According to market research report on "Image Recognition in CPG Market by Component (Hardware, Solutions & Services), Application (Inventory Analysis, Product and Shelf Monitoring Analysis & Gauging Emotions), Deployment Mode, End User (Online & Offline), and Region - Global Forecast to 2025”, published by MarketsandMarkets™, MarketsandMarkets forecasts the Image Recognition in CPG 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 21.7 % from 2020 to 2025. Increased in the need for efficient and profitable retail execution processes with adherence to compliance standards and technological advancements to boost the adoption of Image Recognition in CPG Market across the globe during the forecast period.
Browse and in-depth TOC on “Image Recognition in CPG Market”
231 – Tables
42 - Figures
209 - Pages
Download PDF [email protected]
Based on component, the hardware segment to account for the largest market size during the forecast period
This segment includes image sensors integrated with cameras. Hardware is an integral part of image recognition technology in the CPG market. Many companies like IBM and Qualcomm provide their company made sensors which help detect products, shelf life and even trends. For instance, Qualcomm offers the Vision Intelligence 400 platform that is built with powerful image processing and ML for smart camera products; it performs face detection, face recognition, product classification, and license plate recognition.
Based on application, the product and shelf monitoring analysis segment to account for the largest market size during the forecast period
The pandemic situation has forced people to concentrate more on online e-commerce businesses. Many leading retailers and CPG companies have adopted AI and image recognition technology for shelf monitoring and product identification. Computer vision and image recognition are used for product discovery, product recommendations and trend analysis.
Speak To Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=162002756
Among regions, North America to account for the highest market share during the forecast period
North America is a significant contributor to the global Image Recognition in CPG Market. The US and Canada are the major contributors to the North American market. Canada and the US are increasingly witnessing the merging of artificial intelligence with image recognition and augmented reality; this is expected to drive market growth in the region. The United States is home to major AI-based image recognition companies, leading to increasing adoption of the technology across the region. As a result, many companies are making their move towards the US market, intending to develop an assemblage of AI capabilities.
The major Image Recognition in CPG Market vendors include IBM (US), Google (US), Qualcomm (US), Microsoft (US), AWS (US), Trax (Singapore), Catchoom (Spain), Slyce (US), LTU Tech (France), Imagga (Bulgaria), Vispera(Turkey), Blippar(UK), Ricoh innovations (US), Clarifai(US), Deepomatic (France), Wikitude (Austria), Huawei (China), Honeywell (US), Toshiba (Japan), Oracle (US).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
Email: [email protected]
Content Source: https://www.marketsandmarkets.com/PressReleases/image-recognition-in-cpg.asp