Global Image Recognition Market – Industry Trends and Forecast to 2028
The image recognition market is expected to witness market growth at a rate of 16.95% in the forecast period of 2021 to 2028. Data Bridge Market Research report on the aviation analytics market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market's growth. The rise in the need for image recognition in the automotive industry is escalating the growth of the image recognition market.
Image recognition denotes the technologies that identify logos, places, objects, people, buildings, and various other variables in images. Customers are sharing enormous amounts of data through social networks, apps, and websites. Also, mobile phones equipped with cameras are leading to the creation of unlimited videos and digital images. The large volume of digital data is being utilized by companies to deliver smarter and better services to the people accessing it.
Major factors that are expected to boost the growth of the image recognition market in the forecast period are the increase in the need for security applications and products enabled with image recognition functions. Furthermore, the rise in the utilization of high bandwidth data services is further anticipated to propel the growth of the image recognition market. Moreover, the technology developments to improve the need for image recognition amongst the CPG and retail companies are further estimated to cushion the growth of the image recognition market. On the other hand, the high installation price of the image recognition solutions is further projected to impede the growth of the image recognition market in the timeline period.
In addition, the rise in the demand for big data analytics will further provide potential opportunities for the growth of the image recognition market in the coming years. However, the decrease in the resolution image size and storage might further challenge the growth of the image recognition market in the near future.
This image recognition market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the image recognition market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you make an informed market decision to achieve market growth.
Global Image Recognition Market Scope and Market Size
The optical satellite communication market is segmented on the basis of technology, component, application, deployment type, and industry. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of technology, the image recognition market has been segmented into code recognition, digital image processing, facial recognition, object recognition, pattern recognition, optical character recognition.
- On the basis of components, the image recognition market has been segmented into hardware, software, and services.
- On the basis of application, the image recognition market has been segmented into scanning and imaging, security and surveillance, image search, augmented reality, marketing, and advertising.
- On the basis of deployment type, the image recognition market has been segmented into on-premise and cloud.
- On the basis of industry, the image recognition market has been segmented into BFSI, media, and entertainment, retail and consumer goods, IT and telecom, government, healthcare, transportation and logistics, education, gaming.
Image Recognition Market Country Level Analysis
The image recognition market is analysed, and market size, volume information is provided by country, technology, component, application, deployment type, and industry as referenced above.
The countries covered in the image recognition market report are the U.S., Canada, and Mexico in North America, Brazil, Argentina, and the rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
North America dominates the image recognition market due to the increasing development of cloud-based streaming services. Furthermore, the rise in the integration of artificial intelligence and mobile computing platforms in the field of digital shopping and e-commerce will further boost the growth of the image recognition market in the region during the forecast period. Asia-Pacific is projected to observe a significant amount of growth in the image recognition market due to the rise in the utilization of mobiles and tablets. Moreover, the increase in the applications of face remembrance in security and surveillance systems is further anticipated to propel the growth of the image recognition market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Image Recognition Market Share Analysis
The image recognition market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the image recognition market.
The major players covered in the image recognition market report 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 and KeyLemon Ind. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Image Recognition Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import-export and a grey area results data, literature review, consumer analysis, and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.