|[August 20, 2014]
Research and Markets: Global Image Recognition Market 2014-2018: Key Vendors are Catchoom, Honeywell, Itraff Technology & LTU Technologies
DUBLIN --(Business Wire)--
Research and Markets (http://www.researchandmarkets.com/research/6rtrzt/global_image)
has announced the addition of the "Global
Image Recognition Market 2014-2018" report to their offering.
The Global Image Recognition market will grow at a CAGR of 42.91 percent
during the period 2013-2018.
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 markt at large, as
well as the key trends emerging in the market.
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.
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
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.
Honeywell (News - Alert)
Other Prominent Vendors
Sharp (News - Alert) Vision Software
For more information visit http://www.researchandmarkets.com/research/6rtrzt/global_image
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