The global image recognition market is expected to reach USD 80.07 Billion by 2026, according to a new report by Reports and Data. Image recognition is the process of recognizing and detecting an object or a feature in a digital image or video. Computers utilize machine vision technologies coupled with a camera and artificial intelligence software to realize image recognition. —
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Key players mentioned in the research report are:
Google Inc., Hitachi Ltd., Attrasoft Inc., Honeywell International Inc., NEC Corporation, Qualcomm Inc., Catchoom Technologies Inc., Slyce Inc., LTU Technologies, and Intel Corporation, among others.
In terms of applications, the global Image Recognition market can be segmented into:
Security & Surveillance
Scanning & Imaging
Marketing & Advertising
In terms of types, the global Image Recognition market can be segmented into:
Barcode/QR Code Recognition
Optical Character Recognition
The Image Recognition Market is analyzed on the basis of dynamics of demand and supply, pricing, total volume produced, revenue generated, and others. The manufacturing is studied on the basis of several factors such as manufacturing plant distribution, industry production, production capacity, and research and development. It also delivers accurate market evaluations with the use of SWOT analysis, investment analysis, returns analysis, and growth trend analysis, and others.
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For geographical segmentation, regional supply, application-wise, and type-wise demand, key players, and others, this report covers the following regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The report sheds light on the competitive landscape of the market that covers the product offerings, services, market shares, and business overview. This Image Recognition Market research report covers various dynamic aspects like the market drivers, restraints and challenges, and growth prospects. The prominent and leading companies are profiled in the report.
Further key findings from the report suggest
• By type, object recognition contributed to the largest market share in 2018. Object detection helps in detection and defines objects such as humans, buildings, and cars from digital images and videos and finds use in a wide range of industries.
• By deployment mode, cloud-based deployment dominated the market in 2018 and is expected to grow at a faster rate of 18.0% in the forecast period.
• By application, security & surveillance held a significant market share in 2018, owing to the widespread deployment of image recognition in fraud detection.
• By industry vertical, media & entertainment contributed to the largest market share in 2018, due to the usage of image recognition to enhance user experience.
• North America dominated the market in 2018 and is expected to grow at a rate of 17.3% in the forecast period. Advancements in technology and the presence of leading companies in the region are causative of the growth of the market in the region.
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This research report delivers a 360 overview of the competitive landscape of the Global Image Recognition Market. Furthermore, it includes massive data regarding the latest trends, technological advancements, and methodologies. The study analyzes the Global Image Recognition Market in a detailed and extensive manner for the readers to gain better insights.
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