San Francisco, CA - 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.
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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.
Regional Analysis For Image Recognition Market:
For comprehensive understanding of market dynamics, the global Image Recognition Market is analyzed across key geographies namely: North America, Europe, Asia-Pacific, Latin America and Africa. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.
Significant Features that are under Offering and Key Highlights of the Reports:
- Detailed overview of Image Recognition Market
- Changing market dynamics of the industry
- In-depth market segmentation by Type, Application etc
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of High-Performance Alloys Market
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth.
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