Global Facial Recognition Market is expected to reach USD 8.93 Billion by 2022.
Global Facial Recognition Market had been valued at USD 3.4 billion in the year 2016, which is expected to reach USD 8.93 billion by the end of the forecast period growing at 19.6% CAGR.
Pune, India – June 28, 2017 /MarketersMedia/ —
Market Synopsis of Global Facial Recognition Market:
Facial Recognition is a biometric application which captures image and uses it to identify individuals by applying facial analytics and comparing it with the existing database. Facial recognition systems are commonly used for security purposes, especially in the surveillance field but recently the use of facial recognition in other applications has progressed. The facial recognition market is driven by the increasing criminal activities, globally. Apart from it, the increasing security measures at ATMs and the growing installation of facial recognition systems at airports, and shopping malls drive the facial recognition market.
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The global facial recognition market had been valued at USD 3.4 billion in the year 2016, which is expected to reach USD 8.93 billion by the end of the forecast period growing at 19.6% CAGR.
Key Findings
1) The global facial recognition market is expected to reach USD 8.93 Billion by 2022.
2) By Technology, 3D Facial Recognition accounts for the largest market share and is growing with approximately ~23.4% CAGR during forecast period.
3) By End-user, Government industry holds the largest market growing with approximately 22.9% CAGR by the end of forecast period.
4) Geographically, North America has been projected to have the largest market share in global Facial Recognition market, while Asia-Pacific has been projected to emerge as the fastest growing region.
Key Players for Global Facial Recognition Market :
The key players of facial recognition market are Safran SA (France), NEC Corporation (Japan), Cognitec Systems (Germany), Aware Inc. (U.S), Daon Inc. (U.S.), Gemalto (Netherlands) FaceFirst Inc. (U.S.), Ayonix Corporation (Japan), Key Lemon Ltd. (Switzerland), Face++ (China) and others.
Regional and Country Analysis of Facial Recognition Market Estimation and Forecast
The global Facial Recognition market is expected to grow at a promising rate during the forecast period, 2016-2022. North America is projected to be the largest market for facial recognition. The growing demand of high end security is estimated to drive the facial recognition market in North America. It is followed by Europe, which would continue to hold a large share in the market. Asia-Pacific is expected to be the fastest growing market due to the increase of investments in the field of surveillance.
Target Audience
1) Technology investors
2) End-user industries
3) Research & consultant organization
4) Market players
5) Government
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Release ID: 212219
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