Global Facial Recognition Market to Generate Revenue up to US$ 8363.3 Mn by 2022

Global Facial Recognition Market By Drivers & Strains, Size And Share, Technology, New Innovations, Future Roadmap

Pune, India - June 19, 2018 /MarketersMedia/ —

This study report on global Facial Recognition market throws light on the crucial trends and dynamics impacting the development of the market, including the restraints, drivers, and opportunities. The report talks about the competitive environment prevailing in the Facial Recognition market worldwide. The report lists the key players in the market and also provides insightful information about them such as their business overview, product segmentation, and revenue segmentation. Further, the report studies the market share held by the key players and forecast their growth during the next couple of years. The report also looks at the latest developments among the key players in the Facial Recognition market such as partnerships, mergers, and acquisitions.

Key Players:
3M, Animetrics, Aware, Inc., Ayonix corp., Cognitec Systems GmbH, Crossmatch, Daon, FaceFirst, Gemalto NV, Herta Security, IBM Corporation, IDEMIA, KeyLemon Ind., NEC Corporation, Neurotechnology, Nuance Communications, Inc., nViso SA., Techno Brain, amongst others.

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Various distinguishable landmarks of facial features are measured by facial recognition tech (FRT) from approximately 80 nodal points, creating a faceprint – a numerical code. The measurements gathered by the system are then put in a database and compared to other detected faces when a certain person stands before the camera. Technological advancements such as facial analytics and 3D recognition systems are being developed for better analysis, recognition and verification of facial attributes are accelerating the market growth. Increasing demand of facial recognition in smart devices such as, cell phones, tablets, laptops, and personal digital assistants, which are used for both personal and business design, is increasing the demand for the facial recognition market. The high implementation and maintenance cost of facial recognition is restricting the adoption of this technology in certain industries.

Government Anticipated to be the Dominant Segment During the Forecast Period, 2018-2026:

The rising demand for surveillance systems to enhance and tighten territorial and cross border security is driving the adoption of facial recognition technology in the government sector. Governments all over the world use it to identify potential and current threats. For instance, the use of facial recognition software allows your CCTV security algorithms trigger an alert when it identifies particular individuals from a hit list. It is an irreplaceable technology equally for finding shoplifters, scam artists, or potential terrorists. The government segment is anticipated to witness fastest growth in facial recognition market during the forecast period.

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North America to Remain the Dominant Region During the Forecast Period, 2018-2026:
The growing application of facial recognition technology in North America has made it the dominant region in the global market. It is already being used for examination, investigation, and monitoring. Governments all over the world use it to identify potential and current threats. Retailers and businesses of all kinds look for suspected shoplifters or track their workers’ chronograms. Apart from public usage by airports and railway stations, stadiums and cashpoints, there is even a progressive adaptation of facial recognition technology in medical applications.

The report takes a close and analytical look at the various companies that strive for a higher share of the global Facial Recognition market. For this purpose, a section dedicated to company profiles has been included in the report. The profiling of the leading players is done in order to judge the current competitive scenario. The competitive landscape is assessed by taking into consideration many important factors such as business growth, recent developments, product pipeline, and others.

The research report further makes use of graphical representations such as tables, info graphics, and charts to forecast figures and historical data of the global Facial Recognition market. The report is presented in a clear and concise manner so that readers can understand the market structure and dynamics effectively.

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Release ID: 362278