Image Recognition in CPG Market Comprehensive Insight by Growth Rate, Industry Status, Forecast till 2029

 Image recognition in CPG market is expected to grow at a significant CAGR during the forecast period. The increasing need for efficient and profitable retail execution processes with adherence to compliance standards is one of the major factors expected to drive the growth of this market.

Image recognition solutions are revolutionizing the way CPG companies manage customer interactions, market products online and offline, and manage store inventory. Image recognition technology is increasingly being used to search for products online for purchase. For instance, Snapchat’s parent company, Snap, is currently working on developing a visual product feature in Snapchat that will leverage image recognition technology and help users to take pictures of products in the real world and identify, browse, and purchase items on Amazon. 

With the boom in the e-commerce industry, even more so during the COVID-19 pandemic, entrepreneurs and retailers have realized that conventional strategies of sales promotions, marketing, and visual merchandising will not be sustainable in the CPG industry in the long term. Hence, retailers are quickly adapting to the new era of AI and image recognition to deliver a next-level customer experience. The use of image recognition for shelf recognition, product placement, and maintaining compliance with merchandising standards is quickly gaining momentum. Image recognition technology is assisting manufacturers, retailers, and marketers to understand their market and react dynamically.

Recent Developments:

·        In April 2020, Microsoft partnered with Coca-Cola. The partnership aims to regulate its business operations on Microsoft Azure cloud and offer rich new digital experiences that will provide innovative solutions. These solutions will aid the Coca-Cola Company to achieve new insights from data across the enterprise, enabling a 360-degree view of the business, and increasing customer and employee experiences.

·        In March 2020, Trax acquired Survey.com to combine both companies’ technologies, cater to the needs of emerging CPG market and grocery retailers, and strengthen its position in image recognition in the retail market.

·        In August 2019, AWS enhanced Amazon Rekognition. The enhanced solution provides high accuracy of gender identification and emotion detection; and improved functionality to its face analysis features.

To Request a Sample of our Report on Image Recognition in CPG Market:  https://www.omrglobal.com/request-sample/image-recognition-in-cpg-market

Market Coverage

·        The market number available for – 2021-2030

·        Base year- 2022

·        Forecast period- 2023-2030

·        Segment Covered

·        Regions Covered- Globally

·        Competitive Landscape: IBM, Google, Qualcomm, Microsoft, AWS, Trax, and Catchoom, among others. 

Image Recognition In CPG Market by Segment

By Component

•             Hardware

•             Solutions

•             Services 

By Application 

•             Inventory Analysis

•             Product 

•             Shelf Monitoring Analysis 

•             Gauging Emotions

By Deployment Mode 

•             Cloud

•             On-Premise

A full Report of Image Recognition in CPG Market is Available at:  https://www.omrglobal.com/industry-reports/image-recognition-in-cpg-market

Image Recognition in CPG Market by Region

North America

·        United States

·        Canada

Europe

·        UK

·        Germany

·        Spain

·        France

·        Italy

·        Rest of Europe

Asia-Pacific

·                  India

·                  China

·                  Japan

·                  South Korea

·                  Rest of APAC

Rest of the World

Reasons to buy from us –

1.  We cover more than 15 major industries, further segmented into more than 90 sectors.

2.  More than 120 countries are for analysis.

3.  Over 100+ paid data sources mined for investigation.

4.  Our expert research analysts answer all your questions before and after purchasing your report.

About Orion Market Research 

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari

Email: info@omrglobal.com

Contact no:  +91 7803040404

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