Dublin, Feb. 07, 2020 (GLOBE NEWSWIRE) -- The "North American AI in Image Recognition Market 2019-2025" report has been added to ResearchAndMarkets.com's offering.

The North American AI in image recognition market is estimated to grow significantly at a CAGR of 28.9% during the forecast period. This report includes the analysis of two major countries; the US and Canada.

The report covers:

• Comprehensive research methodology of the North American AI in image recognition market.
• A detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the North American AI in image recognition market.
• Insights about market determinants which are stimulating the North American AI in image recognition market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.

The factors that are contributing significantly to the market growth include R&D and high expenditure by the government as well as private organizations in AI technology. The region has well-developed ICT infrastructure and has witnessed huge adoption of a large number of connected devices. The presence of major AI players in North America which include Microsoft, IBM, and Google further gives a boost to the growth of the market in the region. Moreover, high internet penetration is one of the major factors that is augmenting market growth in North America.

Canada is emerging as one of the key players in AI technology with the presence of some inventors of AI technology, and Waterloo is one of the major AI development hubs in Canada. There are more than 90 companies in Waterloo's AI cluster and the number is rapidly growing. Waterloo focuses on working with industry and with academic partners for developing and deploying AI in the clinical space, or for climate analysis, Image Recognition, automotive, aerospace, or other sectors.

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.

There are various prominent players that are significantly contributing to the AI in image recognition market that include Amazon Web Services Inc., Google Inc., IBM Corp., Microsoft Corp., Cortica, and others. These players adopt various strategies for gaining their position in a highly competitive market. For instance, in November 2018, IBM Corp. and IIT (Indian Institute of Technology) Delhi declared that the university will join the AI Horizons Network as part of a multi-year research collaboration on AI. The objective of this partnership is to discover new AI techniques that can support organizations to make informed decisions with their AI systems.

Key Topics Covered

1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography

2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
2.3. Rules & Regulations

3. Competitive Landscape
3.1. Company Share Analysis
3.2. Key Strategy Analysis
3.3. Key Company Analysis
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments

4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities

5. Market Segmentation
5.1. North American AI in Image Recognition Market by Product Type
5.1.1. Hardware
5.1.2. Software
5.2. North American AI in Image Recognition Market by End-user
5.2.1. Automotive
5.2.2. Banking, Financial Services and Insurance (BFSI)
5.2.3. Healthcare
5.2.4. Security
5.2.5. Retail

6. Regional Analysis
6.1. United States
6.2. Canada

7. Company Profiles
7.1. Aether, Inc.
7.2. Amazon Web Services, Inc.
7.3. Clarifai, Inc.
7.4. Google, LLC
7.5. IBM Corp.
7.6. MICRON Technology, Inc.
7.7. Microsoft Corp.
7.8. NVIDIA Corp.
7.9. Vee Technologies, Inc.
7.10. Xilinx, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/ge6m49

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