Germany AI in the image recognition market is estimated to grow significantly at a CAGR of over 28% during the forecast period. Germany is the fourth-largest economy globally and largest in Europe. The country is expected to be the largest player in AI in image recognition in the region. The dominance of Germany in the market is high usage of technology in the automotive, BFSI and security. Germany is a major automotive manufacturing hub globally and the sector contributes 15-20% of the total economy of the country. The major automotive manufacturers which are headquartered in Germany include BMW, MAN, Daimler AG, and Volkswagen. Along with OEM, the country has a well-renowned supplier base that supplies its products across the globe. The growing automotive industry may also contribute to the demand for AI in image recognition technology owing to the increasing demand for connected cars and ADAS

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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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Germany AI in Image Recognition Market Segmentation

By Product Type

Hardware

Software

By End-User

Automotive

Banking, financial services and insurance (BFSI)

Healthcare

Security

Retail

Company Profiles

CellmatiQ GmbH

Fujitsu Ltd.

Google, LLC

IBM Corp.

Microsoft Corp.

MotionsCloud UG

Pattern Recognition Company GmbH

PEAT GmbH

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