The most recent study conducted by Report Ocean, titled “Global Image Recognition Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Image Recognition. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
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.
Request To Download Sample of This Strategic Report:- https://reportocean.com/industry-verticals/sample-request?report_id=bw1935
According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
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
Download Free Sample of This Strategic Report:- https://reportocean.com/industry-verticals/sample-request?report_id=bw1935
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.
To Get More Business Strategies For Request Sample Report:- https://reportocean.com/industry-verticals/sample-request?report_id=bw1935
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
Reasons to Buy this Report:
- Access to date records compiled by using our researchers. These supply you with historic and forecast data, which is analyzed to inform you why your market is set to change
- This allows you to assume market adjustments to stay in advance of your competitors
- You will be in a position to replica facts from the Excel spreadsheet straight into your advertising plans, enterprise presentations, or different strategic documents
- The concise analysis, clear graph, and desk structure will allow you to pinpoint the statistics you require quickly
- Provision of market cost (USD Billion) records for every section and sub-segment
- Indicates the place and phase that is predicted to witness the quickest increase as properly as to dominate the market
- Analysis via geography highlighting the consumption of the product/service in the location as properly as indicating the elements that are affecting the market inside every region
- Competitive panorama which accommodates the market rating of the most important players, alongside with new service/product launches, partnerships, enterprise expansions, and acquisitions in the previous 5 years of businesses profiled
- Extensive agency profiles comprising of employer overview, organization insights, product bench marking, and SWOT evaluation for the essential market players
- The cutting-edge as nicely as the future market outlook of the enterprise regarding latest traits which contain increase possibilities and drivers as nicely as challenges and restraints of each rising as nicely as developed regions
- Includes in-depth evaluation of the market from quite a number perspectives thru Porter’s 5 forces analysis
- Provides perception into the market via Value Chain
- Market dynamics scenario, alongside with boom possibilities of the market in the years to come
- 1-Year post-sales analyst support
Request Full Report- https://reportocean.com/industry-verticals/sample-request?report_id=bw1935
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean is the world’s leading research company, known for its informative research reports. We are committed to providing our clients with both quantitative and qualitative research results. As a part of our global network and comprehensive industry coverage, we offer in-depth knowledge, allowing informed and strategic business conclusions to report. We utilize the most recent technology and analysis tools along with our own unique research models and years of expertise, which assist us to create necessary details and facts that exceed expectations.
Get in Touch with Us:
Report Ocean:
Email:sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 – UNITED STATES
Tel:+1888 212 3539 (US – TOLL FREE)
Website:https://reportocean.com