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Global $53 Billion Image Recognition Market to 2025: Opportunities in the Integration of AI Capabilities with Image Recognition Solutions

Research and Markets
·6-min read

Dublin, Jan. 18, 2021 (GLOBE NEWSWIRE) -- The "Image Recognition Market - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The Global Image Recognition Market Size Is Expected To Grow from an Estimated Value of USD 26.2 Billion in 2020 to USD 53.0 Billion by 2025, at a CAGR of 15.1%

The image recognition industry is driven by various factors, such as an increased in the need for efficient and profitable retail execution processes with adherence to compliance standards and technological advancements to boost the adoption of image recognition market across the globe during the forecast period. However, the high installation cost of image recognition services can hinder the growth.

Services segment to grow at a higher CAGR during the forecast period

Services for the image recognition market include implementation, deployment, product upgrades, maintenance, and consulting. Increase in the adoption of image recognition software has led to the growth of such services, which help the companies to increase overall revenue and enhance performance.

Vendors in the image recognition market sometimes provide services via channel partners; these partners can help strengthen the geographical reach of solution vendors and improve the cost-effectiveness of their software. The growing demand for rich media is expected to drive companies, such as LTU Technologies, and Catchoom, to offer integrated training services, professional services, and support and maintenance services

Hardware segment to account for a higher market share during the forecast period

This segment includes image sensors integrated with cameras. Hardware is an integral part of the image recognition technology market. Many companies like IBM and Qualcomm provide their company made sensors which help detect products, shelf life, and even trends. For instance, Qualcomm offers the Vision Intelligence 400 platform that is built with powerful image processing and ML for smart camera products; it performs face detection, face recognition, product classification, and license plate recognition.

Asia Pacific to grow at the highest rate during the forecast period

The image recognition market in Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. North America accounts for the highest share (33.49%) of the image recognition market in 2020. The factors supplementing this growth are the region's stable economy, early adoption of technologies, and the presence of major image recognition vendors, such as IBM, AWS, Google, and Microsoft.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Need for Image Recognition in the Automotive Industry
5.2.1.2 Rising Demand for Security Applications and Products Enabled with Image Recognition Functions
5.2.1.3 Increasing Use of High Bandwidth Data Services
5.2.1.4 Technology Advancements to Boost the Demand for Image Recognition Among Cpg and Retail Companies
5.2.2 Restraints
5.2.2.1 High Installation Cost of Image Recognition Solutions
5.2.3 Opportunities
5.2.3.1 Increase in the Demand for Big Data Analytics
5.2.3.2 Integration of Ai Capabilities with Image Recognition Solutions
5.2.4 Challenges
5.2.4.1 Low-Resolution Image Size and Storage
5.2.4.2 COVID-19 Impact on Supply Chain
5.3 COVID-19-Driven Market Dynamics
5.3.1 Drivers and Opportunities
5.3.2 Restraints and Challenges
5.3.3 Cumulative Growth Analysis
5.4 Value Chain
5.5 Ecosystem
5.6 Average Selling Price/Pricing Model of Image Recognition Players, 2019-2020
5.7 Technology Analysis
5.8 Use Cases
5.8.1 Use Case 1: Planorama
5.8.2 Use Case 2: Labsphere
5.8.3 Use Case 3: Catchoom
5.8.4 Use Case 4: Snap2Insight
5.8.5 Use Case 5: Infrrd
5.8.6 Use Case 6: Vispera
5.8.7 Use Case 7: Trax

6 Image Recognition Market, by Technology
6.1 Introduction
6.2 Code Recognition
6.3 Digital Image Processing
6.4 Facial Recognition
6.5 Object Recognition
6.6 Pattern Recognition
6.7 Optical Character Recognition

7 Image Recognition Market, by Component
7.1 Introduction
7.2 Hardware
7.3 Software
7.4 Services

8 Image Recognition Market, by Service
8.1 Introduction
8.1.1 Services: Market Drivers
8.1.2 Services: COVID-19 Impact
8.1.3 Professional Services
8.1.3.1 Integration and Deployment
8.1.3.2 Support and Maintenance
8.1.3.3 Consulting
8.1.4 Managed Services

9 Image Recognition Market, by Deployment Mode
9.1 Introduction
9.2 Cloud
9.3 On-Premises

10 Image Recognition Market, by Application
10.1 Introduction
10.2 Scanning and Imaging
10.3 Security and Surveillance
10.4 Image Search
10.5 Augmented Reality
10.6 Marketing and Advertising

11 Image Recognition Market, by Vertical
11.1 Introduction
11.2 Banking, Financial Services, and Insurance
11.3 Retail and CPG
11.4 Healthcare
11.5 Media and Entertainment
11.6 Government
11.7 Transportation and Logistics
11.8 Automotive
11.9 Telecommunications
11.10 Others

12 Image Recognition Market, by Region

13 Competitive Landscape

14 Company Evaluation Matrix and Company Profiles
14.1 Company Evaluation Matrix
14.1.1 Company Evaluation Matrix Definitions and Methodology
14.1.2 Star
14.1.3 Pervasive
14.1.4 Emerging Leaders
14.1.5 Participants
14.2 Strength of Product Portfolio
14.3 Business Strategy Excellence
14.4 Company Profiles
14.4.1 IBM
14.4.2 Google
14.4.3 Qualcomm
14.4.4 Microsoft
14.4.5 Amazon Web Services
14.4.6 Trax
14.4.7 NEC Corporation
14.4.8 Partium
14.4.9 Ltu Tech
14.4.10 Huawei
14.4.11 Honeywell
14.4.12 Hitachi
14.4.13 Toshiba
14.4.14 Oracle
14.4.15 Vispera
14.4.16 Blippar
14.4.17 Wikitude
14.4.18 Clarifai
14.5 Right to Win
14.6 Startup/SME Evaluation Matrix, 2020
14.6.1 Progressive Companies
14.6.2 Responsive Companies
14.6.3 Dynamic Companies
14.6.4 Starting Blocks
14.6.5 Trigo
14.6.6 Inffrd
14.6.7 Airy3D
14.6.8 Standard Cognition
14.6.9 Unispectral Ltd.
14.6.10 Snap2Insight
14.6.11 Restb.Ai
14.6.12 Vize by Ximilar
14.6.13 Mirror That Look

For more information about this report visit https://www.researchandmarkets.com/r/ru4axq

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