UK AI in image recognition market is estimated to grow significantly at a CAGR of 28.4% during the forecast period. UK is the third-largest economy in Europe after Germany and France, majorly owing to its trading power and financial businesses. The country is undergoing the process of exiting the European Union and could create its new independent rules and regulations. The country has well-developed ICT infrastructure, with continuous development in the information technology industry. UK is considered as a country with the highest number of AI start-ups in Europe, some of the start-ups include Sigma data Systems, Fingent, Light IT and others.
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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.
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Market Segmentation
UK AI in Image Recognition Market by Product Type
- Hardware
- Software
UK AI in Image Recognition Market by End-User
- Automotive
- Banking, financial services and insurance (BFSI)
- Healthcare
- Security
- Retail
Company Profiles
- Cortexica Vision Systems, Ltd.
- FiveAI Ltd.
- Fujitsu Ltd.
- Google, LLC
- IBM Corp.
- Intel Corp.
- Microsoft Corp.
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