Global facial recognition market
stood at around $ 2.9 billion in 2017 and is expected to grow at a CAGR of 13%
by 2023, on account of growing criminal activities and increasing need for
enhanced monitoring and surveillance. Moreover, rising awareness about the
benefits of facial recognition and growing implementation by the commercial
sector is further expected to push the demand for facial recognition technology
in the coming years. Government, transportation and military & defense are
the largest contributors to the global facial recognition market as these end
use sectors are adopting facial recognition for real time identification of
criminals and to provide more secure environment. Additionally, huge National
ID Programs like ‘Aadhaar’ in India are also boosting the face recognition market
as they involve recording the facial biometrics of individuals as well.
Years considered for this report:
Historical Year: 2013-2016
Base Year: 2017
Estimated Year: 2018
Forecast Period: 2019–2023
Objective of the Study:
- To analyze and forecast the market size of global facial recognition
market.
- To define, classify and forecast the global
facial recognition market on the basis of component, software, end
users and region.
- To assess the detailed market segmentation and forecast the market
size, in terms of value, by segmenting the global facial recognition market
into regions, namely – North America, Europe, Asia-Pacific, Middle East
& Africa and South America.
- To identify the tailwinds and headwinds for the global facial
recognition market.
- To identify the drivers and challenges for global facial
recognition market.
- To strategically profile leading players in the market which are
driving the innovation and technological advancements in the global facial
recognition market.
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Global facial recognition market is controlled by these major
players, namely NEC Corporation, Idemia, Gemalto NV, Ayonix
Corporation, Cognitec Systems GmbH, Aware, INC., Daon, Inc., Neurotechnology, Herta
Security, and Keylemon SA.
TechSci Research performed both primary
as well as exhaustive secondary research for this study. Initially, TechSci
Research sourced a list of leading global facial recognition companies.
Subsequently, TechSci Research conducted primary research surveys with the
identified companies. While interviewing, the respondents were also enquired
about their competitors. Through this technique, TechSci Research was able to
include the providers which could not be identified due to the limitations of
secondary research. TechSci Research analyzed the global facial recognition offerings
and presence of all major facial recognition companies, globally.
TechSci Research calculated the
market size for the global facial recognition using a bottom-up approach, where data for different components
(Software & Services) was
recorded and forecast for the future years. TechSci Research sourced these values
from the industry experts and company representatives and externally validated
through analyzing historical data of these product types and applications. Various
secondary sources such as company website, annual reports, press releases, etc.,
were also studied by TechSci Research.
Key Target Audience:
- Global facial recognition
technology providers, system integrators and other stakeholders
- Associations, organizations,
forums and alliances related to facial recognition technology
- Government bodies such as
regulating authorities and policy makers
- Market research and
consulting firms
The study is useful in providing answers to several critical questions
that are important for the industry stakeholders such as global facial
recognition technology and solution providers and other stakeholders. The
report insights would allow them in strategizing investments and capitalizing on
emerging market opportunities.
Report Scope:
In this report,
the global facial recognition market has been segmented into the following
categories in addition to the industry trends which have also been detailed below:
- Market, by Component:
- Market, by Software Types:
- 3D
Facial Recognition
- 2D
Facial Recognition
- Thermal
Face Recognition
- Market, by End Users:
- Government
& Transportation
- Military
& Defense
- BFSI
- Retail
- Hospitality
- Others
- Market, by Region:
- North
America
- Europe
- Asia-Pacific
- Retail
- Hospitality
- Others
Competitive
Landscape
Company Profiles: Detailed
analysis of the major companies present in the global facial recognition market.
Available
Customizations:
With the given market data, TechSci
Research offers customization according to a company’s specific needs. The
following customization options are available for the report:
Customer Profiling
- Detailed analysis and profiling of additional
market players (up to five)
In
case of you can’t find what you are looking for then please get in touch with
our custom research team at sales@techsciresearch.com