The image recognition market is expected to reach US$15.75 billion by 2024. The growth of the image recognition market is being fuelled by the rapid growth of communication and technology and consumer electronics industries worldwide which are opening doors to immense growth opportunities for next-generation technologies. Huge investments into research and development across these industries are accelerating technological advancements and innovation. As this continues, new technologies like image recognition are being incorporated into solutions in order to expand the capabilities and value these solutions offer to the customers. This is a major factor driving the market growth for image recognition technology. Growing disposable incomes across many regions are increasing the demand for technology intensive solutions among people. This is also increasing the adoption of image recognition technology, among many other advanced technologies, thus boosting the market growth.
Drivers
Rapid growth of end-user industries
Rising investments in R&D
Restraints
Large storage requirement for multi-media data
Industry Update
In 2017, Brandatch launched Brandwatch Image Insight, an image-recognition platform.
In 2018, Sotheby acquired Thread Genius to build its image recognition and recommendation technology.
The major players profiled in the Image Recognition market include Qualcomm Incorporated, NEC Corporation, Google Inc., LTU Tech, Catchoom Technologies S.L., Hitachi Ltd, Slyce Inc., Wikitude GmbH, and Attrasoft Inc.
Segmentation
The image recognition market has been analyzed through the following segments:
By Component
Hardware
Software
Services
By End-User Industry
Communication and Technology
BFSI
Retail
Government
Media and Entertainment
Healthcare
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
United Kingdom
Germany
France
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
Australia
India
Others
Drivers
Rapid growth of end-user industries
Rising investments in R&D
Restraints
Large storage requirement for multi-media data
Industry Update
In 2017, Brandatch launched Brandwatch Image Insight, an image-recognition platform.
In 2018, Sotheby acquired Thread Genius to build its image recognition and recommendation technology.
The major players profiled in the Image Recognition market include Qualcomm Incorporated, NEC Corporation, Google Inc., LTU Tech, Catchoom Technologies S.L., Hitachi Ltd, Slyce Inc., Wikitude GmbH, and Attrasoft Inc.
Segmentation
The image recognition market has been analyzed through the following segments:
By Component
Hardware
Software
Services
By End-User Industry
Communication and Technology
BFSI
Retail
Government
Media and Entertainment
Healthcare
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
United Kingdom
Germany
France
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
Australia
India
Others
Table of Contents
1. INTRODUCTION
2. RESEARCH METHODOLOGY
4. MARKET DYNAMICS
5. IMAGE RECOGNITION MARKET BY COMPONENT
6. IMAGE RECOGNITION MARKET BY END-USER INDUSTRY
7. IMAGE RECOGNITION MARKET BY GEOGRAPHY
8. COMPETITIVE INTELLIGENCE
9. COMPANY PROFILES
Companies Mentioned
- Qualcomm Incorporated
- NEC Corporation
- Google Inc.
- LTU Tech
- Catchoom Technologies S.L.
- Hitachi Ltd
- Slyce Inc.
- Wikitude GmbH
- Attrasoft Inc.
Methodology
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