The global market for image recognition in retail is projected to have considerable CAGR during the forecast period. The market growth mainly driven by the increasing application in a wide range of application such as vision analytics, marketing & advertising and others in retail industry. The growing adoption of image recognition software for packaging recognition, product search & track on the web, product detection for brand protection and others are the most common factor contributing to the market. Furthermore, the recent developments in big data analytics, cloud computing, social networks, natural language processing (NLP) and machine learning have a significant impact on image recognition technologies in retail sector. The rapid advancement in advanced technologies such as AI and their increasing adoption in the various application is further projected to provide significant opportunity to the market.
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In the geographic overview, the market is divided into North America, Europe, Asia-Pacific and Rest of the World. North America is reporting the dominant share in the global image recognition market due to the presence of an established advanced technology industry in the US and Canada. Established industry supports the technology adoption in various end-user segments. Additionally, market growth is being supported by the presence of major market players in the US. Europe accounts for considerable market share due to stringent regulations and financial support of governments in the European countries for cyber security reasons. Asia-Pacific is estimated to grow with an alarming rate during the forecast period. A substantial increase in the advancement in the retail sector and the growing ICT industry in the emerging economies of the region is supporting the growth rate for the global image recognition market. Japan, South Korea, India, and China are a significant contributor to the global image recognition market in the Asia-Pacific region. Major market players of the market include Microsoft Corp., Google, LLC, Amazon Web Services, Inc., IBM Corp., Hitachi Ltd., Honeywell International, Inc., and others.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Image Recognition in Retail Market by Deployment Type
- On-Premises
- Cloud-Based
Global Image Recognition in Retail Market by Application
- Vision Analytics
- Marketing and Advertising
- Visual Product Search
- Others( Security and Surveillance)
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Amazon Web Services, Inc.
- Blippar Ltd
- Catchoom Technologies, S.L.
- Clarifai, Inc.
- Deepomatic
- Google LLC
- IBM Corp.
- Imagga Technologies Ltd.
- Intelligence Retail
- LTUTech
- Microsoft Corp.
- NEC Corp.
- ParallelDots, Inc.
- Qualcomm Technologies, Inc.
- Ricoh Innovations Corp.
- Slyce Acquisition Inc.
- Snap2Insight Inc.
- ShelfWise Sp. z o.o.
- Trax Technology Solutions Pte Ltd.
- Vispera
The Report Covers
- Market value data analysis of 2019 and forecast to 2026.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global image recognition in retail market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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