Massive Growth in Image Recognition Market Set to Witness Huge Growth by 2025 | IBM Corporation, Imagga Technologies Ltd., Amazon Web Services, Inc., Qualcomm Incorporated

Image recognition technology detects and identifies objects and features in a digital image and works with the help of various types of algorithms, such as pattern matching and gradient matching, optical character recognition, and face recognition. It has numerous applications such as publishing, traffic management, advertising, e-commerce, and security. Image recognition system uses the data shared by users through various platforms such as social networks, apps, and websites.

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It uses a technology that detects places, people, items, buildings, logos, and various variables in image with the help of artificial intelligence. Companies are using huge digital data to bring better and niftier facilities to customers. Image recognition is used to perform several machine-based visual tasks, which include performing image content search and guiding autonomous robots, labeling the content of images with meta-tags, self-driving cars, and accident avoidance systems, and others.

Leading Players in the Image Recognition Market:

IBM Corporation, Imagga Technologies Ltd., Amazon Web Services, Inc., Qualcomm Incorporated, Google LLC, Microsoft Corporation, NEC Corporation, LTU technologies, Catchoom Technologies S.L., and Intel Corporation.

The market is driven by factors such as ongoing technological advancements in image recognition and rise in demand for image recognition applications in media, retail, and marketing. However, high product cost coupled with image recognition system act as major deterrents to the market growth. Furthermore, surge in need for using data analytics is believed to create significant demand for the image recognition market. Besides, rise in adoption of facial recognition access systems as compared to card systems in residences and industries provide opportunities for the growth of the market.

Researchers conducting the research also carry out a comprehensive analysis of the recent amendments in the government regulation and their impact on the competitive landscape of the industry. The research assesses the recent progress in the competitive landscape including collaborations, joint ventures, product launches, acquisitions, and mergers, as well as investments in the sector for research and development.

The report profiles the key players in the industry along with a detailed analysis of their individual positions against the global landscape. The researcher provides an extensive analysis of the Image Recognition market size, share, trends, overall earnings, gross revenue, and profit margin to accurately draw a forecast and provide expert insights to investors to keep them updated with the trends in the market.

Scope of the report:

This research evaluates micro-markets and takes a closer look at the different growth trends, future prospects and regulations that will regulate the industry in the coming years. Researchers have also included a few top performers in the sector to calculate their industry shares and core competencies. The research explains technological developments in the sector along with upcoming areas of the industry that might potentially attract massive investments.

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Scope of the study:

• The report conducts a detailed analysis of the evolving market dynamics
• It gives a holistic view of various drivers and restraints operating in the market
• It categorizes the prominent product segments and their future growth scenario
• The market insights derived after a thorough investigation of the industrial segments and subsegments enable readers make informed decisions.

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This release was published on openPR.