Artificial intelligence in Agriculture Market Size Worth $2.9 Billion By 2025

The global artificial intelligence in agriculture market size is expected to reach USD 2.9 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 25.4% from 2019 to 2025. Artificial intelligence solutions in the agricultural industry are emerging in various forms, such as soil and crop monitoring, agricultural robots, and predictive analytics. Farmers and agribusiness corporations are increasingly using soil sampling and artificial intelligence -enabled sensors for data gathering for better analysis and processing. The availability of these processed data has paved the way for the deployment of artificial intelligence in agriculture and farming.

Rapidly increasing global population is one of the key factors driving the need for artificial intelligence in agriculture. The global population is expected to reach 9.8 billion by 2050, according to the UN. Subsequently, food production must increase significantly as well. Artificial intelligence enables efficient and potential farming techniques for increased crop productivity and yield. For instance, the artificial intelligence Sowing App developed by Microsoft sends sowing advisories on the optimal date for crop sowing to farmers. It enhances the farmers’ efficiency in terms of planting and forecasting weather conditions.

The Asia Pacific market is expected to witness substantial growth over the forecast period, owing to increasing adoption of artificial intelligence -enabled solutions and services by agriculture-technology-based companies in emerging economies. Emerging economies such as India and China have started implementing artificial intelligence technologies such as machine learning and computer vision to increase crop yield. Favorable regulations and standards in these countries encourage the implementation of modern techniques in farming and agriculture. For instance, in July 2019, the government of India began the use of artificial intelligence for yield estimation and crop cutting to cut down the cost of farming and increase productivity.

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https://www.grandviewresearch.com/industry-analysis/artificial-intelligence-in-agriculture-market

Further key findings from the report suggest:

Surge in the deployment of predictive analytics solutions in the farming and agriculture industry has created massive potential for artificial intelligence solutions in the agricultural industry
Several benefits of artificial intelligence, such as prevention of cost overruns, weather forecasting, remote monitoring, weed detection, and irrigation management encourages the implementation of artificial intelligence in agriculture for increased productivity
Market players are focusing on providing advanced artificial intelligence and big data in the agricultural industry, which offers advanced features such as crop scouting, field mapping, and yield monitoring
Key market players are considering partnerships and acquisitions of startups providing innovative products to expand their range of artificial intelligence solutions for the agricultural industry
Key competitors in the market are IBM Corporation; Microsoft; Deere & Company; AgEagle Aerial Systems Inc.; The Climate Corporation; Granular, Inc.; Descartes Labs, Inc.; Prospera Technologies; Taranis; aWhere Inc.; GAMAYA; ec2ce; PrecisionHawk; VineView; and Tule Technologies Inc.; among others.

Medical Imaging Workstations Market Size Worth $7.1 Billion By 2026

The global medical imaging workstations market size is expected to reach USD 7.1 billion by 2026, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 7.2% during the forecast period. Increasing burden of chronic diseases and high demand for effective diagnostic tools are the factors driving the growth. Additionally, frequent new product launches are expected to contribute to the expansion.

Introduction of advanced display modalities are expected to boost the replacement of traditional workstations. Rising number of standalone imaging facilities and ambulatory imaging centers are expected to play an important role in driving the market growth.

Introduction of predictive analytics and artificial intelligence in radiology is expected to help healthcare professional to diagnose accurately and decide effective treatment plan. Increasing awareness and introduction of favorable reimbursement policies are the factors expected to ensure swift growth of Medical Imaging Workstations Market during the forecast period.

Rise in strategic initiatives such as mergers and acquisitions by the major players to maintain the market share is propelling the introduction of advanced systems. Moreover, development of new medical facilities and evolving preference for digital platforms is anticipated to boost growth of the market in the forthcoming years.

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https://www.grandviewresearch.com/industry-analysis/medical-imaging-workstations-market

Further key findings from the report suggest:

Thin client workstation segment is anticipated to register significant growth during the forecast period owing to the factors such as increasing need for early and effective patient diagnosis and high adoption of remote patient monitoring systems
Advanced imaging segment is anticipated to hold maximum market share in the forthcoming years due to growing acceptance of advanced imaging modalities such as 3D and 4D imaging
Based on component visualization software is also predicted to hold larger market share during forecast period owing to the development of customize software, which helps in summarizing the complex data instantly
North America led the market in 2018, attributed to the presence of a large patient pool, imaging centers, and high adoption of technologically advanced products
Asia Pacific is anticipated to witness considerable growth in the forthcoming years due to the improving healthcare facilities and increasing adoption of advance imaging workstations
Major players in the Medical Imaging Workstations Market are focusing on increasing access towards the image captured through medical imaging systems, by developing cloud-based system

Digital Forensics Market Worth $4.24 Billion By 2026

The global digital forensics market size is expected to reach USD 4.24 billion by 2026, exhibiting a CAGR of 12.3% during the forecast period, according to a new report by Grand View Research, Inc. Rising internet penetration, advancements in computing technology, and instances of cyberattacks are some of the key growth driving factors. Additionally, increasing demand for sophisticated cybersecurity tools to detect and investigate cyberattacks and financial frauds among large as well as small and medium enterprises is expected to drive the market growth.

Digital forensic tools assist in lost data analysis, reconstruction, and evidence collection from digital devices. Enterprises across the globe focus on adopting these tools to identify and avoid cyberattacks. The enterprises have to follow several regulations and compliances regarding consumer data privacy, such as General Data Protection Regulation (GDPR), California Consumer Privacy Act of 2018 (CCPA), and Personal Information Protection and Electronic Documents Act (PIPEDA), among others. This is expected to encourage the adoption of digital forensic solutions and services.

The foremost application of digital forensics is found in private and criminal investigation. Factors, such as rising internet penetration, usage of electronic devices, and smart devices, among others have led to a surge in cyberattacks across the globe. Rising intensity of cyberattacks is anticipated to further propel the demand for digital forensic tools over the forecast period. Digital forensics tools are increasingly being used to resolve issues related to cyber threat in the enterprises. The tools aid in investigating data stored in digital devices, examine suspect data, and then use it as a digital evidence in the court.

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https://www.grandviewresearch.com/industry-analysis/digital-forensics-market

Further key findings from the report suggest:

The service segment is expected to expand at the highest CAGR of 13.1% over the forecast period, as the services provide broad reporting capabilities for authenticating the regulatory compliance with security policies for users
The cloud forensics segment is anticipated to expand at the fastest CAGR of 13.3% over the forecast period, attributed to rising adoption of cloud technologies in enterprises globally, which have led to a rise in number of cyberattacks
Review and reporting segment is expected to register highest growth over the forecast period as it provides effective evidence analysis and also helps jurists make fact-based decisions
In BFSI sector, digital forensics solutions and services are being widely adopted owing to increasing number of financial frauds and rising demand to investigate these frauds globally
North America dominated the market in 2018 and is expected to maintain its dominance over the forecast period, attributed to presence of large number of digital forensics solution and services providers and robust infrastructure for adopting these solution and services
Key players in the digital forensics market include Guidance Software Inc.; LogRhythm Inc.; Accessdata; Paraben Corporation; FireEye Inc.; Digital Detective Group Limited; MSAB; and Oxygen Forensics Inc.

Advanced Process Control Market Size Worth $24.9 Billion By 2025

The global advanced process control market size is expected to reach USD 24.9 billion by 2025, registering a CAGR of 9.2% over the forecast period, according to a new report by Grand View Research, Inc. The market is expected to witness considerable growth across the globe owing to the growing emphasis of several end use industries on the improvement and optimization of the production process. Advanced process control solutions enable organizations to significantly improve the accuracy of product testing, enhance quality, and reduce error.

As companies seek ways of improving the quality of their products and reduce the cost of operations to be able to maintain their competitive edge, the demand for advanced process control systems is likely to continue to rise in the near future. Furthermore, the increasing adoption of advanced process control systems across industries such as nuclear power, chemical, and semiconductor is encouraging APC companies to invest in research and development activities to develop systems with enhanced capabilities. These factors are anticipated to further propel the growth of the global market over the forecast period.

APC is a software-based closed-loop feedback-based process control system that helps increase productivity, minimize waste, and improve quality assurance under real-world operating conditions. By enabling the easy deployment of technologies such as model predictive control and advanced computing systems in the processing and manufacturing sectors, the use of APCs has enabled companies to increase the affordability of products. Moreover, APC systems also aid in lead time reduction to decrease the operational cost associated with it.

Additionally, APCs have a significant demand in the oil and gas sector and are used for optimization and control of a variety of processes. The steady expansion of the chemical industry is also anticipated to drive the adoption of APCs over the forecast period to stabilize industrial operations and optimize plant performance by minimizing the fluctuations of key process variables. Increasing competition has compelled process industries to adopt advanced process control systems to bring about an improvement in economic performance to maintain their competitive edge. However, the need for high initial investments could restrain the growth of the APC market to a certain extent over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/advanced-process-control-apc-market

Further key findings from the report suggest:

In terms of product type, the hardware segment is anticipated to witness high CAGR over the forecast period. This can be attributed to the increasing adoption and deployment of advanced process control systems in various verticals such as nuclear power plants, petrochemicals, oil and gas upstream, downstream, and processing operations
Of the key end use segments covered in the report, the energy and power segment is expected to witness significant growth during the forecast period. This can be attributed to the significant adoption of advanced process control systems in nuclear power plants and other alternative sources of power generation
The Asia Pacific APC market is anticipated to witness high CAGR over the forecast period owing to robust industrialization in countries such as China and India and the higher adoption rate of advanced process control systems in several industries
The APC market is oligopolistic and is dominated by companies such as Schneider Electric, Siemens, Rudolph Technologies, Aspen Technology, Inc., Emerson Electric Co., ABB, Yokogawa Electric Corporation, Panasonic Corporation, Rockwell Automation, Inc., and Honeywell International Inc. Collectively, these companies account for nearly 80% of the market
Leading Advanced Process Control (APC) market players are in the process of acquiring small startups for technological advantage, provision of better services, and regional expansion.

5G Infrastructure Market Worth $68.8 Billion By 2027

The global 5G Infrastructure market size is expected to reach USD 68.8 billion by 2027, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 59.6% from 2020 to 2027. The significant investments by communication service providers to deploy 5G infrastructure across the globe to provide improved data services are estimated to drive the market. Additionally, robust innovation in next-generation 5G network equipment and deployment module will help in bringing down the overall deployment costs for service providers. As a result, it is estimated to boost the deployment of 5G infrastructure over the forecast period.

Significantly growing demand for high bandwidth connectivity for several use cases, such as accessing ultra-high definition (UHD) videos, cloud-based AR/VR gaming, and HD video meetings, is expected to boost the market growth during the forecast period. Moreover, a wide range of industries including manufacturing, oil and gas, mining, and energy and utility are investing a massive amount in deploying 5G networks. The 5G network helps industrial facilities to enhance their overall productivity and operational efficiency. Thus, the growing need for high bandwidth capacity to establish unified connectivity to millions of Industrial IoT (IIoT) devices is expected to foster market growth from 2020 to 2027.

With the emergence of 5G technology, the transportation and logistics industry is shifting towards a significant transformation in order to build an autonomous ecosystem. Moreover, the deployment of a 5G network will help in delivering seamless data speed for various transport applications, including ships and ports, Vehicle-to-Everything (V2X), and drone connectivity. Moreover, a notable demand for high-speed bandwidth capacity for emergency healthcare applications, such as remote patient surgeries, is estimated to strengthen the market growth from 2020 to 2027. Besides, robust demand for 5G data services in rapidly building several smart cities for energy management and cloud storage applications is further anticipated to expand the market growth.

The ongoing pandemic of COVID-19 has shown an adverse impact on the market for the 5G infrastructure. Several telecom equipment manufacturers across the globe have temporarily halted the production and export of 5G equipment. Additionally, federal governments across key countries such as the U.S., France, the U.K., and Australia have temporarily postponed the 5G spectrum auctions in their countries. Further, the escalating trade war between the two largest economies, coupled with the rising security concerns, is estimated to hinder the market growth.

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https://www.grandviewresearch.com/industry-analysis/5g-infrastructure-market

Further key findings from the study suggest:

Based on component, in the hardware segment, RAN held the largest share of 46.3% in 2019 owing to a significant rise in investments in deploying 5G cloud or centralized RAN across key countries, such as the U.S., the U.K., Japan, and China
With the growing need to provide unified connectivity to several industrial sensors and collaborative robots, the industrial vertical segment is anticipated to witness considerable growth over the forecast period
Robust investments in installing a 5G standalone network to deliver ultra-reliable low latency connectivity for connected vehicle applications are estimated to surge the growth of the standalone network architecture segment over the forecast period
By spectrum, the sub-6 GHz segment held the dominant share of 94.7% in 2019, which is attributed to the high focus on releasing sub-6 GHz frequency bands by federal governments initially across key countries to deliver high-speed data services
Leading players such as Telefonaktiebolaget LM Ericsson and Nokia Corporation are highly focused on establishing partnerships with leading service providers to enhance their geographical presence and overall market share

3D Printing Market Worth $35.38 Billion By 2027

The global 3D printing market size is estimated to reach USD 35.38 billion by 2027, according to the new report by Grand View Research, Inc. It is expected to witness a CAGR of 14.6% over the forecast period. 3D Printing (3DP) is also referred to as Additive Manufacturing (AM), as it involves the successive addition of layers of materials in various 2D shapes using an additive process. These layered 2D shapes build upon one another to form a three-dimensional object. The process is different from the subtractive method of production, which begins with a block of material and the unnecessary material is ground out to obtain the desired object.

3D printing is widely adopted in the industrial sector owing to the growing need for enhanced product manufacturing and a shorter time to market. The industrial vertical happens to be the most significant adopter of the 3DP technology and eventually leading to the highest market share of 3D printers for industrial applications over the forecast period. Additive manufacturing is anticipated to evolve with rising R&D and technological advancements.

3D printing continues to gain popularity among hobbyists and innovators. While individuals are using the technology for domestic and personal purposes, universities and educational institutes are using 3DP for conducting technical training. The market is subject to witness a considerable economical appearance rather than being just a labor-intensive industrial manufacturing technique. Particularly in developing economies, such as Brazil, South Africa, and India; machining shops have managed to adopt alternative business models by installing 3D printers and offer related services, such as 3DP materials, software, filaments, and 3D modeling.

Based on applications, the 3D printing market has been segmented further into prototyping, tooling, and functional parts. Automotive, healthcare, and aerospace and defense verticals are among the leading adopters of 3D printing technology. Incumbents of these verticals have an emphasis on accuracy, enhanced product designing, reliability, shorter time to market, and economical production processes. Given that the additive manufacturing possess can offer all these benefits, the adoption of three-dimensional printers by the automotive, healthcare, and aerospace and defense verticals is expected to gain traction over the forecast period.

The 3D printing and related technologies are evolving continuously in line with the intensive R&D activities being undertaken and the aggressive investments being made by the private sector as well as the public sector. Government funding and encouraging initiatives being undertaken in developed economies are prompting manufacturers to pursue improvements in technology and the adoption of new technologies.

North America accounted for the largest market share of more than 35% in 2019 as a result of the extensive adoption of 3D printers for 3D designing, modeling, and manufacturing in various industries. On the other hand, Asia Pacific has emerged as a manufacturing hub owing to an expanding consumer base as well as the continued rise in foreign investments. Hence, the regional market is expected to witness remarkable growth over the forecast period.

3D printing technology happens to be capital-intensive technology. At the same time, manufacturers are holding to their misconceptions about prototyping rather than realizing the advantages associated with 3D printing. Moreover, the market lacks the standard process controls and a skilled workforce required for 3D printing. These are some of the factors expected to restrain market growth. However, government initiatives aimed at increasing awareness and promoting the benefits of adopting 3D printers are expected to help counter the market restraints.

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https://www.grandviewresearch.com/industry-analysis/3d-printing-industry-analysis

Further key findings from the report suggest:

3D printing technology is gaining traction owing to the ability of the technology to offer accurate and rapid prototyping and optimize the time to market
Increasing adoption of 3D printers in healthcare, automotive, and consumer electronics verticals is likely to drive the market growth significantly
Demand for desktop 3D printers is expected to increase over the forecast period, as 3D printing is gaining popularity among hobbyists for domestic, household, and personal usage as well as in the education sector for training purposes
The prototyping segment dominated the market in 2019 and is expected to expand its market share to more than 50% by 2027.
The polymer segment contributed to almost half of the entire industry share. However, the metal segment is expected to dominate the market in the next seven years. This is attributed to the increasing demand for metal 3D printing from industrial verticals such as automotive and aerospace & defense
The desktop 3D printing segment is expected to adopt the 3DP technique aggressively over the forecast period. It has been segmented further into educational purpose, fashion and jewelry, objects, dental, food, and others
Asia Pacific 3D printing market, which is emerging as a manufacturing hub for several industry verticals, is anticipated to grow significantly as the continued urbanization triggers the need for infrastructure and prompts the automotive, consumer electronics, aerospace and defense, and healthcare verticals to adopt 3DP, particularly in countries, including China, Japan, and South Korea
The prominent players in the market include Stratasys Ltd.; 3D Systems, Inc.; 3D Ceram; GE Additive; HP Inc.; Tiertime; EnvisionTec, Inc.; and Dassault Systemes

Indoor Farming Market Size Worth $50.3 Billion By 2025

The global indoor farming market size is estimated to reach USD 50.3 billion by 2025, exhibiting a CAGR of 9.19% from 2019 to 2025, according to the new report conducted by Grand View Research, Inc. The increasing demand for food owing to the rising population is expected to drive the growth. Factors such as declining water supply, urbanization, and climate change have contributed to the loss of arable land. This in turn is driving demand for indoor farms to produce food. In addition, challenges, such as rising global temperature and extreme weather conditions, act as a barrier in the traditional farming technique. The European Environment Agency (EEA) has carried out several initiatives to build vertical farms to overcome these challenges and produce food in an environment-friendly way.

Indoor farming increases the crop yield and reduces farming impact on the environment by reducing the distance traveled in the supply chain. It reduces need for the land space required to grow plants compared to traditional farming methods by using growing shelves mounted vertically. Rising consumer awareness regarding consumption of healthy and fresh food is anticipated to positively influence the market for indoor farming over the forecast period. Furthermore, the use of technology, such as LED indoor farming to create nature-like conditions will help farmers meet the expected demand for food supply in near future.

Europe dominated the indoor farming market in 2018 and is anticipated to remain dominant over the coming years, owing to the continuous adoption of advanced technologies such as LED lighting, controlled environment agriculture. Asia Pacific is expected to exhibit the fastest CAGR from 2019 to 2025, owing to the increasing indoor farms in countries such as China and Japan. Increasing adoption of greenhouses and vertical farms is projected to bode well for the regional growth. In addition, the rising demand for pesticide-free, fresh vegetables and fruits is expected to fuel the regional market growth.

The key players operating in the market include Netafim (Israel), Richel Group (France), PRIVA (Netherlands), and Argus Control System Limited (Canada). Companies across the globe, such as Signify Holding and Osram GmbH, are working on developing innovative lighting systems for indoor farming.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/indoor-farming-market

Further key findings from the study suggest:

The greenhouses segment dominated the market in terms of revenue in 2018 as these facilities produce higher yields. Greenhouses offer a stable and highly controlled environment for the cultivation of flowers, vegetables, and fruits
The fruits, vegetables, and herbs segment is estimated to register the fastest CAGR over the forecast period, owing to the increasing food consumption along with growing consumer awareness regarding the importance of healthy eating, especially in regions such as Europe and Asia Pacific
The climate control systems segment is projected to expand at the highest CAGR during the forecast period, as the crop development can be controlled by adjusting and monitoring the concentration of minerals
Some of the key players operating in the indoor farming market include LumiGrow (U.S.), Illumitex (U.S.), Hydrodynamics International (U.S.), and Agrilution (Germany)

Smart Ticketing Market Size Worth $33.7 Billion By 2026

The global smart ticketing market size is expected to reach USD 33.7 billion by 2026, registering a CAGR of 14.9% from 2019 to 2026, according to a new report by Grand View Research, Inc. Increase in demand for smart ticketing solutions in the travel and tourism industry owing to its ease of use and convenience, and growing reliance on online transactions are expected to drive the market over the forecast period. In addition, upsurge in intelligent transportation systems across the globe is further fueling the market growth.

Smart transit systems allow passengers affordable access to rapid transit systems, also known as metro or subway. These systems store a ticket electronically on a microchip, which is embedded onto a smart card. This allows passengers to load or credit it in advance for their travel, reducing the time spent in queues and speeding up the boarding process. Public transportation authorities across the globe are emphasizing on implementing these systems to reduce traffic in congested city areas and to deliver solutions that are environment-friendly. Numerous public transportation agencies are promoting the use of these solutions as they are easy to use, reliable, and more secure as compared to traditional magnetic stripe cards or tickets. These solutions are also highly durable and have a longer life span than their traditional paper counterparts.

Continuous innovations take place in this field with the view to improving customer experience. For instance, the South Western Rail in U.K. launched Tap2Go, which removes the need for customers to buy a ticket before their journey. Passengers touch their card at the gates and validators at the start and end of their journey. The system then calculates the best fare and the payment is deducted from their account the day after their travel. It is also linked to PayPal to make transactions easier.

These solutions offer high operational efficiency and increased security against fraud, which, in turn, is expected to contribute to the market growth over the forecast period. Moreover, these solutions require low maintenance compared to systems that use magnetic stripe technology. Furthermore, these smart solutions allow quick payment transactions and offer passengers with flexible travel options such as part-time season passes or carnets. This is subsequently expected to drive the demand for these solutions over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/smart-ticketing-market

Further key findings from the report suggest:

The software component segment is expected to witness significant growth over the forecast period owing to increased demand for payment gateways and other connected systems such as cards through servers and smartphones
An e-ticket offers various advantages such as flexibility, security, and convenience for both transport agencies and travelers, which would encourage them to adopt these solutions
Smart card systems enable transport service providers to reduce cash flows and implement flexible tariffs. These systems provide the added benefit of convenience as the fare payment can easily be made at the customer’s point of entry into the transit system; for example, at the subway gate or before boarding a bus. As a result, smart card systems are widely adopted by transport service providers across the globe
The sports and entertainment segment is expected to register the highest growth rate over the forecast period. Increase in adoption of verified e-tickets procured from authentic apps on mobile devices helps lessen fraudulent activities and resale of tickets online or outside an event venue at inflated prices
The growth of the Europe market is attributed to the thriving tourism industry, continuous innovations of these systems and their adoption in urban areas, and simplified technology ecosystem in the region. In U.K. for instance, the National Rail has incorporated a range of technologies such as platform and ticket validators at their train stations that enable the use of these systems
Smart ticketing market key players include CPI Card Group Inc.; Cubic Corporation; Confidex Ltd.; Gemalto NV; Giesecke & Devrient GmbH; Infineon Technologies AG; and NXP Semiconductors.

Image Recognition Market Worth $109.4 Billion By 2027

The global image recognition market size is expected to reach USD 109.4 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 18.8% from 2020 to 2027. Image processing and recognition have evolved with numerous powerful applications, such as security and surveillance, and medical imaging that have created a great value from a business perspective. Functions of figure identification, such as facial or object recognition, visual geolocation, barcode reading, and automated driver assistance, among other industrial automation-related functions, have demonstrated the versatility of this technology. When combined with AI, this technology has begun to create valuable growth opportunities in several verticals, such as gaming, social networking, and e-commerce. For instance, Twitter and Facebook, two major platforms in the world of social networking, have benefited from the technology in terms of audience engagement as they have created a more connected experience by encouraging users to share images and tag their friends.

The advent of digital cameras, particularly cameras built into smartphones, has led to an exponential growth in the volume of digital content in the form of images and videos. A vast amount of visual and digital data is being captured and shared through several applications, websites, social networks, and other digital channels. Several businesses have leveraged this online content to deliver better and smarter services to their customers, with the use of digital image processing. For instance, in October 2019, SnapPay Inc., a U.S. based payment platform provider, has launched facial recognition payment technology in the North America region. By using this thechnology in its payment solution, the company has aimed at allowing its customers a new level of convenience for payments at retail outlets.

However, data cleaning and hardware processing power remain as the two significant challenges involved in building areliable technology. Also, considering the time, complexity, and cost associated with software development for image identification, many companies may not have the resources who can produce acceptable and accurate results. Therefore, several companies are taking strategic initiatives to expand their business with the help of image processing and recognizing techniques. For instance, in July 2019, Star Alliance, a global airline, announced a partnership with NEC Corporation to develop a biometric data-based identification platform for the pass-through areas at the airports, such as boarding gates and check-in kiosks. This AI-based platform and biometric passport would help the passengers to get through passport control without the need to show documents to the border officials.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/image-recognition-market

Further key findings from the report suggest:

Automated image organization offered by cloud-based applications and telecom companies is one of the most popular uses of the technology that has improved user experience and drawn the customers’ attraction toward this technology
Several benefits, such as better security and automation of identification, are the factors encouraging the implementation of facial recognition at major public spaces or events
Advent of large-scale cloud-hosted AI and machine learning platforms offered by tech giants, has led to the development of image processing software with multiple functions such as facial and object recognition, and landmark detection
Growing integration of digital image processing and mobile computing platforms in various applications such as digital shopping and document verification are propelling the image recognition market growth
Key players in the market are Attrasoft, Inc.; Google; Catchroom; Hitachi, Ltd.; Honeywell International Inc; LTUTech; NEC Corporation; Qualcomm Technologies, Inc.; Slyce Acquisition Inc.; and Wikitude GmbH; among others.

Video Analytics Market Size Worth $9.4 Billion By 2025

The global video analytics market size is expected to reach USD 9.4 billion by 2025, according to a new study by Grand View Research, Inc., registering a 22.8% CAGR over the forecast period. Increasing demand for intelligent security surveillance systems, which can be used for estimating key trends and deriving patterns, is the key factor driving the market growth. In addition, increasing concerns over public safety and the use of video analytics in criminal investigations are positively impacting demand for video analytics solutions.

Apart from surveillance, video analytics solutions have also found increasing applications in the retail sector for estimating average footfall, gender bifurcation, display effectiveness, and attractiveness of shelf space. Furthermore, superstores and mega marts have started implementing these systems to gain insight into consumer behavior.

The use of advanced algorithm technology in video analytics enables the examination of captured videos frame by frame, irrespective of light exposure, thereby making video analytics a reliable and efficient choice for ensuring security. Furthermore, industries such as transportation, retail, and healthcare are witnessing a significant increase in the adoption of video analytics, owing to rising application of intrusion detection, license plate recognition, crowd management, and congestion detection in these industries.

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https://www.grandviewresearch.com/industry-analysis/video-analytics-market

Further key findings from the study suggest:

Facial recognition is expected to emerge as the fastest-growing application segment with a CAGR of 25.9% from 2017 to 2025. This can be attributed to the widening scope of facial recognition solutions for surveillance purposes at malls, events, airports, and public transport, among others
By type, the services segment is projected to register the highest CAGR of 24.0% for the next eight years. This can be attributed to increasing demand for and installation of video analytics solutions, which are, in turn, propelling demand for related managed and professional services
The cloud segment is anticipated to emerge as the most preferred deployment option for video analytics solutions as it offers flexibility and convenience, allows remote access, and provides easy maintenance
North America accounted for the largest share in 2016 and is driven by the presence of prominent market players who consistently work on developing new and innovative technologies in video analytics
The retail end-use segment is anticipated to register the highest CAGR of 25.6% over the forecast period. This may be attributed to the use of video analytics in applications such as people counting, display and promotion effectiveness, product placement and store layout, and customer preference pattern analysis
Asia Pacific is expected to experience the highest growth from 2017 to 2025, driven by emerging economies such as India and China. These nations are expected to augment their expenditure on intelligent and security surveillance systems
Key industry participants include Cisco Systems, Inc.; Axis Communications AB; Bosch Security Systems GmbH; Agent Video Intelligence Ltd.; Honeywell International Inc.; IBM Corporation; AllGoVision Technologies Pvt. Ltd.; Genetec Inc.; Aventura Inc.; and i2v System Pvt. Ltd.