Rapid deployment of biometric technology, video surveillance, and advancements in technology such as cloud-based systems are some major factors driving market growth
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 latest analysis by Emergen Research. This steady market revenue growth can be attributed to rising need for physical security, increasing deployment and use of biometric devices, and rising deployment of 5G technology. Rising demand for electronic devices such as mobile phones, wearable devices, smart devices, and increase in technology adoption such as cloud-based technology and IoT is expected to continue to fuel growth of the global facial recognition market going ahead
The latest market intelligence report, titled ‘Global Facial Recognition Market’, is intended to provide the target audience with the necessary information about the global Facial Recognition industry.
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Key players in the market include NEC Corporation, Cognitec Systems, Aware Inc., FaceFirst Inc., Safran SA, Panasonic Corporation, Gemalto NV, Key Lemon Ltd., Ayonix Corporation, and Face++.
Increasingly stringent government regulations regarding biometric identity and proof of citizenship and rising deployment of video surveillance to monitor criminal activities are factor increasing investments by governments in facial recognition solutions and systems. Continuous improvements in technology such as Artificial Intelligence and increasing deployment of drone surveillance are some other factors boosting market growth. However, high implementation costs and lack of knowledge and awareness about these solutions are some factors restrain growth of the facial recognition market to a certain extent.
The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period. Furthermore, several analytical tools like investment assessment, SWOT analysis, and Porter’s Five Forces Analysis have been implemented by our analysts’ team to evaluate the production and distribution capacities of the Facial Recognition market players.
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The research study presents an industry-wide summary of the Facial Recognition market, including drivers, constraints, technological advancements, product developments, limitations, growth strategies, growth prospects, etc. among others. The Facial Recognition7 report analyzes the market based on different categories, such as product types, end-user applications, and leading geographical regions.
The Facial Recognition market report provides an in-depth analysis of the key competitors operating in the industry. The report offers insights into their product portfolio, business overview, financial standing, market position, revenue generation, market share and market size, and production and manufacturing capacity along with pricing analysis.
Emergen Research has segmented the global facial recognition market on the basis of component, technology, application, end use, and region:
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The Facial Recognition industry report mainly focuses on the key market regions where the market is spread, including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report further focuses on the key segments of the market, such as product types, application spectrum, technology, end-user industries, among others.
Major Geographies Analyzed in the Report:
Key Questions Answered in the Report:
Take a look “Table of Content Facial Recognition market”:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2028
Chapter 3. Key Insights
Chapter 4. Facial Recognition Market Segmentation & Impact Analysis
4.1. Facial Recognition Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
188.8.131.52. Increasing biometric technology
184.108.40.206. Technological advancement such as cloud based services
220.127.116.11. Rising focus on personalization of data
4.2.3. Market restraints analysis
18.104.22.168. Lack of knowledge and awareness among consumer
22.214.171.124. High implementation cost
126.96.36.199. Present challenging economic conditions due to the pandemic
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Facial Recognition Market By Component Insights & Trends, Revenue (USD Billion)
5.1. Component Dynamics & Market Share, 2018 & 2028
Chapter 6. Facial Recognition Market By Technology Insights & Trends Revenue (USD Billion)
6.1. Technology Dynamics & Market Share, 2018 & 2028
6.1.1. 2D Facial Recognition
6.1.2. 3D Facial Recognition
6.1.3. Facial Analytics
Chapter 7. Facial Recognition Market By Application Insights & Trends, Revenue (USD Billion)
7.1. Application Dynamics & Market Share, 2018 & 2028
7.1.1. Physical Security
7.1.2. ID Management
7.1.3. Criminal Investigation
7.1.4. Business Intelligence
7.1.5. Photo Indexing and Sorting
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