Facial Recognition Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Facial Recognition Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : September, 2021 | Technology & Media

Report Digest


Global Facial Recognition Market: Snapshot

A few international vendors, such as Cognitec Systems, 3M Cogent, Safran, Gemalto, and NEC, have stronghold over the global facial recognition market, dominating with their technological and financial might, feeding their biometric technology customers. However, the competition itself among these market leaders is quite intense, with research and development of innovative products at its backbone.

The global facial recognition market is expected to gain from several new trends, including the shift from 2D to 3D facial recognition, advancements such as cloud-based services, emergence of facial analytics, growing application in mobile security and drones, increasing application in physical security and intelligent signage, commercialization of facial recognition technology to the corporate sector, and incrementing integration of facial biometrics with smart cards. On the other hand, factors such as privacy concerns, significant error rates, competition from non-biometric technologies, and the lack of established international standards are expected to hinder the market from achieving its true potential in the near future.

This report on the global facial recognition market has been prepared to act as dependable document for audiences such as government including homeland security and military, enterprises including banking, financial services and insurance (BFSI), and retail, and other consumers. A number of key companies operational in the facial recognition market have been profiled in the report in order to present qualitative and quantitative scenario of the market, and studies their product portfolio as well as recent strategic decision to evaluate the future.

Global Facial Recognition Market: Overview

Facial recognition refers to a complex computer application used to robotically identify a creature from a video mount or digital image source. One of the methods of doing this is by equating the selected facial features from a facial database and the image fed by the video mount or the digital image source. Technological developments in the field have significantly improved the accuracy with which the target is identified.

Facial recognition systems are generally used for surveillance and security purposes, however, the range of applications using these complex systems is rising at a significant pace in the global market. Some advanced systems are also used to compare and match other biometrics such as eyes and fingerprints by comparing this data with digital databases.

Facial recognition is increasingly emerging as one of the most preferred technologies for authentication and identification of a variety of subjects, ranging from animals to humans. The technology is not restricted to its traditional application of facial detection any longer. Its present usage includes photo tagging, refining search engine searches based on facial images, identifying age, sex, and ethnicity of a person in retail stores, gathering intelligence on buying pattern in retail shops, and identifying missing persons.

Global Facial Recognition Market: Scope of the Report

This report on the global facial recognition market presents a thorough overview of the present growth dynamics of the market and its key segments. The report also includes vast projections related to the growth prospects of the market on global and regional fronts over the period between 2017 and 2025. The report includes a detailed analysis of the notable factors expected to have a significant influence on the market’s growth prospects, including drivers, challenges, opportunities, trends, regulatory scenario, and state of competition.

The report also includes a detailed overview of the competitive landscape of the global facial recognition market, wherein detailed profiles of some of the key vendors in the market and recent developments, in terms of aspects such as technology, product, and M&A activities are analyzed. Companies are profiled with the help of a detailed SWOT analysis and details regarding aspects such as product portfolio, finances, growth strategies, and geographical presence.

Global Facial Recognition Market: Drivers and Restraints

The key drivers of this market include increase in surveillance market and enormous spending on biometric technologies by government agencies, which is the leading end-use segment contributing to the revenue of the market. Some of the factors restraining the market growth are issues regarding interoperability with existing security systems, delay in execution due to apprehension and bureaucracy about privacy intrusion.

Global Facial Recognition Market: Segmentation

The facial recognition market could be segmented on the basis of technology and solutions into 2D, thermal, emotion, 3D, forensic, and mobile facial recognition technologies. In addition the market has been segmented on the basis of software types, including which includes face recognition algorithm, database, modeling, middleware, restructuring, and analytics software.

Some of the key players operating in the market are Airborne Biometrics, Animetrics Inc., Afix Technologies Inc., Aware Inc., Cognitec Systems, Fujitsu, ZK Software, and 3m Cogent.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?