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Image Recognition Market Revenue, Share, Trends, Competitive Analysis, Demand and Opportunities by 2023; NEC Corporation, Toshiba Corporation, Hitachi Ltd., Qualcomm Technologies, Inc., Panasonic Corporation, Honeywell International Inc.
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North America leads the image recognition market followed by Europe owing to the highest implementation of image recognition solutions in the region. The U.S. holds the largest market for image recognition under North America region. The Asia-Pacific image recognition market is expected to grow with an exponential rate in the coming years due to high threats from terrorist attack with the increasing trend towards e-governance in the region. Major users of image recognition technology in the region are Japan and China.
On the basis of applications, the image recognition market can be categorized as scanning and imaging, marketing and promotional activities, quality control and inventory management, security and surveillance, m-commerce, advanced driving assistance, and content management. Security and surveillance includes forensics, and identity and access management. Some of the factors restraining the growth of the image recognition market are lack of user awareness and technological issues.
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Some of the competitors in the image recognition market are NEC Corporation, Toshiba Corporation, Hitachi Ltd., Qualcomm Technologies, Inc., Panasonic Corporation, Honeywell International Inc., Wikitude GmbH, iTraff Technology Sp. z o.o., Catchoom, and LTU Technologies S.A.S.
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