The Global Image Recognition Market Size is estimated to expand rapidly in coming years, at a CAGR of 19.35 % from 2019 to 2025. The global market value is anticipated to be greater than USD xx.xx billion by 2025. Image recognition is an ability of system or software to identify objects, people, action and places in images. It uses machine vision technologies with artificial intelligence and trained algorithms to recognize through the camera system. Image recognition is used for verification and identification of the individuals. According to the research, North America is expected to be the largest growing industry in the market of image recognition.

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global medical device contract manufacturing market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global optical character recognition market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.

Segment Analysis

By Component Type Insights: on the basis of component type, global image recognition market has been segmented into hardware, software and service based industry. Installation of this system on the cloud and on premises is the sub-segments on the basis of component type. According to the research cloud based systems has dominated the market in forecast period owing to the property of data security provided by cloud.

By Application Insights: On the basis of application, global image recognition market has been segmented into object detection, QR/ barcode detection, facial and pattern recognition, surveillance, marketing and advertising and others. Among which object detection and facial and pattern detection techniques are expected to dominate the market in upcoming time period owing to the easy internet accessibility and technological advancements. Rising use of telephones and large investment made by key players such as Apple, Huawei and Samsung to add AI capabilities for the facial recognition is expected to boost the market in upcoming time span.

By End user Insights: on the basis of end user, global image recognition market has been segmented into IT and telecommunication industry, BFSI, healthcare, government, media and entertainment, manufacturing and others. Amongst which government and IT sector is expected to witness high growth in terms of revenue in forth coming period. Growing integration of image recognition in various application such as shopping, document verification has led to the high growth in the market of image recognition.

Regional Analysis

The global image recognition market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players. In terms of region Asia Pacific region is expected to witness high growth in the global market in upcoming forecast owing to the easy internet accessibility along with growing digital and media market in emerging countries such as India, Japan, China and others. Middle East and Africa held the measurable growth in the global market in 2018 and will expand at the significant CAGR during the forecast years.    

Global Image Recognition Market Size, Share Analysis By Region 2017

North America is expected to witness high growth in upcoming time span due to high demand in It and telecommunication sector. Technical advancements and government’s insistence for providing highly efficient image recognition software is also one of the reason behind market uplifting. Europe is anticipated to dominate the global image recognition market over the projected period majorly owing to better technological connectivity and highly cost-effective business strategies.

Global Image Recognition Market Study Objective

1. To forecast the market size of global image recognition market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.

2. Market analysis and forecast of global image recognition market on the basis of region, substrate and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

3. To analyze and elaborate significant factors that will have major impact on the growth of global image recognition market, such as drivers, restraints, challenges and opportunities.

4. Regional analysis of global image recognition market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.

5. Strategic analysis of micro markets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

6. To provide detailed analysis of competitive and strategic developments in the global image recognition market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

Key Players Landscape

Catchoom, Google, LTU technologies, Panasonic, Toshiba, Hitachi Ltd. are some of the key players in the market of Image recognition.

Global Image Recognition Market Study Report Offer You!

The global market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.