Image Recognition means identifying a specific image and placing it in a predetermined category. It uses computer algorithms for digital image processing and thus helps in processing videos and removing blur images. The technology further allows images to convert into two or more defined dimensions, which categorise the digital image processing as multidimensional systems.
Image recognition in retail includes technologies which help enhance in-store experience of customers. The use of high bandwidth data services in retail and BFSI sector can be attributed to the growth of the image recognition market. Android devices with cameras are attracting vendors to invest in the market. Increasing demand for security in products and applications is also influencing the growth of the image recognition market.
Large enterprises in different sectors, such as retail, automotive, healthcare, and defence, are increasingly adopting image recognition technology. Several other fields, such as self-driving vehicles, automated image organisation of visual websites, and face identification on social networking websites use image recognition technology powered by machine learning (ML).
Government agencies such as law enforcement agencies are also using facial recognition technology for safety and security purposes. Airports also use face remembrance technology at security checkpoints for security purposes. Recent advancements in artificial intelligence (AI) and machine learning (ML) have contributed greatly to the growth of Image Recognition and Object Detection in retail.
Certain factors may create hindrances in the growth of image recognition in the retail market, such as the high cost involved in making image recognition systems, lack of technical skills, etc. Thus, companies which lack resources are unable to adopt this technology even if they are interested in image recognition.
On the other hand, a large number of social media applications are available on the internet, and a good amount of the population daily uploads a billion images per day on social media platforms such as Facebook, WhatsApp, Snapchat, Instagram, etc. which helps in increasing the adoption of image recognition and will help drive growth of Global Image Recognition in retail markets.
