Industry Background:
Visual search is the act of identifying a precise programmed target among other distractions. A Visual search engine mechanically collects the visual information from the web and classifies the image and video data accordingly. They are also used in surveillance systems as they monitor huge amounts of video streams. Visual search is an emerging development in the world of artificial intelligence (AI) and machine learning (ML) which has the probable to transform how consumers find and buy productsIt has been found that approx. 62% of Millennials desire the ability to visually search over any other new technology.This growth is primarily driven by Rising Adoption of Machine Learning
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Advertising sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Amazon.com, Inc. (United States), Cortexica Vision Systems Ltd. (United Kingdom), Microsoft (United States), Slyce (United States), Snap Inc. (United States), TinEye (Canada), Veritone, Inc. (United States), ViSenze (Singapore), WIDE EYES TECHNOLOGIES (Spain), Google (United States) and Clarifai (United States)), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In December 2022, Google launched Visual Guide To Search Elements. Google’s new guide to search features visualizes and defines the various elements on a search results page.The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Influencing Trend:
Growth in E- Commerce Industry Will drive The Market
Market Growth Drivers:
Rising Adoption of Machine Learning and Growing Popularity of Internet and Smartphones Among Population
Challenges:
Requirement of Appropriate Product Listing and Optimized Images
Restraints:
High Operation Cost Will Restraint the Market Expansion
Opportunities:
Increasing Use of Chatbots in Retail Industry
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Visual Search Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Visual Search Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Visual Search players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Visual Search Study Sheds Light on
The Visual Search Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Visual Search industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Visual Search industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.