The report provides an overall review of the image recognition market, covering the market size, market share analysis, trends, dynamics, forecast, Porters analysis, key industry segments, and company profiles. In addition, it provides up-to-date information to help monitor performance and make wise business decisions for growth and profitability. The global image recognition market was valued at $13.7 billion in 2015, and is projected to reach $79.8 billion by 2025, growing at a CAGR of 19.7% from 2017 to 2025. Service is anticipated to grow at the highest rate during the forecast period.
The report provides an executive summary of the global image recognition industry to help market players and new entrants understand the overall market status. Key findings are outlined in the report to help these players determine investment viability. The competitive landscape is offered to assist industry players to determine the level of competitiveness within the industry and take steps to gain a competitive edge.
The market landscape of the image recognition market is provided in terms of the growth drivers, restraints, and opportunities, Porters five forces analysis, and market share analysis. The rise and fall of the image recognition industry are dependent on the drivers and restraints. The drivers lead to the growth of the market, whereas the restraints limit the market growth. Image recognition is a widely used technique to acquire, process, and scrutinize images. Factors such as increased use of image recognition applications, rapid increase in demand for security & surveillance, and upsurge in adoption of image recognition across various industries drive the growth of the industry. However, high installation cost and lack of image size resolution hinder the market growth.
The global image recognition market is segmented based on technology, application, component, deployment mode, industry, and geography. By technology, the market is classified as QR/barcode recognition, object recognition, facial recognition, pattern recognition, and optical character recognition. Based on application, it is segmented into augmented reality, scanning & imaging, security & surveillance, marketing & advertising, and image search. Depending on component, it is categorized into hardware, software, and services. According to deployment mode, it is bifurcated into on-premise and cloud. As per industry, it is fragmented into BFSI, media & entertainment, retail & consumer goods, IT & telecom, government, healthcare, transportation & logistics, and others. Geographically, it is analyzed across the North America, Europe, Asia-Pacific, and LAMEA.
The report elaborately discusses the key players providing solutions in the image recognition market. An overview for each player is provided to help market players and investors gain an understanding of the competition prevailing in the industry. Moreover, the financial segments of each player and their recent developments are discussed in the study. Key market players profiled in the report include Qualcomm Incorporated, NEC Corporation, Google Inc., LTU Technologies, Catchoom Technologies S.L., Honeywell International Inc., Hitachi, Ltd., Slyce Inc., Wikitude GmbH, and Attrasoft, Inc.