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(IT-NEWSWIRE.COM, February 03, 2019 ) Image Recognition Market Overview:
Image recognition technology detects and identifies objects and features in a digital image and works with the help of various types of algorithms, such as pattern matching and gradient matching, optical character recognition, and face recognition. It has numerous applications such as publishing, traffic management, advertising, e-commerce, and security. Image recognition system uses the data shared by users through various platforms such as social networks, apps, and websites. It uses a technology that detects places, people, items, buildings, logos, and various variables in image with the help of artificial intelligence. Companies are using huge digital data to bring better and niftier facilities to customers. Image recognition is used to perform several machine-based visual tasks, which include performing image content search and guiding autonomous robots, labeling the content of images with meta-tags, self-driving cars, and accident avoidance systems, and others.
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The market is driven by factors such as ongoing technological advancements in image recognition and rise in demand for image recognition applications in media, retail, and marketing. However, high product cost coupled with image recognition system act as major deterrents to the market growth. Furthermore, surge in need for using data analytics is believed to create significant demand for the image recognition market. Besides, rise in adoption of facial recognition access systems as compared to card systems in residences and industries provide opportunities for the growth of the market.
The global image recognition market is segmented based on deployment mode, component, industry verticals, technology, applications, and regions. Based on deployment mode, the market is bifurcated into cloud and on premise. In terms of component, the market is categorized into hardware, software, and service. In terms of industry vertical, the market is classified into IT & telecom, BFSI, healthcare, retail, government, media & entertainment, transportation & logistics, manufacturing, and others. Based on technology, the market is segmented into object detection, QR/barcode recognition, facial recognition, pattern recognition, and optical character recognition. Based on application, scanning & imaging, security & surveillance, image search, augmented reality, marketing & advertisement. Based on the region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The global image recognition market is dominated by the key players such as IBM Corporation, Imagga Technologies Ltd., Amazon Web Services, Inc., Qualcomm Incorporated, Google LLC, Microsoft Corporation, NEC Corporation, LTU technologies, Catchoom Technologies S.L., and Intel Corporation
Key Benefits for Image Recognition Market:
The study provides an in-depth analysis of the global image recognition market and current & future trends to elucidate the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analyses on the market is provided.
Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the global image recognition industry.
The quantitative analysis of the global image recognition market from 2017 to 2025 is provided to determine the market potential.
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Image Recognition Key Market Segments:
By Deployment Mode
On premise
Cloud
By Component
Hardware
Software
Service
By Industry Vertical
IT & Telecom
BFSI
Healthcare
Retail
Government
Media & Entertainment
Transportation & Logistics
Manufacturing
Others
By Technology
Object Detection
QR/Barcode Recognition
Facial Recognition
Pattern Recognition
Optical Character Recognition
By Application
Scanning & Imaging
Security & Surveillance
Image Search
Augmented Reality
Marketing & Advertising
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By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
Singapore
Australia
South Korea
Rest of APAC
LAMEA
Latin America
Middle East
Africa
Qurate Business Intelligence
Nehal Chinoy
+919881074592
nehal@qurateresearch.com
Source: EmailWire.Com 
Source: EmailWire.com
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