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Image Recognition Market to Hit USD 123.97 Billion by 2030 growing at a CAGR of 15.5 percent

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Maximize Market Research has published a detailed analytical report on the Image Recognition Market.

PUNE, India, Aug. 22, 2024 /PRNewswire/ — Advancements in Artificial Intelligence and machine learning have made image recognition technology increasingly essential.  This technology impacts various industries, including security, retail, healthcare, and automotive. Image recognition enhances processes like facial recognition, automated checkouts, and autonomous vehicle navigation. In healthcare, For example, it analyzes medical images, including X-rays and MRIs, to identify abnormalities and support accurate diagnoses. This leads to earlier detection of diseases such as cancer, improving patient outcomes and treatment plans. The rapid development and integration of image recognition highlight its crucial role in driving future innovations and efficiencies, positioning it as a major force in technological progress.

 

Market Size in 2023

USD  45.21 Billion

Market Size in 2030

USD 123.97 Billion

CAGR

15.5 %

Forecast Period

2024-2030

Base Year

2023

Segment Covered

by Component

by Deployment Type

by Technology

by Application

by Industry Vertical

by Region

Drivers

●  Increased Adoption in Retail and E-commerce

●  Advancements in AI and Machine Learning

Restrain

●  Privacy and Security Concerns

●  Technological Limitations

Opportunities

●  Growth in Autonomous Vehicles

●  Development of Augmented Reality (AR) Applications

Report Coverage

Market Share, Size, and Forecast by Revenue | 2024−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.

Get your Sample PDF: https://www.maximizemarketresearch.com/request-sample/13650/ 

Top Image Recognition Trends: AR/VR Innovations, and Enhanced Privacy

Advanced real-time image recognition is expected to witness substantial growth in 2024, boosted by enhanced hardware and software capabilities. The market for this technology is growing rapidly due to increasing demand across various industries. Autonomous vehicles and security systems will rely heavily on image recognition for immediate and accurate insights. Augmented reality (AR) and virtual reality (VR) will leverage improved image recognition to offer more immersive and interactive experiences in the education and entertainment sectors. In healthcare, the technology is expected to boost diagnostic accuracy, facilitating faster disease identification and treatment planning. Retail and E-Commerce experienced significant innovations with advancements in virtual try-ons and real-time inventory tracking. Additionally, privacy-preserving techniques such as anonymization and federated learning address data security concerns. These trends underscore the technology’s growing impact and its important role in future advancements.

Image Recognition Market: Segmentation

The Global Image Recognition Market is segmented into Components which includes Hardware, Software, and Services. The Software segment dominated the Solutions segment of the Image Recognition Market in the year 2023 due to its rapid advancements in AI and machine learning. Enhanced algorithms and platforms for real-time image analysis provided superior accuracy and efficiency, driving widespread adoption across industries. This shift reflects the growing need for advanced software solutions to leverage image recognition technology effectively.

Regional Insight: North America region dominated the Image Recognition Market

North America region dominated the Image Recognition Market in the year 2023.

North America, led by the U.S. and Canada, excels in image recognition due to advanced technology infrastructure, significant AI investments, and a concentration of tech firms the region benefits from a high density of tech companies and startups that drive innovation and application in various sectors. For instance, in healthcare, image recognition is used for the early diagnosis of diseases through medical imaging. In retail, companies leverage it for enhanced customer experiences with visual search and personalized shopping recommendations. Additionally, in security, advanced image recognition systems are deployed for surveillance and identification purposes. These advantages enable rapid development and deployment of innovative image recognition technologies. Furthermore, North America’s strong investment environment supports ongoing research and development, fostering growth and advancements in the field. This combination of advanced infrastructure, significant financial backing, and a thriving tech ecosystem makes North America a leader in the image recognition market.

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Image Recognition Market: Segmentation

By Component          

HardwareSoftwareService

By Deployment Type

On-premiseCloud

By Technology          

Object RecognitionQR/Barcode RecognitionFacial RecognitionPattern RecognitionOptical Character Recognition

By Application           Scanning and Imaging

Security and SurveillanceImage SearchAugmented RealityMarketing and Advertising

By Industry Vertical 

IT and TelecomBFSIHealthcareRetail and E-commerceGovernmentMedia and EntertainmentTransportation and LogisticsManufacturingOthers

For Detailed Segment Analysis: Request a Sample Report

North America key players in the Image Recognition Market

Google LLC (USA)Amazon Web Services, Inc. (AWS) (USA)IBM Corporation (USA)Microsoft Corporation (USA)Apple Inc. (USA)Facebook, Inc. (Meta Platforms) (USA)NVIDIA Corporation (USA)Adobe Inc. (USA)Cognex Corporation (USA)Intel Corporation (USA)Qualcomm Technologies, Inc.( USA)Honeywell International Inc. (USA)PTC Inc. (USA)Xilinx, Inc. – San Jose, California, (USA)

Asia Pacific Giants in the Image Recognition Market

Samsung Electronics Co., Ltd.(South Korea)NEC Corporation (Japan)Alibaba Group (China)Huawei Technologies Co., Ltd. (China)Hitachi, Ltd. (Japan)

Europe’s Top Key Player in the Image Recognition Market

Siemens AG (Germany)

Maximize Market Research is leading Information Technology & Telecommunication Research firm, has also published the following reports:

AI Image Recognition Market:- The Image Recognition Market was valued at USD 45.21 billion in 2023. With an expected compound annual growth rate (CAGR) of 15.5% from 2024 to 2030, the market is projected to reach approximately USD 123.97 billion by 2030. The growth is driven by an increase in image data generation.

Global Emotion Detection and Recognition Market: – The Emotion Detection and Recognition Market size was valued at USD 17.41 Billion in 2023 and the total Emotion Detection and Recognition Market revenue is expected to grow at a CAGR of 32.41% from 2024 to 2030, reaching nearly USD 124.24 Billion. Enhancing Mental Healthcare with Emotion Recognition Software drives the Market Growth.

Gesture Recognition and Touchless Sensing Market: The Gesture Recognition and Touchless Sensing Market was valued at USD 25.34 billion in 2023. It is projected to expand at a compound annual growth rate (CAGR) of 23.5% from 2024 to 2030, reaching approximately USD 111.04 billion by 2030. Growth is driven by increasing applications in automation, consumer electronics, gaming, healthcare, and automotive sectors.

Global Face Recognition Terminal Market size is expected to reach nearly US $ 22.75 Bn by 2030 with the CAGR of 18.3% during the forecast period.

Global Traffic Sign Recognition System Market is expected to reach by 2026, at a CAGR of 3.8% during the forecast period.

Optical Character Recognition Market size was valued at USD 12.51 Billion in 2023 and the total Optical Character Recognition revenue is expected to grow at a CAGR of 15.2% from 2024 to 2030, reaching nearly USD 33.68 Billion by 2030.

Optical Character Recognition Market size was valued at USD 12.51 Billion in 2023 and the total Optical Character Recognition revenue is expected to grow at a CAGR of 15.2% from 2024 to 2030, reaching nearly USD 33.68 Billion by 2030.

Key Benefits for Stakeholders:

This report offers a comprehensive analysis of the Image Recognition market, combining both quantitative and qualitative insights. It covers segment analysis, current trends, market dynamics, challenges, and forecasts for the industry from 2024 to 2030.Utilizing Porter’s Five Forces framework, the report examines the power of buyers and suppliers, supporting stakeholders in making informed decisions and strengthening supplier-buyer relationships.A detailed look at market segmentation covers key opportunities within the Image Recognition sector.Major countries within each region are mapped according to their revenue contributions, highlighting their impact on the global market.Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

About Maximize Market Research:

Maximize Market Research is a multifaceted Market Research and consulting company with professionals from several industries. Some industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

Contact Maximize Market Research:

3rd Floor, Navale IT Park, Phase 2
Pune Banglore Highway, Narhe,
Pune, Maharashtra 411041, India
+91 9607365656
sales@maximizemarketresearch.com

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Safetyfirst Systems, LLC Provides Notice of Data Security Event

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PARSIPPANY, N.J., July 23, 2026 /PRNewswire/ — Safetyfirst Systems, LLC (“SFS”) is providing notice of a data security event that may involve information relating to certain individuals. While SFS is not aware of any misuse of information associated with this event, it is providing notice to potentially affected individuals out of an abundance of caution.

On January 19, 2026, SFS identified suspicious activity involving a limited portion of its server environment. Upon discovering the activity, SFS quickly took steps to secure its systems, notified federal law enforcement, engaged leading third-party forensic specialists, and performed a detailed investigation into the nature, scope, and impact of the activity. The investigation determined that an unauthorized actor accessed and/or acquired certain files from limited SFS systems between January 16, 2026, and January 19, 2026. SFS then conducted a comprehensive review of the affected files to determine what information may have been involved and identify the individuals to whom the information relates. The review has recently concluded, and SFS is providing this notification to potentially impacted individuals out of an abundance of caution. Although the types of information vary by individual, the affected information may include names, Social Security numbers, and driver’s license numbers.

Protecting the privacy and security of the information entrusted to SFS is a responsibility the company takes very seriously. In response to this event, SFS promptly strengthened security measures, continues to enhance its technical safeguards and monitoring capabilities, and is reviewing existing policies and procedures to further protect against similar incidents in the future. SFS is also providing notice to potentially affected individuals and, where required, appropriate regulatory authorities.

Although SFS is unaware of any misuse of personal information impacted by this event, individuals are encouraged to remain vigilant against events of identity theft by reviewing account statements, explanation of benefits, and monitoring free credit reports for suspicious activity and to detect errors. Any suspicious activity should be reported to the appropriate insurance company, health care provider, or financial institution.

Individuals seeking additional information regarding this event can contact SFS’s dedicated assistance line at 1-833-289-5523 between the hours of 7:00 a.m. to 7:00 p.m. Eastern time, Monday through Friday, excluding holidays. Individuals may also write to SFS at PO Box 101, 3299 US Highway 46, Parsippany, NJ 07054-9998.

 

View original content:https://www.prnewswire.com/news-releases/safetyfirst-systems-llc-provides-notice-of-data-security-event-302831894.html

SOURCE Safetyfirst Systems, LLC

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Sunrate and Mastercard Release White Paper on Agentic AI and the Future of B2B Global Payments

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SHANGHAI, July 24, 2026 /PRNewswire/ — Sunrate, the global payment and treasury management platform, and Mastercard, a global technology company in the payments industry, unveiled a joint white paper, Beyond Automation: Defining Agentic Global Payments, at the 2026 World Artificial Intelligence Conference (WAIC).

Among the first reports in the payments industry to examine the impact of Agentic AI on B2B cross-border payments, the white paper provides a comprehensive framework for understanding how AI agents are reshaping enterprise payment operations. It proposes that cross-border payments are evolving beyond digitisation and automation into a new stage: Autonomy—where AI agents with reasoning, planning, and execution capabilities can independently orchestrate and optimise end-to-end payment and treasury workflows within defined governance frameworks.

As businesses expand across borders, B2B cross-border payments continue to be constrained by fragmented workflows, disconnected systems, foreign exchange inefficiencies, rising compliance requirements, and complex reconciliation processes. While traditional automation improves individual tasks, the white paper demonstrates that Agentic AI represents a fundamental shift by enabling intelligent agents to coordinate entire payment journeys across systems, counterparties, and approval workflows.

Drawing on Sunrate’s global payment infrastructure and AI-native product capabilities, together with Mastercard’s expertise in secure payment networks and data intelligence, the white paper defines Agentic Global Payments — a new category of AI-native global payment infrastructure built to automate and manage complex enterprise workflows.

The report identifies 16 major pain points across the B2B payment lifecycle and outlines 13 high-value AI use cases spanning supplier onboarding, accounts payable and receivable, virtual commercial cards, payment routing, foreign exchange management, compliance screening, fraud detection, reconciliation, and conversational operational support. It also demonstrates how AI agents can automate complex workflows—from extracting information across multiple document formats and conducting compliance checks to initiating payments, optimising FX execution, and completing reconciliation—while operating within enterprise governance and control frameworks.

The white paper further highlights that trusted adoption of agentic payments depends on more than technological capability. It identifies governance, transparency, security, and ecosystem collaboration as essential foundations for enterprise deployment, supported by frameworks such as Know Your Agent (KYA), payment tokenisation, auditability, and cross-industry interoperability.

Sunrate.AI portfolio currently includes the Payment Agent, FX Agent, Compliance Agent, Onboarding Agent, and Chat Agent, designed to help enterprises automate and optimise critical payment and treasury processes while maintaining compliance and operational control.

Mastercard has also been actively building the foundations for trusted agentic commerce – combining AI capabilities with verifiable authorisation, clear accountability and proven payments security. Its work in this area, including Agent Pay (alongside Agent Pay for Machines) and Verifiable Intent, are proof points in how Mastercard is enabling AI to participate in commerce safely and transparently. 

“Our mission is to make global payments seamless, compliant, and intelligent,” said Paul Meng, Co-founder and CEO of Sunrate. “As businesses continue expanding internationally, AI agents will fundamentally reshape how enterprises manage global payments—enabling smoother capital flows, reducing operational friction, and embedding real-time intelligence into every payment decision. This white paper represents an important step in helping the industry understand how Agentic AI can be deployed responsibly at enterprise scale.”

“Agentic commerce is changing how businesses make and execute payment decisions, but speed without accountability creates new categories of risk,” said Anouska Ladds, Executive Vice President, Commercial & New Payment Flows, Asia Pacific, Mastercard. “As AI starts to act on behalf of businesses, autonomous payment decisions need a clear, auditable chain of identity, intent and action. That’s what allows organisations to delegate with genuine confidence — and what will determine whether agentic commerce scales past pilots.”

Released under WAIC 2026’s theme, “Intelligent Partners, Co-creating the Future,” the white paper provides business leaders with practical guidance on adopting AI-driven payment capabilities, covering implementation approaches, governance considerations, and real-world enterprise applications.

By combining Sunrate’s expertise in global payments and treasury management with Mastercard’s trusted payment infrastructure and network capabilities, the collaboration reflects a shared commitment to accelerating the next generation of intelligent, secure, and autonomous B2B global payments.

Click here to check the white paper.

About Sunrate

Sunrate is a leading global payment and treasury management platform for businesses worldwide. Founded in 2016, Sunrate has enabled companies to operate and scale both locally and globally in 190+ countries and regions with its cutting-edge infrastructure, global network, and unified solutions.

Sunrate operates through offices across key markets, including Singapore, Kuala Lumpur, Jakarta, Hong Kong, Shanghai, and London. The company partners with the top global financial institutions, such as Citibank, Standard Chartered, Barclays, J.P. Morgan. Sunrate is also the principal member of Mastercard and Visa. To learn more about Sunrate, visit https://www.sunrate.com/.

About Mastercard

Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential. 

www.mastercard.com

SOURCE Sunrate

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JAMS Launches AI for Enterprise Job Scheduling: JAX and JAMS MCP

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A new AI agent and an open-standard connector let IT teams query, diagnose, and manage automation in plain language, on the model they choose, with operational data able to stay onshore inside their own network

SYDNEY, July 24, 2026 /PRNewswire/ — JAMS Software, an orchestration solution for scheduled and event-driven automation, today announced the general availability of two AI capabilities for enterprise job scheduling: JAX, an AI agent built into the JAMS Web Client, and JAMS MCP, a connector built on the open Model Context Protocol standard that brings JAMS into external AI coding tools. Both capabilities ship at no additional cost as part of JAMS Web.

Automation environments grow faster than the teams that run them. Jobs multiply across SQL Server, Azure Data Factory, Airflow, SAP, JDE, and Banner, and when one fails, finding the root cause often means searching several consoles at once, frequently outside business hours. At the same time, IT leaders carry pressure to adopt AI while staying accountable for where operational data goes. JAX and JAMS MCP close both gaps together.

Full details on how JAX and JAMS MCP work, including the control model behind every action, are available at jamsscheduler.com/product/ai.

JAX is an AI agent that runs inside the JAMS Web Client. It finds jobs, troubleshoots failures, and answers how-to questions in plain language, with each response grounded in the JAMS user guide and checked against a built-in glossary. JAX acts only when a user asks it to. Reads flow freely, and every write action pauses for the user’s explicit approval before it runs. JAX does not learn between sessions, and conversations are not retained on the server.

JAMS MCP is a connector, built on the open Model Context Protocol standard, that brings JAMS into the AI tools engineering teams already use, including Cursor, VS Code with Copilot, Claude Code, Claude Desktop, and Codex. Users query jobs, investigate failures, and manage runs in plain language without leaving their tool.

Both capabilities run inside the customer’s own network and act as the signed-in user, with that user’s exact JAMS permissions. There is no elevated AI account: whatever a user cannot do in the JAMS interface, JAX and JAMS MCP cannot do on that user’s behalf. Every JAX and MCP operation is recorded in its own dedicated log, and changes made through the JAMS API land in the JAMS audit trail like any other change. Customers choose their own AI model, whether a commercial provider such as OpenAI or Anthropic or a model running entirely on their own hardware, and JAMS never trains on customer data. In the current release, neither feature edits or deletes a job, folder, schedule, or agent definition. For teams that need operational data to stay onshore, JAX runs on a local model entirely inside the customer’s own network, so nothing leaves at all.

“Adopting AI usually means giving something up, most often visibility into where your data goes,” said Pete Hegland, Chief Executive Officer of JAMS Software. “We built JAX and JAMS MCP so that trade does not have to happen. Every action runs as the signed-in user, every change waits for approval, and the model can run on the customer’s own hardware, keeping operational data onshore.”

“For teams across Australia, New Zealand, and Singapore, two things matter: keeping data onshore, and getting answers when a job fails after hours,” said Shayne Cooper, Account Executive for APAC at JAMS Software. “JAX and JAMS MCP address both. The model can run on the customer’s own hardware, and the answer arrives in plain language at the moment it is needed.”

JAX and JAMS MCP are available now to all JAMS Web customers across Australia, New Zealand, and Singapore, with no separate licence, SKU, or additional cost. AI-assisted creation of new jobs and workflows from a plain-language description is on the roadmap for a future release, gated by the same approvals and permissions as every other action.

Learn how JAX and JAMS MCP work at https://jamsscheduler.com/product/ai.

Fast facts

JAX is an AI agent built into the JAMS Web Client for job scheduling and workflow automation.JAMS MCP is a connector built on the open Model Context Protocol standard, for Cursor, VS Code with Copilot, Claude Code, Claude Desktop, and Codex.Both act as the signed-in user, with that user’s exact JAMS permissions, and there is no elevated AI account.Customers choose the AI model, including a local model that runs entirely inside their own network.JAMS never trains on customer data.Both are available now at no additional cost as part of JAMS Web.

About JAMS Software
Founded in 1987, JAMS Software is an orchestration solution that helps IT teams centralize, automate, and manage scheduled and event-driven jobs across complex, hybrid environments. Over 850 customers rely on JAMS to run their automated workloads. JAMS Software, LLC is headquartered at 108 Patriot Drive, Suite A, Middletown, DE 19709.

Media Contact
Bobby Schmidt, Vice President of Marketing
press@jamssoftware.com
800.261.4267

 

 

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SOURCE JAMS Software

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