Image Recognition Market is estimated to reach USD 86,001 Million by 2025, registering a CAGR of 21.8%
The increased adoption of cloud-based technologies has been one of the main drivers behind the growth in the global image recognition market.
PORTLAND, PORTLAND, OR, UNITED STATE, November 9, 2022 /EINPresswire.com/ — Allied Market Research published a new report, titled, “Image Recognition Market is estimated to reach USD 86,001 Million by 2025, registering a CAGR of 21.8%.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
Growing popularity of media cloud services and increasing pace of technological advancements in facial recognition technology drive the growth of the global image recognition market. Moreover, surge in the number of mobile devices equipped with cameras and rise in demand for security applications and products laden with image recognition features supplement the market growth. However, high cost of installation of image recognition systems is expected to hamper the market growth. On the contrary, supportive regulations that mandate the use of image recognition products and high demand of image recognition in the healthcare industry are expected to provide lucrative opportunities to the market.
Download free sample report at: https://www.alliedmarketresearch.com/request-sample/5075
The object detection technology segment garnered 33% of the total market share in 2017 and is projected to maintain its lion’s share through 2025. However, the facial recognition segment is expected to witness the fastest CAGR of 26.1% through the study period, owing to increased usage of the technology in both law enforcement and non-law enforcement applications. Moreover, the technology is widely preferred over other biometric technologies due to its non-contact process and easy deployment (using cameras and existing monitoring devices). The other technologies analyzed in the report include QR/barcode recognition, pattern recognition, and optical character recognition.
The image search segment held the largest share in 2017, capturing 35.4% of the overall total market share. It is expected to maintain its lead through 2025, as this technology is increasingly used in the e-commerce sector for various applications such as visual search, product tagging, and content curation. However, the augmented reality segment is expected to grow at the fastest CAGR of 26.7% from 2018 to 2025. The other applications discussed in the report include scanning & imaging, security & surveillance, and marketing & advertising.
For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/5075
The North America contributed 46.7% of the total market share in 2017, owing to surge in the number of users of electronic gadgets and smartphones with image recognition applications. However, Asia-Pacific would manifest the fastest CAGR of 25.4% during the study period, owing to lurking threats due to terrorist attacks and growing trend towards e-governance in the region. The other regions analyzed in the report are Europe and Latin America, Middle East, and Africa (LAMEA).
The leading companies operating in the global image recognition market include IBM Corporation, Imagga Technologies Ltd., Amazon Web Services, Inc., Qualcomm Incorporated, Google LLC, Microsoft Corporation, NEC Corporation, LTU technologies, Catchoom Technologies S.L., and Intel Corporation.
If you have any special requirements, please let us know: https://www.alliedmarketresearch.com/request-for-customization/5075
Key Findings of the Image Recognition Market:
• By deployment mode, the cloud segment is expected to exhibit significant growth in the global image recognition market during the forecast period.
• In 2017, the services segment accounted for the highest revenue in the component category.
• Based on industry vertical, the retail segment generated the highest revenue in 2017.
• Based on technology, the object detection generated the highest revenue in 2017.
• By application, the augmented reality segment is expected to exhibit significant growth in the global image recognition market during the forecast period.
• Based on region, Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.
Buy This Research Report at: https://bit.ly/3fYaa58
Thanks for reading this article; you can also get an individual chapter-wise section or region-wise report versions like North America, Europe, or Asia.
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
Other Trending Report:
1. Emotion Detection and Recognition Market
About Us:
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.
David Correa
Allied Analytics LLP
+1 503-894-6022
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
