The market report is a historical overview and in-depth study on the current and future market. The report also offers a basic overview of the market size, share, leading players, top regions with major countries data, and a detailed segmentation description. It investigates and assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.
The major players in the Facial Recognition Market include:
• NEC Corporation
• Aware, Inc.
• Gemalto NV
• Ayonix Corporation
• IDMEA
• Cognitec Systems GmbH
• Daon Inc.
• NVISO SA
• StereoVision Imaging, Inc.
• Techno Brain Group
Key Drivers of the Facial Recognition Market:
The primary factor propelling the growth of the global facial recognition market is the growing technological advancement across various industry verticals globally. The public and private sectors are mainly aiming to improve their high security level, which will boost the emerging demand of the market. Moreover, the increasing number of incidences of terrorist attacks in different government organizations will further promote them to opt for surveillance systems to enhance their safety and security level. The facial recognition system is highly cost-effective and can quickly capture an image from a distance. The rapid technological advancement in these systems, such as 3D-based recognition systems and cloud-based services, will bring numerous growth opportunities in the market.
The growing demand for facial locks in the smartphones and increasing penetration of smart devices are the emerging facial recognition market trends, strengthening market growth during the forecast period. Drones have been highly used in the commercial sectors, such as media & entertainment, surveying, and inspection, thus accelerating the growth of the facial recognition market size. On the other edge of the spectrum, the lack of accuracy, increasing sensitivity towards shared personal data, and the rising cost of implementing facial recognition systems are key factors hampering market growth.
Segmentation of the Facial Recognition Market:
The major regions covered in the report are North America, Europe, Asia-Pacific, and the Rest of the world. It also contains regional volume and revenue of the forecast period. Moreover, it helps the reader to understand accurate data on volume sales according to the consumption for the same years.
On the basis of component, this report displays the production, revenue, price, market share, and overall growth rate of each component, primarily split into:
• Software Tools
o 2D Facial Recognition
o 3D Facial Recognition
o Facial Analytics
• Services
o Training and Consulting
o Cloud-based Facial Recognition
On the basis of application, this report displays the production, revenue, price, market share, and overall growth rate of each application, primarily split into:
• Emotion Recognition
• Attendance Tracking & Monitoring
• Access Control
• Law Enforcement
• Others
On the basis of vertical, this report displays the production, revenue, price, market share, and overall growth rate of each vertical, primarily split into:
• BFSI
• Government & Defence
• Retail &eCommerce
• Healthcare
• Education
• Automotive
• Others
On the basis of region, this report displays the production, revenue, price, market share, and overall growth rate of each region, primarily split into:
• North America
o United States of America
o Canada
• Asia Pacific
o China
o Japan
o India
o Rest of APAC
• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
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