Global Image Recognition Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2026, at a CAGR of 19.3 % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region
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The increasing adoption of image recognition devices from various sectors such as media, marketing, and retail are expected to drive the growth of the image recognition market. The high price of maintenance as well as raw material, high installation cost, these are some of the major restraining factors that could affect the global image recognition market.
Image recognition market is segmented by technology, component, application, deployment type, industry verticals, and region. Most vendors have adopted new product launches as the key strategy to enhance their customer experience and product portfolio. Existing players in this market are constantly upgrading and innovating their products to enhance their market share. Additionally, due to the technological advancements in image recognition, key vendors are focusing on launching solutions and services for the next generation.
In case of components, the hardware segment is expected to lead the image recognition market during the forecast period, owing to the increasing use of devices enabled with image recognition capabilities, such as scanners and smartphones.
Among application, the security and surveillance segment is expected to reach at the XX% CAGR during the forecast period, due to the increasing need of products and security applications with an integration of innovative technologies such as face recognition technology and surveillance cameras.
Based on the deployment type, the on-premises segment is likely to lead the global image recognition market during the forecast period. Components based on image recognition and its derivative technologies such as pattern and facial recognition are broadly deployed on-premises. This is the main factor for the growth of this segment.
While using the technology segment, the code recognition technology segment is estimated to lead the Image Recognition Market during the forecast period. This is due to adoption of code recognition technology in North America to enhance customer loyalty and to offer better facilities to the customer.
Based on industry vertical segment, the media & entertainment industry segment is expected to dominate the market during the forecast period, owing to the large use of image recognition technology by social media. The rising use of Image Recognition Market in movies, gaming, and television are also enhancing the growth of this segment.
The region segment is divided into North America, APAC, Europe, and LAMEA. Among these,
North America is expected to have XX Image Recognition Market size during the forecast period, as North America is the most advanced region in terms of technology adoption and infrastructure. The increasing number of users of electronic gadgets and smartphones integrated with image recognition applications are the factors expected to drive the growth of the Image Recognition Market in North America. However, the Asia-Pacific is expected to reach at the XX% CAGR during the forecast period. The Asia Pacific is responsible for high threats from terrorist attacks.
The objective of the report is to present comprehensive analysis of Global Image Recognition market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding Global Image Recognition market dynamics, structure by analyzing the market segments, and project the Global Image Recognition market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Image Recognition market make the report investor’s guide.
Scope of Global Image Recognition Market Report: Inquire before buying
Global Image recognition market, by Technology:
• Code Recognition
• Digital Image Processing
• Facial Recognition
• Object Recognition
• Pattern Recognition
• Optical Character Recognition
Global Image recognition market, by Component:
• Hardware
• Software
• Services
Global Image recognition market, by Application:
• Scanning & Imaging
• Security & Surveillance
• Image Search
• Augmented Reality
• Marketing & Advertising
Global Image recognition market, by Deployment Type:
• On-Premises
• Cloud
Global Image recognition market, by Industry Vertical:
• BFSI
• Media & Entertainment
• Retail & Consumer Goods
• IT & Telecom
• Government
• Healthcare
• Transportation & Logistics
• Others (Gaming and Education)
Global Image recognition market, by Region:
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America
Key Players in Image recognition market:
• Attrasoft, Inc.
• NEC Corporation
• Google, Inc.
• Catchoom Technologies S.L
• Hitachi, Ltd.
• Honeywell International, Inc.
• LTU Technologies
• Qualcomm Incorporated
• Slyce, Inc.
• Wikitude GmbH
• Toshiba Corporation
• Panasonic Corporation
• iTraff Technology Sp. z o.o.
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Global Image Recognition Market ScenarioImage recognition is a technology used in identifying and differentiating between objects and animals in an image.
It manages this task through the number of pixels, colors, color depth, and fetching stored images in databases to compare and analyze them separately.
The global Image Recognition Industry report by Market Research Future (MRFR) takes a look at machine learning development, upgrades by software developers, and other trends and niches for estimating market value and growth pattern for the period of 2017 to 2023 (forecast period).
The outbreak of the COVID-19 virus and its impact on the industry are analyzed thoroughly.Market ScopeThe global image recognition market is projected to expand at a rapid pace owing to technological leaps in machine learning, artificial intelligence, and autonomous vehicles.
For instance, the Transportation Security Administration (TSA) had conducted a short-term test for checking travel document photos against the image of the passenger in 2019 at checkpoints.Get Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/1315Rise in cloud computing, purchase of smartphones, and integration of face recognition technology are likely to spur the market demand significantly.
Moreover, the images of COVID-19 patients are used to diagnose the disease at an initial stage and take necessary precautions for containing the virus.SegmentationThe global image recognition market is segmented by solution, deployment, component, and application.By solution, it is segmented into pattern recognition, optical object recognition, facial recognition, barcode/quick response code recognition, object recognition, and sensors.By deployment, it is divided into on premises and on demand.By component, it is divided into hardware and software.
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.
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.
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.Download Sample Report @ https://www.millioninsights.com/industry-reports/image-recognition-market/request-sampleThe 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.
