Image Recognition Market is anticipated to reach USD 77.69 billion by 2025. The market is anticipated to witness a healthy growth rate in the years to come. Image recognition implies technique for processing, sympathizing, acquiring, and scrutinizing images. To generate symbolic or numerical information from the real world the image recognition gathers high-dimensional data. It uses disentangling of representational data from image data using replica formed with the help of statistics, physics, learning theory, and geometry.
On the other hand, the high price of raw material as well as maintenance will be restraining factors for global image recognition market. In addition, high cost of ownership of the image recognition tools is one of the reasons hampering the market growth in the years to come. It is anticipated to grow at a significant CAGR of 19.2% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
To download the sample pdf of Image Recognition Market Report “Please” click here: https://www.millioninsights.com/industry-reports/image-recognition-market/request-sample
The market may be explored by techniques, applications, components, deployment mode, verticals, and geography. Image Recognition Market may be explored by techniques as Facial Recognition, QR/Barcode Recognition, Object Recognition, Optical Character Recognition, and Pattern Recognition.
The “object recognition” segment dominated the market in 2016 and it is anticipated to lead the market during the forthcoming period due to high acceptance of image recognition devices in the retail segment as it supports detection of an item without using barcodes. It also permits marketers to increase insights to help them and connect with their customers by tracing objects from photos shared by customers on social media.
Image Recognition Market may be explored by application as Augmented Reality, Scanning & Imaging, Image Search, Marketing & Advertising Security, and Surveillance. The “Marketing & advertising” segment dominated the Image Recognition Market in 2016 and anticipated to lead the market during the forthcoming period.
Image Recognition Market may be explored by components as Software, Service, and Hardware. The “software” segment dominated the “components” section in the Image Recognition Market in 2016 and expected to lead the market during the forthcoming period. This development is characterized by the growing use of devices enabled with image recognition capabilities such as scanners and smartphones.
The market may be explored by deployment mode as On-Premise, and Cloud. Also, the market explored by Vertical as Media & Entertainment, Automobile & Transportation, BFSI, Healthcare, Retail & E-commerce, Telecom & IT, Government, and Others. The media and entertainment segment dominated Image Recognition Market in 2016 and expected to continue with the same during the forthcoming period; which could be ascribed to the ability of image recognition technology in removing commercial insights from images published on social media.
North America accounted for the major share of the market and will continue to rule the roost in the forecast period due to increasing incorporation of image recognition and mobile computing platform in the field of digital shopping and e-commerce. North America is followed by Asia-Pacific and Europe. Some of the key players that fuel the growth of the Image Recognition Industry include Honeywell, LTU Technologies, catchoom, Itraff Technology, Panasonic Corporation, Hitachi Ltd, Toshiba, NEC Corporation, Wikitude Gmbh and Qualcomm Technologies. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
To browse report summary & detailed TOC, please click the link below:
https://www.millioninsights.com/industry-reports/image-recognition-market
Market Segment:
Image Recognition Technique Outlook (Revenue, USD Million, 2014 – 2025)
• QR/Barcode Recognition
• Object Recognition
• Facial Recognition
• Pattern Recognition
• Optical Character Recognition
Image Recognition Application Outlook (Revenue, USD Million, 2014 – 2025)
• Augmented Reality
• Scanning & Imaging
• Security & Surveillance
• Marketing & Advertising
• Image Search
Image Recognition Component Outlook (Revenue, USD Million, 2014 – 2025)
• Hardware
• Software
• Service
Image Recognition Deployment Mode Outlook (Revenue, USD Million, 2014 – 2025)
• On-Premise
• Cloud
Image Recognition Vertical Outlook (Revenue, USD Million, 2014 – 2025)
• Retail & E-commerce
• Media & Entertainment
• BFSI
• Automobile & Transportation
• Telecom & IT
• Government
• Healthcare
• Others
Image Recognition Regional Outlook (Revenue, USD Million, 2014 – 2025)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• Asia Pacific
• China
• Japan
• India
• South America
• Brazil
• Middle East & Africa
Read the Latest Press Releases By Million Insights:
• Plant-based Meat Market – Global plant-based meat market size is estimated to arrive at USD 13.8 billion by 2027. It is projected to develop by 19.4% CAGR, in the period of the forecast. Increasing acceptance of vegetarian eating habits between fitness aware clients, particularly in the developed nations, is projected to impel the expansion of the market for plant-based meat, during the period of the forecast.
• Healthcare Insurance Market – Global healthcare insurance market size is estimated to arrive at USD 4.0 Trillion by 2027. It is projected to develop by 6.7% CAGR in the period of the forecast. Rising healthcare expenditures, growing occurrences of a variety of persistent sicknesses, in addition to the growth in government inventiveness for the health cover proposal, to make better healthcare arrangement are the factors, enhancing the enlargement of the market.
About Million Insights
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.
Media Contact
Company Name: Million Insights
Contact Person: Ryan Manuel
Email: Send Email
Phone: 91-20-65300184
Address:Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar
City: Pune
State: Maharashtra
Country: India
Website: https://www.millioninsights.com/industry-reports/image-recognition-market