Image Recognition in Retail Market

Image Recognition in Retail Market by Technology (Code Recognition, Digital Image Processing) Component (Software and Services), Application (Visual Product Search, Security Surveillance), Deployment Type, and Region - Global Forecast to 2025

Report Code: TC 7704 Jul, 2020, by marketsandmarkets.com

[186 Pages Report] MarketsandMarkets forecasts the global image recognition in retail market size to grow from USD 1.4 billion in 2020 to USD 3.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 22.0% during the forecast period. Need to increase on-shelf availability, enhance customer experience, and maximize RoI is one of the major factors expected to drive the growth of this market.

Image Recognition in Retail Market

COVID-19 Impact on the Global Image Recognition in Retail Market

The COVID-19 pandemic is expected to impact the global retail industry. The major impact of COVID-19 observed on the image recognition in retail market is reduction in in-store shoppers, which in turn, there is reduction in retail sales. Image recognition in retail includes technologies to enhance the in-store experiences of customers. Since the disease is spreading enormously, shoppers are avoiding crowded places and are not gathering at public places such as malls and stores. This has adversely affected the sales rate of the retail sector due to the shutting down of stores and malls in the pandemic period resulting in hefty losses to owners.

Image Recognition in Retail Market Dynamics

Driver: Need to increase on-shelf availability, enhance customer experience, and maximize RoI

Retailers have started to leverage the capabilities of image recognition applications to make enhanced decisions in the most minimum possible time. Image recognition technologies reduce manual errors in audits and finding out-of-stock products. Thus, it helps retailers increase the on-shelf availability of products before they are out-of-stock. Therefore, image recognition software can help retail businesses manage the entire workload, including the audit, ensure planogram compliance, SKU positions, and monitor shelves efficiently. The aforementioned benefits of image recognition help retailers to emphasize more on generating revenue and increasing their sales. Moreover, image recognition helps retailers eliminates labor costs and enables employees to focus on core functionalities. Image recognition is further expected to transform the retail business by helping enterprises identify and answer complex problems while empowering people and businesses to make smarter decisions, thereby improving productivity. Image recognition further offers a huge market potential for businesses to grow and add more value to their offerings.

Restraint: High risk related to customer data thefts

The image recognition technology processes image data and provide the user with desired outputs. It also requires related technologies to enhance its functionalities, such as Machine Learning (ML), deep learning, Natural Language Processing (NLP), and facial recognition to processes on the stored data and provides actionable results. These technologies churn useful information from enormous volumes of data and help businesses in making critical decisions. Presently, data theft is one of the global risks faced by several shoppers. For shopping, customers require to feed details such as profile image, location, and bank accounts to mobile apps of a particular store. Furthermore, in the case of outsourcing data analysis to a third-party Business Intelligence (BI) vendor, organizations have to ensure that the BI vendor secures the customer’s data appropriately.

Opportunity: Growing adoption of cloud-based image recognition solutions

The exponential growth in cloud services offers a huge space for image recognition vendors to grow and expand to different locations. Cloud computing is proving to be beneficial for retailers. Most solution provider companies are deploying the solution on demand for their customers, and this is shifting the trend toward a cloud-based IT framework. The implementation cost and hardware cost for image recognition technologies are expensive, and every retailer does not have dedicated IT resources and robust infrastructure to support it. The implementation cost is one of the major factors for businesses to adopt image recognition solutions through cloud-based deployments. The cloud computing pay-per-use module and security features are cost-efficient for businesses. Cloud-based image recognition solutions reduce the upfront costs and eliminate concerns with regards to the maintenance of servers. Thus, cloud-based image recognition solutions are useful, as they improve the scalability of images capture and are cost-effective for retailers that find on-premises solutions expensive. The increasing adoption of cloud-based technology is a great opportunity for the growth of image recognition solution providers in retail, which would eliminate concerns related to expenditure and installation process

Challenge: Low resolution image size and storage issues

When a staff member clicks images of a large number of shelf images from various stores, there are high chances of capturing blurry images. A large number of images are rejected due to the lack of sophisticated technology to detect poor quality images in real time. Collecting such a huge amount of image data is very expensive for product recognition. Thus, there is a need for high-resolution images to be captured. When an image recognition technology detects a face, figure, or a product in an image or a still photo from video capture, the relative size of that face as compared to the enrolled image size affects how well the face will be recognized. A High Definition (HD) video has a low resolution compared to images captured via digital cameras, and thus occupies a significant amount of disk space. Heavy data transfer requires more computers over a network, which further limits the processing speed. Therefore, low resolution images and the lack of storage data could pose major challenges for image recognition solution providers

Digital Processing Image segment to grow at the highest CAGR during the forecast period

The adoption of digital image processing is rising significantly due to the growing use of digital images in almost every field. It uses computer algorithms to perform image processing on digital images. The technique further helps in the processing of videos and removing blur images, apart from providing easy compression and transmission of images. It further enables a wider range of algorithms to be applied to the input data and avoid problems, such as noise build-up and signal distortion during the processing of data. The technology further allows images to be defined over two dimensions or more, which categorizes digital image processing as multidimensional systems.

Vision Analytics segment to grow at the highest CAGR during the forecast period

The first and foremost area where image recognition has created value is vision analytics, which is crucial in understanding trend-based on historical data. Retailers have the constant need to anticipate future trend in order to stay ahead in the market and generate maximum revenue. The vision analytics application provides relevant insights by accurately recognizing objects in images. The application’s insights are not limited to purchasing behavior, and its capability extends to assess almost every possible aspect related to retail, including pricing, on-shelf product availability, sales, and many more. It also helps retailers to understand the geographical trend. Thus, vision analytics helps retailers to make informed decisions for future growth.

Image Recognition in Retail Market by Region

North America to hold the largest market size during the forecast period

North America is expected to hold the largest market size in the global image recognition in retail market, while Asia Pacific (APAC) is likely to grow at the highest CAGR during the forecast period. North America is expected to be the leading region in terms of adopting image recognition in retail solutions and services. The US and Canada are expected to be the major contributors to the North American market. Enterprises in the region are the most progressive in terms of the adoption of Artificial Intelligence (AI), Machine Learning (ML), and cloud adoption, thereby boosting the growth of the image recognition in retail market. Moreover, the presence of major image recognition in retail vendors in the region to drive market growth.

The image recognition in retail market is dominated by a few globally established players such as, IBM (US), AWS (US), Trax (Singapore), Microsoft (US), and Google (US).

Scope of Report

Report Metrics

Details

Market size available for years

2014–2025

Base year considered

2019

Forecast period

2020–2025

Forecast unit

Value (USD Million)

Segments covered

Technology, Component, Application, Deployment Type, and Region

Geographies covered

North America, Europe, APAC, MEA, and Latin America

Companies covered

The major market players include IBM (US), AWS (US), Google (US), Microsoft (US), and Trax (Singapore) (Total 26 companies)

This research report categorizes the image recognition in retail market to forecast revenues and analyze trends in each of the following submarkets:

By Technology:

  • Code Recognition
  • Digital Image Processing
  • Facial Recognition
  • Object Recognition
  • Others

By Component:

  • Software
  • Services
    • Professional Services
    • Managed Services

By Application:

  • Visual Product Search
  • Security and Surveillance
  • Vision Analytics
  • Marketing and Advertising
  • Others

By Deployment Type:

  • On-Premises
  • Cloud

By Region:

  • North America
    • United States (US)
    • Canada
  • Europe
    • United Kingdom (UK)
    • Germany
    • Rest of Europe
  • APAC
    • China
    • India
    • Rest of APAC
  • MEA
    • United Arab Emirates (UAE)
    • Saudi Arabia
    • Rest of MEA
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America

Recent Developments

  • In April 2020, Microsoft partnered with Coca-Cola. The partnership aims to regulate its business operations on Microsoft Azure cloud and offer rich new digital experiences that will provide innovative solutions. These solutions will aid the Coca-Cola Company achieve new insights from data across the enterprise, enabling a 360-degree view of the business, and increases customer and employee experiences.
  • In March 2020, Trax acquired Survey.com to combine both companies’ technologies, cater to needs of emerging CPG market and grocery retailers, and strengthen its position in image recognition in retail market.
  • In August 2019, AWS enhanced Amazon Rekognition. The enhanced solution provides high accuracy of gender identification and emotion detection; and improved functionality to its face analysis features.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 26)
    1.1 INTRODUCTION TO COVID-19
    1.2 COVID-19 HEALTH ASSESSMENT
           FIGURE 1 COVID-19: THE GLOBAL PROPAGATION
           FIGURE 2 COVID-19 PROPAGATION: SELECT COUNTRIES
    1.3 COVID-19 ECONOMIC ASSESSMENT
           FIGURE 3 REVISED GROSS DOMESTIC PRODUCT FORECASTS FOR SELECT G20 COUNTRIES IN 2020
           1.3.1 COVID-19 ECONOMIC IMPACT—SCENARIO ASSESSMENT
                    FIGURE 4 CRITERIA IMPACTING THE GLOBAL ECONOMY
                    FIGURE 5 SCENARIOS IN TERMS OF RECOVERY OF THE GLOBAL ECONOMY
    1.4 OBJECTIVES OF THE STUDY
    1.5 MARKET DEFINITION
           1.5.1 INCLUSIONS AND EXCLUSIONS
    1.6 MARKET SCOPE
           1.6.1 MARKET SEGMENTATION
                    FIGURE 6 IMAGE RECOGNITION IN RETAIL MARKET: MARKET SEGMENTATION
                    FIGURE 7 MARKET: REGIONS COVERED
           1.6.2 YEARS CONSIDERED FOR THE STUDY
    1.7 CURRENCY CONSIDERED
           TABLE 1 UNITED STATES DOLLAR EXCHANGE RATE, 2017–2019
    1.8 STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 35)
    2.1 RESEARCH DATA
           FIGURE 8 IMAGE RECOGNITION IN RETAIL MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
           2.1.2 PRIMARY DATA
                    2.1.2.1 Breakup of primary profiles
                    2.1.2.2 Key industry insights
    2.2 MARKET BREAKUP AND DATA TRIANGULATION
    2.3 MARKET SIZE ESTIMATION
           FIGURE 9 MARKET:  TOP-DOWN AND BOTTOM-UP APPROACHES
           2.3.1 TOP-DOWN APPROACH
           2.3.2 BOTTOM-UP APPROACH
                    FIGURE 10 IMAGE RECOGNITION IN RETAIL MARKET: RESEARCH METHODOLOGY
                    FIGURE 11 MARKET SIZE ESTIMATION METHODOLOGY: ILLUSTRATIVE EXAMPLE OF AMAZON WEB SERVICES
    2.4 MARKET FORECAST
           TABLE 2 FACTOR ANALYSIS
    2.5 ASSUMPTIONS FOR THE STUDY
    2.6 LIMITATIONS OF THE STUDY

3 EXECUTIVE SUMMARY (Page No. - 43)
    TABLE 3 GLOBAL IMAGE RECOGNITION IN RETAIL MARKET SIZE, 2018–2025 (USD MILLION)
    FIGURE 12 SEGMENTS WITH HIGH MARKET SHARES IN THE MARKET IN 2020
    FIGURE 13 NORTH AMERICA TO ACCOUNT FOR THE HIGHEST MARKET SHARE IN 2020

4 PREMIUM INSIGHTS (Page No. - 46)
    4.1 ATTRACTIVE OPPORTUNITIES IN THE  IMAGE RECOGNITION IN RETAIL MARKET
           FIGURE 14 INCREASING TECHNOLOGICAL DEVELOPMENTS TO BOOST THE ADOPTION OF IMAGE RECOGNITION SOLUTIONS AMONG RETAILERS
    4.2 NORTH AMERICA: MARKET,  BY COMPONENT AND COUNTRY, 2020
           FIGURE 15 SOFTWARE SEGMENT AND UNITED STATES TO ACCOUNT FOR HIGHER MARKET SHARES IN 2020
    4.3 MARKET,  BY DEPLOYMENT TYPE, 2020–2025
           FIGURE 16 CLOUD DEPLOYMENT TYPE TO GROW AT A HIGHER GROWTH RATE DURING THE FORECAST PERIOD
    4.4 MARKET,  BY COMPONENT, 2020–2025
           FIGURE 17 SERVICES SEGMENT TO GROW AT A HIGHER GROWTH RATE DURING THE FORECAST PERIOD

5 MARKET OVERVIEW (Page No. - 48)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 18 IMAGE RECOGNITION IN RETAIL MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Increasing technological developments to boost the adoption of image recognition solutions among retailers
                    5.2.1.2 Need to increase on-shelf availability, enhance customer experience, and maximize RoI
                               FIGURE 19 MARKET: DRIVERS AND THEIR IMPACT
           5.2.2 RESTRAINTS
                    5.2.2.1 High risk related to customer data thefts
                    5.2.2.2 High cost of image recognition services
                               FIGURE 20 MARKET: RESTRAINTS AND THEIR IMPACT
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Increasing need to make informed decisions among retailers
                    5.2.3.2 Growing adoption of cloud-based image recognition solutions
                    5.2.3.3 Rising demand for brand recognition among end users
                               FIGURE 21 MARKET: OPPORTUNITIES AND THEIR IMPACT
           5.2.4 CHALLENGES
                    5.2.4.1 Low resolution image size and storage issues
                    5.2.4.2 Growing instances of shoplifting
                               FIGURE 22 MARKET: CHALLENGES AND THEIR IMPACT
    5.3 ADJACENT MARKETS
                    TABLE 4 ADJACENT MARKETS TO MARKET
    5.4 USE CASES
           5.4.1 USE CASE 1: PARALLELDOTS
           5.4.2 USE CASE 2: TRAX
           5.4.3 USE CASE 3: VISPERA

6 IMAGE RECOGNITION IN RETAIL MARKET, BY TECHNOLOGY (Page No. - 56)
    6.1 INTRODUCTION
           6.1.1 TECHNOLOGY: COVID-19 IMPACT
                    FIGURE 23 DIGITAL IMAGE PROCESSING SEGMENT TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
                    TABLE 5 MARKET SIZE, BY TECHNOLOGY, 2018–2025 (USD MILLION)
    6.2 CODE RECOGNITION
           TABLE 6 CODE RECOGNITION: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
    6.3 DIGITAL IMAGE PROCESSING
           TABLE 7 DIGITAL IMAGE PROCESSING: MARKET SIZE,  BY REGION, 2018–2025 (USD MILLION)
    6.4 FACIAL RECOGNITION
           TABLE 8 FACIAL RECOGNITION: MARKET SIZE,  BY REGION,  2018–2025 (USD MILLION)
    6.5 OBJECT RECOGNITION
           TABLE 9 OBJECT RECOGNITION: MARKET SIZE, BY REGION,  2018–2025 (USD MILLION)
    6.6 OTHER TECHNOLOGIES
           TABLE 10 OTHER TECHNOLOGIES: MARKET SIZE, BY REGION,  2018–2025 (USD MILLION)

7 IMAGE RECOGNITION IN RETAIL MARKET, BY COMPONENT (Page No. - 62)
    7.1 INTRODUCTION
           7.1.1 COMPONENT: COVID-19 IMPACT
                    FIGURE 24 SERVICES SEGMENT TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD
                    TABLE 11 MARKET SIZE, BY COMPONENT, 2018–2025 (USD MILLION)
    7.2 SOFTWARE
           TABLE 12 SOFTWARE: MARKET SIZE, BY REGION,  2018–2025 (USD MILLION)
    7.3 SERVICES
           TABLE 13 SERVICES: MARKET SIZE, BY REGION,  2018–2025 (USD MILLION)
           FIGURE 25 MANAGED SERVICES SEGMENT TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD
           TABLE 14 SERVICES: MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
           7.3.1 PROFESSIONAL SERVICES
                    TABLE 15 PROFESSIONAL SERVICES: MARKET SIZE, BY REGION,  2018–2025 (USD MILLION)
           7.3.2 MANAGED SERVICES
                    TABLE 16 MANAGED SERVICES: MARKET SIZE, BY REGION,  2018–2025 (USD MILLION)

8 IMAGE RECOGNITION IN RETAIL MARKET, BY APPLICATION (Page No. - 68)
    8.1 INTRODUCTION
           8.1.1 APPLICATION: COVID-19 IMPACT
                    FIGURE 26 VISION ANALYTICS SEGMENT TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
                    TABLE 17 MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
    8.2 VISUAL PRODUCT SEARCH
           TABLE 18 VISUAL PRODUCT SEARCH: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
    8.3 SECURITY AND SURVEILLANCE
           TABLE 19 SECURITY AND SURVEILLANCE: MARKET SIZE,  BY REGION, 2018–2025 (USD MILLION)
    8.4 VISION ANALYTICS
           TABLE 20 VISION ANALYTICS: MARKET SIZE, BY REGION,  2018–2025 (USD MILLION)
    8.5 MARKETING AND ADVERTISING
           TABLE 21 MARKETING AND ADVERTISING: MARKET SIZE,  BY REGION, 2018–2025 (USD MILLION)
    8.6 OTHER APPLICATIONS
           TABLE 22 OTHER APPLICATIONS: MARKET SIZE, BY REGION,  2018–2025 (USD MILLION)

9 IMAGE RECOGNITION IN RETAIL MARKET, BY DEPLOYMENT TYPE (Page No. - 75)
    9.1 INTRODUCTION
           9.1.1 DEPLOYMENT TYPE: COVID-19 IMPACT
                    FIGURE 27 CLOUD SEGMENT TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD
                    TABLE 23 MARKET SIZE, BY DEPLOYMENT TYPE,  2018–2025 (USD MILLION)
    9.2 ON-PREMISES
           TABLE 24 ON-PREMISES: MARKET SIZE, BY REGION,  2018–2025 (USD MILLION)
    9.3 CLOUD
           TABLE 25 CLOUD: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)

10 IMAGE RECOGNITION IN RETAIL MARKET, BY REGION (Page No. - 79)
     10.1 INTRODUCTION
               FIGURE 28 ASIA PACIFIC TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
               TABLE 26 MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
     10.2 NORTH AMERICA
             10.2.1 NORTH AMERICA: COVID-19 IMPACT
                       FIGURE 29 NORTH AMERICA: MARKET SNAPSHOT
                       TABLE 27 NORTH AMERICA: MARKET SIZE, BY TECHNOLOGY,  2018–2025 (USD MILLION)
                       TABLE 28 NORTH AMERICA: MARKET SIZE,  BY COMPONENT,  2018–2025 (USD MILLION)
                       TABLE 29 NORTH AMERICA: MARKET SIZE, BY SERVICE,  2018–2025 (USD MILLION)
                       TABLE 30 NORTH AMERICA: MARKET SIZE,  BY APPLICATION,  2018–2025 (USD MILLION)
                       TABLE 31 NORTH AMERICA: MARKET SIZE, BY DEPLOYMENT TYPE,  2018–2025 (USD MILLION)
                       TABLE 32 NORTH AMERICA: IMAGE RECOGNITION IN RETAIL MARKET SIZE,  BY COUNTRY,  2018–2025 (USD MILLION)
                       TABLE 33 NORTH AMERICA: CODE RECOGNITION MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 34 NORTH AMERICA: DIGITAL IMAGE PROCESSING MARKET SIZE, BY COUNTRY,  2018–2025 (USD MILLION)
                       TABLE 35 NORTH AMERICA: FACIAL RECOGNITION MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 36 NORTH AMERICA: OBJECT RECOGNITION MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 37 NORTH AMERICA: OTHER TECHNOLOGIES MARKET SIZE, BY COUNTRY,  2018–2025 (USD MILLION)
                       TABLE 38 NORTH AMERICA: SOFTWARE MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 39 NORTH AMERICA: SERVICES MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 40 NORTH AMERICA: PROFESSIONAL SERVICES MARKET SIZE, BY COUNTRY,  2018–2025 (USD MILLION)
                       TABLE 41 NORTH AMERICA: MANAGED SERVICES MARKET SIZE, BY COUNTRY,  2018–2025 (USD MILLION)
                       TABLE 42 NORTH AMERICA: VISUAL PRODUCT SEARCH MARKET SIZE, BY COUNTRY,  2018–2025 (USD MILLION)
                       TABLE 43 NORTH AMERICA: SECURITY SURVEILLANCE MARKET SIZE, BY COUNTRY,  2018–2025 (USD MILLION)
                       TABLE 44 NORTH AMERICA: VISION ANALYTICS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 45 NORTH AMERICA: MARKETING AND ADVERTISING MARKET SIZE,  BY COUNTRY,  2018–2025 (USD MILLION)
                       TABLE 46 NORTH AMERICA: OTHER APPLICATIONS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 47 NORTH AMERICA: ON-PREMISES MARKET SIZE, BY COUNTRY,  2018–2025 (USD MILLION)
                       TABLE 48 NORTH AMERICA: CLOUD MARKET SIZE, BY COUNTRY,  2018–2025 (USD MILLION)
             10.2.2 UNITED STATES
                       TABLE 49 UNITED STATES: IMAGE RECOGNITION IN RETAIL MARKET SIZE, BY TECHNOLOGY,  2018–2025 (USD MILLION)
                       TABLE 50 UNITED STATES: MARKET SIZE, BY COMPONENT,  2018–2025 (USD MILLION)
                       TABLE 51 UNITED STATES: MARKET SIZE, BY SERVICE,  2018–2025 (USD MILLION)
                       TABLE 52 UNITED STATES: MARKET SIZE, BY APPLICATION,  2018–2025 (USD MILLION)
                       TABLE 53 UNITED STATES: MARKET SIZE, BY DEPLOYMENT TYPE, 2018–2025 (USD MILLION)
             10.2.3 CANADA
                       TABLE 54 CANADA: MARKET SIZE, BY TECHNOLOGY,  2018–2025 (USD MILLION)
                       TABLE 55 CANADA: MARKET SIZE, BY COMPONENT,  2018–2025 (USD MILLION)
                       TABLE 56 CANADA: MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
                       TABLE 57 CANADA: MARKET SIZE, BY APPLICATION,  2018–2025 (USD MILLION)
                       TABLE 58 CANADA: IMAGE RECOGNITION IN RETAIL MARKET SIZE, BY DEPLOYMENT TYPE,  2018–2025 (USD MILLION)
     10.3 EUROPE
             10.3.1 EUROPE: COVID-19 IMPACT
                       TABLE 59 EUROPE: MARKET SIZE, BY TECHNOLOGY,  2018–2025 (USD MILLION)
                       TABLE 60 EUROPE: MARKET SIZE, BY COMPONENT,  2018–2025 (USD MILLION)
                       TABLE 61 EUROPE: MARKET SIZE, BY SERVICE,  2018–2025 (USD MILLION)
                       TABLE 62 EUROPE: MARKET SIZE, BY APPLICATION,  2018–2025 (USD MILLION)
                       TABLE 63 EUROPE: MARKET SIZE, BY DEPLOYMENT TYPE,  2018–2025 (USD MILLION)
                       TABLE 64 EUROPE: IMAGE RECOGNITION IN RETAIL MARKET SIZE, BY COUNTRY,  2018–2025 (USD MILLION)
                       TABLE 65 EUROPE: CODE RECOGNITION MARKET SIZE, BY COUNTRY,  2018–2025 (USD MILLION)
                       TABLE 66 EUROPE: DIGITAL IMAGE PROCESSING MARKET SIZE, BY COUNTRY,  2018–2025 (USD MILLION)
                       TABLE 67 EUROPE: FACIAL RECOGNITION MARKET SIZE, BY COUNTRY,   2018–2025 (USD MILLION)
                       TABLE 68 EUROPE: OBJECT RECOGNITION MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 69 EUROPE: OTHER TECHNOLOGIES MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 70 EUROPE: SOFTWARE MARKET SIZE, BY COUNTRY,  2018–2025 (USD MILLION)
                       TABLE 71 EUROPE: SERVICES MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 72 EUROPE: PROFESSIONAL SERVICES MARKET SIZE, BY COUNTRY,  2018–2025 (USD MILLION)
                       TABLE 73 EUROPE: MANAGED SERVICES MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 74 EUROPE: VISUAL PRODUCT SEARCH MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 75 EUROPE: SECURITY SURVEILLANCE MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 76 EUROPE: VISION ANALYTICS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 77 EUROPE: MARKETING AND ADVERTISING MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 78 EUROPE: OTHER APPLICATIONS MARKET SIZE, BY COUNTRY,  2018–2025 (USD MILLION)
                       TABLE 79 EUROPE: ON-PREMISES MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 80 EUROPE: CLOUD MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
             10.3.2 UNITED KINGDOM
                       TABLE 81 UNITED KINGDOM: IMAGE RECOGNITION IN RETAIL MARKET SIZE, BY TECHNOLOGY,  2018–2025 (USD MILLION)
                       TABLE 82 UNITED KINGDOM: MARKET SIZE, BY COMPONENT,  2018–2025 (USD MILLION)
                       TABLE 83 UNITED KINGDOM: MARKET SIZE, BY SERVICE,  2018–2025 (USD MILLION)
                       TABLE 84 UNITED KINGDOM: MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
                       TABLE 85 UNITED KINGDOM: MARKET SIZE, BY DEPLOYMENT TYPE, 2018–2025 (USD MILLION)
             10.3.3 GERMANY
                       TABLE 86 GERMANY: MARKET SIZE, BY TECHNOLOGY,  2018–2025 (USD MILLION)
                       TABLE 87 GERMANY: MARKET SIZE, BY COMPONENT,  2018–2025 (USD MILLION)
                       TABLE 88 GERMANY: MARKET SIZE, BY SERVICE,  2018–2025 (USD MILLION)
                       TABLE 89 GERMANY: MARKET SIZE, BY APPLICATION,  2018–2025 (USD MILLION)
                       TABLE 90 GERMANY: IMAGE RECOGNITION IN RETAIL MARKET SIZE, BY DEPLOYMENT TYPE,  2018–2025 (USD MILLION)
             10.3.4 REST OF EUROPE
                       TABLE 91 REST OF EUROPE: MARKET SIZE,  BY TECHNOLOGY,  2018–2025 (USD MILLION)
                       TABLE 92 REST OF EUROPE: MARKET SIZE, BY COMPONENT,  2018–2025 (USD MILLION)
                       TABLE 93 REST OF EUROPE: MARKET SIZE, BY SERVICE,  2018–2025 (USD MILLION)
                       TABLE 94 REST OF EUROPE: MARKET SIZE, BY APPLICATION,  2018–2025 (USD MILLION)
                       TABLE 95 REST OF EUROPE: IMAGE RECOGNITION IN RETAIL MARKET SIZE, BY DEPLOYMENT TYPE, 2018–2025 (USD MILLION)
     10.4 ASIA PACIFIC
             10.4.1 ASIA PACIFIC: COVID-19 IMPACT
                       FIGURE 30 ASIA PACIFIC: MARKET SNAPSHOT
                       TABLE 96 ASIA PACIFIC: IMAGE RECOGNITION IN RETAIL MARKET SIZE,  BY TECHNOLOGY,  2018–2025 (USD MILLION)
                       TABLE 97 ASIA PACIFIC: MARKET SIZE, BY COMPONENT,  2018–2025 (USD MILLION)
                       TABLE 98 ASIA PACIFIC: MARKET SIZE, BY SERVICE,  2018–2025 (USD MILLION)
                       TABLE 99 ASIA PACIFIC: MARKET SIZE, BY APPLICATION,  2018–2025 (USD MILLION)
            TABLE 100 ASIA PACIFIC: MARKET SIZE, BY DEPLOYMENT TYPE,  2018–2025 (USD MILLION)
            TABLE 101 ASIA PACIFIC: MARKET SIZE, BY COUNTRY,  2018–2025 (USD MILLION)
             10.4.2 CHINA
             10.4.3 INDIA
             10.4.4 REST OF ASIA PACIFIC
     10.5 MIDDLE EAST AND AFRICA
             10.5.1 MIDDLE EAST AND AFRICA: COVID-19 IMPACT
                       TABLE 102 MIDDLE EAST AND AFRICA: IMAGE RECOGNITION IN RETAIL MARKET SIZE,  BY TECHNOLOGY, 2018–2025 (USD MILLION)
                       TABLE 103 MIDDLE EAST AND AFRICA: MARKET SIZE,  BY COMPONENT, 2018–2025 (USD MILLION)
                       TABLE 104 MIDDLE EAST AND AFRICA: MARKET SIZE,  BY SERVICE, 2018–2025 (USD MILLION)
                       TABLE 105 MIDDLE EAST AND AFRICA: MARKET SIZE,  BY APPLICATION, 2018–2025 (USD MILLION)
                       TABLE 106 MIDDLE EAST AND AFRICA: MARKET SIZE,  BY DEPLOYMENT TYPE, 2018–2025 (USD MILLION)
                       TABLE 107 MIDDLE EAST AND AFRICA: MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
             10.5.2 UNITED ARAB EMIRATES
             10.5.3 SAUDI ARABIA
             10.5.4 REST OF MIDDLE EAST AND AFRICA
     10.6 LATIN AMERICA
             10.6.1 LATIN AMERICA: COVID-19 IMPACT
                       TABLE 108 LATIN AMERICA: IMAGE RECOGNITION IN RETAIL MARKET SIZE, BY TECHNOLOGY,  2018–2025 (USD MILLION)
                       TABLE 109 LATIN AMERICA: MARKET SIZE, BY COMPONENT,  2018–2025 (USD MILLION)
                       TABLE 110 LATIN AMERICA: MARKET SIZE, BY SERVICE,  2018–2025 (USD MILLION)
                       TABLE 111 LATIN AMERICA: MARKET SIZE, BY APPLICATION,  2018–2025 (USD MILLION)
                       TABLE 112 LATIN AMERICA: MARKET SIZE, BY DEPLOYMENT TYPE, 2018–2025 (USD MILLION)
                       TABLE 113 LATIN AMERICA: MARKET SIZE, BY COUNTRY,  2018–2025 (USD MILLION)
             10.6.2 BRAZIL
             10.6.3 MEXICO
             10.6.4 REST OF LATIN AMERICA

11 COMPETITIVE LANDSCAPE (Page No. - 126)
     11.1 INTRODUCTION
               FIGURE 31 KEY DEVELOPMENTS IN THE IMAGE RECOGNITION IN RETAIL MARKET DURING 2017–2020
             11.1.1 NEW SOLUTION LAUNCHES/SOLUTION ENHANCEMENTS
                       TABLE 114 NEW SOLUTION LAUNCHES/ SOLUTION ENHANCEMENTS, 2017–2019
             11.1.2 PARTNERSHIPS AND COLLABORATIONS
                       TABLE 115 PARTNERSHIPS AND COLLABORATIONS, 2017–2019
             11.1.3 MERGERS AND ACQUISITIONS
                       TABLE 116 MERGERS AND ACQUISITIONS, 2017–2020
     11.2 COMPETITIVE LEADERSHIP MAPPING
             11.2.1 VISIONARY LEADERS
             11.2.2 INNOVATORS
             11.2.3 DYNAMIC DIFFERENTIATORS
             11.2.4 EMERGING COMPANIES
                       FIGURE 32 IMAGE RECOGNITION IN RETAIL (GLOBAL),  COMPETITIVE LEADERSHIP MAPPING, 2020

12 COMPANY PROFILES (Page No. - 131)
     12.1 INTRODUCTION
               FIGURE 33 GEOGRAPHIC REVENUE MIX OF THE MARKET PLAYERS
(Business overview, Solutions offered, Recent developments, and SWOT Analysis)*
     12.2 AWS
               FIGURE 34 AWS: COMPANY SNAPSHOT
               FIGURE 35 AWS: SWOT ANALYSIS
     12.3 IBM
               FIGURE 36 IBM: COMPANY SNAPSHOT
               FIGURE 37 IBM: SWOT ANALYSIS
     12.4 GOOGLE
               FIGURE 38 GOOGLE: COMPANY SNAPSHOT
               FIGURE 39 GOOGLE: SWOT ANALYSIS
     12.5 MICROSOFT
               FIGURE 40 MICROSOFT: COMPANY SNAPSHOT
               FIGURE 41 MICROSOFT: SWOT ANALYSIS
     12.6 TRAX
               FIGURE 42 TRAX: SWOT ANALYSIS
     12.7 NEC CORPORATION
               FIGURE 43 NEC CORPORATION: COMPANY SNAPSHOT
     12.8 QUALCOMM
               FIGURE 44 QUALCOMM: COMPANY SNAPSHOT
     12.9 CATCHOOM
     12.10 SLYCE
     12.11 LTU
     12.12 INTELLIGENCE RETAIL
     12.13 SNAP2INSIGHT
     12.14 IMAGGA
     12.15 PARALLELDOTS
     12.16 VISPERA
     12.17 BLIPPAR
     12.18 RICOH INNOVATIONS
     12.19 CLARIFAI
     12.20 DEEPOMATIC
     12.21 SHELFWISE
     12.22 TRIGO
     12.23 WIKITUDE
     12.24 HUAWEI
     12.25 HONEYWELL
     12.26 STANDARD COGNITION
     12.27 ZIPPIN
*Details on Business overview, Solutions offered, Recent developments, and SWOT Analysis might not be captured in case of unlisted companies.
     12.28 RIGHT TO WIN

13 APPENDIX (Page No. - 168)
     13.1 ADJACENT MARKETS
             13.1.1 INTRODUCTION
                       TABLE 117 ADJACENT MARKETS AND FORECASTS
             13.1.2 LIMITATIONS
             13.1.3 IMAGE RECOGNITION IN RETAIL ECOSYSTEM AND ADJACENT MARKETS
             13.1.4 IMAGE RECOGNITION IN RETAIL ADJACENT MARKET –  AI IN RETAIL MARKET
                       TABLE 118 ARTIFICIAL INTELLIGENCE IN RETAIL MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION)
                       TABLE 119 ARTIFICIAL INTELLIGENCE IN RETAIL MARKET SIZE, BY TECHNOLOGY,  2015–2022 (USD MILLION)
                       TABLE 120 ARTIFICIAL INTELLIGENCE IN RETAIL MARKET SIZE, BY SOLUTION, 2015–2022 (USD MILLION)
                       TABLE 121 ARTIFICIAL INTELLIGENCE IN RETAIL MARKET SIZE, BY SERVICE,  2015–2022 (USD MILLION)
                       TABLE 122 ARTIFICIAL INTELLIGENCE IN RETAIL MARKET SIZE, BY APPLICATION,  2015–2022 (USD MILLION)
                       TABLE 123 ARTIFICIAL INTELLIGENCE IN RETAIL MARKET SIZE, BY REGION,  2015–2022 (USD MILLION)
             13.1.5 IMAGE RECOGNITION IN RETAIL ADJACENT MARKET – IOT IN RETAIL MARKET
                       TABLE 124 IOT IN RETAIL MARKET SIZE, BY OFFERING, 2018–2025 (USD MILLION)
                       TABLE 125 IOT IN RETAIL MARKET SIZE, BY PLATFORM, 2018–2025 (USD MILLION)
                       TABLE 126 IOT IN RETAIL MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
                       TABLE 127 IOT IN RETAIL MARKET SIZE, BY PROFESSIONAL SERVICE, 2018–2025 (USD MILLION)
                       TABLE 128 IOT IN RETAIL MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
                       TABLE 129 IOT IN RETAIL MARKET SIZE, BY OPERATIONS MANAGEMENT, 2018–2025 (USD MILLION)
                       TABLE 130 IOT IN RETAIL MARKET SIZE, BY ASSET MANAGEMENT, 2018–2025 (USD MILLION)
                       TABLE 131 IOT IN RETAIL MARKET SIZE, BY CUSTOMER EXPERIENCE MANAGEMENT,  2018–2025 (USD MILLION)
                       TABLE 132 IOT IN RETAIL MARKET SIZE, BY ADVERTISING AND MARKETING, 2018–2025 (USD MILLION)
                       TABLE 133 IOT IN RETAIL MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
             13.1.6 IMAGE RECOGNITION IN RETAIL ADJACENT MARKET  – FACIAL RECOGNITION
                       TABLE 134 FACIAL RECOGNITION MARKET SIZE, BY COMPONENT, 2017–2024 (USD MILLION)
                       TABLE 135 FACIAL RECOGNITION MARKET SIZE, BY SOFTWARE TOOLS, 2017–2024 (USD MILLION)
                       TABLE 136 FACIAL RECOGNITION MARKET SIZE, BY SERVICE, 2017–2024 (USD MILLION)
                       TABLE 137 FACIAL RECOGNITION MARKET SIZE, BY APPLICATION AREA, 2017–2024 (USD MILLION)
                       TABLE 138 FACIAL RECOGNITION MARKET SIZE, BY VERTICAL,  2017–2024 (USD MILLION)
                       TABLE 139 FACIAL RECOGNITION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
     13.2 DISCUSSION GUIDE
     13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL
     13.4 AVAILABLE CUSTOMIZATIONS
     13.5 RELATED REPORTS
     13.6 AUTHOR DETAILS

The study involved four major activities in estimating the current market size for the image recognition in retail market. An exhaustive secondary research was done to collect information on the image recognition in retail industry. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain using primary research. Both top-down and bottom-up approaches were employed to estimate the total market size. After that, the market breakup and data triangulation procedures were used to estimate the market size of the segments and subsegments of the image recognition in retail market.

Secondary Research

In the secondary research process, various secondary sources, such as D&B Hoovers, Bloomberg Businessweek, and Factiva, have been referred to identify and collect information for this study. These secondary sources included annual reports, press releases and investor presentations of companies, whitepapers, and articles by recognized authors, gold standard and silver standard websites, regulatory bodies, and databases.

Primary Research

In the primary research process, various sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information for making this report. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various key companies and organizations operating in the image recognition in retail market.

After the complete market engineering (including calculations for market statistics, market breakup, market size estimations, market forecasting, and data triangulation), an extensive primary research was conducted to gather information, and verify and validate the critical numbers arrived at. Primary research was also undertaken to identify the segmentation types; the competitive landscape of image recognition in retail solution and service providers; and fundamental market dynamics, such as drivers, restraints, opportunities, challenges, industry trends, and key players’ strategies.

Following is the breakup of the primary respondents:

Image Recognition in Retail Market Size, and Share

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

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the image recognition in retail market. These methods were also used extensively to determine the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

The key players in the industry and markets were identified through extensive secondary research.

  • The aggregate of all companies’ revenues were extrapolated to estimate the overall market size.
  • All percentage shares and breakups were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. The data triangulation and market breakup procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To define, describe, and forecast the image recognition in retail market by technology, component, application, deployment type, and region
  • To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the image recognition in retail market
  • To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market
  • To analyze opportunities in the market for stakeholders by identifying high-growth segments of the image recognition in retail market
  • To forecast the size of the market segments with respect to five main regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
  • To profile key players of the image recognition in retail market and comprehensively analyze their market share and core competencies
  • To track and analyze competitive developments, such as new product launches and enhancements; acquisitions; and partnerships and collaborations, in the image recognition in retail market

Available customizations

Along with the market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Geographic analysis

  • Further breakup of the APAC image recognition in retail market into countries
  • Further breakup of the MEA image recognition in retail market into countries
  • Further breakup of the Latin American image recognition in retail market into countries

Company information

  • Detailed analysis and profiling of additional market players
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Report Code
TC 7704
Published ON
Jul, 2020
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