Press release
Facial Recognition Market is Expected to Reach $9.6 Billion by 2022 | CAGR 21.3%
Facial Recognition Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $9.6 billion by 2022, registering a CAGR of 21.3% during the period 2016-2022. Facial recognition is a biometric technology that selects facial features of an individual and compares them with an available database to provide identification and authorization. North America is expected to dominate the market throughout the forecast period, owing to the high expenditure on security systems by government agencies in the region.Request a Sample of the Report: https://www.alliedmarketresearch.com/request-sample/794
Facial recognition technologies include 2D, 3D, and facial analytics. The 3D facial recognition technology segment holds a significant share in thefacial recognition market, owing to its high accuracy in terms of recognizing facial features as compared to the 2D facial recognition technology. This segment is expected to witness the fastest growth rate during the forecast period. 2D technology is also widely used due to its low installation cost and operational ease as it uses 2D appearance recognition.
Among the component segments, hardware accounted for the maximum revenue share in 2015, owing to high cost of 2D and 3D cameras. The facial recognition software market is estimated to grow at a CAGR of 23.9% during the forecast period. Development of effective and efficient facial recognition software applications is expected to drive this market.
Facial recognition is primarily used for security purposes, the major ones being homeland security, criminal investigation, ID management, and physical security. However, in the recent years, this technology is also being increasingly used for targeted advertising and marketing purposes, particularly in the retail sector. This is accomplished through the use of intelligent signage; a digital signage solution with facial recognition capabilities, which enables the retailers to offer tailored messages to the buyers. In the year 2015, homeland security contributed the highest revenue share, accounting for around 21% of the overall market revenue. From a growth perspective, intelligent signage is likely to be the most prominent application of facial recognition, anticipated to witness the highest CAGR of 25.1% during the forecast period.
For more details, visit: https://www.alliedmarketresearch.com/facial-recognition-market
North America offers lucrative opportunities for market growth, exhibiting a huge demand of facial recognition technology for homeland security and criminal investigation. However, Asia-Pacific is expected to be the fastest growing region, owing to wide use of facial recognition technology in countries such as China, Japan and Australia across various sectors such as defense, law enforcement, physical security, and retail.
Key findings for Facial Recognition Market:
• 3D facial recognition technology is expected to lead the market throughout the forecast period.
• Hardware held a larger share in the component segment in 2015, and is expected to dominate the market during the forecast period.
• Asia-Pacific constituted nearly 23% of the total market revenue in 2015 and is anticipated to be the fastest growing region over the forecast period.
• In the year 2015, homeland security contributed the highest revenue, accounting for around 21% of the overall market revenue. This segment is expected to maintain its dominance throughout the forecast period.
Some of the leading players in the facial recognition market include Cognitec Systems GmbH, NEC Corporation, FaceFirst, Inc., and 3M amongst others. These players have adopted product development, acquisitions, agreements, and partnerships as their key strategies to strengthen their market position and expand their geographical presence. For instance, in 2015, Cognitec Systems GmbH launched and incorporated a superior version of the face recognition algorithm B9 in FaceVACS-DBScan, one of the its leading facial recognition products.
Check offers and discount on this report: https://www.alliedmarketresearch.com/get-discount/794
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
Shriram Dighe
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1?855?550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Facial Recognition Market is Expected to Reach $9.6 Billion by 2022 | CAGR 21.3% here
News-ID: 1198663 • Views: …
More Releases from Allied Market Research

Global Urinary Drainage Bags Market: Trends, Growth, and Insights to 2031
The global urinary drainage bags market is experiencing robust growth, with its market size valued at $1.4billion in 2021 and projected to reach $2billion by 2031. This expansion represents a compound annual growth rate (CAGR) of 3.8% from 2021 to 2031, highlighting the increasing demand for these essential medical devices.
Get a Sample Copy of this Report: https://www.alliedmarketresearch.com/request-sample/A17529
What Are Urinary Drainage Bags?
Urinary drainage bags are specialized medical devices designed to collect…

Cream Powder Market to Reach $8.9 Billion by 2031 with 6.4% CAGR
The global cream powder industry was estimated at $4.8 billion in 2021 and is expected to hit $8.9 billion by 2031, registering a CAGR of 6.4% from 2022 to 2031.
The cream powder market is experiencing growth due to various factors, including the increasing popularity of bakeries and HoReCa (hotels, restaurants, and cafes) and rising consumer demand for natural products. The dairy-based segment is a significant contributor to the market's growth…

Micro Drone Market Valued at $6.71 Billion in 2020, Expected to Reach $28.91 Bil …
The global micro drone industry generated $6.71 billion in 2020, and is expected to reach $28.91 billion in 2030, witnessing a CAGR of 17.2% from 2021 to 2030. The report provides an extensive analysis of changing market dynamics, top segments, top investment pockets, regional landscape, value chain, and competitive scenario.
Increased operational efficiency and rise in demand for improved surveillance drive the growth of the global micro drone market. However, strict…

Microwavable Foods Market to reach $230.93 billion by 2031, growing at a CAGR of …
The global microwaveable foods industry was accounted for $120.45 billion in 2020, and is expected to reach $230.93 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.
Rise in popularity of fast-food restaurants and large population base coupled with increase in number of quick-service restaurants drive the global microwaveable foods market. However, lack of awareness about microwavable foods hinders the market growth. On the contrary, rise in…
More Releases for AMR
The 73rd AMR China International Auto Parts Exhibition
Exhibition Introduction
With the further recovery of the economy, consumer confidence has been boosted and gradually restored. China's automobile industry has shown strong resilience in the ever-changing market environment and ushered in an important period of opportunity for transformation, upgrading and high-quality development.
As a highly influential automotive aftermarket industry event in northern China, especially in the Beijing-Tianjin-Hebei region, the AMR China International Automotive Maintenance, Inspection and Diagnosis Equipment, Parts and Beauty…
Yeast Ingredients Market Booming $6.6Bn by 2032 | AMR
According to a new report published by Allied Market Research, titled, "Yeast Ingredients Market," The yeast ingredients market was valued at $2.9 billion in 2022, and is estimated to reach $6.6 billion by 2032, growing at a CAGR of 8.8% from 2023 to 2032.
𝐀𝐜𝐜𝐞𝐬𝐬 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲: https://www.alliedmarketresearch.com/request-sample/A323211
Yeast ingredients find extensive applications across diverse sectors including food & beverage, pharmaceuticals, and animal feed owing to their multifaceted properties. Despite…
Sustainability LIVE Dubai: Amr Kandil, Schneider Electric
Amr Kandil, MEA Director of Real Estate segment and New Energy Landscape at Schneider Electric to speak at Sustainability LIVE Dubai - 15 May 2024
Connecting the world's sustainability leaders, Sustainability LIVE will be returning in 2024 to bring the biggest global businesses together to deliver insightful keynotes, fireside chats, and panel discussions sharing valuable knowledge and real-world experiences.
The ultimate virtual event for sustainability and ESG leaders in the Middle East…
AGV & AMR in Logistics Market Automated Guided Vehicles (AGV) and Autonomous Mob …
The Report on "AGV & AMR in Logistics Market" provides Key Benefits, Market Overview, Regional Analysis, Market Segmentation, Future Trends Upto 2030 by Infinitybusinessinsights.com. The report will assist reader with better understanding and decision making.
Market Growth of AGV & AMR in Logistics Market: The AGV & AMR in Logistics market is experiencing robust growth driven by the increasing need for automated and efficient material handling in logistics and warehousing. Market…
The Growing Importance of the Cephalosporin Market | By AMR
Allied Market Research recently said Cephalosporins are a group of antibiotics that have been widely used in the medical industry for over 50 years. They were first discovered in 1945 by Dr. Giuseppe Brotzu, an Italian scientist, and were initially used to treat staphylococcal infections. Today, cephalosporins are used to treat a wide range of bacterial infections and are considered one of the most important classes of antibiotics.
♦ 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞…
UGV Adoptions boost Global Autonomous Mobile Robots (AMR) Market
Inkwood Research expects the Global Autonomous Mobile Robots (AMR) Market to surge with a 21.31% CAGR during the forecast years between 2022 and 2030, generating $14473.73 million in revenue by 2030.
Browse 45 market Data Tables and 43 Figures spread over 224 Pages, along with an in-depth analysis of the Global Autonomous Mobile Robots (AMR) Market by Robot Type, End-User, & Geography.
This insightful market research report by Inkwood Research focuses on…