Oct 16, 2019 (Reporthive Research via COMTEX) — Global image recognition market was valued at $17,911 million in 2017, and is expected to reach $86,001 million by 2024, growing at a CAGR of 20.8% from 2019 to 2024.
Image Recognition Market report effect factors have also been discussed in the report. It further provides data on the market shares, strategies, and manufacturing cost structure along with Key Players and their profiles.
North America dominated the overall market in 2017, owing to the rise in the number of electronic gadgets and smartphone users integrated with image recognition applications in this region. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period primarily due to the growing trend towards e-governance in the region.
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The rise in popularity of media cloud services, technological advancements in facial recognition technology, surge in mobile devices equipped with cameras and increase in demand for security applications and products enabled with image recognition functions drive the market growth. However, high initial cost of installation would hamper the image recognition market growth during the forecast period. Furthermore, supportive regulations that mandate the use of image recognition solutions and rising demand of image recognition in healthcare industry are expected to provide lucrative opportunities for the market.
Key Players Covered In This Report:
Qualcomm
NEC
LTU Technologies
Catchoom Technologies
Honeywell and more
Image recognition technology is the process of identifying and detecting an object or a feature in a digital image or video. The field of image recognition has gained widespread acclaims in the past few years. 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 different variables in pictures with the help of artificial intelligence. This concept is used in many applications such as smart photo libraries, targeted advertising, security surveillance, toll booth monitoring, and systems for factory automation. Numerous companies, such as Microsoft, Google, Facebook, Apple, and Pinterest have invested heavily in research to develop image recognition and related applications.
Segmentation by product type:
Code Recognition
Digital Image Processing
Facial Recognition
Object Recognition
Pattern Recognition
Optical Character Recognition
Segmentation by application:
BFSI
Media & Entertainment
Retail & Consumer Goods
IT & Telecom
Government
Healthcare
Transportation & Logistics
Others
Key Questions Answered in This Report:
How has the global Image Recognition market performed so far and how will it perform in the coming years?
What are the key regions in the global Image Recognition market?
What are the key driving factors and challenges in the global Image Recognition market?
What is the structure of the global Image Recognition market and who are the key players?
What is the degree of competition in the global Image Recognition market?
How are Image Recognition manufactured?
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Table of Contents
1 Executive Summary Market Attractiveness Analysis
1.1 Global Image Recognition Market, by Product Type
1.2 Global Image Recognition Market, by End User
1.3 Global Image Recognition Market, by Region
2 Market Introduction
2.1 Definition
2.2 Scope of the Study
2.3 Market Structure
2.4 Key Buying Criteria
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 List of Assumptions
4 Market Dynamics
4.1 Introduction
4.1 Drivers
4.2. Integration of Advanced Technologies
4.3 Restraint
4.4 Opportunities
5 Market Factor Analysis
5.1 Supply Chain Analysis
5.2 Porter's Five Forces Analysis
5.2.1 Threat of New Entrants
5.2.2 Bargaining Power of Suppliers
5.2.3 Threat of Substitutes
5.2.4 Bargaining Power of Buyers
5.2.5 Intensity of Rivalry
6 Market Channel
6.1 Overview
6.2 Store-Based
6.3 Non-Store-Based
7 Global Image Recognition Market, by Product Type
8 Global Image Recognition Market, by End User
9 Global Image Recognition Market, by Region
…Continued
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COMTEX_354737260/2601/2019-10-16T20:41:23
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