Image Recognition in Retail Market Is Booming Worldwide with Google, Microsoft, Trax

The Latest Released Image Recognition in Retail market study has evaluated the future growth potential of Image Recognition in Retail market and provides information and useful stats on market structure and size. The report is intended to provide market intelligence and strategic insights to help decision-makers take sound investment decisions and identify potential gaps and growth opportunities. Additionally, the report also identifies and analyses changing dynamics, and emerging trends along with essential drivers, challenges, opportunities, and restraints in the Image Recognition in Retail market. The study includes market share analysis and profiles of players such as IBM (United States), AWS (United States), Google (United States), Microsoft (United States), Trax (Singapore), Intelligence Retail (United States), Snap2Insight (United States), Intel (United States), NVidia Corporation (United States), NEC (Japan)

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According to HTF Market Intelligence, the Global Image Recognition in Retail market to witness a CAGR of 21.34% during forecast period of 2023-2029. The market is segmented by Application (Scanning & Imaging, Image Search, Security & Surveillance, Augmented Reality, Marketing & Advertising, Others) by Component (Hardware, Software, Services) by Technology (Digital Image Processing, Code Recognition, Optical Character Recognition, Object Recognition, Pattern Recognition) and by Geography (North America, South America, Europe, Asia Pacific, MEA).

Definition:
The growing retail industry in the COVID 19 pandemic is expected to witness high demand for Image Recognition in the Retail market in the forecasted period. The image recognition technology can be used for retail applications to process, analyze, and understanding images. Image recognition is used to perform a large number of machine-based visual tasks, such as labeling the content of images with meta-tags, performing image content search, and guiding autonomous robots, self-driving cars, and accident avoidance systems. This is beneficial for the retail industry. Thus, Many retailers are implementing Artificial Intelligence as well as image recognition technology in retail to deliver the next level of customer experience. Image recognition in retail includes technologies to enhance the in-store experiences of customers. Since the disease is spreading enormously, shoppers are avoiding crowded places and are not gathering at public places such as malls and stores. The technological advancement associated with Image Recognition in Retail can create lucrative opportunities in the forecasted period.

Market Trends:
• Upsurging technological developments to boost the adoption of image recognition solutions among retailers
• Hugh demand for brand recognition among end-users

Market Drivers:
• High demand due to rise on-shelf availability
• High Adoption due to enhance customer experience, and maximize RoI due to COVID-19

Market Opportunities:
• The growing requirement to make informed decisions among retailers
• High demand for cloud-based image recognition solutions

Revenue and Sales Estimation - Historical Revenue and sales volume are presented and further data is triangulated with top-down and bottom-up approaches to forecast complete market size and to estimate forecast numbers for key regions covered in the report along with classified and well-recognized Types and end-use industry.

SWOT Analysis on Image Recognition in Retail Players
In addition to Market Share analysis of players, in-depth profiling, product/service, and business overview, the study also concentrates on BCG matrix, heat map analysis, FPNV positioning along with SWOT analysis to better correlate market competitiveness.

Demand from top-notch companies and government agencies is expected to rise as they seek more information on the latest scenario. Check the Demand Determinants section for more information.

Regulation Analysis
• Local System and Other Regulation: Regional variations in Laws for the use of Image Recognition in Retail
• Regulation and its Implications
• Other Compliances

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FIVE FORCES & PESTLE ANALYSIS:

In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.

• Political (Political policy and stability as well as trade, fiscal, and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research, and development)
• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
• Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)

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Heat map Analysis, 3-Year Financial and Detailed Company Profiles of Key & Emerging Players: IBM (United States), AWS (United States), Google (United States), Microsoft (United States), Trax (Singapore), Intelligence Retail (United States), Snap2Insight (United States), Intel (United States), NVidia Corporation (United States), NEC (Japan)

Geographically, the following regions together with the listed national/local markets are fully investigated:
• APAC (Japan, China, South Korea, Australia, India, and the Rest of APAC; the Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, UAE, South Africa)

Some Extracts from Image Recognition in Retail Market Study Table of Content

Image Recognition in Retail Market by Application/End Users [Scanning & Imaging, Image Search, Security & Surveillance, Augmented Reality, Marketing & Advertising, Others]
Global Image Recognition in Retail Sales and Growth Rate (2019-2029)
Image Recognition in Retail Competition by Players/Suppliers, Region, Type, and Application
Image Recognition in Retail (Volume, Value, and Sales Price) table defined for each geographic region defined.
Supply Chain, Sourcing Strategy and Downstream Buyers, Industrial Chain Analysis
........and view more in complete table of Contents

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