Image Recognition in Retail Market Size

Image Recognition in Retail Market size was valued at USD 4.52 billion in 2024 and is likely to exceed USD 70.17 billion by the end of 2037, expanding at over 23.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of image recognition in retail is evaluated at USD 5.37 billion.. The market is projected to be influenced by the growing adoption of cloud in retail. About 77 percent of retailers globally in 2022 were mature or intermediates users of the cloud who were advancing their investment in the cloud.  Cloud computing makes data processing ability, and data storing capacity efficient which makes the operation of retail business effortless.

Additionally, the concern for fake logos, and designs is growing which will further drive the demand for image recognition. Image recognition technology basically makes it possible for e-Commerce sites to identify goods with false logos and designs trying to pass off as authentic brands by identifying inconsistencies between photos and information. When a fake is found, the system flags it and removes the sellers' products from the marketplace.