Market Analysis: Global Visual Search Market
Global visual search market is set to witness a healthy CAGR of 17.50% in the forecast period of 2019 to 2026. The report contains data of the base year 2018 and historic year 2017. This rise in the market can be attributed due to rising automation technology and ease in business operations through visual search market.
Market Definition: Global Visual Search Market
Visual search engines are an automated search engine which collects visual data and information from the web and classifies the image and video data accordingly. They are also used in surveillance systems by monitoring huge amounts of video streams; due to emerging of e-commerce industry visual search engine has gain huge popularity. They are widely used in applications like security screening, electronic component manufacturing, navigation systems etc.
- Increasing demand for machine learning and visual search engine is driving the market forces
- Rising prevalence for chatbots in visual search is expanding the market
- Growth in e- commerce industry will also propel the market
- Advancement in technology and development is driving the market of visual search market
- Rising popularity of internet and smartphones among population is also driving the market of visual search market
- High operation cost will restraint the market expansion
- Lack of skilled and trained personnel for carrying the operation hinders the market growth
Segmentation: Global Visual Search Market
By Offering Analysis
- Image Search
- Search Recommendation
By Vertical Analysis
- Consumer Goods
- Automotive OEMs
- Baggage Scanning
- Security Screening
- Electronic Component Manufacturing
- Navigation Systems
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market:
- In February 2019, Facebook announced its acquisition of GrokStyle which creates visual search technology so that they can expand its artificial intelligence. Facebook has taken such initiative which will enable to take real-world object and use it to look for similar items online. This will benefit Facebook in advancement in its technology and able to serve its users more efficiently.
- In October 2017, Apple Inc. announced its acquisition of Regaind which works on application programming interface to analyze the content of photos. This acquisition will enable Apple to enhance the memory section of the Photos app, locations and events. This acquisition will benefit Apple in advancement in its technology and adding on new effective features to serve its users effectively and be a leader in smartphone industry.
Competitive Analysis: Global Visual Search Market
Global visual search market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of visual search market for global, Europe, North America, Asia Pacific and South America.,
Major Market Competitors/Players: Global Visual Search Market
Few of the major competitors currently working in the global visual search market are Amazon.com, Inc., Clarifai, Inc., Cortexica Vision Systems Ltd, Microsoft, Pinterest, Slyce, Snap Inc., Syte.ai, TinEye, Turing Analytics LLP, Veritone, Inc., ViSenze., WIDE EYES TECHNOLOGIES, Google.
Research Methodology: Global Visual Search Market
Data collection and base year analysis is 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 enquiry.
The key research methodology used by 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, other data models include Vendor Positioning Grid, Market Time Line 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.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved