Global Face Recognition Systems Market will surge at 13.0% CAGR to reach 1100 million USD by the end of 2024

The report represents the statistical data in the form of tables, charts, and info-graphics to assess the market, its growth and development, and market trends of the Global Face Recognition Systems during the projected period.

The global Face Recognition Systems market is valued at 530 million USD in 2018 and is expected to reach 1100 million USD by the end of 2024, growing at a CAGR of 13.0% between 2019 and 2024.

This report studies the Face Recognition Systems market, a face recognition system is a computer application capable of identifying or verifying a person from a digital image or a video frame from a video source. One of the ways to do this is by comparing selected facial features from the image and a face database.

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The research report focuses on the leading competitors of the Global Face Recognition Systems and provides information such as the company overview, product portfolio, key developments production, and contact information. The report also analyses the current development trends and patterns, as well as the distribution and marketing channel.

Major players in the Global Face Recognition Systems market are
• NEC Corporation
• Safran Group
• Gemalto
• Ayonix
• Crossmatch Technologies
• Aware Inc

Geographically, Face Recognition Systems Market report studies the top producers and consumers, focuses on product capacity, production, value, consumption, market share and growth opportunity in these key regions, covering:
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Colombia)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

On the basis of product, Global Face Recognition Systems report displays the production, revenue, price, and market share and growth rate of each type, primarily split into:
• 2D Face Recognition
• 3D Face Recognition
• Thermal Face Recognition

On the basis of the end users/applications, Global Face Recognition Systems report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate for each application, including:

• Emotion Recognition
• Law Enforcement, Surveillance, and Monitoring
• Others

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Scope of the Global Face Recognition Systems Report

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.

The global Face Recognition Systems market is valued at 530 million USD in 2018 and is expected to reach 1100 million USD by the end of 2024, growing at a CAGR of 13.0% between 2019 and 2024.

The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Face Recognition Systems.

Europe also play important roles in global market, with market size of xx million USD in 2019 and will be xx million USD in 2024, with a CAGR of xx%.
This report studies the Face Recognition Systems market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Face Recognition Systems market by product type and applications/end industries.

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