Image Recognition Market

Image Recognition Market by Technology (Digital Image Processing), Component (Hardware, Software, Service), Application (Augmented Reality), Deployment Type (On-Premises, Cloud), Industry Vertical, and Region - Global Forecast to 2021

Report Code: TC 2308 Feb, 2017, by marketsandmarkets.com

[147 Pages Report] The image recognition market is estimated to grow from USD 16.0 billion in 2016 to USD 38.9 billion by 2021, at the CAGR of 19.5% during the forecast period. The growth of the image recognition market can be attributed to the rising use of high bandwidth data services in retail and BFSI sector. Smartphones and devices with cameras are attracting vendors to invest in the market. Increasing demand for security applications and products enabled with image recognition functions is also influencing the growth of this market. Various companies in different sectors, such as retail, automotive, healthcare, and defense, are significantly adopting image recognition technology. Low-resolution image size and storage act as a challenge for the growth of the image recognition market. The major factors driving the growth of the Image recognition industry include increasing use of image recognition applications, increasing demand for security applications and products enabled with image recognition functions and   technology acceptance by various companies in different verticals.

Image Recognition Market

Based on component, the service segment of the Image recognition market is projected to grow at the highest CAGR during the forecast period.

Based on component, the service segment of the market is projected to grow at the highest CAGR from 2018 to 2023. The services segment is categorized into professional services; managed services; and training, support, and maintenance services. These services assist an organization to adapt to new image recognition software. The growing demand for rich media is driving companies such as NEC, LTU Technologies, and Catchoom to offering integrated training services, professional services, and support and maintenance services.

Based on deployment type, the on-premises segment is projected to lead the global image recognition market during the forecast period.

On-premises deployment is a traditional approach to implement software solutions. Organizations with in-house communications servers use this type of deployment. On-premises solutions are usually deployed for intricate systems where relatively bigger database and image scan volume is required. The complete set-up, including software installation, hardware equipment, and the platform for serving the on-premises solutions, is managed within the defined facility/area. On-premises solutions are relatively complex and require huge direct investments. In addition, this deployment type requires a competent IT department along with enough capital to expand the IT infrastructure.

Image Recognition Market

The North American region is expected to lead the Image recognition market in 2016.

North America has always been an open market in terms of adopting new and advanced technologies, such as mobile application security solutions across all industries. There has been a progressive adoption of technologies over cloud and mobile for streamlining work processes. There are more than 10 billion smartphones and other digital gadgets in North America which are integrated with image recognition applications. Due to their high demand, several companies such as Google have launched various image recognition applications. Apps are also available for Windows, Android, and iOS-based smartphones. Online marketplaces such as Amazon and eBay have introduced apps that use image recognition to identify clothes, cars, and books, among other products, to help customers in finding a similar set of items from their online databases.

Dynamics in Image Recognition Market

Driver ­- Increasing use of image recognition applications

Smartphones and devices with cameras are attracting vendors to invest in the image recognition market. New mobile applications are allowing online shoppers to search for the desired product by simply taking a picture. The image is then uploaded to an app which suggests items that are same or have similar attributes and even substitutes. Image recognition has the potential to transform a picture into a hyperlink, information, coupon, and video. Such recognition technologies help consumers instantly gather information about products by taking a picture on their mobile device. The advent of new applications such as gaming, price comparison, video search, e-commerce, interactive television, Augmented Reality (AR), image recognition, shelf recognition, and several others help merchandisers and Fast-Moving Consumer Goods (FMCG) companies to instantly gather information about 40-50 products on the shelves at one go just by taking a picture using image recognition technology.

Restraint –High cost of installation of image recognition systems

The cost incurred in making image recognition systems is very high, and the ROI is low on tangible assets. This factor acts as a major barrier to the growth of the image recognition market, as most technologies such as Business Intelligence (BI), knowledge management, Customer Relationship Management (CRM), content recognition, and Enterprise Resource Planning (ERP) have a huge cost of development. Thus, companies that lack resources do not opt for the technology due to the expenses associated with it, even if they are interested in image recognition to increase their productivity.

Opportunity – Increasing demand for big data analytics

Social media users around the globe upload nearly two billion images per day to social networking platforms such as Facebook, Instagram, Flickr, WhatsApp, and Snapchat. Today, images and image sequences (videos) make up around 80% of all corporate and public unstructured big data, and image analytics is seen as a potential solution to social, political, economic, and industrial issues. Image analytics is the automatic algorithmic extraction and logical analysis of information found in image data using digital image processing techniques such as image recognition and pattern recognition. The use of barcodes and QR codes are simple examples, but complexity lies in the processing of images such as facial recognition and position and movement analysis.

Big data includes data sets with sizes beyond the ability of commonly used software tools to capture, manage, and process within a specific time. Big data has increased the demand for information management specialists in companies such as Software AG, Oracle Corporation, IBM, Microsoft, SAP, EMC Corporation, and Dell. These companies have spent more than USD 15 billion on enhancing data management and analytics software. Big data requires exceptional technologies to efficiently process large quantities of data within a specific time.

Challenge – Low resolution image size and storage

When an image detection technology detects a face, figure, or an object in an image or a still photo from a video capture, the relative size of that face compared to the enrolled image size affects how well the face will be recognized. A high-definition video has a low resolution compared to digital camera images, and thus occupies a significant amount of disk space. Heavy data transfer requires more computers over a network, which further limits the processing speed.

Image Recognition Market: Research Design

Image Recognition Market

Source: MarketsandMarkets Analysis

Scope of the Report

Report Metrics

Details

Market size available for years

2014–2021

Base year considered

2015

Forecast period

2016–2021

Forecast units

Billion (USD)

Segments covered

Technology, Component Application, Deployment Type, Industry Vertical and Region

Geographies covered

North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa

Companies covered

20 key market players including Qualcomm Technologies, Inc. (US), NEC Corporation (Japan), Google (US), LTU Technologies (France), Catchoom Technologies S.L. (Spain), Honeywell International Inc (US), Hitachi, Ltd. (Japan), Slyce (Canada), Wikitude GmbH (Austria), Attrasoft, Inc (US), AWS (US), Microsoft (US), IBM (US), Blippar (UK), Planorama (France), Ricoh Innovations Corporation (US), Pattern Recognition Company GMBH (Germany) , Trax Retail (Singapore), Intelligent Retail (Russia), and Snap2Insight Inc (US)

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

Image Recognition Market by Technology

  • Code Recognition
  • Digital Image Processing
  • Facial Recognition
  • Object Recognition
  • Pattern Recognition
  • Optical Character Recognition

Image recognition Market by Component

  • Hardware
  • Software
  • Services

Image recognition Market by Application

  • Scanning & Imaging
  • Security & Surveillance
  • Image Search
  • Augmented Reality
  • Marketing & Advertising

Image recognition Market by Deployment Type

  • On-Premises
  • Cloud

Image recognition Market by Industry

  • Banking, Financial Services, and Insurance (BFSI)
  • Media & Entertainment
  • Retail & Consumer Goods
  • IT & Telecom
  • Government
  • Healthcare
  • Transportation & Logistics
  • Others (Gaming and Education)

Image recognition Market by Region

  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • Rest of Europe
  • Asia-Pacific
    • India
    • China
    • Rest of Asia Pacific
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America

Key Market Players

Key image recognition market players profiled in this report include Qualcomm Technologies, Inc. (US), NEC Corporation (Japan), Google (US), LTU Technologies (France), Catchoom Technologies S.L. (Spain), Honeywell International Inc (US), Hitachi, Ltd. (Japan), Slyce (Canada), Wikitude GmbH (Austria), Attrasoft, Inc (US), AWS (US), Microsoft (US), IBM (US), Blippar (UK), Planorama (France), Ricoh Innovations Corporation (US), Pattern Recognition Company GMBH (Germany) , Trax Retail (Singapore), Intelligent Retail (Russia), and Snap2Insight Inc (US). These players have adopted various growth strategies such as mergers and acquisitions, new product/service launches/product enhancements, business expansions, partnerships, agreements, and collaborations to expand their presence in the Image recognition market. Partnerships and new product/service launches/product enhancements have been the most adopted strategies by major players from 2013 to 2017 to innovate their offerings and broaden their customer base.

Qualcomm Inc. is one of the leading players in the image recognition market.  The company collaborated with key players, such as Interactive Entertainment Group (IEG) of Tencent to launch joint innovation center in China. In addition, the company offers various products, such as R-8 & R-9, the augmented reality smart glasses powered by Qualcomm Snapdragon 835 Processor. The company’s Pixtronix display provides a perfect level of brightness and visibility to smartphones, digital cameras, and tablets with vivid display by replacing liquid crystal with the highly efficient MEMS shutters. Qualcomm serves its customers in China, Taiwan, South Korea, the U.S., and other foreign nations worldwide. In October 2016, Qualcomm launched introduced Qualcomm Snapdragon connected camera portfolio to expand its portfolio of technologies by supporting a new generation of video and imaging devices.

NEC Corporation is one of the leading manufacturers and service providers of IT and network products. It also offers solutions in imaging and biometric to various verticals, such as airport and air traffic control, healthcare, retail, logistics, government, and education. The company offers various products such as NEC GAZIRU, which provides image recognition that can identify images acquired by snapping a recognition target with a smartphone. NEC assists enterprises with its solutions and services across the globe. In October 2016, NEC Corporation launched NeoFace Image data mining (NeoFace Idm) that utilizes Artificial Intelligence (AI) to quickly and accurately search video footage, such as content from CCTV cameras, for specific individuals. NeoFace Idm provides high-speed, high-precision searches for persons who appear in specific patterns, which could not be achieved through manual searches or conventional technology.

Recent Developments

  • In January 2017, Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated and Osterhout Design Group (ODG), (San Francisco) together launched R-8 & R-9, the augmented reality smart glasses powered by Qualcomm Snapdragon 835 Processor. This allows Qualcomm to enhance the customer experience by offering innovative products.
  • In October 2016, NEC Corporation launched NeoFace Image data mining (NeoFace Idm) that utilizes Artificial Intelligence (AI) to quickly and accurately search video footage, such as content from CCTV cameras, for specific individuals. NeoFace Idm provides high-speed, high-precision searches for persons who appear in specific patterns, which could not be achieved through manual searches or conventional technology.
  • In July 2016, Google acquired Moodstocks, a Paris-based startup that specializes in smartphone image recognition. This acquisition builds great image recognition tools within Google’s array of machine learning based services, software, and applications to improve user experiences.
  • In November 2016, Qualcomm Wireless Communication Technologies Limited (China), a subsidiary of Qualcomm Incorporated, collaborated with Interactive Entertainment Group (IEG) of Tencent to launch joint innovation center in China. This collaboration helps Qualcomm to innovate & accelerate the mobile AR and VR gaming and entertainment experiences of customers.
  • In December 2015,NEC Corporation acquired Michigan State University’s (MSU) face search system software to address the ever-increasing security threats and enhance public and national security.

Available Customizations

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

Geographic Analysis

  • Further breakdown of the US image recognition market, by component
  • Further breakdown of the UK image recognition market, by component

Company Information

  • Detailed analysis and profiling of additional market players up to 5

Key questions answered by the report:

  • What are the growth opportunities in the Image recognition market?
  • What is the competitive landscape scenario of the market?
  • What are the regulations that are expected to have an impact on the image recognition market?
  • What are the dynamics of the market?
  • What the challenges of the image recognition market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered in the Report
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology
    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

4 Premium Insights
    4.1 Attractive Opportunities in the Image Recognition Market
    4.2 Image Recognition Market: By Top Industries and Regions
    4.3 Image Recognition Market Potential
    4.4 Image Recognition Deployment Type Market, By Region (2016)
    4.5 Image Recognition Market, By Component
    4.6 Lifecycle Analysis, By Region (2016)

5 Market Overview
    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 use of Image Recognition Applications
                    5.3.1.2 Increasing Demand for Security Applications and Products Enabled With Image Recognition Functions
                    5.3.1.3 Technology Acceptance By Various Companies in Different Verticals
                    5.3.1.4 Increasing use of High Bandwidth Data Services
           5.3.2 Restraints
                    5.3.2.1 High Cost of Installation of Image Recognition Systems
           5.3.3 Opportunities
                    5.3.3.1 Increasing Demand for Big Data Analytics
                    5.3.3.2 Increasing Demand of Brand Recognition Among End-User
           5.3.4 Challenges
                    5.3.4.1 Low Resolution Image Size and Storage

6 Industry Trends
    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
           6.2.4 Combination of Gps and Image Recognition
           6.2.5 Communication Through Image Recognition Technologies
    6.3 Strategic Benchmarking

7 Adjacent Market Overview
    7.1 Facial Recognition Market
           7.1.1 Market Estimates and Forecasts, 2017 - 2024 (USD Million)
    7.2 Automatic Content Recognition Market
           7.2.1 Market Estimates and Forecasts, 2016 - 2021 (USD Million)
    7.3 Emotion Detection and Recognition Market
           7.3.1 Market Estimates and Forecasts, 2014 - 2021 (USD Million)
    7.4 Natural Language Processing Market
           7.4.1 Market Estimates and Forecasts, 2014 - 2021 (USD Million)
    7.5 Neuromorphic Computing Market
           7.5.1 Market Estimates and Forecasts, 2016 - 2022 (USD Million)

8 Image Recognition Market Analysis, By Technology
    8.1 Introduction
    8.2 Code Recognition
    8.3 Digital Image Processing
    8.4 Facial Recognition
    8.5 Object Recognition
    8.6 Pattern Recognition
    8.8 Optical Character Recognition

9 Image Recognition Market Analysis, By Component
    9.1 Introduction
    9.2 Hardware
    9.3 Software
    9.4 Services
           9.4.1 Managed Services
           9.4.2 Professional Services
           9.4.3 Training, Support, and Maintenance Services

10 Image Recognition Market Analysis, By Application
     10.1 Introduction
     10.2 Scanning & Imaging
     10.3 Security & Surveillance
     10.4 Image Search
     10.5 Augmented Reality
     10.6 Marketing & Advertising

11 Image Recognition Market Analysis, By Deployment Type
     11.1 Introduction
     11.2 On-Premises
     11.3 Cloud

12 Image Recognition Market Analysis, By Industry
     12.1 Introduction
     12.2 Banking, Financial Services and Insurance
     12.3 Media & Entertainment
     12.4 Retail & Consumer Goods
     12.5 IT & Telecom
     12.6 Government
     12.7 Healthcare
     12.8 Transportation & Logistics
     12.9 Others (Education and Gaming)

13 Geographic Analysis
     13.1 Introduction
     13.2 North America
             13.2.1 US
             13.2.2 Canada
     13.3 Europe
             13.2.1 UK
             13.2.2 Germany
             13.2.3 Rest of Europe
     13.4 Asia-Pacific
             13.2.1 China
             13.2.2 India
             13.2.3 Rest of Asia Pacific
     13.5 Middle East & Africa
             13.2.1 UAE
             13.2.2 Saudi Arabia
             13.2.3 Rest of Middle East & Africa
     13.6 Latin America
             13.2.1 Mexico
             13.2.2 Brazil
             13.2.3 Rest of Latin America

14 Competitive Landscape
     14.1 Overview
     14.2 Competitive Situation and Trends
             14.2.1 New Product Launches
             14.2.2 Agreements, Collaborations & Partnerships
             14.2.3 Acquisitions
             14.2.4 Expansions

15 Company Profiles
     15.1 Introduction
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
     15.2 Qualcomm Incorporated.
               15.2.1. Business Overview
                       15.2.2. Company Snapshot
                       15.2.3. Financial Overview (Operating Income & R&D; Expenditure, Business & Geographical Revenue Mix)
                       15.2.4. Products Offered
                       15.2.5. Recent Development
                                   15.2.5.1. New Product Launched/Product Updates
                                   15.2.5.2. Merger & Acquisition/Joint Venture/ Partnership
                       15.2.6. SWOT Analysis
                       15.2.7. MnM View
     15.3 NEC Corporation
                       15.3.1. Business Overview
                       15.3.2. Company Snapshot
                       15.3.3. Financial Overview (Operating Income & R&D; Expenditure, Business & Geographical Revenue Mix)
                       15.3.4. Products Offered
                       15.3.5. Recent Development
                                   15.3.5.1. New Product Launched/Product Updates 
                                   15.3.5.2. Merger & Acquisition/Joint Venture/ Partnership
                       15.3.6. SWOT Analysis
                       15.3.7. MnM View
     15.4 Google Inc.
                       15.4.1. Business Overview
               15.4.2. Company Snapshot
               15.4.3. Financial Overview (Operating Income & R&D; Expenditure, Business & Geographical Revenue Mix)
               15.4.4. Products Offered
               15.4.5. Recent Development
                     15.4.5.1. New Product Launched/Product Updates
            15.4.5.2. Merger & Acquisition/Joint Venture/ Partnership
                       15.4.6. SWOT Analysis
                       15.4.7. MnM View
     15.5 LTU Technologies
               15.5.1. Business Overview
                       15.5.2. Company Snapshot
                       15.5.3. Financial Overview (Operating Income & R&D; Expenditure, Business & Geographical Revenue Mix)
                       15.5.4. Products Offered
                       15.5.5. Recent Development
                     15.5.5.1. New Product Launched/Product Updates
                                   15.5.5.2.  Merger & Acquisition/Joint Venture/ Partnership
                       15.5.6. SWOT Analysis
                       15.5.7. MnM View
     15.6 Catchoom Technologies S.L.
                       15.6.1. Business Overview
                       15.6.2. Company Snapshot
                       15.6.3. Financial Overview (Operating Income & R&D; Expenditure, Business & Geographical Revenue Mix)
                       15.6.4. Products Offered
                       15.6.5. Recent Development
                                   15.6.5.1.  New Product Launched/Product Updates 
                                   15.6.5.2.  Merger & Acquisition/Joint Venture/ Partnership
                       15.6.6. SWOT Analysis
                       15.6.7. MnM View
     15.7 Honeywell International Inc.
     15.8 Hitachi, Ltd.
     15.9 Slyce Inc.
     15.10 Wikitude GmbH
     15.11 Attrasoft, Inc.
     15.12 Aws
     15.13 Microsoft
     15.14 IBM
     15.15 Blippar
     15.16 Ricoh Innovations Corporation
     15.17 Trax Retail
     15.18 Planorama
     15.19 Pattern Recognition Company GmbH
     15.20 Intelligence Retail
     15.21 Snap2insight Inc

*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not be Captured in Case of Unlisted Companies.

16 Appendix
     16.1 Industry Excerpts
     16.2 Other Developments
     16.3 Discussion Guide
     16.4 Knowledge Store: Marketsandmarkets’ Subscription Portal
     16.5 Introducing Rt: Real-Time Market Intelligence
     16.6 Available Customizations
     16.7 Related Reports
     16.8 Author Details


List of Tables (114 Tables)

Table 1 Global Image Recognition Market Size and Growth Rate, 2014–2021 (USD Billion, Y-O-Y %)
Table 2 Adjacent Market  - Global Facial Recognition Market Size, 2017-2024 (USD Million)
Table 3 Adjacent Market  - Facial Recognition Market: North America, By Country
Table 4 Adjacent Market  - Facial Recognition Market: Europe, By Country
Table 5 Adjacent Market  - Facial Recognition Market: Asia Pacific, By Country
Table 6 Adjacent Market  - Facial Recognition Market: Middle East and Africa, By Country
Table 7 Adjacent Market  - Facial Recognition Market: Latin America, By Country
Table 8 Adjacent Market  - Automatic Content Recognition Market Size, By Type, 2016–2021 (USD Billion)
Table 9 Adjacent Market  - Automatic Content Recognition Market Size, By Type, 2014-2021 (USD Million)
Table 10 Adjacent Market  - Automatic Content Recognition Market Size, By Solution, 2014-2021 (USD Million)
Table 11 Adjacent Market  - Automatic Content Recognition Market Size, By Service, 2014-2021 (USD Million)
Table 12 Adjacent Market  - Automatic Content Recognition Market Size, By Technology, 2014–2021 (USD Million)
Table 13 Adjacent Market  - Automatic Content Recognition Market Size, By Vertical, 2014-2021 (USD Million)
Table 14 Adjacent Market  - Automatic Content Recognition Market Size, By Region, 2014–2021 (USD Billion)
Table 15 Adjacent Market  - North America: Automatic Content Recognition Market Size, By Type, 2014–2021 (USD Million)
Table 16 Adjacent Market  - Europe: Automatic Content Recognition Market Size, By Type, 2014–2021 (USD Million)
Table 17 Adjacent Market  - Asia-Pacific: Automatic Content Recognition Market Size, By Type, 2014–2021 (USD Million)
Table 18 Adjacent Market  - Middle East and Africa: Automatic Content Recognition Market Size, By Type, 2014–2021 (USD Million)
Table 19 Adjacent Market  - Latin America: Automatic Content Recognition Market Size, By Type, 2014–2021 (USD Million)
Table 20 Adjacent Market  - Global Emotion Detection and Recognition Market Size, By Component, 2014–2021 (USD Million)
Table 21 Adjacent Market  - Emotion Detection and Recognition Market Size, By Technology, 2014–2021 (USD Million)
Table 22 Adjacent Market  - Emotion Detection and Recognition Market Size, By Software Tool, 2014–2021 (USD Million)
Table 23 Adjacent Market  - Emotion Detection and Recognition Market Size, By Application Area, 2014–2021 (USD Million)
Table 24 Adjacent Market  - Emotion Detection and Recognition Market Size, By End User, 2014–2021 (USD Million)
Table 25 Adjacent Market  - Emotion Detection and Recognition Market Size, By Region, 2014–2021 (USD Million)
Table 26 Adjacent Market  - North America: Emotion Detection and Recognition Market Size, By Technology, 2014–2021 (USD Million)
Table 27 Adjacent Market  - Europe: Emotion Detection and Recognition Market Size, By Technology, 2014–2021 (USD Million)
Table 28 Adjacent Market  - Asia-Pacific: Emotion Detection and Recognition Market Size, By Technology, 2014–2021 (USD Million)
Table 29 Adjacent Market  - Middle East: Emotion Detection and Recognition Market Size, By Technology, 2014–2021 (USD Million)
Table 30 Adjacent Market  - Rest of the World: Emotion Detection and Recognition Market Size, By Technology, 2014–2021 (USD Million)
Table 31 Adjacent Market  - Natural Language Processing Market Size and Growth Rate, 2016–2021 (USD Million, Yoy %)
Table 32 Adjacent Market  - Natural Language Processing Market Size, By Type, 2014-2021
Table 33 Adjacent Market  - Natural Language Processing Market Size, By Technology, 2014–2021 (USD Million)
Table 34 Adjacent Market  - Natural Language Processing Market Size By Service, 2014-2021 (USD Million)
Table 35 Adjacent Market  - Natural Language Processing Market Size, By Vertical, 2014–2021 (USD Million)
Table 36 Adjacent Market  - Natural Language Processing 'Market Size, By Deployment Model, 2014-2021 (USD Million)
Table 37 Adjacent Market  - Natural Language Processing Market Size, By Application Type, 2014–2021 (USD Million)
Table 38 Adjacent Market  - Natural Language Processing Market Size, By Industry Application, 2014–2021 (USD Million)
Table 39 Adjacent Market  - Natural Language Processing Market Size, By Region, 2014–2021 (USD Million)
Table 40 Adjacent Market  - North America: Natural Language Processing Market Size, By Type, 2014-2021, (USD Million)
Table 41 Adjacent Market  - Europe: Natural Language Processing Market Size, By Type, 2016-2021 (USD Million)
Table 42 Adjacent Market  - Asia-Pacific: Natural Language Processing Market Size, By Type, 2016-2021 (USD Million)
Table 43 Adjacent Market  - Middle East and Africa: Natural Language Processing Market Size, By Type, 2016-2021 (USD Million)
Table 44 Adjacent Market  - Latin America: Natural Language Processing Market Size By Type, 2016-2021 (USD Million)
Table 45 Adjacent Market  - Neuromorphic Computing Market, By Offering, 2016–2022 (USD Thousand)
Table 46 Adjacent Market  - Neuromorphic Computing Hardware Market, By Application, 2016–2022 (USD Thousand)
Table 47 Adjacent Market  - Neuromorphic Computing Hardware Market, By Region, 2016–2022 (USD Thousand)
Table 48 Adjacent Market  - Neuromorphic Computing Software Market, By Application, 2016–2022 (USD Thousand)
Table 49 Adjacent Market  - Neuromorphic Computing Software Market, By Region, 2016–2022 (USD Thousand)
Table 50 Image Recognition Market, By Technology, 2014–2021 (USD Million)
Table 51 Code Recognition: Market Size, By Region, 2014–2021 (USD Million)
Table 52 Digital Image Processing: Market Size, By Region, 2014–2021 (USD Million)
Table 53 Facial Recognition: Market Size, By Region, 2014–2021 (USD Million)
Table 54 Object Recognition: Market Size, By Region, 2014–2021 (USD Million)
Table 55 Pattern Recognition: Market Size, By Region, 2014–2021 (USD Million)
Table 56 Optical Character Recognition: Market Size, By Region, 2014–2021 (USD Million)
Table 57 Market Size, By Component, 2014–2021 (USD Million)
Table 58 Hardware: Market Size, By Region, 2014–2021 (USD Million)
Table 59 Software: Market Size, By Region, 2014–2021 (USD Million)
Table 60 Services: Market Size, By Region, 2014–2021 (USD Million)
Table 61 Managed Services: Market Size, By Region, 2014–2021 (USD Million)
Table 62 Professional Services: Market Size, By Region, 2014–2021 (USD Million)
Table 63 Training, Support, and Maintenance Service: Market Size, By Region, 2014–2021 (USD Million)
Table 64 Image Recognition Market Size, By Application, 2014–2021 (USD Million)
Table 65 Scanning & Imaging: Market Size, By Region, 2014–2021 (USD Million)
Table 66 Security & Surveillance: Market Size, By Region, 2014–2021 (USD Million)
Table 67 Image Search: Market Size, By Region, 2014–2021 (USD Million)
Table 68 Augmented Reality: Market Size, By Region, 2014–2021 (USD Million)
Table 69 Marketing & Advertising: Market Size, By Region, 2014–2021 (USD Million)
Table 70 Market, By Deployment Type, 2014–2021 (USD Million)
Table 71 On-Premises: Market Size, By Region, 2014–2021 (USD Million)
Table 72 Cloud: Market Size, By Region, 2014–2021 (USD Million)
Table 73 Image Recognition Market Size, By Industry, 2014–2021 (USD Million)
Table 74 BFSI: Market Size, By Region, 2014–2021 (USD Million)
Table 75 Media & Entertainment: Market Size, By Region, 2014–2021 (USD Million)
Table 76 Retail & Consumer Goods: Market Size, By Region, 2014–2021 (USD Million)
Table 77 IT & Telecom: Market Size, By Region, 2014–2021 (USD Million)
Table 78 Government: Market Size, By Region, 2014–2021 (USD Million)
Table 79 Healthcare: Market Size, By Region, 2014–2021 (USD Million)
Table 80 Transportation & Logistics Market: Market Size, By Region, 2014–2021 (USD Million)
Table 81 Others: Market Size, By Region, 2014–2021 (USD Million)
Table 82 Market Size, By Region, 2014–2021 (USD Million)
Table 83 North America: Market Size, By Technology, 2014–2021 (USD Million)
Table 84 North America: Market Size, By Component, 2014–2021 (USD Million)
Table 85 North America: Market Size, By Application, 2014–2021 (USD Million)
Table 86 North America: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 87 North America: Market Size, By Industry, 2014–2021 (USD Million)
Table 88 Europe: Market Size, By Technology, 2014–2021 (USD Million)
Table 89 Europe: Market Size, By Component, 2014–2021 (USD Million)
Table 90 Europe: Market Size, By Application, 2014–2021 (USD Million)
Table 91 Europe: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 92 Europe: Market Size, By Industry, 2014–2021 (USD Million)
Table 93 Asia-Pacific: Image Recognition Market Size, By Technology, 2014–2021 (USD Million)
Table 94 Asia-Pacific: Market Size, By Component, 2014–2021 (USD Million)
Table 95 Asia-Pacific: Market Size, By Application, 2014–2021 (USD Million)
Table 96 Asia-Pacific: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 97 Asia-Pacific: Market Size, By Industry, 2014–2021 (USD Million)
Table 98 Middle East & Africa: Market Size, By Technology, 2014–2021 (USD Million)
Table 99 Middle East & Africa: Market Size, By Component, 2014–2021 (USD Million)
Table 100 Middle East & Africa: Market Size, By Application, 2014–2021 (USD Million)
Table 101 Middle East & Africa: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 102 Middle East & Africa: Market Size, By Industry, 2014–2021 (USD Million)
Table 103 Latin America: Image Recognition Market Size, By Technology, 2014–2021 (USD Million)
Table 104 Latin America: Market Size, By Component, 2014–2021 (USD Million)
Table 105 Latin America: Market Size, By Application, 2014–2021 (USD Million)
Table 106 Latin America: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 107 Latin America: Market Size, By Industry, 2014–2021 (USD Million)
Table 108 Market Evaluation Framework
Table 109 New Product Launches, 2015-2017
Table 110 Partnerships, 2014-2016
Table 111 Acquisitions, 2014-2016
Table 112 Expansions, 2017
Table 113 Other Developments: New Product Launches, 2013–2017
Table 114 Other Developments: Partnerships, Agreements, and Collaborations, 2013–2017
 
 
List of Figures (69 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 Image Recognition Market Size Byapplication Snapshot (2016–2021): Market for Security & Surveillance Application Segment is Expected  to Grow at the Highest CAGR During the Forecast Period
Figure 7 Image Recognition Market Size By Industry Vertical Snapshot (2016–2021): Media & Entertainment, Retail & Consumer Goods Industries Expected to Dominate the Market
Figure 8 Global Image Recognition Market Share: North America is Estimated to Hold the Largest Market Share in 2016
Figure 9 Increasing use of Image Recognition Applications are Driving the Market Growth
Figure 10 Retail and Consumer Goods Industry Segment is Expected to Hold the Largest Market Size in 2016
Figure 11 Asia-Pacific is Expected to Witness the Highest Market Growth During the Forecast Period
Figure 12 Cloud Deployment Type is Expected to Dominate the Image Recognition Market in North America and Europe During the Forecast Period
Figure 13 Services Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 14 North America, Europe, and Asia-Pacific Expected to be in the Growth Phase in 2016
Figure 15 Image Recognition Market Segmentation: By Technology
Figure 16 Image Recognition Market Segmentation: By Component
Figure 17 Image Recognition Market Segmentation: By Application
Figure 18 Image Recognition Market Segmentation: By Deployment Type
Figure 19 Image Recognition Market Segmentation: By Industry
Figure 20 Image Recognition Market Segmentation: By Region
Figure 21 Image Recognition Market: Drivers, Restraints, Opportunities, and Challenges
Figure 22 Value Chain Analysis: Image Recognition Market
Figure 23 Strategic Benchmarking: New Product Launches, 2014–2016
Figure 24 Digital Image Processing Technology is Growing at the Highest CAGR During the Forecast Period
Figure 25 The Code Recognition Technology Segment is Estimated to Grow at the Highest CAGR in Asia-Pacific During the Forecast Period
Figure 26 North America is Projected to Hold the Largest Share of the Digital Image Processing Technology Market During the Forecast Period
Figure 27 North America is Estimatedt to Hold the Largest Share of the Facial Recognition Technology Segment By 2021
Figure 28 Asia-Pacific is the Fastest-Growing Regional Market for Object Recognition Technology Segment During the Period 2016 - 2021
Figure 29 Pattern Recognition Technology is Expected to Grow at the Highest CAGR in Asia-Pacific Region During the Forecast Period
Figure 30 Optical Character Recognition Technology is Expected to Grow at the Highest CAGR in the Asia-Pacific Region During the Forecast Period
Figure 31 Services Segment of Image Recognition Market is Expected to Grow at the Highest CAGR From 2016 to 2021
Figure 32 North America Accounts the Highest Market Share in Hardware Segment of Image Recognition Market in 2016
Figure 33 Software Segment is Expected to Grow at the Highest CAGR in Asia-Pacific Region During the Forecast Period
Figure 34 Image Recognition Services Market is Expected to Grow at the Highest CAGR in Asia-Pacific Region From 2016 to 2021
Figure 35 Security & Surveillance Application Segment is Projected to Grow at the Highest CAGR During the Forecast Period
Figure 36 North America Accounts the Highest Market Share of Scanning & Imaging Application Segment in 2016
Figure 37 Security & Surveillance Application Segment is Projected to Grow at the Highest CAGR in Asia-Pacific Region During the Forecast Period
Figure 38 Image Search Application Segment is Expected to Grow at the Highest CAGR in Asia-Pacific During the Forecast Period
Figure 39 Augmented Reality Application Segment is Estimated the Highest Market Share in North America in 2016
Figure 40 Marketing & Advertising Segment is Expected to Grow at the Highest CAGR in Asia-Pacific Region During the Forecast Period
Figure 41 On-Premises Deployment Type is Estimated to Contribute the Largest Share to the Image Recognition Market in 2016
Figure 42 On-Premises Deployment Type is Expected to Grow at the Highest CAGR in Asia-Pacific Region During Forecast Period
Figure 43 North America is Expected to Dominate the Cloud Deployment Type Segment During the Forecast Period
Figure 44 Media & Entertainment Industry Segment is Projected to Grow at the Highest CAGR From 2016 to 2021
Figure 45 BFSI Industry Segment is Projected to Have the Largest Market Size in North America By 2021
Figure 46 Media & Entertainment Industry Segment is Projected to Grow at the Highest CAGR in Asia-Pacific During the Forecast Period
Figure 47 Retail & Consumer Goods Industry Segment is Projected to Grow at the Highest CAGR in Asia-Pacific Region During the Forecast Period
Figure 48 IT & Telecom Industry Segment is Projected to Grow at the Highest CAGR in Asia-Pacific During the Forecast Period
Figure 49 Government Industry to Witness the Highest CAGR in Asia-Pacific During the Forecast Period
Figure 50 Healthcare Industry Segment Holds the Largest Market Share of Image Recogntion Market in North America During Forecast Period
Figure 51 Transportation & Logistics Industry is Estimated to Have the Largest Market Size in North America in 2016
Figure 52 Others (Education and Gaming) Industry Segment is Projected to Grow at the Highest CAGR in Latin America From 2016 to 2021
Figure 53 Image Recognition Market: Regional Snapshot
Figure 54 North America Image Recognition Market Snapshot
Figure 55 Asia-Pacific Image Recognition Market Snapshot
Figure 56 Companies Adopted New Product Launches as the Key Growth Strategy From 2013 to 2017
Figure 57 Battle for Market Share: New Product Launches and Agreements, Collaborations & Partnerships are Key Strategies
Figure 58 Geographic Revenue Mix of Top Four Market Players
Figure 59 Qualcomm Incorporated.: Company Snapshot
Figure 60 Qualcomm Incorporated.: SWOT Analysis
Figure 61 NEC Corporation: Company Snapshot
Figure 62 NEC Corporation: SWOT Analysis
Figure 63 Google Inc.: Company Snapshot
Figure 64 Google: SWOT Analysis
Figure 65 Honeywell International Inc.: Company Snapshot
Figure 66 Honeywell International Inc.: SWOT Analysis
Figure 67 Hitachi, Ltd.: Company Snapshot
Figure 68 Hitachi, Ltd.: SWOT Analysis
Figure 69 Slyce Inc.: Company Snapshot

The study involved 4 major activities to estimate the current size of the Image recognition market. Exhaustive secondary research was undertaken to collect information on the market. The next step was to validate these findings, assumptions, and sizing with the industry experts across the value chain of the Image recognition using primary research. Both, top-down and bottom-up approaches were employed to estimate the overall market size. Thereafter, the market breakdown and data triangulation procedures were used to estimate the size of different segments and sub segments of the Image recognition market.

Secondary Research

In the secondary research process, various secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet were referred to identify and collect information for this study. These secondary sources included annual reports, press releases and investor presentations of companies, white papers, certified publications and articles by recognized authors, gold standard and silver standard websites, regulatory bodies, trade directories, and databases.

Primary Research

The Image recognition market comprises several stakeholders such as service providers, system integrators, security agencies, trade associations, government authorities, security equipment providers, and Value-added Resellers (VARs). The demand side of the market consists of all firms operating in the image recognizing domain. The supply side includes providers of image recognition. Various primary sources from both, supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakdown of the primary respondents:

Image Recognition Market

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

Market Size Estimation

The top-down and bottom-up approaches were used to estimate and validate the global size of the Image recognition market and various other dependent submarkets. While using the top-down approach, an exhaustive list of all vendors, who offer IoT professional solutions and services was prepared. The share of these vendors in the market was estimated through annual reports, press releases, funding, investor presentations, paid databases, and primary interviews. Each vendor was evaluated based on the services offered by it and their use in various applications. The aggregate of revenues of all companies was extrapolated to reach the overall size of the market. Further, each segment of the market was studied and analyzed to obtain its market size and evaluate its regional penetration. The markets were triangulated using both, primary and secondary research. The primary procedure included extensive interviews of the industry leaders such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and marketing executives for key insights.

Data Triangulation

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

Objectives of the Report

  • To determine and forecast the size of the Image recognition market based on technology, component application, deployment type, industry vertical and region from 2016 to 2021, and analyze various macroeconomic and microeconomic factors that affect the market growth
  • To forecast the size of the market with respect to 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA)
  • To provide detailed information about the major factors such as drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To analyze each submarket with respect to individual growth trends, prospects, and contributions to the overall market
  • To analyze opportunities in the market for stakeholders by identifying high-growth segments of the Image recognition  market
  • To profile key market players, provide a comparative analysis based on their business overviews, regional presence, product offerings, business strategies, and key financials, and illustrate the competitive landscape of the market
  •  To track and analyze competitive developments such as mergers and acquisitions, new product/service launches/product enhancements, business expansions, partnerships, agreements, collaborations, and Research and Development (R&D;) activities in the market

Available Customizations

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

Product Analysis

  • Product matrix, which gives a detailed comparison of product portfolio of each company

Geographic Analysis

  • Further breakdown of the Asia-Pacific image recognition market
  • Further breakdown of the Middle East & Africa market
  • Further breakdown of the Latin American image recognition market

Company Information

  • Detailed analysis and profiling of additional market players
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Report Code
TC 2308
Published ON
Feb, 2017
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