Facial Recognition Market Flourishing 13.9% CAGR to Reach $7.76 Billion Getting Large in North America by 2022
Facial Recognition Market with 153 pages to provide details on facial recognition software tool analyzes, identifies, technology, tracking and verifies the facial characteristics of individuals with high potential. Global facial recognition market includes various vendors, such as Aware, NEC Corporation, Ayonix Corp., & Others.
November 15, 2017 /MarketersMedia/ —
Global facial recognition market is expected to grow from $4.05 billion in 2017 to $7.76 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 13.9% during forecast period.
Global facial recognition market 2017 to 2022 includes various facial recognition vendors, such as Aware (US), NEC Corporation (Japan), Ayonix Corp. (Japan), Cognitec Systems (Germany), KeyLemon (Switzerland), nViso (Switzerland), Herta Security (Spain), Techno Brain (Kenya), Neurotechnology (Lithuania), Daon (US), Animetrics (US), 3M Company (US), IDEMIA (France), and Gemalto (Netherlands).
Complete report on Global facial recognition market spread across 153 pages, profiling 10 companies and supported with 82 tables and 37 figures at
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The target audience of the facial recognition market report is given below:
1. Government agencies
2. Facial recognition solutions/services vendors
3. Application developers
4. IT managers
5. System integrators
6. Application end-users
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The study answers several questions for the stakeholders, primarily, which market segments to focus on in the next 2 to 5 years for prioritizing efforts and investments.
“North America is expected to witness the highest growth during the forecast period”
Among the 5 regions, North America is expected to have the largest market size in the facial recognition market during the forecast period. In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the facial recognition market.
1. By Company Type: Tier I:18%, Tier II:48%, and Tier III:34%
2. By Designation:C-Level:22%, Director Level:43%, and Others:35%
3. By Region: North America:23%, Europe: 48%, APAC:16%, and MEA: 13%
The facial recognition market is segmented on the basis of components (software tools and services), technologies, use cases (emotion recognition, attendance tracking and monitoring, access control, law enforcement, and others), end-users, and regions.
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The 3D facial recognition technology uses 3D geometric features of the human face, which are compared with the images stored in the database. The increased need for enhanced surveillance and monitoring at public places and the increase in the use of facial recognition technologies in industries, such as the government are said to be driving the facial recognition market growth. In the facial recognition market, the training and consulting services segment include feasibility assessment, analysis, and advisory of large-scale governmental and military projects. It also includes requirement gathering, biometric security design, technology evaluation, and validation of biometric features. Several leading service providers offer training and consulting services in the facial recognition market.
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Facial recognition software and services are predominantly applied at the premises where enforcement, surveillance, and monitoring of the facial detection law is needed. Facial recognition technologies are capable of recognizing faces in real-time using webcam; providing accurate gender information; detecting age, mood, and other features; and searching faces from the database. The demand for the software is expected to have increased, due to the increasing data breaches and the enterprises’ growing need to save resources from unauthorized access.
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