DUBLIN, March 24, 2016 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/lkqwn7/image_recognition) has announced the addition of the "Image Recognition Market by Technology, by Component, by Application, by Deployment Type, by Industry Vertical and by Region - Global Forecast To 2022" report to their offering.
The rising adoption of smartphones among users will help the image recognition market grow significantly
The author forecasts the global image recognition market to grow from USD 12.49 billion in 2015 to USD 29.98 billion by 2020, at a CAGR of 19.1%. Smartphones and gadgets equipped with cameras have pushed this technology. Online shoppers search for clothing or accessories by simply taking a picture of the garment, color, print, or texture they like. This photo is then uploaded to an app that searches an inventory of products to find the similar items, products, or items with the help of image recognition technology. The speedy growth of social media is also driving the image recognition market.
Asia-Pacific (APAC) is expected to become one of the major adopters of image recognition techniques by 2020
APAC is growing at a higher rate in comparison to other regions. Moreover, countries in the region, mainly Australia, China, and India, are prominently adopting technologies and solutions within the organizations for increasing profits along with customer satisfaction. Moreover, it is being used for marketing and promotional activities in many leading Asian newspapers and magazines.
Also, advertising agencies in Japan, such as Hakuhodo and Dentsu, have combined image recognition software with time and GPS from smartphones to link with the consumers and provide them with the product information by creating platforms/apps such as Kokoku Plus, Gaziru, and Scan It. Furthermore, the adoption of emerging technologies and the economic growth of countries such as India and China are driving the adoption of image recognition.
The companies profiled in this report include:
- Qualcomm Technologies
- NEC Corporation
- Google, Inc.
- LTU Technologies
- Catchoom Technologies S.L.
- Honeywell International, Inc.
- Hitachi Ltd.
- SLYCE Holding, Inc
- WIkitude Gmbh
- Attrasoft, Inc
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Image Recognition Market Analysis, By Technology
8 Image Recognition Market Analysis, By Component
9 Image Recognition Market Analysis, By Application
10 Image Recognition Market Analysis, By Deployment Type
11 Image Recognition Market Analysis, By Industry
12 Geographic Analysis
13 Competitive Landscape
14 Company Profiles
15 Innovator Company Profiles
16 Other Developments
For more information visit http://www.researchandmarkets.com/research/lkqwn7/image_recognition
Research and Markets
Laura Wood, Senior Manager
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/image-recognition-market-2016-2020---technology-component-application-deployment-type-industry-vertical-analysis-of-the-29-billion-industry-300240993.html
SOURCE Research and Markets