The increasing need for security applications and demand for the products enabled with image recognition function, utilization of the data service with high bandwidth are the major factor propelling the growth of the market.
JERSEY CITY, N.J, Oct. 4, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Image Recognition Market" By Technology (Object Recognition, Facial Recognition, Digital Image Processing, Code Recognition), By Application (Security & Surveillance, Scanning & Imaging, Image Search, Augmented Reality), and By Geography. According to Verified Market Research, the Global Image Recognition Market size was valued at USD 30.28 Billion in 2020 and is projected to reach USD 115.56 Billion by 2028, growing at a CAGR of 18.25% from 2021 to 2028.
Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample/?rid=33557
Browse in-depth TOC on "Image Recognition Market"
202 - Pages
126 - Tables
37 - Figures
Global Image Recognition Market Overview
Image processing and recognition have evolved with numerous powerful applications, such as security and surveillance, and medical imaging that have created great value from a business perspective. Functions of figure identification, such as facial or object recognition, visual geolocation, barcode reading, and automated driver assistance, among other industrial automation-related functions, have demonstrated the versatility of this technology.
Image recognition solutions are revolutionizing the way companies manage customer interactions, market products online and offline, and manage store inventory. Image recognition technology is increasingly being used to search for products online for purchase. For example, Snapchat's parent company, Snap, is currently working on developing a visual product feature in Snapchat that will leverage image recognition technology and help users to take pictures of products in the real world; and identify, browse, and purchase items on Amazon. With the boom in the e-commerce industry, even more so during the pandemic, entrepreneurs and retailers have realized that conventional strategies of sales promotions, marketing, and visual merchandising will not be sustainable in the industry in the long term. Hence, retailers are quickly adapting to the new era of AI and image recognition to deliver a next-level customer experience.
Key Developments in Image Recognition Market
- Trax acquired Survey.com in March 2020 to merge the two firms' technologies, respond to the demands of rising food merchants, and strengthen its position in the retail image recognition sector.
- Trax collaborated with Google Cloud in early 2019 to use Google's cloud and edge computing technology, as well as Trax's image recognition and machine learning capabilities, to successfully manage in-store inventory and every SKU on the shelf with actionable real-time data.
The major players in the market are Google, LLC, NEC Corporation, Qualcomm Technologies, Inc., LTU Technologies, Catchoom Technologies S.L., Honeywell International Inc, Hitachi, Ltd., Slyce, Wikitude GmbH, and Attrasoft, Inc.
Verified Market Research has segmented the Global Image Recognition Market On the basis of Technology, Application, and Geography.
- Image Recognition Market, By Technology
- Object Recognition
- Facial Recognition
- Digital Image Processing
- Code Recognition
- Others
- Image Recognition Market, By Application
- Security & Surveillance
- Scanning & Imaging
- Image Search
- Augmented Reality
- Marketing & Advertising
- Others
- Image Recognition Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
Browse Related Reports:
Data Annotation Service Market By Product (Text, Image), By End User (Government, Enterprise), By Geography, Forecast, 2020-2027
Surgical Imaging Market By Technology (Image Intensifier C-Arms, Flat Panel Detector C-Arms), By Application (Cardiovascular Surgeries, Gastrointestinal Surgeries, Orthopedic and Trauma Surgeries, Neurosurgeries), By End-Users (Hospitals, Surgery Centers & Clinics), By Geography, Forecast, 2020-2027
Image Guided Surgical Equipment Market By Type (??m?ut?d ??m?gr??h? ???nn?r?, Ultr???und ???t?ms, ??gn?t?? R???n?n?? ?m?g?ng), By Application (Heart Surgery, Neurosurgery, Surgical Oncology), By Geography, Forecast, 2020-2027
3D Imaging Market By Hardware (3D Sensor and 3D Display), By Imaging Solution (Image Reconstruction, Layout and Animation, 3D Modeling, 3D Rendering, 3D Scanning), By Vertical (Education, Media and Entertainment, Healthcare and Life Sciences), By Geography, Forecast, 2020-2027
Top 7 speech and voice recognition companies powering users' lives
Visualize Image Recognition Market using Verified Market Intelligence:-:
Verified Market Intelligence is our BI Enabled Platform for narrative storytelling of this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue impacting decisions for a brilliant future.
VMI provides a holistic overview and global competitive landscape with respect to Region, Country, and Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.
About Us
Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SME's offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.
We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & construction, Agriculture industry and Medical Devices from over 100 countries.
Contact Us
Mr. Edwyne Fernandes
Verified Market Research
US: +1 (650)-781-4080
UK: +44 (753)-715-0008
APAC: +61 (488)-85-9400
US Toll Free: +1 (800)-782-1768
Email: sales@verifiedmarketresearch.com
Web: https://www.verifiedmarketresearch.com/
Follow Us: LinkedIn | Twitter
Logo: https://mma.prnewswire.com/media/1315349/Verified_Market_Research_Logo.jpg
