Dallas, TX -- (SBWIRE) -- 03/14/2019 -- Visual search is changing the face of machine learning and artificial intelligence with a potential to reform how consumers buy and find products. By streamlining the method of search, organizations can move closer to instant gratification that most customers demand. With help of studies, it is observed that more than 60% of millennials desire the convenience of visual search over any other novel technology and the likes of Google, Pinterest and Amazon have already developed substantial capabilities in this field.

"The future of search will be about pictures rather than keywords," stated Pinterest CEO, Ben Silbermann. And with so much consumer and brand weight behind it, it's no surprise that visual search promises to be a breakout trend of 2019.

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The accuracy of visual search has improved as image recognition tools have access to big training sets of images, and visual search engines learn about the implicit questions users ask when submitting images. This has created a virtuous cycle, where more people use visual search, which in turn creates more accurate visual search tools.

Mobile visual search has gained high popularity in APAC, especially in Japan, China and South Korea where it is used in online fashion stores. Not only this, visual search engines are also used as tools for mapping, concept generation and outlining. Top global visual search providers are slowly and steadily announcing their products in the emerging countries of Asia like Indonesia and India due to their enormous market potential.

Application of visual search technology includes baggage scanning, security screening, electronic component manufacturing, navigation systems and in retail for jewelry and clothing. Since past few years, the market had witnessed a huge growth in varied end-users mainly aviation, automotive OEMs, e-commerce, electronics, forestry and many more. Currently, e-commerce dominates other all end-users segment and is anticipated to remain the same in the forthcoming years. Growing rate of investments in visual search technology coupled with higher adoption of visual search engines is projected to propel the visual search market.

Market Research and Market Trends of Visual Search

Currently, the visual search engines are witnessing significant demand due to its increasing applications in retail and e-commerce sectors. This is mainly due to the capabilities of visual search which identifies an image accurately using advanced machine learning and AI technology

Companies' huge investments, joint venture and partnerships activities in this market lead to the exchange of methodologies and technology for new developments of these visual search engines which is likely to boost the global visual search market.

Many research and development activities to increase the efficiency of visual search machines are being undertaken which is enhancing the market growth. The integration of machine learning with visual search engines has improved the image processing drastically.

Some of the prominent key players operating the visual search technology market are Google (U.S.), Slyce (Canada), Clarifai (U.S.), Veritone (U.S.), ViSenze (Singapore), Ever AI (U.S.).

Few points from Table of Contents:
Chapter 1. Executive Summary

Chapter 2. Research Methodology
2.1. Research approach
2.2. Scope, definition, and assumptions
2.3. Data sources

Chapter 3. Market Outlook
3.1. Introduction
3.2. Key trends
3.2.1. Market drivers
3.2.2. Market restraints
3.2.3. Market opportunities
3.3. Value chain analysis
3.4. Porter's Five Forces analysis
3.5. PESTEL analysis
3.6. Vendor landscape analysis, 2017

Chapter 4. Global Visual Search Technology Market Overview, By Type
4.1. Global Visual Search Technology Market share, by type, 2017 & 2025
4.2. Automotive OEMs
4.2.1. Market size and projections, 2015-2025
4.3. Electronics
4.3.1. Market size and projections, 2015-2025
4.4. Forestry
4.4.1. Market size and projections, 2015-2025
4.5. Aviation
4.5.1. Market size and projections, 2015-2025
4.6. e-Commerce
4.6.1. Market size and projections, 2015-2025
(Note: The segmentation given above is subject to change during the course of further research)

Continued...

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Analyst Commentary

Tech giants such as Microsoft, Google, AWS, IBM, and Baidu are investing relentlessly in new technological advancements. In 2016, an investment of around USD 30 Billion was made with more than 90% on the R&D activities and remaining 10% on the merger and acquisition activities. Moreover, seed investment, venture capital investment and private equity financing also grew substantial amounting to a total of over USD 6 Billion.

The development of the deep learning algorithms and machine learning and technological advancement are also major driving factors for the AI in retail market. Machine learning is projected to propel in AI in retail market at more than 40% CAGR. The growth is also driven by higher adoption of technology by the retailers to offer improved customer experience and provide personalized shopping experience to the customer.

Technological advancements around visual search have been making rounds in 2018. It remains a tiny fraction of total search volume, perhaps topping 1 billion monthly searches, compared to hundreds of billions of text searches. Even so, growth has been strong, with Pinterest, for instance, seeing monthly visual search jump from 250 million in February 2017 to 600 million in February 2018. The move towards visual search is not going unnoticed.

Images are returned for more than 15% of search queries on Google. There are over 600 million visual searches on Pinterest each month. Image-based Pinterest Ads have a very conversion rate, almost 8.5% and Pinterest is projected to clear nearly USD 1 billion a year in ad revenue by 2020. The image recognition market is expected to grow to USD xx.xx billion by 2019. By 2021, early adopter brands which redesign their websites to support visual and voice search will increase digital commerce revenue by nearly 30%.

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1. White Paper on "Changing Search Habits With The Rise Of Visual Search Technology":

Visual search will lead to a momentous shift in which people interaction and managing relationships with each other, businesses and AI will evolve. Approximately 75%of the internet users in the U.S. have started their search for visual content and nearly 74% of shoppers stated that it is inefficient to have text-based keyword searches to find appropriate required online product. Visual search is good at answering questions that are hard to verbalize, such as, "What goes well with this shirt?" As such, it has not cannibalized textual search, instead working in tandem with it. This white paper focuses on increasing use of Google Lens and Pinterest Lens for better search results.

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2. Case Study on "Visual Search Technology Benefits For Social Media And Search Engines":
With the advent of disruptive technologies, visual search technology is slowly gaining traction and is getting incorporated into numerous applications and websites. Visual search technology is much more complex than any of the search methods, be it a text or voice-based search, as with visual search the image itself is the query. However, Machine Learning is playing a vital role in getting the search engines trained for better understanding the minute components of images appear, resulting in more reliable results and keen usage. To demonstrate the same, this study focuses on Bing, Google and Pinterest and how they are applying visual search technology to enhance their search strategy.

Browse the full case study @ https://adroitmarketresearch.com/case-studies/visual-search-technology-benefits-for-social-media-and-search-engines

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