Image Recognition Market
PUBLISHED: 2021 ID: SMRC21008
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Image Recognition Market

Image Recognition Market Forecasts to 2028 – Global Analysis By Component (Software, Hardware, Services), Deployment Mode (On-Premises, Cloud), Technology (3D, 2D, Sensors), and By Geography

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4.0 (49 reviews)
Published: 2021 ID: SMRC21008

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Image Recognition Market is accounted for $33.01 billion in 2020 and is expected to reach $150.66 billion by 2028 growing at a CAGR of 20.9% during the forecast period. Some of the key factors propelling the market growth include growing use of high bandwidth data services, increasing popularity of AI-driven technologies, increased adoption of cloud-based technologies, rising adoption of image recognition for various applications in various sectors such as retail, marketing, and media. However, high installation cost of image recognition solutions is likely to hamper the market.

Image recognition technology is the process of identifying and detecting an object or a feature in a digital image or video. It gathers high-dimensional data from the real world in order to create arithmetical or emblematic information. This recognition system uses the data shared by users through various platforms such as social networks, apps, and websites. It uses a technology that detects places, people, items, buildings, logos, and different variables in pictures with the help of artificial intelligence.

By product, facial recognition segment is anticipated to grow at a significant rate during the forecast period, due to rising demand in security applications, growing investments in autonomous vehicles, increase in its usage in both law enforcement and non-law enforcement applications, significant developments in artificial intelligence and machine vision, and technological advancements in facial recognition technology.

On the basis of geography, Asia Pacific is projected to have considerable market growth during the forecast period, owing to the rapid technological advancements, rising use of mobiles and tablets, increasing applications of face remembrance in security and surveillance systems in China, and the popularity of online streaming in emerging economies, such as China and India.

Some of the key players in Image Recognition Market include NEC Corporation, Nvidia Corporation, Honeywell International Inc., Amazon Web Services (AWS) Inc., LTU Technologies, Wikitude GmbH, Attrasoft, Inc., Microsoft Corporation, Slyce Inc., Google Inc., Intel Corporation, Hitachi, Ltd., IBM Corporation, Qualcomm Corp., Catchoom Technologies S.L., Samsung Electronics, Toshiba, Micron Technologies Inc, Clarifai Inc., and Xilinx Inc.

Components Covered:
• Software
• Hardware
• Services

Deployment Modes Covered:
• On-Premises
• Cloud

Products Covered:
• Digital Image Processing
• Pattern and Gradient Recognition
• Facial Recognition
• Code Recognition
• Optical Character Recognition
• Object Recognition
• Quick Response (QR)/ Barcode Recognition
• Gesture Recognition

Technologies Covered:
• 3D
• 2D
• Sensors

Applications Covered:
• Security and Surveillance
• Augmented Reality
• Scanning and Imaging
• Marketing and Advertising
• Image Search
• Industrial Automation and Inspection
• Visual Geolocation
• Traffic Management
• Medical and Biomedical Image Analysis
• Automotive Driver Assistance
• Road Surveying

End Users Covered:
• Healthcare and Life Sciences
• Government/Academia
• Automobile (Automatic Vehicles)
• Media and Entertainment
• Information Technology (IT) & Telecom
• Retail and Consumer Packaged Goods (CPG)
• Banking, Financial, Services, and Insurance (BFSI)
• Transportation and Logistics
• Consumer Electronics
• Gaming
• Education
• E-commerce
• Aerospace
• Small and Medium-Sized Enterprises (SMEs)
• Defense
• Manufacturing or Industrial
• Hospitality
• Libraries and Archives

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK 
o Spain
o Rest of Europe      
• Asia Pacific
o Japan       
o China       
o India       
o Australia       
o New Zealand 
o South Korea              
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary      
       
2 Preface   
   
 2.1 Abstract     
 2.2 Stake Holders     
 2.3 Research Scope     
 2.4 Research Methodology     
  2.4.1 Data Mining    
  2.4.2 Data Analysis    
  2.4.3 Data Validation    
  2.4.4 Research Approach    
 2.5 Research Sources     
  2.5.1 Primary Research Sources    
  2.5.2 Secondary Research Sources    
  2.5.3 Assumptions    
       
3 Market Trend Analysis      
 3.1 Introduction     
 3.2 Drivers     
 3.3 Restraints     
 3.4 Opportunities     
 3.5 Threats    
 3.6 Product Analysis     
 3.7 Technology Analysis     
 3.8 Application Analysis     
 3.9 End User Analysis     
 3.10 Emerging Markets     
 3.11 Impact of Covid-19     
       
4 Porters Five Force Analysis      
 4.1 Bargaining power of suppliers     
 4.2 Bargaining power of buyers     
 4.3 Threat of substitutes     
 4.4 Threat of new entrants     
 4.5 Competitive rivalry     
       
5 Global Image Recognition Market, By Component      
 5.1 Introduction     
 5.2 Software     
 5.3 Hardware      
 5.4 Services     
  5.4.1 Managed Services    
  5.4.2 Professional Services    
   5.4.2.1 Support and Maintenance   
   5.4.2.2 Integration and Deployment   
   5.4.2.3 Training and Consulting   
   5.4.2.4 Implementation   
       
6 Global Image Recognition Market, By Deployment Mode      
 6.1 Introduction     
 6.2 On-Premises     
 6.3 Cloud     

7 Global Image Recognition Market, By Product      
 7.1 Introduction     
 7.2 Digital Image Processing     
 7.3 Pattern and Gradient Recognition     
 7.4 Facial Recognition     
 7.5 Code Recognition     
 7.6 Optical Character Recognition     
 7.7 Object Recognition     
 7.8 Quick Response (QR)/ Barcode Recognition     
 7.9 Gesture Recognition     
  7.9.1 Touch Based Gesture Recognition    
  7.9.2 Touch-Less Gesture Recognition    

8 Global Image Recognition Market, By Technology      
 8.1 Introduction     
 8.2 3D     
 8.3 2D     
 8.4 Sensors     

9 Global Image Recognition Market, By Application      
 9.1 Introduction     
 9.2 Security and Surveillance     
 9.3 Augmented Reality     
 9.4 Scanning and Imaging     
 9.5 Marketing and Advertising     
 9.6 Image Search     
 9.8 Industrial Automation and Inspection     
 9.8 Visual Geolocation     
 9.9 Traffic Management     
 9.10 Medical and Biomedical Image Analysis     
 9.11 Automotive Driver Assistance     
 9.12 Road Surveying     
       
10 Global Image Recognition Market, By End User      
 10.1 Introduction     
 10.2 Healthcare and Life Sciences     
 10.3 Government/Academia     
 10.4 Automobile (Automatic Vehicles)     
 10.5 Media and Entertainment     
 10.6 Information Technology (IT) & Telecom     
 10.8 Retail and Consumer Packaged Goods (CPG)     
 10.8 Banking, Financial, Services, and Insurance (BFSI)     
 10.9 Transportation and Logistics     
 10.10 Consumer Electronics     
  10.10.1 Wearable Devices    
  10.10.2 Smartphones    
 10.11 Gaming     
 10.12 Education     
 10.13 E-commerce     
 10.14 Aerospace     
 10.15 Small and Medium-Sized Enterprises (SMEs)     
 10.16 Defense     
 10.18 Manufacturing or Industrial     
 10.18 Hospitality     
 10.19 Libraries and Archives     
       
11 Global Image Recognition Market, By Geography      
 11.1 Introduction     
 11.2 North America     
  11.2.1 US    
  11.2.2 Canada    
  11.2.3 Mexico    
 11.3 Europe     
  11.3.1 Germany    
  11.3.2 UK    
  11.3.3 Italy    
  11.3.4 France    
  11.3.5 Spain    
  11.3.6 Rest of Europe    
 11.4 Asia Pacific     
  11.4.1 Japan    
  11.4.2 China    
  11.4.3 India    
  11.4.4 Australia    
  11.4.5 New Zealand    
  11.4.6 South Korea    
  11.4.8 Rest of Asia Pacific    
 11.5 South America     
  11.5.1 Argentina    
  11.5.2 Brazil    
  11.5.3 Chile    
  11.5.4 Rest of South America    
 11.6 Middle East & Africa     
  11.6.1 Saudi Arabia    
  11.6.2 UAE    
  11.6.3 Qatar    
  11.6.4 South Africa    
  11.6.5 Rest of Middle East & Africa    
       
12 Key Developments      

 12.1 Agreements, Partnerships, Collaborations and Joint Ventures     
 12.2 Acquisitions & Mergers     
 12.3 New Product Launch     
 12.4 Expansions     
 12.5 Other Key Strategies     
       
13 Company Profiling      
 13.1 NEC Corporation     
 13.2 Nvidia Corporation     
 13.3 Honeywell International Inc.     
 13.4 Amazon Web Services (AWS) Inc.     
 13.5 LTU Technologies     
 13.6 Wikitude GmbH     
 13.8 Attrasoft, Inc.     
 13.8 Microsoft Corporation     
 13.9 Slyce Inc.     
 13.10 Google Inc.     
 13.11 Intel Corporation     
 13.12 Hitachi, Ltd.     
 13.13 IBM Corporation     
 13.14 Qualcomm Corp.     
 13.15 Catchoom Technologies S.L.     
 13.16 Samsung Electronics     
 13.18 Toshiba     
 13.18 Micron Technologies Inc     
 13.19 Clarifai Inc.     
 13.20 Xilinx Inc.     


List of Tables       
1 Global Image Recognition Market Outlook, By Region (2019-2028) ($MN)      
2 Global Image Recognition Market Outlook, By Component (2019-2028) ($MN)      
3 Global Image Recognition Market Outlook, By Software (2019-2028) ($MN)      
4 Global Image Recognition Market Outlook, By Hardware (2019-2028) ($MN)      
5 Global Image Recognition Market Outlook, By Services (2019-2028) ($MN)       
6 Global Image Recognition Market Outlook, By Managed Services (2019-2028) ($MN)      
8 Global Image Recognition Market Outlook, By Professional Services (2019-2028) ($MN)      
8 Global Image Recognition Market Outlook, By Deployment Mode (2019-2028) ($MN)      
9 Global Image Recognition Market Outlook, By On-Premises (2019-2028) ($MN)      
10 Global Image Recognition Market Outlook, By Cloud (2019-2028) ($MN)      
11 Global Image Recognition Market Outlook, By Product (2019-2028) ($MN)      
12 Global Image Recognition Market Outlook, By Digital Image Processing (2019-2028) ($MN)      
13 Global Image Recognition Market Outlook, By Pattern and Gradient Recognition (2019-2028) ($MN)      
14 Global Image Recognition Market Outlook, By Facial Recognition (2019-2028) ($MN)      
15 Global Image Recognition Market Outlook, By Code Recognition (2019-2028) ($MN)      
16 Global Image Recognition Market Outlook, By Optical Character Recognition (2019-2028) ($MN)      
17 Global Image Recognition Market Outlook, By Object Recognition (2019-2028) ($MN)      
18 Global Image Recognition Market Outlook, By Quick Response (QR)/ Barcode Recognition (2019-2028) ($MN)      
19 Global Image Recognition Market Outlook, By Gesture Recognition (2019-2028) ($MN)      
20 Global Image Recognition Market Outlook, By Touch Based Gesture Recognition (2019-2028) ($MN)      
21 Global Image Recognition Market Outlook, By Touch-Less Gesture Recognition (2019-2028) ($MN)      
22 Global Image Recognition Market Outlook, By Technology (2019-2028) ($MN)      
23 Global Image Recognition Market Outlook, By 3D (2019-2028) ($MN)      
24 Global Image Recognition Market Outlook, By 2D (2019-2028) ($MN)      
25 Global Image Recognition Market Outlook, By Sensors (2019-2028) ($MN)      
26 Global Image Recognition Market Outlook, By Application (2019-2028) ($MN)      
28 Global Image Recognition Market Outlook, By Security and Surveillance (2019-2028) ($MN)      
28 Global Image Recognition Market Outlook, By Augmented Reality (2019-2028) ($MN)      
29 Global Image Recognition Market Outlook, By Scanning and Imaging (2019-2028) ($MN)      
30 Global Image Recognition Market Outlook, By Marketing and Advertising (2019-2028) ($MN)      
31 Global Image Recognition Market Outlook, By Image Search (2019-2028) ($MN)      
32 Global Image Recognition Market Outlook, By Industrial Automation and Inspection (2019-2028) ($MN)      
33 Global Image Recognition Market Outlook, By Visual Geolocation (2019-2028) ($MN)      
34 Global Image Recognition Market Outlook, By Traffic Management (2019-2028) ($MN)      
35 Global Image Recognition Market Outlook, By Medical and Biomedical Image Analysis (2019-2028) ($MN)      
36 Global Image Recognition Market Outlook, By Automotive Driver Assistance (2019-2028) ($MN)      
38 Global Image Recognition Market Outlook, By Road Surveying (2019-2028) ($MN)      
38 Global Image Recognition Market Outlook, By End User (2019-2028) ($MN)      
39 Global Image Recognition Market Outlook, By Healthcare and Life Sciences (2019-2028) ($MN)      
40 Global Image Recognition Market Outlook, By Government/Academia (2019-2028) ($MN)      
41 Global Image Recognition Market Outlook, By Automobile (Automatic Vehicles) (2019-2028) ($MN)      
42 Global Image Recognition Market Outlook, By Media and Entertainment (2019-2028) ($MN)      
43 Global Image Recognition Market Outlook, By Information Technology (IT) & Telecom (2019-2028) ($MN)      
44 Global Image Recognition Market Outlook, By Retail and Consumer Packaged Goods (CPG) (2019-2028) ($MN)      
45 Global Image Recognition Market Outlook, By Banking, Financial, Services, and Insurance (BFSI) (2019-2028) ($MN)      
46 Global Image Recognition Market Outlook, By Transportation and Logistics (2019-2028) ($MN)      
48 Global Image Recognition Market Outlook, By Consumer Electronics (2019-2028) ($MN)      
48 Global Image Recognition Market Outlook, By Wearable Devices (2019-2028) ($MN)      
49 Global Image Recognition Market Outlook, By Smartphones (2019-2028) ($MN)      
50 Global Image Recognition Market Outlook, By Gaming (2019-2028) ($MN)      
51 Global Image Recognition Market Outlook, By Education (2019-2028) ($MN)      
52 Global Image Recognition Market Outlook, By E-commerce (2019-2028) ($MN)      
53 Global Image Recognition Market Outlook, By Aerospace (2019-2028) ($MN)      
54 Global Image Recognition Market Outlook, By Small and Medium-Sized Enterprises (SMEs) (2019-2028) ($MN)      
55 Global Image Recognition Market Outlook, By Defense (2019-2028) ($MN)      
56 Global Image Recognition Market Outlook, By Manufacturing or Industrial (2019-2028) ($MN)      
58 Global Image Recognition Market Outlook, By Hospitality (2019-2028) ($MN)      
58 Global Image Recognition Market Outlook, By Libraries and Archives (2019-2028) ($MN)      
       
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.       

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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