AI Image Recognition Market: Overview
The global AI image recognition market is expected to rise at an impressive pace in the coming few years, thanks to the unprecedented digitalization.
AI Image recognition technology plays a crucial role in online visual revolution. In additional to this, rising popularity of cloud services and mobile devices equipped with cameras has contributed to market growth.
An upcoming report on the AI image recognition market by Transparency Market Research is expected to offer an in depth analysis on industry. The report is anticipated to cover all the important segments in the market. Along with this, the report is anticipated to have of vital data that will help indicating growth and latest trend in the AI image recognition market during the forecast period.
AI Image Recognition Market: Notable Developments
Some of the recent development in the AI image recognition market are-
In November 2017, Amazon Web Services (AWS) a prominent player in the AI image recognition market has announced to launch five new machine learning services and the deep learning-enabled video camera for developers. This will allow app developers to easily build applications that convert translate text between languages, speech to text, extract insights from text, and analyze videos.
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Some of the prominent players operating in the AI image recognition market are Qualcomm Inc., Google Inc., NEC Corporation, LTU Technologies, Honeywell International Inc., Catchoom Technologies S.L., Hitachi, Ltd., Slyce Inc., and Wikitude GmbH. The presence of several prominent players are making this highly competitive and fragmented.
AI Image Recognition Market: Key Trends
The global AI image recognition market is expected to rise at a significant pace in the coming few years. This is because of the increasing application of image-based virtual tasks and barcode scanning devices and adoption of the AI image recognition technology in advertising, automation, security surveillance, monitoring purpose are some of the factor expected to drive the global AI image recognition market.
Despite several drivers, factors such as lack of consumer awareness, technical issues in integrating the technologies is hampering the global AI image recognition market. In addition to this, high cost of image recognition technology is expected to hamper growth in the AI image recognition market.
Nevertheless, factors like easy internet accessibility, rising disposable income and increasing penetration of the ecommerce, growing popularity of social media are expected to significant boost to the global AI image recognitions market during the forecast period.
Factors like digital shopping and document verification are propelling market growth is expected to drive the AI image recognition market. Increasing demand for virtual market and rising number of unstructured multimedia data are creating immense potential for image recognition solutions.
Lastly, growing investments in the market by the players such as Huawei and Apple is expected offer several new opportunities to the AI image recognition market.
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AI Image Recognition Market: Regional Outlook
The global AI image recognition market is divided into Asia Pacific, North America, the Middle East and Africa, Europe and Latin America. Among all these region, North American is expected to dominate the AI image recognition market in the coming few years. This is mainly due to the growing use of image recognition technology is retails, e-commerce platforms, and corporate house.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
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The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
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A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
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- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
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- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
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