Image Recognition & How Industries Can Use This Technology?
You would agree that the speed with which technological advancements occurs is a lot faster than it was a few years back. It unlocks new growth potential for many of our industries. Today computers can see and understand objects as humans do. In 2021, image recognition is not just a concept of science fiction. It is an application that changed the way we see the world. The image recognition market is growing at a brisk pace. It is likely to reach USD 58920 million by 2026 at a CAGR of 15.6% during the estimated period 2021-2026.
Factors That Propel the Growth of the Image Recognition Market
- Extensive usage of smartphones with the applications for authentication, object identification and augmented reality (using image recognition technology)
- Rising demand for image recognition in various end-user sectors like banking, smart cities, retail, and automobiles.
What is Image Recognition?
Image recognition is a technology that identifies people, places, objects, buildings, vehicles and many other variables in the images and drawing conclusions from them by analysing them. It utilises artificial intelligence and image processing algorithms, to analyse and understand a single image or a series of images.
A human eye can naturally tell the difference between different pictures but a digital system has to be trained to do that. A digital image is made up of various elements called pixels. Pixels carry various quantities of measurable numeric data for their intensity or grey level. A computer will see an image in its numerical values (of the pixels) and to recognise the image, the computer will identify this numerical data.
North America and the Asia Pacific are the extensive users of this technology for activities like surveillance and security systems, data verification, face recognition, tracking, and data analysis. This technology can obtain important data and insights from various images and can catalyse its applications and possibilities of use across industries. Image recognition also enables the user experience over photo organization apps by offering them various search and detection functions.
So, How Does Image Recognition Help Various Industries?
The principal applications of this technology are face recognition, security and surveillance, visual geolocation, object identification, gesture recognition, code verification, industrial automation, image interpretation in medical and driver assistance. These applications are helping various fields in countless ways.
Image search and advertising are the most utilised applications of image recognition in this field. This technology can enhance an eStore with facilities like customized searches, consumer analytics, social media and conversational commerce. Using the data, they get through image recognition, organisations can gain valuable insights for promotional campaigns and marketing strategies. Capable of getting users’ preferences, this data can majorly and positively impact your ROI.
Apart from traditional automobile companies, many tech giants are also working on self-driving cars. The idea behind this concept is to reduce the rate of road accidents and strict obedience to traffic rules. In 2019, American multinational technology conglomerate Cisco and the most popular automobile manufacturer Hyundai collaborated and created a new platform that provides highly secure access to all the data in autonomous cars.
Another field that reaps enormous benefits is social media. Facebook uses it at its best. Open the app and its image recognition will identify your friends, family members, colleagues, know their names and give you suggestions to tag them while you upload a photo. The search for a person, event, or image also becomes easier and effective using this technology.
Security and Surveillance
This sector is the one that requires image recognition the most. Corporate giants and their security departments utilise facial recognition to ensure strict security and identify any kind of misconduct or crime. Countless images get scanned and added to the neural system. The system investigates and matches the images with suspects.
The medical field is using image recognition to improve image analysis and medical analysis. It includes examining body parts, recognising diseases, and forecasting health problems. Being highly specific, it provides analysis better than a medical professional.
You would have surely heard of Microsoft Kinect Video Game. Having sold more than 10 million Kinect sensor systems in 2011, it holds the Guinness World Record for the fastest-selling consumer electronics device ever to this date. Based on, computer vision, it is more of a motion capturing tool that tracks human body movements in real-time. (another example- the joystick of PlayStation that identifies players’ moves and tracks them).
Along with the sectors mentioned above, military services and forest management also are benefiting from this technology. It helps to detect unusual movements in the border areas. Plus, the automated decision-making abilities help prevent enemy intrusions. Unmanned Aerial Vehicles (UAVs) connected with image recognition abilities can monitor the forest and foretell changes in advance.
To have a team specifically for image recognition is challenging as well as expensive for any company. That’s when we can help you. Our tailored image recognition services will integrate smoothly with your business plans and aligning suitably with your business goals. For a free consultation, connect with us at firstname.lastname@example.org