Face Recognition Technology Market 2020 : NEC Corporation, Aware, Gemalto, Ayonix Face Technologies

According to the predictions made in the latest report by Quince Market Insights, an increasing demand from medical & healthcare and military & defense for various applications is expected to drive market growth of the facial recognition technology market during the forecast period. Facial recognition is a biometric technology used for confirmation and identification of an individual by comparing the facial features from a picture with the stored facial database. Face-recognition technology is currently being used for safety and marketing purposes. For example, bulletins have been designed with built-in software to distinguish between sex, age, and other characteristics. In addition, facial recognition services are used to advise large-scale government and military projects. In addition, it includes gathering information, designing biometric security, evaluating technology, and validating biometric features. Face recognition technology is now also used as a security tool in mobiles.

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The global facial recognition technology market is growing with the increasing demand for advanced security and surveillance systems in the government and defense sectors. Moreover, increasing crime and terrorist activities are emphasizing on the need for facial recognition systems. Also, advancements in smartphone technology have resulted in the inclusion of facial recognition features in these gadgets.

Significant Factors Impacting Market Growth:

o Increased need for advanced surveillance and monitoring technology at public places
o Increasing adoption of multimodal biometric systems
o High investment from government to improve security
o High set-up cost for facial recognition technology
o Insufficient technology in the underdeveloped and remote region

Regional segmentation and analysis to understand growth patterns:

By region, the facial recognition technology market is estimated to be dominated by North America, Western Europe, and Asia Pacific during the forecast period. With technological advancements and cluster of global companies operating in these regions, these regions hold key to the growth and development of facial recognition technology market during the forecast period. In these regions, most of the leading companies have operations to cater for the potential end users in the respective region.

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The facial recognition technology market in North America is further segmented by the US, Canada, and Mexico, while it is estimated that Germany, the UK, France, and Italy are major markets in Western Europe. China, Japan, South Korea, India and Australia are segmented into Asia Pacific region. During the forecast time period, Middle East and Eastern Europe are estimated to be potential markets with increasing demand. In these regions, the major countries include Russia, the UAE, Saudi Arabia, Israel and others.

Companies Covered: NEC Corporation, Aware, Gemalto, Ayonix Face Technologies, Cognitec Systems GmbH, NVISO SA, Daon, StereoVision Imaging, Techno Brain, Neurotechnology, Innovatrics, id3 Technologies, IDEMIA, Animetrics, MEGVII, Idemia, Gemalto NV, Ayonix Corporation, Herta Security, Keylemon SA., Cross Match Technologies, ZK Software, Safran Group (Morpho S.A.), FaceFirst LLC, 3M Cogent Inc., and Animetrics Inc.

Market Segmentation:

By Technology:
o 2D Facial Recognition
o 3D Facial Recognition
o Facial Analytics

By Component:
o Software
o Hardware
o Services

By Application:
o Law Enforcement
o Border Security
o Emotion Recognition
o Attendance Tracking & Monitoring
o Access Control
o Homeland Security
o Criminal Investigation
o Identity Management
o Physical Security
o Intelligent Signage
o Photo Indexing & Sorting
o Business Intelligence
o Others

By End User:
o Government
o Medical & Healthcare
o Commercial
o Military & Defense
o Others

By Region:

o North America
o By Country (US, Canada, Mexico)
o By Technology
o By Component
o By Application
o By End User

o Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Technology
o By Component
o By Application
o By End User

o Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Technology
o By Component
o By Application
o By End User

o Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Technology
o By Component
o By Application
o By End User

o Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Technology
o By Component
o By Application
o By End User

o Rest of the World
o By Region (South America, Africa)
o By Technology
o By Component
o By Application
o By End User

Contact:
Quince Market Insights
Ajay D. (Knowledge Partner)
Office No- A109
Pune, Maharashtra 411028
Phone: +91 - 9850603687 / 7972869557
Email: sales@quincemarketinsights.com
Web: www.quincemarketinsights.com

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This release was published on openPR.