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Facial Recognition Market to 2027- Global Analysis and Forecasts By Technology, Component, Application

Press release   •   Apr 25, 2019 11:37 IST

Global Facial Recognition Market

Facial recognition is a process of identification of human face using technology, and face recognition map is a special feature which stores the data mathematically as a face print. The facial recognition systems are used in high-quality devices such as smartphones and cameras as an option for authentication and identification.The facial recognition market is harnessed by the factors such as increasing usage of facial recognition in law enforcement application, and increasing integration of facial recognition technologies in smartphones. However, the lack of accuracy and high cost of solutions are the primary factor that might hinder the growth of facial recognition market. 

Some of The Leading Players in Global Facial Recognition Market: 3M, AmpleTrails, ANIMETRICS INC., Cognitec Systems GmbH, Daon, Gemalto NV, IBM Corporation, NEC Corporation, Nuance Communications, Inc., Recognition Technologies, Inc.

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The global facial recognition market is segmented on the basis of technology, component, and application. Based technology, the market is segmented as 2D facial recognition, 3D facial recognition, and facial analytics. On the basis of the component the market is segmented as software, hardware, and services. On the basis of application the market is divided into identity management, law enforcement, border security, others.

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global facial recognition market based on various segments. It also provides market size and forecast estimates from year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The facial recognition market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting facial recognition market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the Facial recognition market in these regions.

The reports cover key developments in the facial recognition market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from Facial recognition market are anticipated to lucrative growth opportunities in the future with the rising demand for facial recognition in the global market. Below mentioned is the list of few companies engaged in the facial recognition market.

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