Global Image Recognition Market Research and Forecast, 2019-2025
Global image recognition market size, share & trends analysis report by application (augmented reality, marketing, security, image search) by end-user (retail sector, telecom & it, BFSI, media & entertainment, healthcare) forecast, 2019-2025
Image recognition is an automatic process of recognizing patterns, symbols, and regularities in data. Image recognition is related to artificial intelligence and machine learning in various applications for data mining and knowledge discovery in databases. Image recognition is a subcategory of computer image processing; in which, it refers to the ability of a computer to see, decode, comprehend and give the result of the information from an image, video, and graphic, whether it is still or live.
Various other types of complex programs have been developed by many companies over the last few years that have allowed computers to learn various patterns, pictures and are actually defined as the edges of an object. This procedure of enhancement has been boosted over the past decade due to extremely fast, economic and powerful graphics processors, computers programming, and the internet.
The global image recognition market is growing at a significant rate due to increased use of smart devices such as smartphones and the increased application of augmented reality and virtual reality. Moreover, increasing demand for data analytics and increasing use of image recognition in media are expected to further augment the market. Image recognition technology comprises voice, iris, fingerprint, palm, retina, and facial pattern recognition;
The presence of numerous IT companies in Asia Pacific makes it one of the most dynamic provincial for the global image recognition market. Asia-Pacific also holds a significant position when it comes to the retail sector and BFSI, which are two major end-users of image recognition technology. Moreover, the presence of key companies such as Google, Twitter, Facebook, International Business Machines (IBM) Corp., and Apple makes North America the leading regional market for image recognition.
Facebook recently added image recognition function to its servers which now can identify photo or can recognize a face with only a few tagged pictures. Facebook also claims that its face recognition feature is correct 98% of times. Images and data are in the form of 2-dimensional matrices. Facebook uses OCR converter, which converts images of typed or handwritten text into machine-encoded text.
Major applications are augmented reality, marketing, security, image search and others.
· End User
The study is segmented on the basis of retail sector, IT and telecom, BFSI, media and entertainment, healthcare and others.
· North America (US and Canada)
· Europe (UK, Germany, France, Spain, and Italy)
· Asia-Pacific (China, India, and Japan)
· Rest of the World
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