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The North America Image Recognition Market Size is poised to grow at a market growth of 16.5% 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. The North American region is the largest and holds the maximum market share. Higher adoption of new and advanced technologies such as mobile application security solutions drives the growth of market in the North American region. The adoption of image recognition and its derivative technologies such as facial and pattern recognition are wide deployed in on-premises model and the adoption would significantly drive the growth of the on-premises segment.
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 US, Canada, Mexico and Rest of North America. US remained the dominant Country in the North America Image Recognition market in 2015. Canada would witness promising CAGR during the forecast period (2016-2022).
The report covers the analysis of key stake holders 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.