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Global Visual Search Market to reach USD xx billion by the end of 2030.

Global Visual Search Market Size study & Forecast, by Offering (Image Search, Search Recommendation), by Industry Vertical (Consumer Goods, Retail, Automotive, Healthcare, Others) and Regional Analysis, 2023-2030

Product Code: ICTNGT-73259259
Publish Date: 30-10-2023
Page: 200

Global Visual Search Market is valued at approximately USD xx billion in 2022 and is anticipated to grow with a healthy growth rate of more than xx% over the forecast period 2023-2030. Visual search is a technology that allows users to search for information using images as the input query, rather than text-based keywords. It involves utilizing computer vision and artificial intelligence to analyze and understand the content of images, and then retrieve relevant results based on the visual attributes of those images. The Visual Search market is expanding because of factors such as the rising number of e-commerce platforms and growing demand for AI and machine learning Visual search enables users to find similar images, products, or content in an intuitive and efficient manner, bridging the gap between the physical and digital worlds. As a result, the demand for Visual Search has progressively increased in the international market during the forecast period 2023-2030.

Visual search can be integrated with personalized recommendations. It analyzes user preferences based on their image searches, e-commerce platforms can offer tailored suggestions that align with the customer’s style and preferences. According to Statista, WooCommerce was the worldwide leading e-commerce software platform in 2023, with a market share of 39%. Squarespace Online Stores and Woo Themes ranked second and third, with shares of 14.95 and 14.67%, respectively. Furthermore, in 2021, the global retail e-commerce sales account for approximately USD 5.2 trillion and reach about USD 8.1 trillion by 2026. Another important factor that drives the Visual Search market is the increasing demand for AI and machine learning. Machine learning algorithms can calculate the similarity between images using learned representations. When a user inputs an image query, the system compares the features of the query image with those in its database to find the most visually similar results. In addition, as per Statista, in 2021, with a substantial 57% of cases, the foremost applications of artificial intelligence and machine learning involve enhancing customer experiences. The utilization of these technologies has the potential to drive progress across a range of business operations. Moreover, growing demand for visual search engines and increasing penetration of the internet and smartphones are anticipated to create lucrative growth opportunities for the market over the forecast period. However, high operational cost and a lack of adequate technological infrastructure are going to impede overall market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Visual Search Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rising application of visual search engines and increasing technological advancements in the region. The region’s dominant performance is anticipated to propel the overall demand for Visual Search. Furthermore, Asia Pacific is expected to grow fastest during the forecast period, owing to factors such as increased adoption of visual search engine solutions for e-commerce applications in the region.

Major market player included in this report are:

Alphabet Inc
Amazon.com Inc.
Cortexica Vision Systems Ltd.
Microsoft Corporation
Pinterest, Inc.
Shopagon Inc.
Slyce Acquisition Inc.
Snap Inc
Turing Analytics Inc

Recent Developments in the Market:
Ø In July 2023, Microsoft released an upgraded version of the Bing generative AI chatbot designed for businesses, emphasising the implementation of critical data privacy and governance safeguards. This version, known as Bing Chat Enterprise, preserves all the current chatbot’s functions, including the much-anticipated Visual Search functionality recently released by the tech giant.

Global Visual Search Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Offering, Industry Vertical, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Offering
Image Search
Search Recommendation

By Industry Vertical
Consumer Goods

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Visual Search Market, by Region, 2020-2030 (USD Billion)
1.2.2. Visual Search Market, by Offering, 2020-2030 (USD Billion)
1.2.3. Visual Search Market, by Industry Vertical, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Visual Search Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Visual Search Market Dynamics
3.1. Visual Search Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Rising number of e-commerce platforms Growing demand for AI and machine learning
3.1.2. Market Challenges High operational cost Lack of adequate technological infrastructure
3.1.3. Market Opportunities Growing demand for visual search engines Increasing penetration of Internet and smartphones
Chapter 4. Global Visual Search Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Visual Search Market, by Offering
5.1. Market Snapshot
5.2. Global Visual Search Market by Offering, Performance – Potential Analysis
5.3. Global Visual Search Market Estimates & Forecasts by Offering 2020-2030 (USD Billion)
5.4. Visual Search Market, Sub Segment Analysis
5.4.1. Image Search
5.4.2. Search Recommendation
Chapter 6. Global Visual Search Market, by Industry Vertical
6.1. Market Snapshot
6.2. Global Visual Search Market by Industry Vertical, Performance – Potential Analysis
6.3. Global Visual Search Market Estimates & Forecasts by Industry Vertical 2020-2030 (USD Billion)
6.4. Visual Search Market, Sub Segment Analysis
6.4.1. Consumer Goods
6.4.2. Retail
6.4.3. Automotive
6.4.4. Healthcare
6.4.5. Others
Chapter 7. Global Visual Search Market, Regional Analysis
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Visual Search Market, Regional Market Snapshot
7.4. North America Visual Search Market
7.4.1. U.S. Visual Search Market Offering breakdown estimates & forecasts, 2020-2030 Industry Vertical breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Visual Search Market
7.5. Europe Visual Search Market Snapshot
7.5.1. U.K. Visual Search Market
7.5.2. Germany Visual Search Market
7.5.3. France Visual Search Market
7.5.4. Spain Visual Search Market
7.5.5. Italy Visual Search Market
7.5.6. Rest of Europe Visual Search Market
7.6. Asia-Pacific Visual Search Market Snapshot
7.6.1. China Visual Search Market
7.6.2. India Visual Search Market
7.6.3. Japan Visual Search Market
7.6.4. Australia Visual Search Market
7.6.5. South Korea Visual Search Market
7.6.6. Rest of Asia Pacific Visual Search Market
7.7. Latin America Visual Search Market Snapshot
7.7.1. Brazil Visual Search Market
7.7.2. Mexico Visual Search Market
7.8. Middle East & Africa Visual Search Market
7.8.1. Saudi Arabia Visual Search Market
7.8.2. South Africa Visual Search Market
7.8.3. Rest of Middle East & Africa Visual Search Market

Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. Company 1
8.1.2. Company 2
8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Alphabet Inc Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.3.2. Amazon.com Inc.
8.3.3. Cortexica Vision Systems Ltd.
8.3.4. Goxip.com
8.3.5. Microsoft Corporation
8.3.6. Pinterest, Inc.
8.3.7. Shopagon Inc.
8.3.8. Slyce Acquisition Inc.
8.3.9. Snap Inc
8.3.10. Turing Analytics Inc
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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