Image recognition Market Size, Insights, Trends & Outlook 2020-2028

The global image recognition market size is expected to reach USD 80.29 Billion at a steady CAGR of 15.3% in 2028, according to latest analysis by Emergen Research. Increasing usage of smartphones globally and rising adoption of Virtual Reality (VR) and Augmented Reality (AR) are key factors driving growth of the global image recognition market.

Image recognition applications include targeted advertising, smart photo libraries, accessibility for the visually impaired, media interactivity, and enhanced research capabilities. Google, Microsoft, Facebook, Pinterest, and Apple are investing in resources and research into image recognition and related applications. Improper data storage, security breaches, and misuse of facial recognition data are some of the primary concerns related to image recognition technology, which could limit adoption in several areas.

We provide detailed product mapping and investigation of various market scenarios. Our expert analysts provide a thorough analysis and breakdown of the market presence of key market leaders. We strive to stay updated with the recent developments and follow the latest company news related to the industry players operating in the global Image recognition market. This helps us to comprehensively analyze the individual standing of the companies as well as the competitive landscape. Our vendor landscape analysis offers a complete study to help you gain the upper hand in the competition.

Research Methodology

Data triangulation and market breakdown

Research assumptions Research data including primary and secondary data

Primary data includes breakdown of primaries and key industry insights

Secondary data includes key data from secondary sources

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Scope of the report: Image recognition Market

The study finds that how on certain account threats and challenges can act as a roadblock for the business. A thorough evaluation of the Image recognition market in the light of macro-environment such as social, political, economical as well as technological environment add granularity to the overall research. In addition, the study produces real-time data on vital aspects including sales, profits, gross margin and growth prospects to show how going forward the business will witness a substantial upswing.  

Image recognition is an important tool in autonomous vehicles used by Uber and Google. The technology detects road signs and obstacles through sensors in front of a vehicle and identifies these with the help of this technology. Computer vision systems powered by deep learning are trained with thousands of images of humans, road signs, and obstacles on the road under different weather and lighting conditions. The intelligence of the system continues to increase as new information is fed in.

North America accounted for largest revenue share in 2020 due to high level of integration of AI in e-commerce and digital shopping. Companies in the region are quick to adopt advanced technologies such as AI, deep learning, and cloud-based technologies, which is propelling growth of the market.

Key players in the market include IBM Corporation, Qualcomm, Honeywell, Toshiba, Microsoft, Huawei, Oracle, NEC Corporation, Catchoom, and Slyce.

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Important Points Mentioned in the Image recognition Market Study

Manufacturing Analysis: The report initially analyzes the various segments of the market in a brief manner, which includes product types, applications, and so on. Further, the report consists of a separate section wherein an in-depth analysis of the manufacturing process has been provided which has been verified thorough primary information collected by experts of reputed industries as well as the industry analysts.

Sales and Revenue Estimation: By applying several top-down and bottom-up approaches on the previous years’ sales and revenue data as well as the present market scenario, the analysts have anticipated the market growth and size in major geographies. The report further includes an all-inclusive study on the applications and end-user industries participating in the market. Furthermore, the report provides crucial data on the regulatory policies and guidelines, as well as the macro-economic factors, that determine the evolution of the market along with predictive analysis.

Demand & Supply Assessment: The report further offers key information on the manufacturing and cost analysis, consumption ration, import/export factors, and product and service distribution.

Competitiveness: The report provides crucial data based on the company profile, product portfolio, product and service cost, potential, and sales and revenue generated by the key pioneers and other leading companies.

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Emergen Research has segmented the global image recognition market on the basis of component, application, deployment mode, technique, industry vertical, and region:

Component Outlook (Revenue, USD Billion; 2018–2028)

Hardware

Software

Services

Application Outlook (Revenue, USD Billion; 2018–2028)

Security and Surveillance

Scanning and Imaging

Augmented Reality

Image Search

Marketing and Advertising

Deployment Mode Outlook (Revenue, USD Billion; 2018–2028)

On-premises

Cloud

Technique Outlook (Revenue, USD Billion; 2018–2028)

Object Recognition

QR/ Barcode Recognition

Pattern Recognition

Facial Recognition

Optical Character Recognition

Industry Vertical Outlook (Revenue, USD Billion; 2018–2028)

Media & Entertainment

Healthcare

Retail & E-commerce

BFSI

IT & Telecom

Automobile & Transportation

Government

Others

Regional scope: – North America; Europe; Asia Pacific; Central & South America; MEA

Here are the questions we answer…

What are the future opportunities in store for the vendors operating in the Image recognition market?

What does the competitive landscape look like?

Which emerging technologies are believed to impact the Image recognition market performance?

What are the key trends and dynamics?

Which regulations that will impact the industry?

Which segment will offer the most opportunity for growth between 2020 and 2028?

Where will most developments take place in the long term?

Who are the most prominent vendors and how much market share do they occupy?

What are the latest technologies or discoveries influencing the Image recognition market growth worldwide?  

Subject matter experts conducting the study also take a closer look at the products at their development stage and in the pipeline to help business owners conclude on the business strategies that can lower their cost and promise great returns or profits. Strong emphasis on new launches, acquisition and mergers, collaboration, import and export status and supply chain management empowers the business evangelists, manufacturers and business owners build a robust strategy when it comes to making an investment.

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Table of Content

Chapter 1. Methodology & Sources

    1.1. Market Definition

    1.2. Research Scope

    1.3. Methodology

    1.4. Research Sources

          1.4.1. Primary

          1.4.2. Secondary

          1.4.3. Paid Sources

    1.5. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2019-2028

Chapter 3. Key Insights

Chapter 4. Image recognition Market Segmentation & Impact Analysis

    4.1. Image recognition Market Segmentation Analysis

    4.2. Industrial Outlook

          4.2.1. Market indicators analysis

          4.2.2. Market drivers analysis

                    4.2.2.1. The rising tissue engineering market

                    4.2.2.2. Increasing developments in nanotechnology

                    4.2.2.3. Increasing aging population

                    4.2.2.4. Growing investment in research

          4.2.3. Market restraints analysis

                    4.2.3.1. Strict medical standards

                    4.2.3.2. Stringent regulatory guidelines

    4.3. Technological Insights

    4.4. Regulatory Framework

    4.5. Porter’s Five Forces Analysis

    4.6. Competitive Metric Space Analysis

    4.7. Price trend Analysis

    4.8. Covid-19 Impact Analysis

Chapter 5. Image recognition Market By Products Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)

Chapter 6. Image recognition Market By Types Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)

Chapter 7. Image recognition Market By Applications Insights & Trends Revenue (USD Million), Volume (Kilo Tons)

Chapter 8. Image recognition Market By End Use Insights & Trends Revenue (USD Million), Volume (Kilo Tons)

Chapter 9. Image recognition Market Regional Outlook

Chapter 10. Competitive Landscape

Continued…

Contact Information:

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Eric Lee
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Emergen Research | Web: www.emergenresearch.com
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