Emergen Research Logo
Market Size – USD 4.29 Billion in 2020, Market Growth – at a CAGR of 15.7%, Market Trend –Technological advancements in facial expression detection
VANCOUVER, BRITISH COLUMBIA, CANADA, May 9, 2023 /EINPresswire.com/ — Global Facial Recognition Market Forecast to 2028
The facial recognition market refers to the industry of technologies and services that use facial recognition algorithms to identify and verify individuals. This market has been rapidly expanding in recent years due to the increased adoption of facial recognition in various applications such as security and surveillance, marketing and advertising, and user authentication.
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 the latest analysis by Emergen Research. This steady market revenue growth can be attributed to the rising need for physical security, the increasing deployment and use of biometric devices, and the rising deployment of 5G technology. Rising demand for electronic devices such as mobile phones, wearable devices, and smart devices and an increase in technology adoption such as cloud-based technology and IoT are expected to continue to fuel growth of the global facial recognition market going ahead.
Download Free Sample PDF copy Report of Global Facial Recognition Market @ @ https://www.emergenresearch.com/request-sample/640
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Facial Recognition market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Companies Profiled in the Report are:
NEC Corporation, Cognitec Systems, Aware Inc., FaceFirst Inc., Safran SA, Panasonic Corporation, Gemalto NV, Key Lemon Ltd., Ayonix Corporation, Face++
Research Report on the Facial Recognition Market Addresses the Following Key Questions:
Who are the dominant players of the Facial Recognition market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Facial Recognition market?
What are the key growth drivers and restraining factors of the Facial Recognition market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Facial Recognition market and its key segments?
To know more about Facial Recognition market research report, visit @ https://www.emergenresearch.com/industry-report/facial-recognition-market
Key Highlights From the Report
In March 2021, NEC Corporation, which is a market leader in the integration of IT and network technologies, announced commence trial for Face Express, which is a new boarding procedure for international departure flights using facial recognition technology at Narita International Airport (NRT), Narita International Airport Corporation (NAA), Tokyo International Airport (Haneda Airport, HND), and Tokyo International Air Terminal Corporation (TIAT). Utilization of facial recognition consist of advanced biometric authentication technologies, Bio-Idiom.
Software segment accounted for largest revenue share in the facial recognition market in 2020, which is projected to incline rapidly during the forecast period. Rising need of technology development such as cloud-based technology, Artificial Intelligence systems, and Internet of connectivity technology is boosting global facial recognition market growth.
3D facial recognition segment revenue growth rate is projected to incline rapidly during the forecast period. Rising demand for new and more innovative technologies to obtain more precise and accurate matches of biometrics to identify users are factors driving revenue growth of this segment.
Identity management segment revenue growth rate is projected to incline rapidly during the forecast period. Increasing concerns regarding safety of home-based systems and rising number of cases of cyber-criminal activity are factor boosting market growth.
Government segment accounted for largest revenue share in the facial recognition market in 2020, Increasing deployment of biometrics to establish identity of citizens and increasing digitalization of documents are factors further supporting market growth.
North America accounted for largest revenue share contribution to the global facial recognition market in 2020. Technological advancements in user engagement, user security, and human identification in various sectors such as BFSI, healthcare, telecommunications, mobile phones, and defense is expected to boost growth of the facial recognition market to a significant extent. Increasing investments by major players in face recognition technologies for deployment at airports and large enterprises is expected to further support market growth.
Market Overview:
The report bifurcates the Facial Recognition market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
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
Request a impresive discount on this report @ https://www.emergenresearch.com/request-discount/640
Regional Landscape section of the Facial Recognition report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
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)
How will this Report Benefit you?
A 250-page report from Emergen Research includes 194 tables and 189 charts and graphics. Anyone in need of commercial, in-depth assessments for the global Facial Recognition market, as well as comprehensive market segment analysis, can benefit from our new study. You can assess the whole regional and global market for Facial Recognition with the aid of our recent study. To increase market share, obtain financial analysis of the whole market and its various segments. We think there are significant prospects in this industry for rapidly expanding energy storage technology. Look at how you may utilise the current and potential revenue-generating prospects in this sector. The research will also assist you in making better strategic decisions, enabling you to build growth strategies, strengthen competitor analysis, and increase business productivity.
Request customization of the report @ https://www.emergenresearch.com/request-for-customization/640
Thank you for reading our report. To know more about the customization feature, please get in touch with us, and our team will ensure the report is customized to meet your requirements.
Latest Blog Articles Published by Emergen Research:
Unmanned Ground Vehicle Market
Joint Reconstruction Market
Deep Learning Chip Market
Cloud Testing Market
Laparoscopy and Endoscopy Devices Market
voice payment market
https://prtimes.jp/main/html/rd/p/000000066.000082259.html
Drone Logistics and Transportation Market
Eric Lee
Emergen Research
+91 90210 91709
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
