◆タイトル：Facial Recognition Market by Component (Software, Tools, and Services), Application Area (Emotion Recognition, Attendance Tracking and Monitoring, Access Control, Law Enforcement), Vertical, and Region - Global Forecast to 2024
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The global facial recognition market size to grow at a Compound Annual Growth Rate (CAGR) of 16.6% during the forecast periodMarketsandMarkets forecasts the global facial recognition market size to grow from USD 3.2 billion in 2019 to USD 7.0 billion by 2024, at a CAGR of 16.6% during 2019–2024. The rising need for surveillance has become one of the major factors to drive the facial recognition market. The advent of new technologies, such as high-definition Closed Circuit Television (CCTV) and high-resolution 3D facial recognition technologies, along with iris recognition and emotion detection, has enhanced the facial recognition market. However, integration of new facial recognition technologies with the existing legacy system is limiting the growth of facial recognition solutions in the market.
Government and defense sector among verticals to gain maximum traction during the forecast period
Increasing need of facial recognition-enabled biometrics solutions for identity management, border management, and homeland and military security management have fueled government organizations to largely implement facial recognition technologies. Additionally, government-owned large-scale programs, such as smart cities and smart transportation, need the adoption of facial recognition solutions.
3D facial recognition software tools to hold the largest market size during the forecast period
3D facial recognition software is capable of analyzing, identifying, and verifying facial characteristics of individuals. It overcomes the drawbacks of 2D facial recognition and can work in low light or completely dark areas. 3D facial recognition technology is used mostly in cross- border monitoring, document verification, and identity management.
Asia Pacific to grow at the highest CAGR during the forecast period
The Asia Pacific (APAC) region has a great scope for growth in the facial recognition market in terms of usage of the facial recognition solution. The facial recognition market in APAC is anticipated to grow significantly, due to huge governmental investments in security and surveillance infrastructure, increased public awareness, and emergence of refined technologies backed by analytics. Futhermore, growth is anticipated with technological advancements, along with the mandatory regulations imposed by government regulatory entities to adopt the best-in-class technologies and standards. Fast expansion of regional enterprises in the APAC region is another crucial variant contributing to the growth of the facial recognition market.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The breakup profiles of the primary participants are as follows:
By Company: Tier I: 15%, Tier II: 42%, and Tier III: 43%
By Designation: C-Level: 62%, Director Level: 20%, and Others: 18%
By Region: North America: 40%, APAC: 30%, Europe: 20%, MEA: 5%, and Latin America: 5%
The report includes the study of the key players offering facial recognition solutions. It profiles major vendors in the global facial recognition market including NEC (Japan), Aware (US), Gemalto (Netherlands), Ayonix Face Technologies (Japan), Cognitec Systems GmbH (Germany), NVISO SA (Switzerland), Daon (US), StereoVision Imaging (US), Techno Brain (Kenya), Neurotechnology (Lithuania), Innovatrics (Slovakia), id3 Technologies (France), IDEMIA (France), Animetrics (US), and MEGVII (China).
The report segments the global facial recognition market by component, application area, vertical, and region. The application area segment comprises emotion recognition, attendance tracking and monitoring, access control, law enforcement, and others (robotics and eLearning). The verticals segment comprises 7 verticals, namely, Banking, Financial Services, and Insurance (BFSI); government and defense; retail and eCommerce; healthcare; education; automotive; and others (manufacturing, telecom, and energy and utilities). The facial recognition market by offering has software tools and services. The report covers the facial recognition market with respect to 5 major regions: North America, Europe, APAC, Latin America, and Middle East and Africa (MEA).
The report would help the market leaders and new entrants in the global facial recognition market in the following ways:
1. The report segments the market into various subsegments, hence it covers the market comprehensively. It provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are further split across applications and regions.
2. It helps in understanding the overall growth of the market. It also provides information about key market drivers, restraints, challenges, and opportunities.
3. It helps stakeholders in understanding their competitors better and gaining more insights to strengthen their positions in the market. The study also presents the positioning of the key players based on their product offerings and business strategies.
1.1 Objectives of the Study
1.3 Years Considered for the Study
1.4 Market Definition
1.5 Segment Definition
2 Research Methodology
3 Executive Summary
3.1 Key Trends
3.2 Geographic Insights
3.3 Market Dynamics
3.4 Use Cases
4 Facial Recognition Market Analysis, By Component
5 Facial Recognition Market, By Software Tool
6 Facial Recognition Market, By Service
7 Facial Recognition Market Analysis, By Application Area
8 Facial Recognition Market Analysis, By Vertical
9 Facial Recognition Market, By Region
10 Competitive Landscape
11 Company Profile
(Business Overview, Recent Developments,)*
11.4 Ayonix Face Technologies
11.5 Cognitec Systems
11.8 Stereovision Imaging
11.9 Techno Brain
11.12 Id3 Technologies
*Details on Business Overview, Recent Developments, Might Not Be Captured in Case of Unlisted Companies.
12.1 Discussion Guide
12.3 Introduction RT: Real-Time Market Intelligence
12.4 Related Reports
12.5 Author Details
List of Tables (6 Tables)
Table 1 Global Facial Recognition Market Size, 2017-2024 (USD Million)
Table 2 Facial Recognition Market: North America, By Country
Table 3 Facial Recognition Market: Europe, By Country
Table 4 Facial Recognition Market: Asia Pacific, By Country
Table 5 Facial Recognition Market: Middle East and Africa, By Country
Table 6 Facial Recognition Market: Latin America, By Country
List of Figures (15 Figures)
Figure 1 Market Segmentation
Figure 2 Facial Recognition Market is Set to Grow Significantly Bolstered By Growing Demand for New Security and Authentication Services
Figure 3 Top 3 Verticals By 2024 (USD Million)
Figure 4 Top 3 Application Areas By 2024 (USD Million)
Figure 5 North America Currently Leads the Facial Recognition Market, While APAC is Expected to Be the Highest Growing Market By 2024
Figure 6 Drivers, Restraints, Opportunities, and Challenges: Facial Recognition Market
Figure 7 Facial Recognition Market, By Component, 2019–2024 (USD Million)
Figure 8 Facial Recognition Market, By Software Tool, 2019–2024 (USD Million)
Figure 9 Facial Recognition Market, By Service, 2019–2024 (USD Million)
Figure 10 Facial Recognition Market, By Application Area, 2019–2024 (USD Million)
Figure 11 Facial Recognition Market, By Vertical, 2019–2024 (USD Million)
Figure 12 Facial Recognition Market (Global) Competitive Leadership Mapping, 2019
Figure 13 NEC: Company Snapshot
Figure 14 Aware: Company Snapshot
Figure 15 Gemalto (A Thales Company): Company Snapshot
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