Global Image Recognition Market | Growth, Size, Share 2019

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GLOBAL IMAGE RECOGNITION MARKET FORECAST 2019-2027
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• The global image recognition market is projected
  to record growth at a CAGR of 21 during the
  forecast period.
• The increasing demand for facial recognition, the
  technological advancements in the domain of
  facial recognition, and the favorable
  regulations, are the factors propelling the
  growth of the market.

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• Image recognition is a technology that has
  numerous applications, and detects objects and
  features in a digital image using various
  algorithms.
• The increasing adoption of facial recognition
  systems and the rise in the need for using data
  analytics, are estimated to sustain the market
  growth in a significant manner.
• However, the increasing expenditure accompanying
  the image recognition applications in the domains
  of retail, media, and marketing, is expected to
  deter market growth.
• Although there are market growth opportunities
  for image recognition with regards to the
  increasing usage of arterial intelligence, the
  concerns over image quality pose a threat to
  market growth.

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The Global Image Recognition Market is estimated
to grow with an anticipated CAGR of 21 during
the forecasted period, and will reach the revenue
of 20636.53 million by 2027. Request free sample
report now!
https//www.inkwoodresearch.com/reports/global-ima
ge-recognition-market/request-free-sample
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• The global market for image recognition is
  assessed based on the markets present across
  regions such as, North America, Europe, Asia
  Pacific, and the Rest of the World.
• The Asia Pacific region is estimated to record
  the highest growth rate during the forecast
  period, owing to the increasing demand for image
  recognition applications, and increasing IT
  budgets in the region.

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The North America image recognition market is
projected to garner a CAGR of 18.39 during the
forecasted period of 2019-2027. The rising number
of smartphone and electronic gadgets users using
image recognition applications, and increasing
adoption and application of drones in various
domains, are the factors expected to propel the
market growth.
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The Europe image recognition market is expected
to project a steady growth and a CAGR of 20.22
during the forecast period, 2019-2027. The
increasing applications of machine vision systems
in inspection and industrial automation, and
rising adoption of image recognition, are the
factors estimated to drive the market growth.
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The Asia Pacific image recognition market is
predicted to record steadfast growth with a CAGR
of 24.28 during the forecasted period,
2019-2027. The shifting preference towards new
technologies, increasing funding in the IT
sector, and rising economic capabilities, are the
factors boosting the growth of the market.
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The significant development in the e-commerce
sector and partnerships between the players in
the market is contributing to the market growth.
Some of the major companies in the region are
Hitachi Ltd., Qualcomm Technologies, Inc., NEC
Corporation, Google LLC., Honeywell International
Inc., LTU Technologies, Amazon Web Services Inc.,
etc.
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