Scope of the Study
Artificial Intelligence system which processes visual information depends on the computer systems, which are capable of identifying specific objects. It categorizes the image which is based on content and performs image recognition. This system is important for robots which need to quickly and accurately recognize the objects in the environment. In addition, it is used by driver less cars to identify the pedestrians, signs, and vehicles. These applications in electric vehicles and robots are increasing the demand of AI image recognition.
The market study is being classified, by Application (Automotive, Scanning and imaging, Security and Surveillance, Image search and Others) and major geographies with country level break-up.
Google (United States), IBM (United States), Intel (United States), Microsoft (United States), Amazon Web Services (United States), Qualcomm Inc. (United States), NEC Corporation (Japan), LTU Technologies (France), Honeywell International Inc. (United States) and Catchoom Technologies S.L. (Spain) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Hitachi, Ltd. (Japan), Slyce Inc. (United States) and Wikitude GmbH (Austria).
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global AI Image Recognition market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global AI Image Recognition market by Type, Application and Region.
On the basis of geography, the market of AI Image Recognition has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Usage of Image Recognition in Security and Surveillance
- Growing Popularity of Social Media with Internet Penetration is Fueling the Market
- Technological Advancements in Image Recognition
- Technical Issues while Integrating the Technology May Hamper the Market
- Increasing Penetration of E commerce is Boosting the Market
- Wide Range of Applications of AI Based Image Recognition
- Lack of Awareness about the Technology
Market Leaders and their expansionary development strategies
July 2019, Star Alliance, which is a global airline, announced a partnership with NEC Corporation. It is intended to develop a biometric data-based identification platform for the pass-through areas at the airports, such as boarding gates and check-in kiosks.
October 2019, SnapPay Inc., which is a United States based payment platform provider, has launched facial recognition payment technology in the North America region.
Key Target AudienceAI image recognition software developers, Government associations, Research organizations, software vendors and Others
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