Image Recognition in Retail Market Expected to Grow at 3.7 Billion In Revenue by 2025

The report titled “Image Recognition in Retail Market” sheds a concentrated focus on the Image Recognition in Retail industry in terms of market driver, opportunities, restraints of global segmentation. Further data on the reports also includes demographic conditions, over-turning changing business cycles and analyzing country-to-market.

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The Global Image Recognition in Retail Market size is expected to grow from an estimated value of USD 1.4 Billion in 2020 to USD 3.7 Billion by 2025, at a Compound Annual Growth Rate (CAGR) of 22.0% during the forecast period.

Top Companies Profiled in the Image Recognition in Retail Market:
• Google (US)
• Microsoft (US)
• AWS (US)
• IBM (US)
• Trax (Singapore)
• NEC Corporation (Japan)
• Qualcomm (US)
• Slyce (US)
• Catchoom (Spain)
• Intelligence Retail (US)
• Imagga (Bulgaria)
• Vispera (Turkey)
• Snap2Insight (US)
• ParallelDots (US)
• Clarifai (US)
• Deepomatic (France)
• Blippar (UK)
• Ricoh Innovations (US)
• LTU (France)
• ShelfWise (Poland)
• Trigo (Israel)
• Wikitude (Austria)
• Standard Cognition (US)
• Huawei (China)
• Honeywell (US)
• Zippin (US)

The recent COVID-19 pandemic is expected to impact the global retail industry. The prime impact of COVID-19 observed on the image recognition in retail market is reduction in in-store shoppers, resulting in a reduction in retail sales. Image recognition in retail includes technologies to improve the in-store experiences of customers.

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“Services segment to grow at a higher CAGR during the forecast period”
Services form an integral part of the image recognition in retail software life cycle; they include implementation, deployment, product upgrades, maintenance, and consulting. The services segment has been classified into professional and managed services. With the increasing adoption of the image recognition in retail software solutions, the need for these services is expected to increase, as they help companies reduce costs, increase the overall revenue, and enhance the overall performance of employees and organizations alike.

“Software segment to account for a higher market share during the forecast period”
API combines technologies, automates several processes, and categorizes them to search through a large image collection or databases. API servers analyze images from the existing database and retrieve image features, such as image type, class, and colors, and image metadata, such as tags. It further allows users to store information and images in the database to maintain and organize their collections more effectively.

Breakdown of primary participants’ profile:
• By Company type: Tier 1:38%, Tier 2:42%, and Tier 3: 20%
• By Designation: C-level:32%, Directors:36%, and Others: 32%
• By Region: North America: 35%, Europe: 27%, APAC:23%, and RoW:15%

Competitive Landscape of Image Recognition in Retail Market:
1 Introduction
1.1 New Solution Launches/Solution Enhancements
1.2 Partnerships And Collaborations
1.3 Mergers And Acquisitions
2 Competitive Leadership Mapping
2.1 Visionary Leaders
2.2 Innovators
2.3 Dynamic Differentiators
2.4 Emerging Companies

Reason to access this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall image recognition in retail market and the sub segments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.

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This release was published on openPR.