Facial Recognition Market Value USD 1.11 billion, CAGR to 2025 Estimated at 23.1% by Valuates Reports
The global market for facial recognition is in the process of growth. In 2016, the face recognition market value reached USD 1.11 billion. The CAGR (Compound Annual Growth Rate) from 2017 to 2025 of the market is estimated at 23.1%, the highest of all biometric identification technology in terms of the growth rate.
In the past, face recognition technology was mostly used in commercial applications such as airport automated border control e-gates and access control systems for businesses. It is not until Apple introduced Face ID, a facial recognition technology to unlock iPhones, face recognition technology has started to gain increasing market attention. This report provides an overview of the facial recognition market and identifies key market characteristics that are observed thus far to look for possible investment opportunities.
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Table of Contents
2. Rapid Application Development to Drive Markt Demand Growth
3. Diverse Competitive/Alternative Technologies Proliferating
3.1 Competitive Technology Continues to Evolve in Fast Response to Market Demands
4. US and Japan Have the Strongest R&D Strength, China Catching Up Fast
5. Tech Giants Initiate M&A Deals Worldwide
5.1 Facial Recognition is IT Investment Hotspot
6. Diverse Supply Chains and Blurrier Upper and Lower Boundaries
7. Applications Diversifies and Cross Industry Demand Gap Widens
List of Figures
Figure 1 Global Facial Recognition Market Value, 2016 - 2025
Figure 2 Comparison of Biometric Identification Technologies
Figure 3 Patent Grants by Geographic Origin (In Order of Application Year)
Figure 4 The Top 10 Patent Applicants' Application Trends (In Order of Application Year)
Figure 5 Mergers and Acquisitions of the Global Facial Recognition Industry
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