New York, NY -- (SBWIRE) -- 10/26/2020 -- The global Image Recognition Market is expected to reach USD 80.07 Billion by 2026, according to a new report by Reports and Data. Image recognition is the process of recognizing and detecting an object or a feature in a digital image or video. Computers utilize machine vision technologies coupled with a camera and artificial intelligence software to realize image recognition. Increasing demand for image recognition in security applications is likely to drive the market growth in the forecast period. Companies are emphasizing on identifying fraud detection, reduce the need for traditional passwords, and to enhance the ability to differentiate between a human face and a photograph. For instance, Trueface.AI, the developers of Chui, a facial recognition doorbell, is implementing facial recognition and deep learning technology to distinguish a human face from a photograph

The report studies the factors that are likely to influence the growth of the Image Recognition market. The report includes the impact of the COVID-19 pandemic on the Image Recognition industry. The report offers an in-depth analysis of the market size, market share, and market growth and its estimation through the forecast years on the basis of the COVID-19 crisis. The report is attuned to the recent COVID-19 crisis and its impact on the global market. The report explores the present and future impact of the pandemic and provides an insight into the market scenario in the post-pandemic world.

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The report provides a comprehensive overview of the competitive landscape and provides an analysis of the key companies operating in the industry. The top players operating in the industry are Google Inc., Hitachi Ltd., Attrasoft Inc., Honeywell International Inc., NEC Corporation, Qualcomm Inc., Catchoom Technologies Inc., Slyce Inc., LTU Technologies, and Intel Corporation, among others.

The Image Recognition industry is segmented into:

Type Outlook (Revenue, USD Million; 2016-2026)

Object Recognition
Pattern Recognition
Facial Recognition
Barcode/QR Code Recognition
Optical Character Recognition
Others

Component Outlook (Revenue, USD Million; 2016-2026)

Software
Services
Hardware

Deployment Mode Outlook (Revenue, USD Million; 2016-2026)

On-Premises Deployment
Cloud-Based Deployment

Application Outlook (Revenue, USD Million; 2016-2026)

Augmented Reality
Security & Surveillance
Scanning & Imaging
Image Search
Marketing & Advertising

Industry Vertical Outlook (Revenue, USD Million; 2016-2026)

Automotive
BFSI
Retail
IT & Telecom
Media & Entertainment
Healthcare
Government
Transportation & Logistic
Others

Regional Outlook of Image Recognition Market:

The report aims to provide a better understanding of the market dynamics and the workings of the industry on a global level. To gain a deeper understanding of the industry, the global Image Recognition market is analyzed on the basis of key geographical regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.

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Key Questions Answered by the Report:

What are the key driving factors of the Image Recognition industry?
Which segment and sub-segment are expected to show significant growth during the forecast period?
What will the market size and growth rate be throughout the forecast period?
Who are the prominent players of the Image Recognition industry?
What are the technological advancements and product developments taking place in the Image Recognition market?
Which region is expected to dominate the market in the coming years?
What are the key outcomes of the SWOT analysis and Porter's Five Forces analysis?
What are the key risk factors and challenges the companies will face in the market?
What factors are expected to hinder the growth of the Image Recognition industry

Radical Features of the Image Recognition Market Report:

Valuable insights into the Image Recognition market to impart an in-depth understanding of the business verticle
An 8-year forecast estimation along with an analysis of key elements of the market
Technological advancements, regulatory framework, and recent developments covered in the report
Growth analysis and projections until 2027
Statistical analysis of the key players operating in the Image Recognition industry.

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