US$ 7,672.16 million by 2028; it is estimated to grow at a CAGR of 9.9% from 2021 to 2028.

AI is becoming the next frontier in digital transformation, and when integrated into processes, it can deliver value and impact across all facets of a company.

AWS, Microsoft, and Google are all aggressively investing in improving their image analysis software solutions to improve in-store and online retail performance. Due to the emergence of COVID-19, demand for cloud-based services has increased even more.

Intelligence Retail, a supplier of computer vision and AI for merchandising solutions, uses IBM's cloud and analysis solution, which includes cutting-edge Graphics Processing Units (GPUs), to help businesses increase sales, lower audit costs, improve performance, and increase customer loyalty.

For example, Trax and Google Cloud teamed in 2019 to use Google's cloud and edge computing technologies, as well as Trax's image recognition and machine learning capabilities, to successfully manage in-store inventory and every SKU on the shelf with actionable real-time insights. These strategies would promote the future growth of the image analysis market in the forecasted period.

APAC is highly affected by coronavirus due to many cases in China; the country is the most crucial manufacturer and industrial producer since it trades more manufacturing goods than any other country in the globe; it is also a world leader in several types of goods.

The study by CSIS has reviewed down estimates of the country's growth, and a drop was observed in 2020 in Gross Domestic Product (GDP). The other major economies outside of China have also been impacted by the pandemic, such as huge India, South Korea, Australia, and Japan, and are experiencing downward growth. However, the increasing number of COVID-19 cases and high death rates in countries such as India and various South East Asian countries have slightly affected the market growth in 2020.

The ongoing mobility restrictions, cancellation/postponement of various business conferences and events due to the COVID-19 outbreak have affected the overall market in this region. Since firms have started working from home, the demand for image analysis software market solutions has mounted gradually, even in the breakdown. Thus, this disruption has hardly affected the market growth.

Key Market Dynamics

Market Drivers

• Growing demand for image analysis-enabled security applications and products
• Increasing demand for image analysis in the automotive industry

Market Restraints

• High installation cost of image analysis solutions

Market Opportunities

• Increasing demand for cloud-powered image analysis solutions

Future Trends

• Emergence of Image Analysis software for Ensuring Public and Workplace Safety

Company Profiles

• ADCIS SA
• Bio-Rad Laboratories, Inc.
• Oxford Instruments
• Clemex Technologies, Inc.
• Media Cybernetics, Inc.
• MIPAR Software LLC
• Olympus Corporation
• Pax-it
• PerkinElmer, Inc.
• TissueGnostics GmbH
• Leica Microsystems GmbH
• MVTec Software GmbH
• Carl Zeiss AG
• Scale AI, Inc.
• Labelbox, Inc
• V7 Ltd

For more information about this report visit https://www.researchandmarkets.com/r/ioqu0v