Industry Background:
Image recognition refers to recognition of people, objects, texts, places and others images using a camera in tandem with artificial intelligence. It is used to in various operations such as guiding robots, self-driving cars, security applications and others. Deep machine learning is required for this technology. As automation being the new norms across industries, the need for security is at fore, there would be huge demand for image recognition system during foretasted period.
According to AMA, the market for Image Recognition is expected to register a CAGR of 18.7% during the forecast period to 2026. This growth is primarily driven by Rising Need on Security Across Industry Verticals and Growing Digitalization and Wider Adoption of Social Media.
Globally, a noticeable market trend is evident Emergence of Computer Vision Technology
. The Technology Distributors sector in the North America 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 Players, such as Sharp Vision Software (United States), Catchoom (Spain), Hitachi (Japan), Itraff Technology (Poland), Wikitude (Austria), Blipper (United Kingdom) and Toshiba (Japan) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Market Drivers
- Rising Need on Security Across Industry Verticals
- Growing Digitalization and Wider Adoption of Social Media
Market Trend
- Emergence of Computer Vision Technology
- Growing Use of Text Recognition and Information Extraction
Restraints
- High Cost of Installation of the System
- Complexity Involved in the System
Opportunities
Growing Use of Big Data Analytics and Rising Automation Demand and Emergence of Industry 4.0
Challenges
Limited Resolution Size and Storage and Lack of Deployment in Emerging Countries
AMA Research follow 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 mostly 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 showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include 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, Image Recognition Study Sheds Light on
The Image Recognition Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Image Recognition industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Image Recognition industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.