Press release
Image Recognition Market to reach USD 88.52 Bn by 2029, emerging at a CAGR of 16 percent and forecast 2023-2029
Image Recognition Market
Report Scope: This comprehensive market research report provides insights into the Image Recognition Market, including market overview, dynamics, drivers, restraints, and regional insights. It also delves into the market's scope, research methodology, and segmentation.
Research Methodology: Our market research is based on real numbers, data from key players, and global market trends over the past five years. We analyze the impact of external factors, such as the lockdown due to the pandemic, to provide an accurate market forecast for 2022 to 2029.
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Image Recognition Market Dynamics:
Drivers:
The Image Recognition Market is driven by the need for efficient retail execution, compliance adherence, and enhanced customer interaction. Companies are adopting image recognition to improve marketing, offline and online product management, and inventory control. The growth of e-commerce has further accelerated the adoption of image recognition for product placement and compliance.
Restraints:
High installation costs and the financial burden of enabling technologies like AI, ML, and computer vision can hinder the adoption of image recognition solutions, particularly for smaller companies. The market is also limited by the high prices of well-known vendor solutions.
Market Opportunities:
Major cloud companies like Google, Microsoft, and AWS are investing heavily in improving their image recognition offerings to enhance online and in-store retail execution. The demand for cloud-based services has surged, leading to increased opportunities for image recognition solutions.
Image Recognition Market Regional Insights:
North America dominated the market in 2021, with rapid growth in cloud-based streaming services. Europe is expected to witness significant growth due to advancements in car obstacle detection technologies. The Asia Pacific is projected to grow at the fastest rate, driven by online streaming popularity and economic growth in countries like China and India.
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Image Recognition Market Segmentation:
by Technology
• Object Recognition
• Code Recognition
• Facial Recognition
• Digital Image Processing
• Others
by Outlook
• Service
• Software
• Hardware
by Application
• Marketing & Advertising
• Scanning & Imaging
• Image Search
• Augmented Reality
• Security & Surveillance
• Others
Image Recognition Market Key Players:
• Wikitude
• Huawei
• Honeywell
• Toshiba
• Oracle
• Trigo
• INFFRD
• AIRY3D
• Standard Cognition
• Unispectral LTD
• Snap2Insight
• restb.ai
• Vize by Ximilar
• Mirror that Lock
• IBM
• Qualcomm
• Microsoft
• AWS
• Trax
• NEC Corporation
• Catchoom
• Slyce
• LTU Tech
• Vispera
• Blippar
• Clarifai
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Table of content for the Image Recognition Market includes:
1. Global Image Recognition Market: Research Methodology
2. Global Image Recognition Market: Executive Summary
• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3. Global Image Recognition Market: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
4. Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
Key Offerings:
• Past Market Size and Competitive Landscape
• Past Pricing and price curve by region
• Market Size, Share, Size and Forecast by different segment | 2023-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by growth and trend
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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