Global Facial Recognition Market: Overview
In the stored facial database, the identification of the individuals is made by comparing their facial features from an image; this biometric technology is known as facial recognition. In the coming years, this market is going to grow tremendously owing to its increased use in non-law enforcement and law enforcement applications. Among the other biometric technologies, such as skin texture recognition, fingerprint scanning, voice recognition, and iris recognition, facial recognition is preferred on a large scale owing to its easy deployment and non-contact process. This technology is mainly used in the marketing and security purpose.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
Global Facial Recognition Market: Segmentation
The facial recognition market is segmented globally into its component, technology, and use case. On the basis of the component, the global market is segregated into service and software. The service segment is further sub-segmented into cloud-based facial recognition services and training and consulting service. The software segment is sub-segmented into thermal facial recognition, 2D facial recognition, and 3D facial recognition. Based on the technology, the market is categorized into middleware, modeling and restructuring, facial recognition software and SDK (Software Development Kit), databases, and analytics solutions. On the basis of the use case, the facial recognition market is bifurcated into emotion recognition, surveillance, law enforcement, monitoring, e-learning, robotics, and others.
Global Facial Recognition Market: Growth Factors
The use of facial recognition provides high level of security in the private and the public sectors. In the recent years, there has been an increase in the terrorists attacks in the government organizations, thus the demand for the facial recognition is growing on a large scale. The factors that increased the use of the facial recognition is its increasing application in the intelligent signage and physical security, the technological advancements made such as 3D-based recognition systems and cloud-based services have huge implementations of the facial recognition. Technically developed facial recognition systems with its application in the mobile security and drones will provide huge opportunities in the future. However, factors such as lack of accuracy, lack of security of the personal shared data, and the high implementation cost are likely to hamper the market growth.
Global Facial Recognition Market: Regional Analysis
Region-wise, the facial recognition market is diversified into North America, Asia-Pacific, Europe, and Rest of the World. The region that dominates the facial recognition market is the North America. The developed regions in North America have deep-rooted infrastructure which favors the market growth. The major countries that are contributing to the market share is the US and Canada. The factor that attributes this growth is the established economy that allows to make investments in the new technologies. The Asia Pacific region also has a huge scope for the growth of the facial recognition market. Huge investments made by the government for the surveillance and security infrastructure, increased awareness among the people, and the increasing developments made are some of the factors that are driving the Asia-Pacific facial recognition market.
Global Facial Recognition Market: Competitive Players
The key market players in the facial recognition market include NEC Corporation, Safran Group, Cognitec Systems GmbH, Keylemon, Animetrics, 3M, Aware, Daon Inc., Ayonix, and nViso.
Global Facial Recognition Market: Regional Segment Analysis
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