Image recognition is a process in which different software are used in the computer technologies so that they can identify and detect the different objects. They usually use different artificial technologies or camera so that they can easily identify these objects. Image recognition is widely used in application such as security surveillance, toll booth monitoring, factory automation and others. Pattern matching, face recognition, optical character recognition, license plate recognition are some of the common image recognition algorithms. Today, this image recognition are used to guide autonomous car, robots, accident avoid system and others. Many different techniques such as convolutional neural filters, max pooling, stride configuration and padding are used so that program can be improved and can identify the subject with more clarity.
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The Major Factors Driving the Market are:
The Global Image Recognition Market is segmented on the basis of technology into code recognition, digital image processing, facial recognition, object recognition, pattern recognition, and optical character recognition; component is segmented into hardware, software and services; services segment is further segmented into managed services, professional services, training, support, and maintenance services; application is segmented into scanning & imaging, security & surveillance, image search, augmented reality, and marketing & advertising; deployment type is segmented into on-premises, and cloud; industry is segmented into banking, financial services and insurance, media & entertainment, retail & consumer goods, IT & telecom, government, healthcare, transportation & logistics.
Some of the major launches related to the global image recognition market are as follows:
According to Data Bridge Market Research, global image recognition market is growing at a healthy CAGR of 20.3% during the forecast period of 2017 to 2024
The major players in the market are Qualcomm Technologies, Inc., NEC India Pvt. Ltd., Google Inc., JASTEC Co., Catchoom, Honeywell International Inc., Hitachi, Ltd., Slyce, Wikitude GmbH, Attrasoft, Inc., itraff, Apple, Inc., Facebook, Inc., Twitter, Inc, Google Inc., and others.
Image recognition has the ability to identify object whether it is people, building, logos, brands and others and uses many different software and artificial intelligence technologies. Today, this image recognition is widely used in different applications security, healthcare, gaming, automation and others and with new innovation and development they are going to expand worldwide. Many players are focusing on create their own image recognition with more advanced features which is the factor creating new opportunities for this market.
Global Image Recognition Market – Industry Trends and Forecast to 2026