Pune, India, Nov. 07, 2023 (GLOBE NEWSWIRE) -- According to a new report on “Image Analysis Software Market Size and Forecast (2021–2028), Global and Regional Share, Trends, and Growth Opportunity Analysis – by Deployment Type (On-Premises and Cloud), Image Dimension (2D, 3D, and 4D), and Industry Vertical (Healthcare and Life Science, Manufacturing, Academia, Minerals, Metals and Oil, and Others)” the market in terms of revenue was estimated to be worth $3.97 billion in 2021 and is poised to reach $7.67 billion by 2028, growing at a CAGR of 9.9% from 2021 to 2028.
The growth of the image analysis software market is driven by a growing demand for image analysis-enabled security applications and products and an increasing demand for image analysis in the automotive industry. However, the emergence of image analysis software for ensuring public and workplace safety.
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Global Image Analysis Software Market Scope:
| Report Coverage | Details |
| Market Size Value in | US$ 3.97 billion in 2021 |
| Market Size Value by | US$ 7.67 billion by 2028 |
| Growth rate | CAGR of 9.9% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| Segments covered | Deployment Type, Image Dimension, Industry Vertical, and Geography |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Visual AI allows new and experienced users to effortlessly construct and deploy accurate and explicable machine learning models with photos through community hardware. Computer vision will enable users to manipulate pictures as they would any other data type. Enterprise AI systems automate the preparation, selection, and training of a wide range of cutting-edge deep learning models so that the optimal deployment model may be recommended. As social separation becomes the new normal, watching and monitoring people's gatherings and movements are becoming more important than ever. Standard Operating Procedures (SOPs) must be implemented and tracked in real-time by businesses. Employees can maintain safe, specified distances from one another throughout shifts while following conventional practices due to computer algorithms that evaluate data from on-site video cameras. Retailers can utilize AI and machine learning tools to keep track of the distances between their warehouse employees. When a divergence from typical behavior is detected, these tools issue real-time alerts, which, in turn, is likely to gain momentum and propel the image analysis software market growth during the forecast period.
In North America, particularly in the US, most businesses are developing strategies to increase agility and flexibility, support expansion, and minimize complexity in hybrid cloud migration. Virtual networks that support applications and workloads across physical infrastructure and multi-cloud environment have replaced the traditional on-premises physical servers.
Image analysis software and algorithms are an important part of modern healthcare. The medical industry is completely dependent on image analysis tools since they have made the diagnosis of tumors and other diseases simpler. The imaging techniques have undergone notable developments in the last few years; image analysis software products that are currently available in the market allow users to access data remotely, further enabling ease of data sharing among practitioners. Computed tomography, magnetic resonance imaging, ultrasound, positron emission tomography, and coupled hybrid technologies such as PET-CT and PET-MRI image fusion are necessary for the effective functioning of the medical industry. According to several organizations and surveys, in 2019, the US, Canada, and Mexico each had about 42.6, 52.3, and 6.12 CT Scan devices per one million people. respectively. Hence, such factors drive the growth of the image analysis market across the region.
Global Image Analysis Software Market: Deployment Type Overview
Based on deployment type, the image analysis software market is bifurcated into on-premises and cloud. The on-premises segment dominates the image analysis software market due to intense penetration in the healthcare and life science industry. The laboratories, academia, and manufacturing sectors preferred the on-premises solution due to its enhanced security. However, increasing demand for cloud computing solutions and rising security in cloud platforms are driving the image analysis software market growth for the cloud segment.
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Global Image Analysis Software Market: Competitive Landscape and Key Developments
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; and V7 Ltd are among the key players profiled during the study of the image analysis software market. In addition, several other essential market players were studied and analyzed to get a holistic view of the image analysis software market and its ecosystem.
Recent Developments:
- In 2021: Imaris launched Version 9.8 - Object visualization on extended sections, as well as raw data, has been added by the company, opening up new means of validating detection and editing in Imaris.
- In 2021: The Aphelion Imaging Software Suite was updated to version 4.5.0. The following new features are included in this release: Annotate Deep Learning Additional features in the Aphelion GUI
- In 2021: CLEMEX VISION 9 RELEASED- now includes unique instructions for martensitic, ferritic, and austenitic grains, as well as ML capabilities.
- In 2021: Leica Microsystems acquired the Aivia, a leading AI-enabled 3D microscopy solution provider company. Through this company enhanced its presence and position in the image analysis market.
Go through further research published by The Insight Partners:
Image Recognition in Retail Market - Global Analysis and Forecast to 2030
Image Signal Processor Market - Global Analysis and Forecast to 2030
Multimodal Image Fusion Software Market - Global Analysis and Forecast to 2028
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