The image recognition market is estimated to grow from $9.65 billion in 2014 to $25.65 billion by 2019 at a Compound Annual Growth Rate (CAGR) of 21.6% from 2014 to 2019.
Dallas, Texas (PRWEB) March 26, 2014
In the era of fast moving technology transitions where visual content is continuously replacing the conventional textual solutions, technologies such as image recognition and 3D object and facial recognition are building a sound foundation for providing top-notch solutions in areas such as infrastructure security and surveillance, automotive safety, automatic driving and parking assistance, forensics and police investigations, social media, biometric scanning equipment for medical sciences, security purposes, and m-commerce.
Image recognition is being applied in almost every field in today’s world. It is just in the introduction phase of various industry applications. The technologies in which image recognition is being used include Augmented Reality (AR), visual search, virtual reality, big data, and mobile applications. Major companies providing image recognition solutions and services are Hitachi, Amazon, Honeywell, iTraff Technologies, LTU Technologies, NEC, Panasonic, Qualcomm Inc., and Toshiba.
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Researcher believes that there is a lack of user awareness and a few technological quality issues in the image recognition market. These challenges are restraining businesses and customers from implementing image recognition technology to support a broad spectrum of applications, such as security and surveillance, marketing and promotional activities, content management, advanced driving assistance, quality control and inventory management, scanning and imaging, and m-commerce.
The image recognition market research report analyzes global adoption trends, future growth potential, key drivers, restraints, opportunities, and best practices in this market. The report also analyzes market sizes and revenue forecasts across different geographies as well as industry verticals.
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Major points from table of content
11 Company Profiles (Overview, Products & Services, Financials and Strategy & Analyst Insights)
11.2 Hitachi Ltd.
11.4 Itraff Technology
11.5 LTU Technologies
11.6 NEC Corporation
11.7 Panasonic Corporation
11.8 Qualcomm Technologies
11.1 Wikitude Gmbh
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