HTF Market Intelligence Consulting Private Limited

Image Recognition Market Gain Momentum: Major Giants Catchoom, Hitachi, Blipper, Toshiba


Pune, Maharashtra -- (SBWIRE) -- 09/05/2023 -- HTF MI introduces new research on Image Recognition covering the micro level of analysis by competitors and key business segments (2023-2029). Image Recognition explores a comprehensive study of various segments like opportunities, size, development, innovation, sales, and overall growth of major players. The research is carried out on primary and secondary statistics sources and it consists of both qualitative and quantitative detailing. Some of the major key players profiled in the study are Sharp Vision Software (United States), Catchoom (Spain), Hitachi (Japan), Itraff Technology (Poland), Wikitude (Austria), Blipper (United Kingdom), Toshiba (Japan).

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According to HTF Market Intelligence, the Global Image Recognition market to witness a CAGR of 17.5% during the forecast period of 2023-2029. The market is segmented by Application (Scanning and Imaging, Security and Surveillance, Image Searching, Augmented Reality, Marketing and Advertising, Others) by End Use Industry (BFSI, Media and Entertainment, IT and Telecom, Government, Healthcare, Transportation and Logistics, Others) by Technology (Object Detection, QR/Barcode Recognition, Facial Recognition, Others) and by Geography (North America, South America, Europe, Asia Pacific, MEA).

Image recognition refers to the recognition of people, objects, texts, places, and other images using a camera in tandem with artificial intelligence. It is used in various operations such as guiding robots, self-driving cars, security applications, and others. Deep machine learning is required for this technology. As automation is the new norm across industries, the need for security is at the fore, there will be a huge demand for image recognition systems during the forecasted period.

Market Trends:
- Emergence of Computer Vision Technology
- Growing Use of Text Recognition and Information Extraction
Market Drivers:
- Rising Need for Security Across Industry Verticals
- Growing Digitalization and Wider Adoption of Social Media

Market Opportunities:
- Growing Use of Big Data Analytics
- Rising Automation Demand and Emergence of Industry 4.0

Highlighted of Image Recognition Market Segments and Sub-Segment:
Image Recognition Market by Key Players: Sharp Vision Software (United States), Catchoom (Spain), Hitachi (Japan), Itraff Technology (Poland), Wikitude (Austria), Blipper (United Kingdom), Toshiba (Japan)

Image Recognition Market by End-User/Application: Scanning and Imaging, Security and Surveillance, Image Searching, Augmented Reality, Marketing and Advertising, Others

Image Recognition Market by Geographical Analysis:
- APAC (Japan, China, South Korea, Australia, India, and the Rest of APAC; the Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (U.S., Canada, and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, UAE, South Africa)

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The study is a source of reliable data on Market segments and sub-segments, Market trends and dynamics Supply and demand Market size Current trends/opportunities/challenges Competitive landscape Technological innovations Value chain, and investor analysis.

Interpretative Tools in the Market: The report integrates the entirely examined and evaluated information of the prominent players and their position in the market by methods for various descriptive tools. The methodical tools including SWOT analysis, Porter's five forces analysis, and investment return examination were used while breaking down the development of the key players performing in the market.

Key Growths in the Market: This section of the report incorporates the essential enhancements of the marker that contain assertions, coordinated efforts, R&D, new item dispatch, joint ventures, and associations of leading participants working in the market.

Key Points in the Market: The key features of this Image Recognition market report includes production, production rate, revenue, price, cost, market share, capacity, capacity utilization rate, import/export, supply/demand, and gross margin. Key market dynamics plus market segments and sub-segments are covered.

Research Objectives:
- Focuses on the key manufacturers, to define, pronounce and examine the value, sales volume, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
- To share comprehensive information about the key factors influencing the growth of the market (opportunities, drivers, growth potential, industry-specific challenges and risks).
- To analyze the with respect to individual future prospects, growth trends and their involvement to the total market.
- To analyze reasonable developments such as agreements, expansions new product launches, and acquisitions in the market.
- To deliberately profile the key players and systematically examine their growth strategies.

In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
- Political (Political policy and stability as well as trade, fiscal, and taxation policies)
- Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
- Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
- Technological (Changes in digital or mobile technology, automation, research, and development)
- Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
- Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)

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