Asia-Pacific Image Recognition Market is Expected to Grow at a CAGR of 19.5% in the forecast period of 2021 to 2028

The Asia-Pacific Image Recognition Market is forecasted to grow at a CAGR of 19.5% with factors such as growing adoption of smartphones and growing demands for cloud-based IR solutions which can act as a major factor for the market's growth.

The image recognition market has shown an exceptional penetration in countries such as Australia as the growing demands for cloud-based IR solutions and growing importance for security solutions across the aforementioned region.

Asia-Pacific Image Recognition Market Scenario

According the Data Bridge Market Research, the market in Australia has the highest market share and the market leader is Huawei Technologies Co. Ltd., which accounts for an estimated market share of approximately 11.31% in the Asia-Pacific market. The company has gained outstanding sales by providing image recognition products and entering partnerships that strengthen its product portfolio.

For instance,

  • In August 2021, Huawei Technologies Co., Ltd. launched seven new machine vision products. The key feature of this product was improved image quality evaluation standards using AI-based features. These products helped the company improve its product portfolio and offered customers unique vision products with improved image/object identification and detection capabilities
  • In October 2020, Huawei Technologies Co., Ltd entered into a partnership with Vision Labs. The key feature of this partnership was to improve its image/object identification and detection capabilities using advanced vision technology. This partnership will help the company significantly improve the vision products together, hence offering unique solutions for consumers

Asia-Pacific Image Recognition Market Trends Impacting the Market

Now the question is which other regions Huawei Technologies Co., Ltd., Hitachi Information & Telecommunication Engineering, Ltd., and Honeywell International Inc. are targeting? Data Bridge Market Research has forecast the large growth in Australia image recognition market and the market leaders are targeting Indonesia and Taiwan for their next pocket revenue in 2021.

The Asia-Pacific image recognition market is becoming more competitive every year with Huawei Technologies Co., Ltd., TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION, Hitachi Information & Telecommunication Engineering, Ltd., Honeywell International Inc., TRAX IMAGE RECOGNITION, Google, among others as they are the market leaders for image recognition. The Data Bridge Market Research new reports highlight the major growth factors and opportunities in the Asia-Pacific image recognition market.

For more analysis on the Asia-Pacific image recognition market, requests for a briefing with our analysts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=asia-pacific-image-recognition-market

Image Recognition Market Development

  • In March 2020, Hitachi Information & Telecommunication Engineering, Ltd. Company developed new solution for the human action recognition application. The company developed AI technology for the image recognition in video under low visibility and slight variation in motion. Through this new development company improved their product portfolio for the customers.

Scope of the Asia-Pacific Image Recognition Market

All country-based analysis of the Asia-Pacific image recognition market is further analyzed based on maximum granularity into further segmentation. On the basis of offering, the Asia-Pacific image recognition market is segmented into hardware, software, and services. On the basis of the deployment model, the Asia-Pacific image recognition market is segmented into cloud and on-premise. On the basis of technology, the Asia-Pacific image recognition market is segmented into facial recognition, object recognition, pattern recognition, QR/barcode recognition, and optical character recognition. On the basis of application, the Asia-Pacific image recognition market is segmented into image search, scanning and imaging, security and surveillance, marketing and advertising, augmented reality. On the basis of end use, the Asia-Pacific image recognition market is segmented into BFSI, IT and telecommunication, government, retail and e-commerce, automobile and transportation, healthcare, media and entertainment, and others.

To know more about the study https://www.databridgemarketresearch.com/reports/asia-pacific-image-recognition-market

Key Pointers Covered in Asia-Pacific Image Recognition Market Industry Trends and Forecast to 2028

  • Market Size
  • Market Standards and Changes
  • Market Trials in Different Regions
  • Market Requirements in Different Regions
  • Market Shares in Different Regions
  • Recent Developments for Market Competitors
  • Recent Market Value for Different regions
  • Sales Data for Market Competitors
  • Market Key Vendors and Disruptors Study

Key Market Competitors Covered in the Report

  • Huawei Technologies Co., Ltd.
  • Hitachi Information & Telecommunication Engineering, Ltd.
  • TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION
  • Honeywell International Inc.
  • TRAX IMAGE RECOGNITION
  • Google
  • Qualcomm Technologies, Inc.
  • IBM Corporation
  • Amazon Web Services, Inc.
  • Ricoh
  • Microsoft
  • Blippar
  • Clarifai, Inc
  • LTU Tech
  • Partium.io
  • Trigo
  • Vispera Information Technologies
  • Wikitude GmbH
  • Above are the key players covered in the report, to know about more and exhaustive list of image recognition companies, contact us: https://www.databridgemarketresearch.com/toc/?dbmr=asia-pacific-image-recognition-market

Research Methodology: Asia-Pacific Image Recognition Market

Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or can drop down your inquiry.

The key research methodology used by the DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market timeline analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis, and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Primary Respondents

  • Demand Side: Managers, Directors, Industrial Professional, Image Processing Professional, Computer Vision Professional, Vision Developers, Image Classification Developers
  • Supply Side: Service Providers, AML Companies, Marketing Managers, Logistics Managers, and C-Level Executives, among others.

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