Image Recognition Market Booming by Size, Revenue, Trend and Top Growing Companies 2021-2027 - Microsoft, AWS, OpenCV, Google

The Image Recognition market research report provides an in-depth analysis of the current’s trends, latest developments, scenario, market size, various drivers, restraints, and major players along with their profile details. Research report offers the historic data for year 2021 and 2027 and also provides the forecast data from year 2021 to 2027 which is based on revenue. With the help of all these information research report helps the market participants to improve market positions. With the help of all these insights Image Recognition market research report recommends a business strategy for present market participants to strengthen their position in the market.

The data studied for the preparation of the report takes into account the current major players and the major players that will be listed. Industry top players are: Microsoft, AWS, OpenCV, Google, Sight Machine, Scikit-image, Clarifai, Ximilar, Hive, IBM, Alibaba, Sighthound

The Global Image Recognition Market Size is Projected to Reach at a CAGR of 18.88% during 2021-2027.

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Market Overview

The adoption of artificial intelligence (AI) technology is rising, owing to its ability to enhance and automate operations and enrich the user experience. Governments are also focusing on increasing their AI capabilities to revolutionize various sectors, from healthcare to transport. EU has committed to invest EUR 1.5 billion in AI to catch up with the United States and Asia.
With AI becoming the core of many technology-based applications, the investments in the sector are growing. Image recognition stands as one of the standard features for many AI-related applications. Thus, the market is expected to leverage the fast-growing technology and expand in the coming years.

Covid-19 Impact and Recovery Analysis:

The number one goal of this Image Recognition Market document is to provide Quantitative records withinside the form of charts and graphs. The information regarding market fundamentals is provided surely for the sake of readers. All the readers on the side of stakeholders will understand the market situations and business enterprise environment because it needs to be through this properly-planned Market analysis. It turns smooth to collect the effect of COVID-19 on the market boom through this Image Recognition market document.

Image Recognition market Segmentation By Type:

On-Premises

Cloud Based

Image Recognition market Segmentation By Application:

Large Enterprised

SMEs

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Key Market Trends

Banking Sector is Expected to Witness Significant Growth

Images are real and extensive, and unlike other forms of data, they also cannot be forged easily. These characteristics make the images, repositories of big data, and hence, exploiting such valuable data can be a great source of information for banks and financial institutions.
The BFSI industry has been a major benefactor of AI, with firms in the industry relying on the technology for a diverse range of applications, like staying competitive in a continuously evolving market, personalizing communication with customers, and improving the productivity drastically through automation of monotonous tasks (which are major tasks due to the conventional infrastructure in a number of old school financial institutions).

Regional Analysis:

Asia-Pacific Expected to Witness Rapid Growth

Image recognition solutions have been gaining prominence incessantly in Asia-Pacific, particularly to cater to the growing need for security solutions due to the advent of smart homes and smart city initiatives in the developing economies in the region.
With the growing e-commerce segment in the retail industry in the recent past in the region, vendors in the market are investing majorly in image recognition technologies to offer an enhanced digital experience to consumers. 
Company preferences for different platforms vary greatly in this region, with AI vendors in China preferring Tensor Flow or Caffe, whereas companies in Singapore prefer Microsoft CNTK, and companies in Japan prefer Chainer Software, to support AI technologies. The ease of availability of such platforms has created huge potential opportunities for vendors to leverage these advanced technologies to develop tools for critical business needs. 
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

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Competitive Landscape

March 2019 - Amazon Rekognition launched enhanced face analysis. This is the fifth model update overall since the service launched. Face analysis generates rich metadata about detected faces in the form of gender, age range, emotions, attributes such as ‘Smile’, ‘Eyeglasses’ and ‘Beard’, face pose, face image quality, and face landmarks.
April 2019 - Google partnered with Atos in opening its new AI laboratory in Paris. The facility will enable the customers and private and public organizations to identify use cases for AI, co-create and prototype workable AI solutions, and drive adoption of the rapidly developing technology.

Significant Features and Key Highlights of the Reports:

– Detailed overview of Image Recognition Market

– Changing market dynamics of the industry

– In-depth market segmentation by Type, Application etc.

– Historical, current and projected market size in terms of volume and value.

– Recent industry trends and developments

– Competitive landscape of Image Recognition Market

– Strategies of key players and product offerings

– Potential and niche segments/regions exhibiting promising growth.

The report gives answers to the following:

What strategies are followed by key players to fight this Covid-19 situation?
What are the essential matters drivers, opportunities, challenges, and dangers of the market will face surviving?
Which are the leading market players in the Image Recognition industry?
What is the predicted compound annual growth rate (CAGR) of the global marketplace during the forecast period (2021-2027)?
What could be the anticipated value of the Image Recognition marketplace in the during the forecast period?
Impact of COVID-19:

The research includes historic data from 2016 to 2021 and forecasts until 2027 which makes the Image Recognition market report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Customization: -

The Global Image Recognition Market report may be modified to meet your specific business needs. Because we understand what our clients want, we provide up to 20% customization for any of our Market Intelligence Data reports at no additional cost to all of our Users.

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