CHICAGO, Sept. 11, 2020 /PRNewswire/ -- According to
market research report on "Image Recognition in CPG
Market by Component (Hardware, Solutions & Services),
Application (Inventory Analysis, Product and Shelf Monitoring
Analysis & Gauging Emotions), Deployment Mode, End User (Online
& Offline), and Region - Global Forecast to 2025",
published by MarketsandMarkets™, the Image Recognition in CPG
Market size is estimated to grow from USD
1.4 billion in 2020 to USD 3.7
billion by 2025, at a Compound Annual Growth Rate (CAGR) of
21.7 % from 2020 to 2025. Increased in the need for efficient and
profitable retail execution processes with adherence to compliance
standards and technological advancements to boost the adoption of
Image Recognition in CPG Market across the globe during the
forecast period.
Browse in-depth TOC on "Image
Recognition in CPG Market"
231 –
Tables
42 – Figures
209 –
Pages
Download PDF
Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=162002756
Based on component, the hardware segment to account for the
largest market size during the forecast period
This segment includes image sensors integrated with cameras.
Hardware is an integral part of image recognition technology in the
CPG market. Many companies like IBM and Qualcomm provide their
company made sensors which help detect products, shelf life and
even trends. For instance, Qualcomm offers the Vision Intelligence
400 platform that is built with powerful image processing and ML
for smart camera products; it performs face detection, face
recognition, product classification, and license plate
recognition.
Based on application, the product and shelf monitoring
analysis segment to account for the largest market size during the
forecast period
The pandemic situation has forced people to concentrate more on
online e-commerce businesses. Many leading retailers and CPG
companies have adopted AI and image recognition technology for
shelf monitoring and product identification. Computer vision and
image recognition are used for product discovery, product
recommendations and trend analysis.
Speak to
Analyst:
https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=162002756
Among regions, North America
to account for the highest market share during the forecast
period
North America is a significant
contributor to the global Image Recognition in CPG Market. The US
and Canada are the major
contributors to the North American market. Canada and the US are increasingly witnessing
the merging of artificial intelligence with image recognition and
augmented reality; this is expected to drive market growth in the
region. The United States is home
to major AI-based image recognition companies, leading to
increasing adoption of the technology across the region. As a
result, many companies are making their move towards the US market,
intending to develop an assemblage of AI capabilities.
The major Image Recognition in CPG Market vendors
include IBM (US), Google (US), Qualcomm (US), Microsoft (US),
AWS (US), Trax (Singapore), Catchoom (Spain), Slyce (US), LTU Tech (France), Imagga (Bulgaria), Vispera (Turkey), Blippar (UK), Ricoh innovations (US),
Clarifai (US), Deepomatic (France), Wikitude (Austria), Huawei
(China), Honeywell (US), Toshiba (Japan), Oracle (US).
Browse Adjacent Markets: Software and Services
Market Research Reports & Consulting
Related Reports:
Image Recognition in Retail Market by Technology
(Code Recognition, Digital Image Processing) Component (Software
and Services), Application (Visual Product Search, Security
Surveillance), Deployment Type, and Region - Global Forecast to
2025
https://www.marketsandmarkets.com/Market-Reports/image-recognition-in-retail-market-181903303.html
Artificial Intelligence in Retail Market by Type
(Online, Offline), Technology (Machine Learning and Deep Learning,
NLP), Solution, Service (Professional, Managed), Deployment Mode
(Cloud, On-Premises), Application, Region - Global Forecast to
2022
https://www.marketsandmarkets.com/Market-Reports/artificial-intelligence-ai-retail-market-36255973.html
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000
high growth niche opportunities/threats which will impact 70% to
80% of worldwide companies' revenues. Currently servicing 7500
customers worldwide including 80% of global Fortune 1000 companies
as clients. Almost 75,000 top officers across eight industries
worldwide approach MarketsandMarkets™ for their painpoints around
revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are
tracking global high growth markets following the "Growth
Engagement Model – GEM". The GEM aims at proactive collaboration
with the clients to identify new opportunities, identify most
important customers, write "Attack, avoid and defend" strategies,
identify sources of incremental revenues for both the company and
its competitors. MarketsandMarkets™ now coming up with 1,500
MicroQuadrants (Positioning top players across leaders, emerging
companies, innovators, strategic players) annually in high growth
emerging segments. MarketsandMarkets™ is determined to benefit more
than 10,000 companies this year for their revenue planning and help
them take their innovations/disruptions early to the market by
providing them research ahead of the curve.
MarketsandMarkets' flagship competitive intelligence and market
research platform, "Knowledge Store" connects over 200,000 markets
and entire value chains for deeper understanding of the unmet
insights along with market sizing and forecasts of niche
markets.
Contact:
Mr. Aashish
Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/
Research
Insight: https://www.marketsandmarkets.com/ResearchInsight/image-recognition-in-cpg-market.asp
Content Source:
https://www.marketsandmarkets.com/PressReleases/image-recognition-in-cpg.asp
Logo:
https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg