Global “Image Recognition Market” report offers an overview of the market size, share, trends, drivers, and barriers with respect to the Image Recognition Industry. Latest report on the global Image Recognition market is a compilation of key market insights and discusses key market dynamics such as drivers, restraints, and opportunities at length. It also provides a comprehensive overview of the market of different regions across North America, Europe, Asia Pacific, South America, Africa and Others.
The Image Recognition Market report discusses the primary industry
growth drivers and challenges that the vendors and the market as a whole face
and provides an overview of the key trends emerging in the market. It also
talks about the market size of different segments and their growth aspects
along with key leading countries in Americas, Asia-Pacific, Europe, the Middle
East, and Africa regions.
Significant Features that are under Offering and Key Highlights of the
Reports:
• Detailed overview of Image Recognition Market
• Changing market dynamics of the Image Recognition industry
• In-depth market segmentation by Type, Application etc
• Historical, current and projected market size in terms of volume and
value
• Competitive landscape of Image Recognition Market
• Strategies of key players and product offerings
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Image Recognition Market is anticipated to reach USD
77.69 billion by 2025. The market is anticipated to witness a healthy growth
rate in the years to come. Image recognition implies technique for processing,
sympathizing, acquiring, and scrutinizing images. To generate symbolic or
numerical information from the real world the image recognition gathers high-dimensional
data. It uses disentangling of representational data from image data using
replica formed with the help of statistics, physics, learning theory, and
geometry.
On the other hand, the high price of raw material as well
as maintenance will be restraining factors for global image recognition market.
In addition, high cost of ownership of the image recognition tools is one of
the reasons hampering the market growth in the years to come. It is anticipated
to grow at a significant CAGR of 19.2% in the upcoming period as the scope,
product types, and its applications are increasing across the globe.
The market may be explored by techniques, applications,
components, deployment mode, verticals, and geography. Image Recognition Market
may be explored by techniques as Facial Recognition, QR/Barcode Recognition,
Object Recognition, Optical Character Recognition, and Pattern Recognition.
The “object recognition” segment dominated the market in
2016 and it is anticipated to lead the market during the forthcoming period due
to high acceptance of image recognition devices in the retail segment as it
supports detection of an item without using barcodes. It also permits marketers
to increase insights to help them and connect with their customers by tracing
objects from photos shared by customers on social media.
Image Recognition Market may be explored by application
as Augmented Reality, Scanning & Imaging, Image Search, Marketing &
Advertising Security, and Surveillance. The “Marketing & advertising”
segment dominated the Image Recognition Market in 2016 and anticipated to lead
the market during the forthcoming period.
Image Recognition Market may be explored by components as
Software, Service, and Hardware. The “software” segment dominated the
“components” section in the Image Recognition Market in 2016 and expected to
lead the market during the forthcoming period. This development is
characterized by the growing use of devices enabled with image recognition
capabilities such as scanners and smartphones.
The market may be explored by deployment mode as
On-Premise, and Cloud. Also, the market explored by Vertical as Media &
Entertainment, Automobile & Transportation, BFSI, Healthcare, Retail &
E-commerce, Telecom & IT, Government, and Others. The media and
entertainment segment dominated Image Recognition Market in 2016 and expected
to continue with the same during the forthcoming period; which could be
ascribed to the ability of image recognition technology in removing commercial
insights from images published on social media.
North America accounted for the major share of the market
and will continue to rule the roost in the forecast period due to increasing
incorporation of image recognition and mobile computing platform in the field
of digital shopping and e-commerce. North America is followed by Asia-Pacific
and Europe. Some of the key players that fuel the growth of the Image
Recognition Industry include Honeywell, LTU Technologies, catchoom, Itraff
Technology, Panasonic Corporation, Hitachi Ltd, Toshiba, NEC Corporation,
Wikitude Gmbh and Qualcomm Technologies. The leading companies are taking up
partnerships, mergers and acquisitions, and joint ventures in order to boost
the inorganic growth of the industry.
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