Global Image Recognition Market Size study, by Components (Hardware, software, services), by Application (Scanning and Imaging, Security and Surveillance, Image Search), by deployment mode (cloud, On-premises) and Regional Forecasts 2020-2027

20off

Global Image Recognition Market is valued approximately at USD 22.76 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 15.1% over the forecast period 2020-2027. Image recognition is the ability of the software that identifies images, places, objects, writings and others. It performs various tasks such as self-driving cars, image content search, labeling the content of images with meta-tags, and guiding autonomous robots. Principally image recognition follows machine learning technique which needs deep understanding of algorithms. Rise in the adoption of artificial intelligence, due to rise of cyber-attacks in industries such as manufacturing, financial service, insurance and BFSI industries. There was a sharp increase of cyber-attacks during 2010-2018 period, 40,000 and above cases were registered in just five days according to the Maharashtra state police and NDTV. For instance, according to Statista report the global AI software market is expected to grow approximately 54 percent year-on-year in year 2020 reaching a forecast size of 22.6 billion U.S. dollars. Therefore, this factor may strengthen the adoption for Image Recognition Market across the globe. Moreover, various businesses are shifting towards digitization to transform the business processes around the world, are also some of the key factors responsible for the CAGR of the market during the forecast period. However, the high cost involved in manufacturing Image Recognition devices is one of the factors that restraining the market growth over the forecast period of 2020-2027.

The regional analysis of the global Image Recognition Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to adoption of technology at faster rate in the region. Whereas Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027, owing increase in merging of artificial intelligence with image recognition,

Major market player included in this report are:
Google Inc.
Catchroom
Hitachi, Ltd.
Honeywell International Inc
LTUTech
NEC Corporation
Qualcomm Technologies, Inc.
Slyce Acquisition Inc.
Wikitude GmbH.
NEC Corporation

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component:
Hardware
Software
Services

By Application:
Scanning and Imaging
Security and Surveillance
Image Search

By Deployment mode
cloud
On-premises

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Image Recognition Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

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Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Image Recognition Market, by Region, 2018-2027 (USD Billion)
1.2.2. Image Recognition Market, by Components, 2018-2027 (USD Billion)
1.2.3. Image Recognition Market, by Application, 2018-2027 (USD Billion)
1.2.4. Image Recognition Market, by Deployment mode, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Image Recognition Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Image Recognition Market Dynamics
3.1. Image Recognition Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Image Recognition Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economic
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Image Recognition Market, by Components
5.1. Market Snapshot
5.2. Global Image Recognition Market by Components, Performance - Potential Analysis
5.3. Global Image Recognition Market Estimates & Forecasts by Components 2017-2027 (USD Billion)
5.4. Image Recognition Market, Sub Segment Analysis
5.4.1. Hardware
5.4.2. Software
5.4.3. Services
Chapter 6. Global Image Recognition Market, by Application
6.1. Market Snapshot
6.2. Global Image Recognition Market by Application, Performance - Potential Analysis
6.3. Global Image Recognition Market Estimates & Forecasts by Application 2017-2027 (USD Billion)
6.4. Image Recognition Market, Sub Segment Analysis
6.4.1. Scanning and Imaging
6.4.2. Security and Surveillance
6.4.3. Image Search
Chapter 7. Global Image Recognition Market, by Deployment Mode
7.1. Market Snapshot
7.2. Global Image Recognition Market by Deployment Mode, Performance - Potential Analysis
7.3. Global Image Recognition Market Estimates & Forecasts by Deployment mode 2017-2027 (USD Billion)
7.4. Image Recognition Market, Sub Segment Analysis
7.4.1. cloud
7.4.2. On-premises
Chapter 8. Global Image Recognition Market, Regional Analysis
8.1. Image Recognition Market, Regional Market Snapshot
8.2. North America Image Recognition Market
8.2.1. U.S. Image Recognition Market
8.2.1.1. Components breakdown estimates & forecasts, 2017-2027
8.2.1.2. Application breakdown estimates & forecasts, 2017-2027
8.2.1.3. Deployment Mode breakdown estimates & forecasts, 2017-2027
8.2.2. Canada Image Recognition Market
8.3. Europe Image Recognition Market Snapshot
8.3.1. U.K. Image Recognition Market
8.3.2. Germany Image Recognition Market
8.3.3. France Image Recognition Market
8.3.4. Spain Image Recognition Market
8.3.5. Italy Image Recognition Market
8.3.6. Rest of Europe Image Recognition Market
8.4. Asia-Pacific Image Recognition Market Snapshot
8.4.1. China Image Recognition Market
8.4.2. India Image Recognition Market
8.4.3. Japan Image Recognition Market
8.4.4. Australia Image Recognition Market
8.4.5. South Korea Image Recognition Market
8.4.6. Rest of Asia Pacific Image Recognition Market
8.5. Latin America Image Recognition Market Snapshot
8.5.1. Brazil Image Recognition Market
8.5.2. Mexico Image Recognition Market
8.6. Rest of The World Image Recognition Market
Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1.1. Key Information
9.2.1.2. Overview
9.2.1.3. Financial (Subject to Data Availability)
9.2.1.4. Product Summary
9.2.1.5. Recent Developments
9.2.2. Google Inc.
9.2.3. Catchroom
9.2.4. Hitachi, Ltd.
9.2.5. Honeywell International Inc
9.2.6. LTUTech
9.2.7. NEC Corporation
9.2.8. Qualcomm Technologies, Inc.
9.2.9. Slyce Acquisition Inc.
9.2.10. Wikitude GmbH.
9.2.11. NEC Corporation
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

Research Process

The research starts with the extensive procurement process of data/information and statistics from company annual reports, government websites, statistic agencies, and paid databases. This information creates a base for the study. This information also helps to define the scope and to narrow down the area for study for the market. This raw information is processed and analysed to extract crisp data points which currently affect or are likely to affect the industry over the forecast period. After analysing the information, a proprietary market estimation & forecast technique is applied, which generates the quantitative figures/sizes of the market/sub-segments in the current scenario as well as for over the forecast period. After populating the market sizes & estimates, numbers are verified with the industry participants and key opinion leaders. The wide network of industry participants performs a value addition in the research and verify the numbers & estimates of the study. In the last stage of the research process, a final report is prepared which is then published on different websites as well as distributed through various channels. Below figure contains the different stages of the whole research performed to produce the report.

After populating the market sizes & estimates, numbers are verified with the industry participants and key opinion leaders. The wide network of industry participants performs a value addition in the research and verify the numbers & estimates of the study. In the last stage of the research process, a final report is prepared which is then published on different websites as well as distributed through various channels. Below figure contains the different stages of the whole research performed to produce the report.

DATA MINING

Data mining is one of the extensive stages of our research process. It involves the procurement of market data and related information through different verified & credible sources. This step helps to obtain the raw information about the supply chain of the industry, the monetary process of different Products & End-Uses, the pool of market participants & the nature of the industry and the scope of the study. The data mining stage comprises both primary as well as secondary sources of information. Some of the key data sources are as follows:

Secondary Research In the process of secondary research, various sources are referred to identify and collect industry trends and information for the research process. We at having access to some of the most diversified and extensive paid databases which give us the most accurate data/information on markets sizes, Products and pricing.

In the primary research process for data mining, various key industry participants from both supply and demand side are interviewed to obtain both qualitative as well as quantitative information on the market. In-depth interviews with key primary respondents, including industry professionals, subject matter experts (SMEs), industry consultants, and C-level executives of major companies are conducted to obtain critical qualitative and quantitative aspects pertaining to the market, as well as to assess the prospects for market growth over the forecast period.

ANALYSIS

This step involves the analysis & mapping of all the information procured from the previous step. This step also encompasses the scrutiny of data discrepancies observed across various data sources and finalising the appropriate data for estimation and forecasting. This analysis is done by our experienced panel of industry analysts.

MARKET ESTIMATION

Understanding and penetrating the market in terms of valuation is a crucial task in the process of business research. This again becomes significantly important while investing and choosing the business opportunities. In this regard, we perform two ways market sizing approach simultaneously namely top-down and bottom-up approaches. In this step, we place different data points, numeric attributes, information, and industry trends at an appropriate space in order to deduce the estimates & forecast values over the coming years. We use different mathematical models to estimate the market sizes of different economies and segments. Each of which is further summed up to define the total market. We own a proprietary tool for market estimations which helps us to comprehend market size estimates & forecasts for different markets and industries. Below figure explains the process of market estimation using independent tool employed by our analysts to get the sizing off the market.