Face Recognition Systems to redefine its Growth Path | Eyeing Multi-Billion Dollar Market in Near Future, Research Says
Currently, the market is primarily driven by robust technological advancements for development of efficient surveillance systems required by civil and government agencies. This is due to rising instances of criminal and terrorist activities and identification of fraud cases across the globe. Moreover, facial recognition systems that can scan images in all environmental conditions are being developed using 3D facial recognition technology. This would help overcome the barriers of 2D facial recognition technology that include light and pose deflections of the object. However, restrictions on users to share their personal details i.e. covert monitoring of an individual, is expected to hinder the market growth. Furthermore, increased adoption of facial recognition in web applications for picture tagging, social interaction, and others is expected to drive the demand for facial recognition in future.
The global facial recognition market is analyzed on the basis of parameters such as type of technology, end-use industry and geographic regions. Of the different technology types, the 2D facial recognition technology segment contributed a significant revenue share about 59.67% in the global market in 2016. This is due to the adoption and acceptance of 2D facial recognition technology in surveillance, which is primarily due to its low cost and easy installation using existing cameras. The market for 3D facial recognition technology, that offers better and accurate results, is expected to record steady growth as compared to 2D technology. Furthermore, the facial recognition market is witnessing development of facial analytics systems that help generate descriptive metadata about a given face, apart from simple identification. This has resulted in the use of facial recognition technique as both identification and authentication tools.
In 2018, the global Face Recognition Systems market size was 530 million US$ and it is expected to reach 1430 million US$ by the end of 2025, with a CAGR of 13.2% during 2019-2025.
Face Recognition Systems Market Overview:
If you are involved in the Face Recognition Systems industry or intend to be, then this study will provide you comprehensive outlook. It’s vital you keep your market knowledge up to date segmented by Emotion Recognition, Law Enforcement, Surveillance, and Monitoring & Others, , 2D Face Recognition, 3D Face Recognition & Thermal Face Recognition and major players. If you have a different set of players/manufacturers according to geography or needs regional or country segmented reports we can provide customization according to your requirement.
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Face Recognition Systems Market: Demand Analysis & Opportunity Outlook 2023
Research study is to define market sizes of various segments & countries in previous years and to forecast the values to the next 5-8 years. The report is designed to comprise each qualitative and quantitative elements of the industry facts including: market share, market size (value and volume 2012-17, and forecast to 2023) with admire to each of the areas and countries concerned inside the examination. Furthermore, the report additionally caters the detailed statistics about the vital elements which includes drivers & restraining factors which will define the future growth of the market.
Furthermore, the years considered for the study are as follows:
Historical year – 2013-2017
Base year – 2018
Forecast period** – 2018 to 2023 [** unless otherwise stated]
Moreover, it will also include the opportunities available in micro markets for stakeholders to invest, detailed analysis of competitive landscape and product services of key players.
The designated segments and sub-section of the market are explained below:
The Study is segmented by following Product Type: , 2D Face Recognition, 3D Face Recognition & Thermal Face Recognition
Major applications/end-users industry are as follows: Emotion Recognition, Law Enforcement, Surveillance, and Monitoring & Others
Some of the key Manufacturers Involved in the Market are – NEC Corporation, Safran Group, Gemalto, Ayonix, Crossmatch Technologies & Aware Inc
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For each region, market size and end users are analyzed as well as segment markets by types, applications and companies. If opting for the Global version of Face Recognition Systems Market analysis is provided for major regions as follows:
• North America (USA, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Columbia etc.)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Key Answers Captured in Study are
Which geography would have better demand for product/services?
What are the strategies adopted by big players in the regional market?
Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
What is the current & expected market size in next five years?
What is the market feasibility for long term investment?
What opportunity the country would offer for existing and new players in the Face Recognition Systems market?
What is risk involved for suppliers in the geography?
What factors would drive the demand for the product/service in near future?
What is the impact analysis of various factors in the Global Face Recognition Systems market growth?
What are the recent trends in the regional market and how successful they are?
Read Detailed Index of full Research Study at @ https://www.htfmarketreport.com/reports/1676633-global-face-recognition-systems-market-7
There are 15 Chapters to display the Global Face Recognition Systems market.
Chapter 1, About Executive Summary to describe Definition, Specifications and Classification of Global Face Recognition Systems market, Applications [Emotion Recognition, Law Enforcement, Surveillance, and Monitoring & Others], Market Segment by Regions United States, Europe, China, Japan, Southeast Asia, India & Central & South America;
Chapter 2, objective of the study.
Chapter 3, to display Research methodology and techniques.
Chapter 4 and 5, to show the Overall Market Analysis, segmentation analysis, characteristics;
Chapter 6 and 7, to show the Market size, share and forecast; Five forces analysis (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 8 and 9, to show analysis by regional segmentation[United States, Europe, China, Japan, Southeast Asia, India & Central & South America ], comparison, leading countries and opportunities; Regional Marketing Type Analysis, Supply Chain Analysis
Chapter 10, focus on identifying the key industry influencer’s, overview of decision framework accumulated through Industry experts and strategic decision makers;
Chapter 11 and 12, Market Trend Analysis, Drivers, Challenges by consumer behaviour, Marketing Channels and demand & supply.
Chapter 13 and 14, describe about the vendor landscape (classification and Market Positioning)
Chapter 15, deals with Global Face Recognition Systems Market sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.
Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe or Asia or Oceania [Australia and New Zealand].
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