What is Image Recognition Software Market Scope?
An image recognition software is defined as the computer program that can easily identify places, writing, objects, people as well as actions in images. This software is used in many applications such as scanning & imaging, security & surveillance, image search, augmented reality, marketing & advertising and others. Increasing demand for security applications in organization is likely to be prime driver for market growth.
The Image Recognition Software market study is being classified, by Application (Scanning & Imaging, Security & Surveillance, Image Search, Augmented Reality and Marketing & Advertising) and major geographies with country level break-up.
Analysts at AMA predicts that Players from United States will contribute to the maximum growth of Global Image Recognition Software market throughout the predicted period.
Qualcomm Technologies, Inc. (United States), NEC Corporation (Japan), Microsoft (United States), IBM (United States), Google (United States), LTU Technologies (France), Catchoom Technologies S.L. (Spain), Honeywell International Inc. (United States), Hitachi, Ltd. (Japan) and Slyce (Canada) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are AWS (United States), Blippar (United Kingdom), Planorama (France), Ricoh Innovations Corporation (United States), Pattern Recognition Company GMBH (Germany), Trax Retail (Singapore), Intelligent Retail (Russia), Snap2Insight Inc. (United States), Wikitude GmbH (Austria) and Attrasoft, Inc. (United States).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Image Recognition Software market by Type, Application and Region.
On the basis of geography, the market of Image Recognition Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their development strategies
In 2016, the Google Inc. (United States) Company has acquired Moodstocks, which is a Paris-based startup that specializes in smartphone image recognition. Therefore, this acquisition will affect the growth of market in future.
In 2017, the Qualcomm Technologies, Inc. (United States) Company has launched R-8 & R-9, the augmented reality smart glasses. Hence, it will enhance market growth.
Influencing Market Trend
- Technology Acceptance by Various Companies in Various Industries
Market Drivers
- Increasing Use of Image Recognition Applications across the World
- Increasing Demand for Security Applications in Organization
Opportunities
- Increasing Demand for Big Data Analytics and Rising Demand of Brand Recognition among End-User
Restraints
- Problem related to High Cost of Installation of Image Recognition Systems
Challenges
- Low-Resolution Image Size and Storage is Key Challenges for Market Growth
Key Target Audience
Image Recognition Software Companies, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others
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