The field of image recognition has
gained widespread acclaim in the past few years. Consumers are increasingly
demanding a variety of image recognition applications and technologies in
mobile computing devices and gaming consoles. Businesses have started recognizing
the numerous benefits of collecting digital info from images. This digital info
can help enhance customer experience and offer new ways to approach customers.
Image recognition refers to
technologies that identify places, logos, people, objects, buildings, and
several other variables in images. Users are sharing vast amounts of data
through apps, social networks, and websites. Additionally, mobile phones
equipped with cameras are leading to the creation of limitless digital images
and videos. The large volume of digital data is being used by companies to
deliver better and smarter services to the people accessing it.
The fields of security and
surveillance, defense, automatic automobiles, financial services, health care,
and education are also deriving many definitive benefits from advancements in
image recognition. A variety of image recognition software products and
services are being employed by companies for enhancing many industry-specific
business processes. As such, the global market for image recognition is
witnessing expansion at an exponential rate.
The report gives a thorough overview
of the present state of the image recognition market, which is still in its
nascent phase. A detailed overview of technological and product advancements
has been included in the report, with a thorough outline of the growth
trajectory exhibited by the market in the past few years. The major end-use
areas and technologies, the key regional markets, and the factors that are
expected to lead to the most lucrative growth opportunities in the global image
recognition market are analyzed at length.
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Global Image Recognition Market: Trends and Opportunities
The rising sophistication of image
recognition technologies is creating a plethora of growth opportunities in several
fields. In the field of digital shopping, e-commerce companies can easily
target the rising number of users shopping online from their smartphones or
other mobile computing devices. This expanding group of potential consumers can
be attracted by making the digital space more interactive and making everything
easily searchable, and thus purchasable. The market also has a huge scope of
development in the field of health care, where the rapid adoption of electronic
health records and remote health care practices are boosting the scope of
utilization of various image recognition products and services.
Over the report’s forecast period, the
market is expected to gain substantial revenue from applications in end-use
sectors of automatic vehicles, smartphones, e-commerce, health care, and
wearable devices. Other key end-use segments of the global image recognition
market include academia/government, media, financial services, gaming,
education, and libraries and archives.
Some of the major applications of image
recognition are industrial automation and inspection, face recognition, code
recognition, surveillance and security, visual geolocation, object recognition,
gesture recognition, medical and biomedical image analysis, automotive driver
assistance, traffic management, and road surveying.
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