Image recognition technology, powered by machine learning, has been embedded in several fields, such as self-driving vehicles, automated image organization of visual websites, and face identification on social networking websites. One of the most popular applications of image identification is social media monitoring, as visual listening and visual analytics are the essential factors of digital marketing.
The "Global Image Recognition Market Analysis to 2028" is a specialized and in-depth study of the technology, media and telecommunication industry with a special focus on the global market trend analysis. The report aims to provide an overview of the image recognition market with detailed market segmentation by component, technology, application, industry vertical and geography. The report provides key statistics on the market status of the leading image recognition market players and offers key trends and opportunities in the market.
- Based on component, the global image recognition market is segmented into software, services
- On the basis of technology, the market is segmented into QR/barcode recognition, facial recognition, object recognition, optical character recognition, pattern recognition
- Based on application, the market is bifurcated into security and surveillance, scanning and imaging, marketing and advertising, others
- Based on industry vertical, the market is bifurcated into retail and consumer goods, media and entertainment, automotive, healthcare, public services, others
- Increasing need for image recognition in the automotive industry.
- Rising demand for security applications and products enabled with image recognition functions.
- Increasing use of high bandwidth data services
- High installation cost of image recognition solutions
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The image recognition market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the image recognition market in these regions.
IMPACT OF COVID-19 ON IMAGE RECOGNITION MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
The report covers key developments in the image recognition market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from image recognition market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the image recognition market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Amazon Web Services
- Clarifai Inc
- Google Inc.
- GUMGUM INC.
- IBM Corporation
- NEC Corporation
- Qualcomm Incorporated.
- Slyce Inc.
- Wikitude GmbH
- Imagga Technologies Ltd
- Catchoom Technologies S.L.
- Abto Software
- Powerupcloud Technologies.
- TRAX IMAGE RECOGNITION
- Hey DAN
- Vispera Information Technologies
- DREAMZTECH SOLUTIONS INC
- ScienceSoft USA Corporation
- Perfect Memory
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.