Press release
Image Recognition Market 2020 Latest Report | High Growth Opportunities to Generate Huge Acquisition in Forthcoming Years, Trending Report with Analysis of Market Players IBM Corporation, Imagga Technologies Ltd., Amazon Web Services, Inc., Qualcomm Incor
Image Recognition Market
Rise in popularity of media cloud services, technological advancements in facial recognition technology, the surge in mobile devices equipped with cameras and increase in demand for security applications and products that are enabled with image recognition functions, majorly supplement the growth of the market. However, the high cost of installation of image recognition systems is expected to hamper the market growth.
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The report offers key drivers that propel the growth in the Image Recognition Market. These insights help market players in devising strategies to gain market presence. The research also outlined restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining potential in untapped regions.
Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the business for future challenges in advance.
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Based on the component, the services segment dominated the global image recognition market in 2017 and is expected to continue this trend during the forecast period owing to the growth in demand for managed network security services as well as media cloud services.
The market is analyzed based on regions and competitive landscape in each region is mentioned. Regions discussed in the study include North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). These insights help to devise strategies and create new opportunities to achieve exceptional results.
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Some of the key image recognition market players profiled in the report include IBM Corporation, Imagga Technologies Ltd., Amazon Web Services, Inc., Qualcomm Incorporated, Google LLC, Microsoft Corporation, NEC Corporation, LTU technologies, Catchoom Technologies S.L., and Intel Corporation.
In 2017, the retail segment was the highest contributor to the global image recognition market and is projected to remain dominant during the forecast period. However, the healthcare segment is expected to witness the highest growth, as the adoption of image recognition solutions has increased in imaging examinations to prevent diagnostic errors, and enable sustained productivity.
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