An ecommerce giant eBay is looking for more acquisitions to tap into the image recognition and augmented reality market as it is significantly losing to its rival Amazon.

Amazon.com has already adopted image recognition which allows users to shot an object with their camera or phone and send image to the website and find a match in the online store and buy it within seconds.

Steve Yankovich, head of eBay mobile, said that his division had the company's full support to spend money on innovative technology, as the fastest growing part of eBay which is helping to renew the 15-year-old company's image.

Augmented reality features could allow users to see themselves in items of clothing they might want to buy, picture a car they like in different colors, or see what kind of light a lamp would shed in their living room.