Global Pattern Recognition Market, By Type (Speech Recognition, Speaker Identification, Multimedia Document Recognition (MDR), Automatic Medical Diagnosis), Component (Hardware, Software, Service), Deployment (Cloud, On-Premises), Application (Image Processing and Segmentation, Analysis, Computer Vision, Seismic Analysis, Radar Signal Classification/Analysis, Speech Recognition, Finger Print Identification), Industry Vertical (Retail and E-Commerce, Media and Entertainment, BFSI, Automobile and Transportation, IT & Telecom, Government, Healthcare, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Pattern Recognition Market
The pattern recognition market is expected to witness market growth at a rate of 38.50% in the forecast period of 2021 to 2028. Data Bridge Market Research report on pattern recognition 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 use of high bandwidth data services in retail is escalating the growth of pattern recognition market.
The pattern recognition refers to the process of recognizing patterns with the help of machine learning algorithm. It is known to be the classification of data based on knowledge that has already been gained or statistical information which has been extracted from patterns and/or their representation. One of the important factors of the technology is its application potential.
The high use of smartphones and devices having cameras and the increasing investment by the investors in them are the major factors driving the pattern recognition market. The growing demand for security applications and products possessing image recognition functions and the adoption of image recognition technology by several industries such as automotive, healthcare, retail and defense accelerate the pattern recognition market growth. The increase in utilization of the technology as it helps in solving classification problems and problem of fake bio metric detection, and its extensive use in cloth pattern recognition for visually impaired blind people influence the pattern recognition market. The benefits offered by the technology such as speaker divarication and recognition of particular object from various angle and the rise in popularity of pattern recognition owning to its human recognition intelligence also propels the pattern recognition market growth. Additionally, the high usage of the technology in applications associated with the safety and security including facial recognition used by law enforcement agencies and the increasing utilization of face remembrance technology at security checkpoints positively affect the pattern recognition market. Furthermore, the rise in demand for big data analytics and increasing need for brand recognition among end-users extend profitable opportunities to the pattern recognition market players in the forecast period of 2021 to 2028.
On the other hand, high cost of installation and maintenance, complexity of implementation and slow process are the factors expected to obstruct the pattern recognition market growth. Low-resolution image size and storage are projected to challenge the pattern recognition market in the forecast period of 2021-2028.
This pattern recognition market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, 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 pattern recognition market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Pattern Recognition Market Scope and Market Size
The pattern recognition market is segmented on the basis of type, component, deployment, application and industry vertical. 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 type, the pattern recognition market is segmented into speech recognition, speaker identification, multimedia document recognition (MDR) and automatic medical diagnosis.
- On the basis of component, the pattern recognition market is segmented into hardware, software and service.
- On the basis of deployment, the pattern recognition market is segmented into cloud and on-premises.
- On the basis of application, the pattern recognition market is segmented into image processing and segmentation, analysis, computer vision, seismic analysis, radar signal classification/analysis, speech recognition and finger print identification.
- On the basis of industry vertical, the pattern recognition market is segmented into retail and e-commerce, media and entertainment, BFSI, automobile and transportation, IT & telecom, government, healthcare and others.
Global Pattern Recognition Market Country Level Analysis
The pattern recognition market is analyzed and market size, volume information is provided by country, type, component, deployment application and industry vertical as referenced above.
The countries covered in the global pattern recognition market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and 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 Middle East and Africa (MEA).
North America dominates the pattern recognition market due to the growth of cloud-based streaming services, rising mobile computing platforms and artificial intelligence and the high adoption of digital shopping and e-commerce in the region. Asia-Pacific is expected to witness the highest growth during the forecast period of 2021 to 2028 because of the high usage of mobiles and tablets, technological advancements, growing applications of face remembrance in security and surveillance systems and the rise in popularity of online streaming in emerging economies.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream 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, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Pattern Recognition Market Share Analysis
The pattern recognition market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global 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 pattern recognition market.
The major players covered in the pattern recognition market report are Attrasoft, Inc., Catchoom Technologies S.L., Google, Hitachi, Ltd., Honeywell International Inc., LTUTech, NEC Corporation, Qualcomm Technologies, Inc., Slyce, Wikitude GmbH, Amazon Web Services, Inc., Microsoft, IBM Corporation, Blippar, Ricoh Innovations, TRAX IMAGE RECOGNITION, Planorama, PRC, Intelligence Retail, Snap2Insight Inc 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.
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