In its latest report on Image Recognition Market provides a concise analysis of the recent market trends. The report further includes statistics, market forecasts and revenue estimations, which in addition highlights its status in the competitive domain as well as expansion trends adopted by major industry players.
Image Recognition Market is valued at USD 20.7Billion in 2018 and expected to reach USD 72.5Billion by 2025 with the CAGR of 19.6% over the forecast period.
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Scope of Global Image Recognition Market Report-
Image recognition is a process of identifying and detecting an object or a feature in a digital image or video. It is a scientific field that deals with how computers can gain high-level understanding from digital images or videos. Starting the perspective of engineering, it seeks to recognize and automate tasks that the human visual system can do. It uses a technology that detects places, people, items, buildings, logos, and different variables in pictures with the help of artificial intelligence.It includes identification on the factors such as faces, patterns, fingerprints, hand geometry, hand veins, finger geometry, palm recognition, retina recognition and voice recognition. It is usually being used by the industries globally to enhance their customer involvements and increase their security and surveillance.
Global Image RecognitionMarket report is segmented on the basis of end-user, technology, application, component, deployment, and by regional & country level. Based upon end-user, image recognition market is classified into BFSI, media and entertainment, retail and consumer goods, IT and telecom, government, healthcare, transportation and logistics and others. Based upon technology, image recognition market is classified into barcode recognition, facial recognition, object recognition, pattern recognition and optical character recognition. Based upon application, the market is classified into scanning and imaging, security and surveillance, image search, augmented reality and marketing and advertising. Based upon component, image recognition market is classified into hardware, software and service. Based upon deployment, the market is classified into on-premises and cloud.
The regions covered in this Image Recognitionmarket report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Image Recognition is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players of Global Image RecognitionMarket Report-
Image Recognitionmarket report covers prominent players areAmazon Web Services (AWS) Inc., Google LLC, IBM Corporation, Microsoft Corporation, NVidia Corporation, Honeywell International Inc., Qualcomm Technologies, Inc., Hitachi, Ltd., LTU technologies, NEC Corporation andothers.
NEC Launched AI Software that Searches Video for Specific Individuals
October 31st, 2016;NEC Corporation announced the worldwide launch of NeoFace Image data mining (NeoFace Idm), specific software that utilizes Artificial Intelligence (AI) to rapidly and exactly search video footage, such as satisfied from crime prevention CCTV cameras, for specific individuals. The software can be operated in a variety of uses, such as criminal investigations, searching for lost children, and provided that improved customer service.
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Global Image RecognitionMarket Dynamics–
Its increasing demand in various industries such as e-commerce, automotive, healthcare, retail and others is one of the major factors fostering the market growth. In addition, increasing demand for security applications and products with the image recognition function are some of the major factors driving the growth of global image recognition market. According to the Application Security Statistics Report, the 2019 Stats Report is the product of data analysis derived from evaluating approximately 17 million application security scans performed by organizations in 2018. It’s one of the commercial uses can be seen in the field of stock photography and video. It provides the tools to make visual content discoverable by users via search. Furthermore, it’s applications are not limited to consumer services only but the advertising and marketing agencies are already exploring its potential for creative and interactive campaigns. It opens new opportunities for learning more about target audiences and serving them with impressive branded content. However, High initial cost of setting up of image recognition systems and devicesmayhamper the growth of the image recognition market.In spite of that, rising demand of image recognition in healthcare industry can provide lucrative opportunities for the further growth of the market.
Global Image RecognitionMarket Regional Analysis–
North America and Europeare expected to capture a significant share of the globalimage recognition market with the potential rate due torising usage of electronic gadgets and smartphone integrated with image recognition applications in this region. According to GSMA real-time intelligence data, there are currently above 9.82 Billion mobile networks international, which exceeds the currentdomain population of 7.77 Billion indirect by UN digital analyst estimates. This records means there are 2.05 billion more mobile connections than people worldwide.
The Asia Pacific is expected to emerge as a fastest-growing regional market over the forecast period due to theincreasing use of mobiles and tablets, rapid technological advancements, and growing popularity of online streaming in emerging economies, such as China and India.According to the Asia Pacific smartphone users report, the number of smartphone users in the Asia-Pacific region from 2014 to 2019. For 2016, the quantity of smartphone users in the Asia-Pacific region is estimated to reach 1,139.8 million.
Key Benefits for Global Image RecognitionMarket Report–
Global Market report covers in depth historical and forecast analysis.
Global Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global Market report helps to identify opportunities in market place.
Global Market report covers extensive analysis of emerging trends and competitive landscape.
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Global Image RecognitionMarket Segmentation:–
Media and Entertainment
Retail and Consumer Goods
IT and Telecom
Transportation and Logistics
Optical Character Recognition
Scanning and Imaging
Security and Surveillance
Marketing and Advertising
By Regional & Country Analysis: (North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa)
Table of Content
1. Chapter – Report Methodology
1.1. Research Process
1.2. Primary Research
1.3. Secondary Research
1.4. Market Size Estimates
1.5. Data Triangulation
1.6. Forecast Model
1.7. USP’s of Report
1.8. Report Description
2. Chapter – Global Image Recognition Market Overview: Qualitative Analysis
2.1. Market Introduction
2.2. Executive Summary
2.3. Global Image Recognition Market Classification
2.4. Market Drivers
2.5. Market Restraints
2.6. Market Opportunity
2.7. Image Recognition Market: Trends
2.8. Porter’s Five Forces Analysis
2.9. Market Attractiveness Analysis
3. Chapter – Global Image Recognition Market Overview: Quantitative Analysis
4. Chapter – Global Image Recognition Market Analysis: Segmentation By Type
5. Chapter – Global Image Recognition Market Analysis: Segmentation By Application
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