The Global Image Recognition Market is anticipated to grow at a significant rate during the forecast period. Image recognition refers to the process that recognize people, places, objects, logos, buildings, and several other variables in the form of images by using AI and machine learning. The users are continuously engaged in sharing a huge amount of data via apps, social networking sites, and websites. In addition, smartphones that are equipped with cameras are contributing to the formation of limitless digital images and videos across the globe. The harnessing of data of any object, person, place, and various other things by using image recognition tools offers assistance to the machine to identify the related data and to perform a machine-based visual task for various end-user industries. This in turn, is leading to the growth of the market.

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The paradigm shift from brick and mortar shopping to online shopping has made a significant contribution to the growth of the global image recognition market. The use image recognition tool can be utilized to convert one’s smartphone into a virtual showroom by offering a more interactive view of the products. For instance, CamFind API by Image Searcher Inc. facilitates an advanced version of mobile business by identifying objects such as bags, shoes, watches, sunglasses and many others. With this API, the prospective buyers can make live product comparison without having a visit to any website. The use of image recognition delivers an easy online shopping experience to the customers.

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Image recognition and processing system is a crucial part of the autonomous vehicles. Cars, in the future years, are expected to identify obstacles and to give alerts to the individuals about proximity to the walkways and guardrails. The image recognition technology is able to read road signs and stoplights. Moreover, the computer vision system powered by deep learning and machine learning is designed using thousands of images. Images of road signs, humans, roads and others under different weather conditions are fed into the neural networks. This fed of progressively increasing data in the system makes them more precise. Thus, the increasing adoption of this technology in sectors such as automotive is expected to provide a positive growth to the market.

Current market trends covered in the market report
• An increasing number of smartphone users across the globe
• Increasing demand for metadata and big data analytics
• North America is projected to hold a major market share
• Rising privacy concern hindering the market growth
• Partnerships and collaborations – key drivers of competition in this market
• Technological advancement in the image recognition software is a major opportunity for the growth of the market

Global Image Recognition Market Segmentation
By Application
• Augmented Reality
• Marketing
• Security
• Image Search
• Others
By End-User
• Retail Sector
• Telecom & IT
• BFSI
• Media & Entertainment
• Healthcare
• Others

Global Image Recognition Market – Segment by Region
North America
• US
• Canada
Europe
• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East and Africa

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