Global Visual Search Market, By Offering Analysis (Image Search and Search Recommendation), Vertical Analysis (Consumer Good, Retail, Automotive, Healthcare and Others), Type (Automotive OEMs. Electronics, Forestry, Aviation, E-Commerce and Others), Application (Baggage Scanning, Security Screening, Electronic Component Manufacturing, Navigation Systems and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Data Bridge Market Research analyses that the digital map market will exhibit a CAGR of 17.50% for the forecast period of 2021-2028. Rising adoption of automated technologies and increasing demand for technologies that offer ease in business operations are the two major factors attributable to the growth of visual search market. This signifies that the visual search market value will rise up to USD 32,984.022 million by the year 2028.
Visual search is a type of perceptual task that typically involves an active scan of the visual environment for a particular object or feature. It is used to identify a specific predetermined target among other distractions. Visual search engines are used in a wide range of applications such as baggage scanning, security screening, electronic component manufacturing, navigation systems and others.
Rapid adoption of visual search engines in e-commerce industry is one of the major factors responsible for this unprecedented market growth. Moreover, growth and expansion of e-commerce industry will directly and positively influence the growth in demand for visual search engines. Rising demand for advanced technological solutions such as artificial intelligence and machine learning will further create lucrative and remunerative growth opportunities for the visual search market. Rising internet penetration and rising smartphone penetration will further induce growth in the demand for visual search engines.
However, high operational cost will pose a major challenge to the visual search market growth. Also, lack of skilled professionals or trained personnel will further create hindrances for the growth of visual search market. Lack of adequate technological infrastructure in low and middle class economies will further create obstacles for the visual search market.
This visual search market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised 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, geographical expansions, technological innovations in the market. To gain more info on visual search market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Visual Search Market Scope and Market Size
The visual search market is segmented on the basis of offering analysis, vertical analysis, type and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of offering analysis, the visual search market is segmented into image search and search recommendation.
- On the basis of vertical analysis, the visual search market is segmented into consumer good, retail, automotive, healthcare and others.
- On the basis of type, the visual search market is segmented into automotive OEMs, electronics, forestry, aviation, e-commerce and others.
- On the basis of application, the visual search market is segmented into baggage scanning, security screening, electronic component manufacturing, navigation systems and others.
Global Visual Search Market Country Level Analysis
The visual search market is analysed and market size, volume information is provided by country, offering analysis, vertical analysis, type and application as referenced above.
The countries covered in the visual search market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America holds a prominent share in the global visual search market. The region will continue to undergo substantial gains and spearhead the global market during the forecast period as well. This is because of the rising application of visual search engines coupled with rising technological advancements. USA and Canada have also emerged to be the major contributors. Asia-Pacific on the other hand is projected to score the highest compound annual growth rate (CAGR) for the forecast period as well because of the increased adoption of visual search engine solutions for e-commerce applications and rising smartphone and internet penetration.
The country section of the visual search market 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 such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, 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 Visual Search Market Share Analysis
The visual search 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, production sites and facilities, production capacities, 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 visual search market.
The major players covered in the visual search market report are Microsoft, Amazon.com, Inc., Clarifai, Inc., Cortexica Vision Systems Ltd, Goxip.Com., Pinterest, Slyce Acquisition Inc., Snapdeal Private Limited, Syte, TinEye, Turing Analytics LLP, Veritone, Inc., ViSenze., WIDE EYES TECHNOLOGIES, Google LLC, Ever AI Technologies., NetXposure, Inc., Nextopia Software Corporation., Digimarc Corporation and Imaginestics, LLC. 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.