New York, NY -- (SBWIRE) -- 04/16/2020 -- Image recognition technology detects and identifies objects and features in a digital image and works with the help of various types of algorithms, such as pattern matching and gradient matching, optical character recognition, and face recognition. It has numerous applications such as publishing, traffic management, advertising, e-commerce, and security. Image 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 various variables in image with the help of artificial intelligence. Companies are using huge digital data to bring better and niftier facilities to customers. Image recognition is used to perform several machine-based visual tasks, which include performing image content search and guiding autonomous robots, labeling the content of images with meta-tags, self-driving cars, and accident avoidance systems, and others.

The market is driven by factors such as ongoing technological advancements in image recognition and rise in demand for image recognition applications in media, retail, and marketing. However, high product cost coupled with image recognition system act as major deterrents to the market growth. Furthermore, surge in need for using data analytics is believed to create significant demand for the image recognition market. Besides, rise in adoption of facial recognition access systems as compared to card systems in residences and industries provide opportunities for the growth of the market.

Major Key Players of the Image Recognition Market are:
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.

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The global image recognition market is segmented based on deployment mode, component, industry verticals, technology, applications, and regions. Based on deployment mode, the market is bifurcated into cloud and on premise. In terms of component, the market is categorized into hardware, software, and service. In terms of industry vertical, the market is classified into IT & telecom, BFSI, healthcare, retail, government, media & entertainment, transportation & logistics, manufacturing, and others. Based on technology, the market is segmented into object detection, QR/barcode recognition, facial recognition, pattern recognition, and optical character recognition. Based on application, scanning & imaging, security & surveillance, image search, augmented reality, marketing & advertisement. Based on the region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Major Technology of Image Recognition Market covered are:
Object Detection
QR/Barcode Recognition
Facial Recognition
Pattern Recognition,
Optical Character Recognition

Major Applications of Image Recognition Market covered are:
Scanning & Imaging
Security & Surveillance
Image Search
Augmented Reality
Marketing & Advertising

Research objectives:-

– To study and analyze the global Image Recognition consumption (value & volume) by key regions/countries, product type and application, history data.
– To understand the structure of the Image Recognition market by identifying its various sub-segments.
– Focuses on the key global Image Recognition manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
– To analyze the Image Recognition with respect to individual growth trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).

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Table of Content

1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered

2 Global Growth Trends
2.1 Image Recognition Market Size
2.2 Image Recognition Growth Trends by Regions
2.3 Industry Trends

3 Market Share by Key Players
3.1 Image Recognition Market Size by Manufacturers
3.2 Image Recognition Key Players Head office and Area Served
3.3 Key Players Image Recognition Product/Solution/Service
3.4 Date of Enter into Image Recognition Market
3.5 Mergers & Acquisitions, Expansion Plans

4 Breakdown Data by Product
4.1 Global Image Recognition Sales by Product
4.2 Global Image Recognition Revenue by Product
4.3 Image Recognition Price by Product

5 Breakdown Data by End User
5.1 Overview
5.2 Global Image Recognition Breakdown Data by End User

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In the end, Image Recognition industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, and market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.

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