A market research report, posted on February 27, 2017, forecasts that the image recognition market will grow to nearly $40 billion worldwide by 2021. The market, which includes augmented reality applications, hardware, and technology, generated an estimated $15.95 billion in 2016. The report estimates the market to grow by a compound annual growth rate of 19.5% over the next five years.
“The market is primarily driven by the rising demand for security applications and products enabled with image recognition functions,” said MarketsandMarkets, the company who authored the report, in a press… more
Source: Image Recognition Expected to Generate $40 Billion by 2021
