Image Recognition Market – Overview:
Technological developments reign the modern era, over the years people have become more accepting of technological changes. And due to this the smaller markets have an opportunity to expand themselves. One of the best examples of this fact is the progression witnessed by the global image recognition market. Owing to its rising popularity Market Research Future recently released a research report on ‘Image Recognition Market’. The report suggests that this market will grow by leaps and bounds in the forthcoming forecast period of 2017-2022.
Image recognition is a procedure that is utilized to obtain, scrutinize and process pictures. This technique can be very effectively employed to assimilate high-dimensional data with the aim of generating numerical or symbolical information.
The future looks pretty good for the image recognition market from a fiscal point of view. This market is all set to tread forward at an impressive CAGR during the projection period. On the other hand, the estimated revenue turnover numerals also look quite promising.
Over the years, several commercial business owners have realized the importance of assimilating data or information from mages digitally. The information derived from images can enable to augment their customer experience and they will also be adept enough to provide several new services to their consumers. This fact happens to be one of the major factors that propels the growth of the global market for image recognition.
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Major Key players
Jestec (LTU Technologies) (Japan),
Itraff Technology (Poland),
Sharp Vision Software (U.S.),
Qualcomm Technologies (U.S.),
Honeywell (U.S.),
Toshiba (Japan),
Panasonic (Japan),
NEC (Japan),
Hitachi(Japan),
Catchoom and others.
Industry News
April 9, 2018 – Panasonic recently launched a brand new facial recognition software named FacePRO. This system utilizes extreme sensing and augmented detection technology to identify people of interest and alert authorities of their presence in real time. This product launch is anticipated to garner a lot of benefit for the image recognition market.
Comprehensive Regional Analysis
The image recognition market is not at all constrained to one single area, it has successfully outreached various corners of the world. Some of the main regions where its presence can be predominantly observed can be listed as Asia Pacific, Europe, North America and Rest of the World.
Amongst all the areas mentioned above, the research report by Market Research Future confirms that Asia Pacific is the region with the lead. It dominates this market in terms of area with the largest number of shares. And the primary reason for its lead is the easy availability of smart phones in this area. Furthermore, regions such as India and China happen to get in the maximum quotient of the business for this area.
North America is not that far behind, it takes charge of the second highest number of shares of the market. During the forecast span, this area is expected to grow at an encouraging CAGR. Europe will also progress tremendously in the forthcoming years.
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Target Audience:
- Key Technology Providers
- System Integrators
- Software Providers
- IC Manufacturers
- OS Vendors
- Application Developers
- Content Providers
- Device Manufacturers
- Raw material & manufacturing equipment suppliers
- ODM and OEM technology solution providers
- Distributors and retailers
- Research organization
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