The global Facial Recognition Market was worth USD 2.78 billion in 2014 and is expected to reach approximately USD 8.96 billion by 2023, annual growth rate (CAGR) of 13.87% during the forecast period.
Facial Recognition Market – Report Overview:
The development of the global facial recognition market is foreseen to be driven by different components, for example, the expanding requirement for upgraded surveillance and observing at public spots and the expanding usage of facial recognition technologies in enterprises, for example, the government.
The expanding reliance of end-users on sites and web applications is offering ascend to an expanding number of data and identity theft cases. Additionally, the expanding unpredictability of these attacks is driving end-users to adopt secure confirmation arrangements. This expands the usage of biometric security solutions as they are a standout amongst the most secure validation arrangements due to their capacity to consolidate the physical and behavioral highlights of the end-users that are hard to forge.
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By technology the market is split into Databases, Facial recognition software and Software Development Kit (SDK), Analytics solutions, Solution type and Modeling and restructuring. By end user the market is split into Government and Enterprises.
Developing awareness among various industries about the highlights of facial recognition advancements and the rising requirement for a more secured biometric system, the interest for facial acknowledgment framework is said to increment comprehensively. Facial recognition services play an essential part in face recognition and detection, and include consulting and training administrations and cloud-based facial recognition services. Facial recognition services are offered for governments, military, retail, homeland security, and healthcare.
The 3D facial recognition technology is autonomous of illumination, which empowers it to capture high-quality pictures in uncontrolled conditions, for example, dim as well as totally dark zones. The 3D facial model beats the disadvantages of the 2D facial acknowledgment innovation. The 3D facial acknowledgment advancements have a high potential to verify, analyze, and identify the facial attributes of people.
Facial Recognition Market -Regional Outlook:
Region-wise, North America will be one of the biggest revenue generators during the forecast period, owing to higher adoption rate of advanced technologies at the initial stages for defense and homeland security. Moreover, incorporating facial recognition for border security by detecting passport fraud is also a key factor impelling the market’s growth in this region. Factors such as major investments from the government sector for enhancement of security and surveillance infrastructure, increased public awareness, and the development of sophisticated technologies equipped by analytics are said to be driving the facial recognition market growth in APAC significantly.
Facial Recognition Market -Top Major Market Players:
The Prominent players in the market are Cognitec Systems, Ayonix Corp, Animetrics, KeyLemon, Safran Identity and Security,Techno Brain, Aware, Gemalto, NEC and Herta Security. Based on geography, the market is split into North America, Europe, Asia Pacific and Rest of the world.
Facial Recognition Market – Application Outlook:
Facial recognition services play a significantpart in face detection and recognition, and comprise training and consulting services and cloud-based facial recognition services. Facial recognition services are useful for homeland security, governments, healthcare, retail, and military.
Key Findings of the Research Study:
What was the facial recognition systems Facial Recognition Market size in 2014 and forecast from 2015 to 2023?
What will be the industry Facial Recognition Market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the facial recognition systems market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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Table of Content:
4. Facial Recognition Market Analysis by Regions
4.1.North America (United States, Canada and Mexico)
4.2. Europe (Germany, France, UK, Russia, Italy and Rest of Europe)
4.3. Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Rest of Asia-Pacific)
4.4. South America (Brazil, Argentina, Columbia and Rest of South America)
4.5. Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa and Rest of MEA)
5. Facial Recognition Market, By Component
5.2. Global Facial Recognition Sales, Revenue and Market Share by Component (2013-2018)
5.4. Software tools
6. Facial Recognition Market, By Technology
6.2. Global Facial Recognition Sales, Revenue and Market Share by Technology (2013-2018)
6.3. Solution Type
6.5. Facial recognition software and Software Development Kit (SDK)
6.6. Modeling and restructuring
6.7. Analytics solutions
7. Facial Recognition Market, By End User
7.2. Global Facial Recognition Sales, Revenue and Market Share by End User (2013-2018)
7.5. Other End-Users (casinos, public places, automotive, mobile application, and home security systems)
8. Facial Recognition Market, By Region
8.2. Global Facial Recognition Sales, Revenue and Market Share by Regions
8.3. North America Facial Recognition by Countries
8.4. Europe Facial Recognition by Countries
8.6. South America
8.7. Middle East and Africa
9. Company Profiles
9.1. Ayonix Corp.
9.2. Cognitec Systems
9.4. Safran Identity and Security
9.6. Techno Brain
9.10. Herta Security.
10. Global Facial Recognition Market Competition, by Manufacturer
11. Facial Recognition Market Forecast (2018-2023)