Image recognition is
a technology used to acquire, analyze and understand images to detect and
distinguish images from one another. It is also used to identify and detect an
object or a feature in a digital image or video. This technology is used for
access control in high-security areas, private and public buildings, and in
intelligent buildings where a person’s identity and permission rights are
compulsory. It is also available as an integrated technology into smartphones
applications and used in different application areas such as to make mobile
payments, do online shopping and retailing through a high-quality visual
environment.
Analysts forecast
the Global Image
Recognition market will grow at
a CAGR of 42.91 percent during the period 2013-2018.
The Report
recognizes the following companies as the key players in the Global Image
Recognition Market : Catchoom, Honeywell , Itraff Technology, LTU Technologies,
Blipper, Hitachi, NEC , Panasonic, Qualcomm Technologies, Sharp Vision
Software, Toshiba , Wikitude
Retailers are
expected to begin using image recognition technology within the next few years
to enhance in-store customer service by enabling shoppers to scan an item with
an app. The usage of image recognition apps in the Retail industry helps to
reduce operational and customer support costs along with reducing the need for
human resources in many retail environments. For instance, if someone walks
into a large retail shoe store, instead of waiting for the sales associate, a
person could use her/his smartphone camera to scan the shoe with the help of
the mobile app powered by image recognition technology and the augmented
reality app will pull up the current inventory of the shoe
Covered in this Report
This report covers
the present scenario and the growth prospects of the Global Image Recognition
market for the period 2013-2018. To calculate the market size, the report
considers revenue generated from the sales of image recognition solutions in
the global market.
The report also
presents the vendor landscape and a corresponding detailed analysis of the top
four vendors in the market. It provides a geographical segmentation of the
markets for the year 2013 and discusses the major drivers that influence the
growth of the market. It also outlines the challenges faced by vendors and the
market at large, as well as the key trends emerging in the market.
According to the
report, the growth of the Global Image Recognition market is driven by several
factors. One of the major drivers in the market is the need for advanced
security in the Government sector. Government departments such as intelligence,
defense, finance, and military are the major adopters and users of image
recognition technology.
Further, the report
states that the global Image Recognition market is curtailed by some serious
challenges. The lack of accuracy is one of the major challenges in this market.
Image recognition systems may make errors in the identification process because
of factors such as aging, changes brought about by plastic surgery, and the
non-permanent makeup of the people whose images are stored in the database.
Key Regions
- North America
- Europe
- APAC
- MEA
- Latin America
Key Vendors
- Catchoom
- Honeywell
- Itraff Technology
- LTU Technologies
Other Prominent Vendors
- Blipper
- Hitachi
- NEC
- Panasonic
- Qualcomm Technologies
- Sharp Vision Software
- Toshiba
- Wikitude
