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Rapid deployment of biometric technology, video surveillance, and advancements in technology such as cloud-based systems are some major factors driving market growth

The global facial recognition market size is expected to reach USD 13.87 Billion at a steady CAGR of 15.7% in 2028, according to latest analysis by Emergen Research. This steady market revenue growth can be attributed to rising need for physical security, increasing deployment and use of biometric devices, and rising deployment of 5G technology. Rising demand for electronic devices such as mobile phones, wearable devices, smart devices, and increase in technology adoption such as cloud-based technology and IoT is expected to continue to fuel growth of the global facial recognition market going ahead

The latest market intelligence report, titled ‘Global Facial Recognition Market’, is intended to provide the target audience with the necessary information about the global Facial Recognition industry.

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Key players in the market include NEC Corporation, Cognitec Systems, Aware Inc., FaceFirst Inc., Safran SA, Panasonic Corporation, Gemalto NV, Key Lemon Ltd., Ayonix Corporation, and Face++.

Increasingly stringent government regulations regarding biometric identity and proof of citizenship and rising deployment of video surveillance to monitor criminal activities are factor increasing investments by governments in facial recognition solutions and systems. Continuous improvements in technology such as Artificial Intelligence and increasing deployment of drone surveillance are some other factors boosting market growth. However, high implementation costs and lack of knowledge and awareness about these solutions are some factors restrain growth of the facial recognition market to a certain extent.

The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period. Furthermore, several analytical tools like investment assessment, SWOT analysis, and Porter’s Five Forces Analysis have been implemented by our analysts’ team to evaluate the production and distribution capacities of the Facial Recognition market players.

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The research study presents an industry-wide summary of the Facial Recognition market, including drivers, constraints, technological advancements, product developments, limitations, growth strategies, growth prospects, etc. among others. The Facial Recognition7 report analyzes the market based on different categories, such as product types, end-user applications, and leading geographical regions.

Segmental Analysis:

The Facial Recognition market report provides an in-depth analysis of the key competitors operating in the industry. The report offers insights into their product portfolio, business overview, financial standing, market position, revenue generation, market share and market size, and production and manufacturing capacity along with pricing analysis.

Emergen Research has segmented the global facial recognition market on the basis of component, technology, application, end use, and region:

  • Component Outlook (Revenue, USD Billion; 2018–2028)
    • Hardware
    • Software
  • Technology Outlook (Revenue, USD Billion; 2018–2028)
    • 2D Facial Recognition
    • 3D Facial Recognition
    • Facial Analytics
  • Application Outlook (Revenue, USD Billion; 2018–2028)
    • Physical Security
    • ID Management
    • Criminal Investigation
    • Business Intelligence
    • Photo Indexing and Sorting
  • End use Outlook (Revenue, USD Billion; 2018–2028)
    • BFSI
    • IT & Telecommunication
    • Healthcare
    • Government

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Regional Analysis:

The Facial Recognition industry report mainly focuses on the key market regions where the market is spread, including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report further focuses on the key segments of the market, such as product types, application spectrum, technology, end-user industries, among others.

Major Geographies Analyzed in the Report:

  • North America (U.S., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Answered in the Report:

  • What is the growth rate of the Facial Recognition market? What is the anticipated market valuation of the Facial Recognition industry by 2027?
  • What are the key growth driving and restraining factors of the Facial Recognition market?
  • Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
  • What are the key opportunities and growth prospects of the Facial Recognition industry over the forecast period?
  • Which region is expected to show significant growth in the coming years?

Take a look “Table of Content Facial Recognition market”:

Chapter 1. Methodology & Sources

    1.1. Market Definition

    1.2. Research Scope 

    1.3. Methodology

    1.4. Research Sources

          1.4.1. Primary

          1.4.2. Secondary

          1.4.3. Paid Sources

    1.5. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2018-2028

Chapter 3. Key Insights

Chapter 4. Facial Recognition Market Segmentation & Impact Analysis

    4.1. Facial Recognition Market Material Segmentation Analysis

    4.2. Industrial Outlook

          4.2.1. Market indicators analysis

          4.2.2. Market drivers analysis

                    4.2.2.1. Increasing biometric technology

                    4.2.2.2. Technological advancement such as cloud based services

                    4.2.2.3. Rising focus on personalization of data

          4.2.3. Market restraints analysis

                    4.2.3.1. Lack of knowledge and awareness among consumer

                    4.2.3.2. High implementation cost

                    4.2.3.3. Present challenging economic conditions due to the pandemic

    4.3. Technological Insights

    4.4. Regulatory Framework

    4.5. Porter’s Five Forces Analysis

    4.6. Competitive Metric Space Analysis

    4.7. Price trend Analysis

    4.8. Covid-19 Impact Analysis

Chapter 5. Facial Recognition Market By Component Insights & Trends, Revenue (USD Billion)

    5.1. Component Dynamics & Market Share, 2018 & 2028

          5.1.1. Hardware

          5.1.2. Software

Chapter 6. Facial Recognition Market By Technology Insights & Trends Revenue (USD Billion)

    6.1. Technology Dynamics & Market Share, 2018 & 2028

          6.1.1. 2D Facial Recognition

          6.1.2. 3D Facial Recognition

          6.1.3. Facial Analytics

Chapter 7. Facial Recognition Market By Application Insights & Trends, Revenue (USD Billion)

    7.1. Application Dynamics & Market Share, 2018 & 2028

          7.1.1. Physical Security

          7.1.2. ID Management

          7.1.3. Criminal Investigation

          7.1.4. Business Intelligence

          7.1.5. Photo Indexing and Sorting

Continue..!!

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At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

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Contact Information:

Eric Lee

Corporate Sales Specialist

Emergen Research | Web: www.emergenresearch.com

Direct Line: +1 (604) 757-9756

E-mail: sales@emergenresearch.com

Facebook | LinkdIn | Twitter | Blogs