Global image recognition market to show strong growth during 2019-2021 Nov 12 , 2021

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Global image recognition market to show strong growth during 2019-2021

Considering the uncertainty of COVID-19, analysts are constantly tracking and evaluating the direct and indirect impact of the pandemic on different end-use sectors. It is found that the global image recognition market has shown strong growth during 2019-2021.

Image recognition is a set of technologies that help to recognize various digital images, including signs, objects, places, people, and buildings. It is a subset of artificial intelligence (AI) and computer vision and involves various steps, namely classification, labeling, detection, and segmentation. Image recognition is widely used in various recognition fields, such as performing image content searches, recording the content of images, and guiding autonomous robots and self-driving cars

The global image recognition market is mainly driven by the increasing number of applications in working environments in various end-use industries such as healthcare, retail, manufacturing, warehousing and logistics, security systems, public utilities, etc.

The escalating demand for security products and applications embedded with advanced image recognition technology is further contributing to the growth of the market.The escalating demand for security products and applications embedded with advanced image recognition technology is further contributing to the growth of the market.

In retail, for example, image recognition is increasingly being used to place products, identify shelves and meet sales standards, which creates a positive outlook for the market.

An example is the now rapidly growing service of self-checkout systems. what is a self-checkout system, is a mechanical and technical solution that enables shoppers to scan, pack and pay in retail stores without human assistance. Customers can purchase the products themselves and pay for the goods without the support of the cashier.

The system includes a touch screen panel, barcode scanner to scan and record product codes, basket holder, weighing scales and a cash or credit card payment module. It offers various benefits such as reduced customer waiting times and cart abandonment, improved resource utilisation and increased operational flexibility.

Rapid urbanisation, the uncertainty of COVID-19, has made it easier for people to accept this mode of retail automation and to quickly appreciate the convenience it brings to their lives. This is one of the key factors driving the growth of retail automation. In addition, the emerging trend of the unmanned shop concept, especially in developing countries, is also stimulating the growth of the image recognition market.

In response to this, consumers in the entire entertainment industry have changed their preferences for contact less transactions, such as museums, movie theaters, stadiums and theme parks, which have created positive prospects for the market.

A shift in consumer preference for contact less transactions across the entertainment sector, such as in museums, cinemas, stadiums and theme parks, has created a positive outlook for the market.In addition, self-checkout systems offer enhanced security features, intuitive consumer interfaces, cashless transaction facilities and multi-item scanning facilities, thereby increasing the demand for them in convenience/department shops, hypermarkets and supermarkets.

Also, various technological advancements, such as the integration of radio frequency identification (RFID) and near field communication (NFC) systems in self-checkout machines, are inducing factors for the growth of new retail business models. RFID readers can automatically read the tags on products and add them to the shopping cart for purchase. There are other factors, including the increased demand for personalised and assisted shopping experiences and the use of artificial intelligence (AI) and machine learning systems, which are expected to further drive the market. Apart from retail, applications in other industries such as healthcare, manufacturing, warehousing and logistics, security systems, and public transportation are also spurring image recognition to go global.

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Guangzhou Jingxin Technology Co., Ltd. specializes in manufacturing bar code scanners and barcode scanning modules. For more details, please contact us.

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