The last decade has witnessed great interest in research on content-based image retrieval. This has paved the way for a large number of new techniques and systems, and a growing interest in associated fields to support such systems. Likewise, digital imagery has expanded its horizon in many directions, resulting in an explosion in the volume of image data required to be organized. In this paper, we discuss some of the key contributions in the current decade related to image retrieval and automated image annotation, spanning 120 references. We also discuss some of the key challenges involved in the adaptation of existing image retrieval techniques to build useful systems that can handle real-world data. We conclude with a study on the trends in volume and impact of publications in the field with respect to venues/journals and sub-topics. Categories and Subject Descriptors H.3.1 [Information Storage and Retrieval]: Content Analysis and Indexing—Indexing methods General Terms Algorit...