According to a new report, published by KBV research, The Global Digital Image Processing Market size is expected to reach $19.6 billion by 2030, rising at a market growth of 19.1% CAGR during the forecast period.
The Visual Product Search segment would witness a CAGR of 19.6% during (2023 - 2030). The growing demand for visual project search within the digital image processing market signifies an increasing need for efficient and accurate image-based search and retrieval systems. Visual project search involves the capability to search, identify, and retrieve visual content or projects based on visual similarity rather than relying solely on text-based queries or metadata. Hence, the demand for accurate and precise images drives the segment's growth.
The Software segment is leading the Global Digital Image Processing Market by Component in 2022, thereby achieving a market value of $137.4 billion by 2030. The surge of need for image processing software solutions across diverse industries, progress in software technology, and the adaptability and versatility of software-based solutions to fulfill a broad spectrum of image-processing requirements contribute to this phenomenon. Additionally, the software segment is growing due to the integration of AI and ML algorithms, which have further enhanced the capabilities of image processing software, making it a preferred choice for businesses and organizations seeking efficient and customizable solutions for their image-processing requirements.
The Automobile & Transportation segment is experiencing a CAGR of 20.5% during (2023 - 2030). The automobile and transportation sector has experienced a notable surge in the demand for digital image processing technologies due to advancements in safety, automation, and enhanced user experiences. Digital image processing has become a pivotal component in various applications within the automotive industry, driving innovation and transforming traditional functionalities. Hence, the requirement of safety in automobiles is driving the segment demand.
The North America region dominated the Global Digital Image Processing Market by Region in 2022 thereby, achieving a market value of $7.1 billion by 2030, growing at a CAGR of 18.4 % during the forecast period. The Asia Pacific region is experiencing a CAGR of 20.1% during (2023 - 2030). Additionally, The Europe region would witness a CAGR of 18.7% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/digital-image-processing-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of NVIDIA Corporation, Canon, Inc., Samsung Electronics Co., Ltd. (Samsung Group), Panasonic Holdings Corporation, Cognex Corporation, Teledyne Technologies, Inc., IBM Corporation, Microsoft Corporation, Nikon Corporation, Seiko Epson Corporation.
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