HOME Top Market Reports Image Recognition Market by Technology (Pattern Recognition), by Component (Hardware, Software, Service), by Application (Marketing and Advertising), by Deployment Type (On-Premises and Cloud), by Industry Vertical and by Region - Global Forecast To 2022

Image Recognition Market by Technology (Pattern Recognition), by Component (Hardware, Software, Service), by Application (Marketing and Advertising), by Deployment Type (On-Premises and Cloud), by Industry Vertical and by Region - Global Forecast To 2022

By: marketsandmarkets.com
Publishing Date: March 2016
Report Code: TC 2308

 

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MarketsandMarkets estimates the global image recognition market to grow from USD 12.49 Billion in 2015 to USD 29.98 Billion by 2020, at a CAGR of 19.1%. The base year considered for the study is 2014 and the market size has been projected from 2015 to 2020. One of the major factors driving this market is the growing usage of social media. The usage of social media among employees and customers for various purposes such as shopping, image search, and data sharing has increased the focus of the organizations toward image recognition technology usage in social media.

Image recognition has gained traction globally in the past few decades. Gamification involves techniques that define the content within the image and identify the content stored or sorted in the images. Moreover, these solutions are also used to secure data and digital documents of organization by implementing pattern recognition technology and code recognition technology to access documents. Image recognition software helps in promoting e-commerce and applications related to consumer goods. It also helps marketers in creating new opportunities to increase their market share. The report segments the image recognition market into technology, components, applications, deployment types, verticals, and regions.

Major players in the image recognition ecosystem were identified across regions, their offerings, and, distribution channels; the regional presence has been studied through in-depth discussions. The average revenue generated by these companies segmented by region was used to arrive at the overall image recognition market size. This overall market size is used in the top-down procedure to estimate the sizes of other individual markets via percentage splits from secondary and primary research.  The entire procedure includes the study of the annual and financial reports of the top market players and extensive interview of key insights from industry leaders, such as CEOs, VPs, directors, and marketing executives.

All percentage splits and breakdowns were determined using secondary sources and verified through primary sources. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data is consolidated and added with detailed inputs and analysis from MarketsandMarkets and presented in this report.

The breakdown of profiles of primary is depicted in the below figure:

Image Recognition Market

To know about the assumptions considered for the study, download the pdf brochure

The ecosystem of the market consists of image recognition solution providers, IT developers, software providers, and other players. The image recognition solution providers and open source providers develop software and hardware and include service providers who create an image recognition suite for the customers. These solutions can also be provided individually. Moreover, these solutions are provided to various industry verticals such as government and retail and consumer goods for several applications.

The study answers several questions for the stakeholders, primarily, which market segments to focus in the next two to five years for prioritizing the efforts and investments.

The report segments the image recognition market on the following basis:

Target audience:

  • Image recognition solution providers
  • Hardware providers
  • Software vendors
  • Third Party providers
  • Cloud service providers
  • Third-party vendors
  • Application service providers
  • Technology providers
  • Open source providers

This report provides global adoption trends, future growth potential, key drivers, restraints, opportunities, and best practices in the market. The report also examines the growth potential market sizes and revenue forecasts across different regions as well as user segment.

Scope of the Report:

The report segments the image recognition market on the following basis.

  • On the basis of technology:
    • Pattern Recognition
    • Optical Character Recognition
    • Code Recognition
    • Facial Recognition
    • Object Recognition
    • Digital Image Processing
  • On the basis of component:
    • Hardware
    • Software
    • Services
  • On the basis of applications:
    • Security and Surveillance
    • Scanning and Imaging
    • Marketing and Advertising
    • Augmented Reality
    • Image Search
  • On the basis of deployment types:
    • On-Premises
    • Cloud
  • On the basis of verticals:
    • BFSI
    • Healthcare
    • Government
    • IT and Telecom
    • Retail and Consumer Goods
    • Media and Entertainment
    • Transportation and Logistics
    • Others (Education and Gaming)
  • On the basis of regions:
    • North America
    • Europe
    • Asia Pacific (APAC)
    • Middle East and Africa (MEA)
    • Latin America

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Year Considered in the Report
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Key Data From Secondary Sources
           2.1.2 Key Data From Primary Sources
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Assumptions

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 28)
    4.1 Attractive Market Opportunities in the Image Recognition Market
    4.2 Market By Top Industries and Regions
    4.3 Image Recognition Market Potential
    4.4 Image Recognition Deployment Type Market, By Region (2015)
    4.5 Image Recognition Solution Market
    4.6 Lifecycle Analysis, By Region (2015)

5 Market Overview (Page No. - 32)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 By Technology
           5.2.2 By Component
           5.2.3 By Application
           5.2.4 By Deployment Type
           5.2.5 By Industry
           5.2.6 By Region
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Increasing Usage of Smartphones
                    5.3.1.2 Rising Security Concerns
                    5.3.1.3 Technology Acceptance By Various Verticals
           5.3.2 Restraints
                    5.3.2.1 Lack of Technology Awareness
           5.3.3 Opportunities
                    5.3.3.1 Demand for Data Analytics
                    5.3.3.2 Increasing Use in Branding, Media, and Entertainment
           5.3.4 Challenges
                    5.3.4.1 Low Quality of Scanning Video Technology
                    5.3.4.2 Image Size and Storage

6 Industry Trends (Page No. - 40)
    6.1 Introduction
    6.2 Value Chain Analysis
           6.2.1 Image Recognition Solution Providers
           6.2.2 Open Source Providers
           6.2.3 Cloud Service Providers
    6.3 Porter’s Five Forces Analysis
           6.3.1 Threat of New Entrants
           6.3.2 Threat of Substitutes
           6.3.3 Bargaining Power of Suppliers
           6.3.4 Bargaining Power of Buyers
           6.3.5 Intensity of Competitive Rivalry
    6.4 Emerging Trends
           6.4.1 Combination of Gps and Image Recognition
           6.4.2 Communication Through Image Recognition Technologies

7 Image Recognition Market Analysis, By Technology (Page No. - 45)
    7.1 Introduction
    7.2 Code Recognition
    7.3 Digital Image Processing
    7.4 Facial Recognition
    7.5 Object Recognition
    7.6 Pattern Recognition
    7.7 Optical Character Recognition

8 Image Recognition Market Analysis, By Component (Page No. - 52)
    8.1 Introduction
    8.2 Hardware
    8.3 Software
    8.4 Services
           8.4.1 Managed Services
           8.4.2 Professional Services
           8.4.3 Training, Support and Maintenance Services

9 Image Recognition Market Analysis, By Application (Page No. - 59)
    9.1 Introduction
    9.2 Scanning and Imaging
    9.3 Security and Surveillance
    9.4 Image Search
    9.5 Augmented Reality
    9.6 Marketing and Advertising

10 Image Recognition Market Analysis, By Deployment Type (Page No. - 65)
     10.1 Introduction
     10.2 On-Premises
     10.3 On-Cloud

11 Image Recognition Market Analysis, By Industry (Page No. - 69)
     11.1 Introduction
     11.2 Banking, Financial Services and Insurance
     11.3 Media and Entertainment
     11.4 Retail and Consumer Goods
     11.5 IT and Telecom
     11.6 Government
     11.7 Healthcare
     11.8 Transportation and Logistics
     11.9 Others (Education and Gaming)

12 Geographic Analysis (Page No. - 78)
     12.1 Introduction
     12.2 North America
     12.3 Europe
     12.4 Asia-Pacific
     12.5 Middle East and Africa
     12.6 Latin America

13 Competitive Landscape (Page No. - 97)
     13.1 Overview
     13.2 Competitive Situation and Trends
              13.2.1 New Product Launches
              13.2.2 Partnerships
              13.2.3 Acquisitions

14 Company Profiles (Page No. - 102)
(Overview, Products & Services, Strategies & Insights, Developments and MnM View)*
     14.1 Introduction
     14.2 Qualcomm Technologies, Inc.
     14.3 NEC Corporation
     14.4 Google Inc.
     14.5 LTU Technologies
     14.6 Catchoom Technologies S.L.
     14.7 Honeywell International, Inc.
     14.8 Hitachi, Ltd
     14.9 Slyce Holding, Inc.
     14.10 Wikitude GmbH
     14.11 Attrasoft, Inc.

*Details on Overview, Products & Services, Strategies & Insights, Developments and MnM View Might Not Be Captured in Case of Unlisted Companies.

15 Innovator Company Profiles (Page No. - 125)
     15.1 Blippar
              15.1.1 Company Overview
              15.1.2 Push for the Technology
              15.1.3 Recent Developments
     15.2 Planorama
              15.2.1 Company Overview
              15.2.2 Push for the Technology
              15.2.3 Recent Developments
     15.3 Ricoh Innovations Corporation
              15.3.1 Company Overview
              15.3.2 Push for the Technology
     15.4 PRC GmbH
              15.4.1 Company Overview
              15.4.2 Push for the Technology

16 Other Developments (Page No. - 129)
     16.1 New Product Launches, 2012-2015
     16.2 Partnerships, 2012-2015
     16.3 Acquisitions, 2012-2015

17 Appendix (Page No. - 131)
     17.1 Discussion Guide
     17.2 Introducing RT: Real-Time Market Intelligence
     17.3 Available Customizations
     17.4 Related Reports

 

List of Tables (62 Tables)

Table 1 Global Market Size and Growth Rate,2013–2020 (USD Million, Yoy %)
Table 2 Image Recognition Market, By Technology, 2013–2020 (USD Million)
Table 3 Code Recognition: Market Size, By Region,2013–2020 (USD Million)
Table 4 Digital Image Processing: Market Size, By Region, 2013–2020 (USD Million)
Table 5 Facial Recognition: Market Size, By Region,2013–2020 (USD Million)
Table 6 Object Recognition: Market Size, By Region,2013–2020 (USD Million)
Table 7 Pattern Recognition: Market Size, By Region,2013–2020 (USD Million)
Table 8 Optical Character Recognition: Market Size,By Region, 2013–2020 (USD Million)
Table 9 Image Recognition Market Size, By Component, 2013–2020 (USD Million)
Table 10 Hardware: Market Size, By Region,2013–2020 (USD Million)
Table 11 Software: Market Size, By Region,2013–2020 (USD Million)
Table 12 Services : Market Size, By Region,2013–2020 (USD Million)
Table 13 Managed Services: Market Size, By Region,2013–2020 (USD Million)
Table 14 Professional Services: Market Size, By Region, 2013–2020 (USD Million)
Table 15 Training, Support and Maintenance Service: Market Size, By Region, 2013–2020 (USD Million)
Table 16 Image Recognition Market Size, By Application, 2013–2020 (USD Million)
Table 17 Scanning and Imaging: Market Size, By Region,2013–2020 (USD Million)
Table 18 Security and Surveillance: Market Size, By Region, 2013–2020 (USD Million)
Table 19 Image Search: Market Size, By Region ,2013–2020 (USD Million)
Table 20 Augmented Reality Market: Market Size, By Region, 2013–2020 (USD Million)
Table 21 Marketing and Advertising Market: Market Size,By Region, 2013–2020 (USD Million)
Table 22 Image Recognition Market, By Deployment Type,2013–2020 (USD Million)
Table 23 On-Premises Market: Market Size, By Region,2013–2020 (USD Million)
Table 24 Cloud Deployment Type: Market Size, By Region, 2013–2020 (USD Million)
Table 25 Image Recognition Market Size, By Industry, 2013–2020 (USD Million)
Table 26 BFSI: Market Size, By Region, 2013–2020 (USD Million)
Table 27 Media and Entertainment Market: Market Size,By Region, 2013–2020 (USD Million)
Table 28 Retail and Consumer Goods: Market Size, By Region, 2013–2020 (USD Million)
Table 29 IT and Telecom: Market Size, By Region,2013–2020 (USD Million)
Table 30 Government: Market Size, By Region,2013–2020 (USD Million)
Table 31 Healthcare: Market Size, By Region,2013–2020 (USD Million)
Table 32 Transportation and Logistics Market: Market Size, By Region, 2013–2020 (USD Million)
Table 33 Others : Market Size, By Region,2013–2020 (USD Million)
Table 34 Image Recognition Market Size, By Region, 2013–2020 (USD Million)
Table 35 North America: Market Size, By Technology,2013–2020 (USD Million)
Table 36 North America: Market Size, By Component,2013–2020 (USD Million)
Table 37 North America: Market Size, By Application,2013–2020 (USD Million)
Table 38 North America: Market Size, By Deployment Type, 2013–2020 (USD Million)
Table 39 North America: Market Size, By Industry,2013–2020 (USD Million)
Table 40 Europe: Market Size, By Technology,2013–2020 (USD Million)
Table 41 Europe: Market Size, By Component,2013–2020 (USD Million)
Table 42 Europe: Market Size, By Application,2013–2020 (USD Million)
Table 43 Europe: Market Size, By Deployment Type,2013–2020 (USD Million)
Table 44 Europe: Market Size, By Industry,2013–2020 (USD Million)
Table 45 Asia-Pacific: Market Size, By Technology,2013–2020 (USD Million)
Table 46 Asia-Pacific: Market Size, By Component,2013–2020 (USD Million)
Table 47 Asia-Pacific: Market Size, By Application,2013–2020 (USD Million)
Table 48 Asia-Pacific: Market Size, By Deployment Type,2013–2020 (USD Million)
Table 49 Asia-Pacific: Market Size, By Industry,2013–2020 (USD Million)
Table 50 Middle East and Africa: Market Size, By Technology, 2013–2020 (USD Million)
Table 51 Middle East and Africa: Market Size, By Component, 2013–2020 (USD Million)
Table 52 Middle East and Africa: Market Size, By Application, 2013–2020 (USD Million)
Table 53 Middle East and Africa: Market Size, By Deployment Type, 2013–2020 (USD Million)
Table 54 Middle East and Africa: Market Size, By Industry, 2013–2020 (USD Million)
Table 55 Latin America: Market Size, By Technology,2013–2020 (USD Million)
Table 56 Latin America: Market Size, By Component,2013–2020 (USD Million)
Table 57 Latin America: Market Size, By Application,2013–2020 (USD Million)
Table 58 Latin America: Market Size, By Deployment Type, 2013–2020 (USD Million)
Table 59 Latin America: Image Recognition Market Size, By Industry,2013–2020 (USD Million)
Table 60 New Product Launches, 2012-2015
Table 61 Partnerships, 2012-2016
Table 62 Acquisitions, 2012-2015


List of Figures (57 Figures)
 
Figure 1 Image Recognition Market: Research Design
Figure 2 Breakdown of Primary Interview: By Company Type, Designation, And Region
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Market Size, Applications Snapshot (2015–2020): Market for Security and Surveillance is Expected to Grow at the Fastest Rate
Figure 7 Market Size, Industry Vertical Snapshot(2015–2020): Media and Entertainment, Retail and Consumer Goods Industries Expected to Dominate the Market
Figure 8 Global Image Recognition Market Share: North America is Expected to Hold the Largest Market Share in 2015
Figure 9 Growing Usage of Smartphones for Image Recognition Applications is Driving the Market
Figure 10 Media and Entertainment Industry is Expected to Have the Largest Market Size in 2015
Figure 11 Asia-Pacific is Expected to Have the Highest Market Growth Potential During the Forecast Period
Figure 12 On-Premises is Expected to Continue to Dominate the Image Recognition Market During the Forecast Period
Figure 13 Services Segment is Expected to Grow Faster Than Hardware and Software Market
Figure 14 Europe and APAC is Expected to Be in the Introduction Phase in 2015
Figure 15 Market Segmentation: By Technology
Figure 16 Market Segmentation: By Component
Figure 17 Market Segmentation: By Application
Figure 18 Market Segmentation: By Deployment Type
Figure 19 Market Segmentation: By Industry
Figure 20 Market Segmentation: By Region
Figure 21 Market: Drivers, Restraints, Opportunities, And Challenges
Figure 22 Value Chain Analysis
Figure 23 Image Recognition Market: Porter’s Five Forces Analysis
Figure 24 Code Recognition is Expected to Contribute the Highest to the Market
Figure 25 North America is Expected to Hold the Largest Market Share of the Market.
Figure 26 North America and Europe are Expected to Adopt Pattern Recognition Technology Swiftly During the Forecast Period
Figure 27 Services Segment is Expected to Contribute the Highest to the Image Recognition Market
Figure 28 Hardware Market to Grow Significantly in North America During the Forecast Period
Figure 29 Software Segment is Expected to Grow With the Highest Rate in Asia-Pacific During the Forecast Period
Figure 30 Services Market Expected to Grow Significantly in Asia-Pacific During the Forecast Period
Figure 31 Security & Surveillance is Expected to Grow at the Highest Growth Rate During the Forecast Period
Figure 32 Asia Pacific is Expected to Grow at the Highest CAGR for Security and Surveillance Application
Figure 33 North America to Adopt Image Recognition Solutions for Augmented Reality Application
Figure 34 On-Premises is Expected to Contribute the Highest to the Image Recognition Market in 2015
Figure 35 On-Premises Deployment Type Will Grow Substantially in Asia-Pacific
Figure 36 North America is Expected to Dominate the Cloud Deployment Market During the Forecast Period
Figure 37 Media and Entertainment Industry is Growing at the Highest Rate Among Industries in the Image Recognition Market
Figure 38 Asia Pacific Region for Retail and Consumer Goods Market is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 39 Government Sector Adopts Image Recognition Solutions Considerably in Asia-Pacific
Figure 40 Transportation and Logistics Industry Adopts Image Recognition Solutions Considerably in Europe
Figure 41 Geographic Analysis of Regions
Figure 42 North America Market Snapshot: On-Premises Deployment to Contribute Maximum to the Market
Figure 43 Asia-Pacific Market Snapshot: Healthcare Industry Expected to Gain Popularity Among the Users
Figure 44 Companies Adopted New Product Launches as the Key Growth Strategy Over the Last 3 Years
Figure 45 Market Evaluation Framework
Figure 46 Battle for Market Share: New Product Launches and Partnerships Were the Key Strategies
Figure 47 Geographic Revenue Mix of Top Four Market Players
Figure 48 Qualcomm Technologies, Inc.: Company Snapshot
Figure 49 Qualcomm Technologies: SWOT Analysis
Figure 50 NEC Corporation: Company Snapshot
Figure 51 NEC Corporation:SWOT Analysis
Figure 52 Google, Inc.: Company Snapshot
Figure 53 Google: SWOT Analysis
Figure 54 LTU Technologies:SWOT Analysis
Figure 55 Catchoom Technologies, S.L.:SWOT Analysis
Figure 56 Honeywell International, Inc.: Company Snapshot
Figure 57 Hitachi, Ltd: Company Snapshot

The image recognition market is estimated to grow from USD 12.49 Billion in 2015 to USD 29.98 Billion by 2020. This market is expected to grow at an impressive Compound Annual Growth Rate (CAGR) of 19.1% because of the increasing need of image recognition technology and applications among consumer and enterprises for various purposes such as security, image search, and shopping. Also, other significant factors driving this market are increasing Return on Investment (ROI), and rising usage of smartphones for image search.

The digital image processing technology is expected to have the largest market share and dominate the image recognition market from 2015 to 2020, due to the increasing use of smartphones and tablets for purchasing and selling online products and services. The use of this digital image processing technology is helping enterprises in various industries to grow their business. Improved customer motivation helps in driving overall customer productivity, which increases the use of image recognition technologies.

Marketing and advertising is one such field in which image recognition is being implemented rigorously. It helps in developing a foolproof roadmap to maintain and uphold product and service brand name and image by various methods. Also, security and surveillance is another major field, which is making use of image recognition solutions. It is the fastest-growing application type among image recognition applications as it benefits organizations by providing security to confidential documents along with access and identity management. Image recognition software plays a vital role in the marketing field as these are demanded by organizations to expand their prospective client base. A significant part of marketing consists of product search and identification of suitable solutions for improving overall consumer experience. Smart image search techniques motivate consumers and ensure consumer loyalty that brands look out for to sustain in this cut-throat competition.

The image recognition technologies and components are being increasingly adopted in various verticals, such as media and entertainment, retail and consumer goods, and IT and telecom which have led to the growth of the market across the globe. The media and entertainment sector is expected to grow at the highest rate from 2015 to 2020.

Image Recognition Market

North America is expected to hold the largest market share and dominate the image recognition market from 2015 to 2020. The higher adoption rate is expected to streamline business operations in North America. Asia-Pacific offers potential growth opportunities, as there is a rise in data analytics and cloud technologies adoption among small and medium enterprise and enterprises to enhance employee security and consumer retention.

However, the lack of awareness regarding the advantages of image recognition restricts the market growth. Also, the market needs a common framework or platform on which all services and devices can interoperate and scale, and be efficient and widely available across diverse spectrum of industries. The major vendors in the image recognition market include Catchoom, LTU Technologies, Google, Inc, NEC Corporation, Qualcomm Technologies, Wikitude Gmbh, Honeywell, Hitachi, SLYCE, and Attrasoft. These players adopted various strategies such as new product developments, mergers, partnerships, collaborations, and business expansion to cater to the needs of the market.

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