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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Among application, the vision analytics segment held a considerable growth in the market owing to increasing demand of analytics solutions for better customer experience in retail shop and malls. Moreover, AI with the image recognition enables to ease the process and alleviate the shopping experience for the customers. Companies such as Amazon, Lenskart, Adidas, Cognizant and many more uses the image recognition in their retail stores. Amazon’s friction-less grocery store uses image recognition to identify its customer and support them by making their shopping experience better without the requirement of stopping at payment counters. Lenskart and Adidas have their image recognition system which enables the customer to try how the accessories look on them without actually wearing them. They can just select the option and image recognition system will project it on the screen as how it looks on them.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- 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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