According to the most recent research by Emergen Research, the size of the worldwide image recognition market is anticipated to reach USD 80.29 billion in 2028 at a consistent CAGR of 15.3%. The global market for image recognition is expanding as a result of increased smartphone usage and the uptake of Virtual Reality (VR) and Augmented Reality (AR).
A thorough and important study, the Image Recognition Market research report offers business strategies, qualitative and quantitative analysis, and developing trends in the market. The important components of the worldwide Image Recognition Market are thoroughly researched and analysed in the study. After performing a thorough analysis of the Image Recognition Market's drivers, restraints, challenges, trends, and opportunities, the research analysts developed this report.
Increasing demand for facial recognition in tablets, smartphones, and personal computers as a result of technology improvements is one of the other drivers. Government budget increases for defence and homeland security in nations like China, Russia, and India are also making a sizable contribution to the market's expansion. Officials from the Department of Homeland Security provided details on the administration's deployment of face recognition technology across the United States in February 2021. Several systems have scanned more than 43.7 million people thus far at ports of entry, departing ships, and other locations. Face recognition helped authorities identify 252 people who were trying to use a total of 75 other people's U.S. travel documents. Of these, 20% had criminal history and about 7% were under the age of 18.
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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Image recognition market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Companies Profiled in the Report are:
IBM Corporation, Qualcomm, Honeywell, Toshiba, Microsoft, Huawei, Oracle, NEC Corporation, Catchoom, and Slyce
How will this Report Benefit you?
An Emergen Research report of 250 pages features 194 tables, 189 charts, and graphics. Our new study is ideal for anyone who wants to learn about the global Image recognition market commercially and deeply, as well as to analyze the market segments in depth. With the help of our recent study, you can analyze the entire regional and global market for Image recognition. To increase market share, you must obtain financial analysis of the entire market and its segments. Our research suggests there are significant opportunities in this rapidly expanding market for energy storage technology. Look at how you might take advantage of these revenue-generating opportunities. Additionally, the research will help you develop growth strategies, strengthen competitor analysis, and improve business productivity by enabling you to make better strategic decisions.
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Some Key Highlights in the Report
- The software segment accounted for largest revenue share in 2020 due to a sudden and rapid increase in adoption of image recognition software in computer graphics, medical imaging, and photo editing, among others. Rapidly growing trends of industry automation and Industry 4.0 are driving adoption of image recognition software, and the trend is expected to continue over the forecast period.
- Image recognition or tracking is used in augmented reality to track, detect, and augment 2D images. Image tracking is dependent on advanced computer vision technology to track and augment images. Jack Daniels augmented reality app turns whisky bottles into pop-out storybooks. The free app uses a tablet or smartphone camera to recognize the sticker on the bottle and unfolds the whole manufacturing process of the drink in a matching black and white pop-up book.
- Image recognition is an important tool in autonomous vehicles used by Uber and Google. The technology detects road signs and obstacles through sensors in front of a vehicle and identifies these with the help of this technology. Computer vision systems powered by deep learning are trained with thousands of images of humans, road signs, and obstacles on the road under different weather and lighting conditions. The intelligence of the system continues to increase as new information is fed in.
- North America accounted for largest revenue share in 2020 due to high level of integration of AI in e-commerce and digital shopping. Companies in the region are quick to adopt advanced technologies such as AI, deep learning, and cloud-based technologies, which is propelling growth of the market.
What Questions Should You Ask before Buying a Market Research Report?
- How is the Image recognition market evolving?
- What is driving and restraining the Image recognition market?
- How will each Image recognition submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2028?
- How will the market shares for each Image recognition submarket develop from 2021 to 2028?
- What will be the main driver for the overall market from 2021 to 2028?
- Will leading Image recognition markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
- How will the market shares of the national markets change by 2028 and which geographical region will lead the market in 2028?
- Who are the leading players and what are their prospects over the forecast period?
- What are the Image recognition projects for these leading companies?
- How will the industry evolve during the period between 2021 and 2028? What are the implications of Image recognition projects taking place now and over the next 10 years?
- Is there a greater need for product commercialisation to further scale the Image recognition market?
- Where is the Image recognition market heading and how can you ensure you are at the forefront of the market?
- What are the best investment options for new product and service lines?
- What are the key prospects for moving companies into a new growth path and C-suite?
You need to discover how this will impact the Image recognition market today, and over the next 10 years:
- Our 250-page report provides 194 tables and 189 charts/graphs exclusively to you.
- The report highlights key lucrative areas in the industry so you can target them – Now.
- It contains in-depth analysis of global, regional and national sales and growth.
- It highlights for you the key successful trends, changes and revenue projections made by your competitors.
This report tells you Today how the Image recognition market will develop in the next 10 years, and in line with the variations in COVID-19 economic recession and bounce. This market is more critical now than at any point over the last 10 years.
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The report bifurcates the Image recognition market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Component Outlook (Revenue, USD Billion; 2018-2028)
- Application Outlook (Revenue, USD Billion; 2018-2028)
- Security and Surveillance
- Scanning and Imaging
- Augmented Reality
- Image Search
- Marketing and Advertising
- Deployment Mode Outlook (Revenue, USD Billion; 2018-2028)
Forecasts to 2028 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2028, our new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising Image recognition prices and recent developments.
This report includes data analysis and invaluable insight into how COVID-19 will affect the industry and your company. Four COVID-19 recovery patterns and their impact, namely, “V”, “L”, “W” and “U” are discussed in this report.
How will the Image recognition Market, 2021 to 2028 report help you?
In summary, our 250-page report provides you with the following knowledge:
- Revenue forecasts to 2028 for Image recognition Market, 2021 to 2028 Market, with forecasts for include report segmentation and company size, each forecast at a global and regional level – discover the industry’s prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2028 for four regional and 20 key national markets – See forecasts for the Image recognition Market, 2021 to 2028 market in North America, Europe, Asia-Pacific and LAMEA. Also forecasted is the market in the US, Canada, Mexico, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market – including company profiles for 15 of the major companies involved in the Image recognition Market, 2021 to 2028.
Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with invaluable business intelligence.
Information found nowhere else
With our new report, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Emergen Research study is for everybody needing commercial analyses for the Image recognition Market, 2021 to 2028, market-leading companies. You will find data, trends and predictions.
The content of each profile differs, depending on the organization. In general, a profile gives the following information:
- Overview of the company’s Image recognition products services
- Analysis of recent financial performance–annual revenue of the companies
- Assessment of developments–activities, acquisitions, production capacity, deals, new service offerings and collaborations
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