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Image Recognition Market Size, Growth Trends, Top Players, Application Potential and Forecast to 2027

The research and analysis conducted in Image Recognition Market Report helps clients to predict investment in an emerging market, expansion of market share or success of a new product with the help of global market research analysis. This report has been designed in such a way that it provides very evident understanding of the business environment and Image Recognition industry. Nevertheless, this global market research report unravels many business problems very quickly and easily. Due to high demand and the value of market research for the success of different sectors, Image Recognition Market report is provided that covers many work areas.

Global image recognition market is set to witness a healthy CAGR of 22.25% in the forecast period of 2019 to 2026. The report contains data of the base year 2018 and historic year 2017. This rise in the market value can be attributed due to increasing demand of image recognition technologies and applications in gaming consoles and mobile computing devices.

Image recognition refers to identifying and detecting an object or a feature in digital image or video. It includes identification on the parameters such as faces, patterns, fingerprints, hand geometry, hand veins, finger geometry, palm recognition, retina recognition and voice recognition. It is widely being used by the businesses globally to enhance their customer experiences and increase their security and surveillance.

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Market Drivers:

  • Growing adoption of image recognition applications, which is fueling the growth of the market
  • Increasing demand for security applications and products enabled with the image recognition function, is boosting the market growth
  • Surging uses of high bandwidth data services, had increased the market size of image recognition
  • Growing use of artificial intelligence by the companies globally, is driving the growth of the market

Market Restraints:

  • High initial cost of setting up of image recognition systems and devices, is restricting the growth of the market
  • Lack of image size resolution, is hindering the growth of the market
  • Lack of technical experts in the industry, is hindering the market growth

Segmentation: Global Image Recognition Market

By Technology

  • Code Recognition
  • Digital Image Processing
  • Facial Recognition
  • Object Recognition
  • Pattern Recognition
  • Optical Character Recognition

By Component

  • Hardware
  • Software
  • Services
    • Managed Services
    • Professional Services
    • Training, Support and Maintenance Services

By Application

  • Scanning and Imaging
  • Security and Surveillance
  • Image Searching
  • Augmented Reality
  • Marketing and Advertising

By Deployment Type

  • On-Premises
  • Cloud

By Industry

  • Banking, Financial Services and Insurance
  • Media and Entertainment
  • Retail and Consumer Goods
  • IT and Telecom
  • Government
  • Healthcare
  • Transportation and Logistics
  • Education
  • Gaming

By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Turkey
    • Belgium
    • Netherlands
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • South Korea
    • India
    • Australia
    • Singapore
    • Malaysia
    • Indonesia
    • Thailand
    • Philippines
    • Rest of Asia-Pacific
  • Middle East & Africa
    • South Africa
    • Egypt
    • Saudi Arabia
    • United Arab Emirates
    • Israel
    • Rest of Middle East & Africa

Key Developments in the Market:

  • In July 2019, First Insight Inc., announced New insight customer experience platform which is fast and combines enhanced customer insights with the product level analytics which increases the efficiency and productivity of the user and can enhance the overall customer experience.
  • In January 2017, Qualcomm Technologies Inc., and ODG announced the first augmented reality smart glasses with new snapdragon 835 processor enabled which uniquely delivers power efficiency and performance required for the compact AR/VR smart glasses.
  • In October 2016, NEC Corporation announced the global launch of their NeoFace image data mining that utilizes artificial intelligence to accurately search the video footages for the required individual. The software can be utilized for various applications like criminal investigation, searching lost child and proving improved customer service.

Competitive Analysis

Global image recognition market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of image recognition market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

New Business Strategies, Challenges & Policies are mentioned in Table of Content, Request FREE TOC at @ https://www.databridgemarketresearch.com/toc/?dbmr=global-image-recognition-market&somesh

Major Market Competitors/Players

Few of the major competitors currently working in the global image recognition market are Qualcomm Technologies, Inc., NEC Corporation, Google., LTUTech, Catchoom, Honeywell International Inc, Hitachi, Ltd., Wikitude GmbH, Slyce, Attrasoft, Inc., JASTEC Co. Ltd., Apple Inc., Facebook, Twitter, IDEMIA, Gemalto NV, Ayonix Face Technologies, Cognitec Systems GmbH, Aware, Inc., Daon, Neurotechnology, Herta Security, KeyLemon Ind. among others.

Key Insights in the report:

  • Complete and distinct analysis of the market drivers and restraints
  • Key Market players involved in this industry
  • Detailed analysis of the Market Segmentation
  • Competitive analysis of the key players involved

Major Highlights of Image Recognition market in Covid-19 pandemic covered in report:

The report provides impact of COVID-19 on Image Recognition market along with its impact on overall industry and economy of world. Further, it adds changes in consumer buying behavior as it impacts majorly on market growth and sales. Distributors and traders on marketing strategy analysis focusing on region wise needs in covid-19 pandemic is also added in the Image Recognition market report. The last segment of COVID-19 impact chapter include recovery and major changes opted by major players involved in Image Recognition market.

Reasons to Purchase this Report:

  • Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
  • Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
  • Market value USD Million and volume Units Million data for each segment and sub-segment
  • Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Table of Content:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: RESEARCH METHODOLOGY

PART 04: INTRODUCTION

PART 05: MARKET LANDSCAPE

PART 06: MARKET SIZING

PART 07: FIVE FORCES ANALYSIS

PART 08: MARKET SEGMENTATION BY PRODUCT

PART 09: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL

PART 10: CUSTOMER LANDSCAPE

PART 11: MARKET SEGMENTATION BY END-USER

PART 12: REGIONAL LANDSCAPE

PART 13: DECISION FRAMEWORK

PART 14: DRIVERS AND CHALLENGES

PART 15: MARKET TRENDS

PART 16: COMPETITIVE LANDSCAPE

PART 17: COMPANY PROFILES

PART 18: APPENDIX

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