Asia Pacific Image Recognition Market By Component Type (Hardware, Software, Services - Professional, Managed), Application (Scanning & Imaging, Security & Surveillance, Image Search, Marketing & Advertising), Vertical (BFSI, Media & Entertainment, Retail & Consumer Goods, Telecom & IT, Government, Healthcare, Transportation & Logistics), Deployment Mode, Technology
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The Asia Pacific Image Recognition Market Size is anticipated to experience a growth of 20.0% CAGR during the forecast period (2016- 2022).
Image recognition is a method used to acquire, process, and scrutinize images. The technique is used to gather high-dimensional data for the purpose of generating numerical or symbolic information. Image recognition incorporates disentangling of representational information from the data gathered from the image by using replica created with the help of geometry, physics, statistics, and learning theory.
Asia-Pacific would be the most potential region and it would grow at the highest CAGR during the forecast period due to widespread adoption of cloud, mobility, and infrastructure management solutions to address information security. To add to the popularity, the smartphones and devices with cameras have further driven the market growth. Growing demand for security applications and products enabled with image recognition functions will have a significant impact on the market growth. Different sectors such as retail, automotive, healthcare, and defense, are widely adopting the image recognition technology within the working environment. Low-resolution image size and storage are some factors that would restrict the market growth.
Based on the Component, the market is segmented into Hardware, Software, and Services. Services are divided into two segments, Professional and Managed. Professional services are further divided into Implementation, Consulting & Training, and Support & Maintenance. Based on Application, the market is segmented into Scanning & Imaging, Security & Surveillance, Image Search, Marketing & Advertising, and Others. Based on Vertical, the market is segmented into BSFI, Media & Entertainment, Retail & Consumer Goods, Telecom & IT, Government, Healthcare, Transportation & Logistics, and Others.
Based on Deployment Mode, the market is segmented on Cloud and On-Premise. Based on Technology, the market is segmented into Code Recognition, Digital Image Processing, Facial Recognition, Object Recognition, Pattern Recognition, and Others. Based on country, Image Recognition market is segmented into China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia-Pacific.
China remained the dominant country in the Asia-Pacific Image Recognition market in 2015. India and South Korea would witness promising CAGR during the forecast period (2016-2022). The report covers the analysis of key stakeholders of the Image Recognition market. Key companies profiled in the report include NEC Corporation, IBM Corporation, Hitachi Ltd., Catchoom, Google Inc., Qualcomm Incorporated, Honeywell International, Inc. and LTU Technologies.