Image Recognition in Retail Market to Witness Massive Growth by Google, Microsoft, Trax

PRESS RELEASE

Published March 11, 2023

The latest study released on the Global Image Recognition in Retail Market by HTF MI Research evaluates market size, trend, and forecast to 2029. The Image Recognition in Retailmarket study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.

Key Players in This Report Include:

IBM (United States), AWS (United States), Google (United States), Microsoft (United States), Trax (Singapore), Intelligence Retail (United States), Snap2Insight (United States), Intel (United States), NVidia Corporation (United States), NEC (Japan)

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According to HTF Market Intelligence, the Global Image Recognition in Retail market to witness a CAGR of 21.34% during forecast period of 2023-2029. The market is segmented by Application (Scanning & Imaging, Image Search, Security & Surveillance, Augmented Reality, Marketing & Advertising, Others) by Component (Hardware, Software, Services) by Technology (Digital Image Processing, Code Recognition, Optical Character Recognition, Object Recognition, Pattern Recognition) and by Geography (North America, South America, Europe, Asia Pacific, MEA).

The growing retail industry in the COVID 19 pandemic is expected to witness high demand for Image Recognition in the Retail market in the forecasted period. The image recognition technology can be used for retail applications to process, analyze, and understanding images. Image recognition is used to perform a large number of machine-based visual tasks, such as labeling the content of images with meta-tags, performing image content search, and guiding autonomous robots, self-driving cars, and accident avoidance systems. This is beneficial for the retail industry. Thus, Many retailers are implementing Artificial Intelligence as well as image recognition technology in retail to deliver the next level of customer experience. Image recognition in retail includes technologies to enhance the in-store experiences of customers. Since the disease is spreading enormously, shoppers are avoiding crowded places and are not gathering at public places such as malls and stores. The technological advancement associated with Image Recognition in Retail can create lucrative opportunities in the forecasted period.

Market Trends:

Upsurging technological developments to boost the adoption of image recognition solutions among retailers
Hugh demand for brand recognition among end-users

Market Drivers:

High demand due to rise on-shelf availability
High Adoption due to enhance customer experience, and maximize RoI due to COVID-19

Market Opportunities:

The growing requirement to make informed decisions among retailers
High demand for cloud-based image recognition solutions

Major Highlights of the Image Recognition in RetailMarket report released by HTF MI

Market Breakdown by Applications: Scanning & Imaging, Image Search, Security & Surveillance, Augmented Reality, Marketing & Advertising, Others

Global Image Recognition in Retail market report highlights information regarding the current and future industry trends, growth patterns, as well as it offers business strategies to helps the stakeholders in making sound decisions that may help to ensure the profit trajectory over the forecast years.

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Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:

The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
North America (United States, Mexico & Canada)
South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).

Objectives of the Report

-To carefully analyze and forecast the size of the Image Recognition in Retail market by value and volume.
-To estimate the market shares of major segments of the Image Recognition in Retail
-To showcase the development of the Image Recognition in Retail market in different parts of the world.
-To analyze and study micro-markets in terms of their contributions to the Image Recognition in Retail market, their prospects, and individual growth trends.
-To offer precise and useful details about factors affecting the growth of the Image Recognition in Retail
-To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Image Recognition in Retail market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.

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Major highlights from Table of Contents:

Image Recognition in Retail Market Study Coverage:

It includes major manufacturers, emerging player's growth story, and major business segments of Image Recognition in Retail market, years considered, and research objectives. Additionally, segmentation on the basis of the type of product, application, and technology.
Image Recognition in Retail Market Executive Summary: It gives a summary of overall studies, growth rate, available market, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
Image Recognition in Retail Market Production by Region Image Recognition in Retail Market Profile of Manufacturers-players are studied on the basis of SWOT, their products, production, value, financials, and other vital factors.
Key Points Covered in Image Recognition in Retail Market Report:
Image Recognition in Retail Overview, Definition and Classification Market drivers and barriers
Image Recognition in Retail Market Competition by Manufacturers
Image Recognition in Retail Capacity, Production, Revenue (Value) by Region (2023-2029)
Image Recognition in Retail Supply (Production), Consumption, Export, Import by Region (2023-2029)
Image Recognition in Retail Market Analysis by Application {Scanning & Imaging, Image Search, Security & Surveillance, Augmented Reality, Marketing & Advertising, Others}
Image Recognition in Retail Manufacturers Profiles/Analysis Image Recognition in Retail Manufacturing Cost Analysis, Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing
Strategy by Key Manufacturers/Players, Connected Distributors/Traders Standardization, Regulatory and collaborative initiatives, Industry road map and value chain Market Effect Factors Analysis.

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Key questions answered

How feasible is Image Recognition in Retail market for long-term investment?
What are influencing factors driving the demand for Image Recognition in Retail near future?
What is the impact analysis of various factors in the Global Image Recognition in Retail market growth?
What are the recent trends in the regional market and how successful they are?

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COMTEX_426362196/2808/2023-03-11T12:31:37