Facial Recognition Market by Application: Law Enforcement, Access Control, Emotion Recognition | Region - Global Forecast to 2025

The global facial recognition market size is expected to grow from an estimated value of USD 3.8 billion in 2020 to USD 8.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 17.2% from 2020 to 2025. 

ReportsnReports added Facial Recognition Market Research Report created by Report Consultant, which offers detailed insights, revenue details, and other information regarding the global market, and the various trends, drivers, restraints, opportunities, and market till 2028. Facial Recognition Market Report offers detailed information regarding the leading key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions and mergers, and market footprint. Facial Recognition Market also provides a comparative analysis of the market dynamics pre and post Covid19 outbreak.

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Top Company Profile Analysis in this Report-
NEC Corporation (NEC) (Japan), Aware, Inc. (Aware) (US), Ayonix Corporation (Ayonix) (Japan), Cognitec Systems GmbH (Cognitec Systems) (Germany), NVISO SA (nViso) (Switzerland), Animetrics (US), Neurotechnology (Lithuania), Daon (Ireland), Stereovision Imaging, Inc. (SVI) (US), Techno Brain (Dubai), Innovatrics (Bratislava), id3 Technologies (id3) (Israel), Thales (France), Idemia (France), Nuance Communications, Inc. (Nuance) (US), BioID (Germany), Fulcrum Biometrics, LLC. (Fulcrum Biometrics) (US), TrueFace.AI (US), Amazon (US), FacePhi (Spain), Herta Security (Herta) (Spain), Kairos AR, Inc. (Kairos) (US), SightCorp Inc. (SightCorp) (The Netherlands), and Microsoft Corporation (Microsoft) (US).

The market study covers the facial recognition market size across segments. It aims at estimating the market size and growth potential of this market across different segments: by type, by component, by deployment, by organization size, by vertical and by region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

The facial recognition market is driven by various factors, such as the Growing importance of the surveillance industry, increasing investments in facial recognition technologies by government and defense sectors and increased technological advancements across industry verticals to boost the growth of facial recognition market across the globe during the forecast period. However, Facial occlusion and facial detection error, and Lack of knowledge and awareness, leading to technical challenges, are major challenges for the facial recognition market.

Services are provided by facial recognition software providers that help in implementing the solution without purchasing it. Services are further classified into training and consulting and cloud-based facial recognition. In training and consulting services, feasibility assessment, analysis, and advisory of large-scale governmental and military projects are all included. Features of cloud-based facial recognition services include time tracking, gender recognition, head pose estimation and analytics, and statistical overview related to the buying patterns are included

Biometric access control is the perfect solution for controlling user access to physical locations, such as buildings, offices, data centers, and restricted areas. Face biometrics is used to identify a user from access control lists and verify his/her identity. Facial recognition-based access control promotes user management at runtime and enables users to be enrolled on-the-fly by video capture. Moreover, it does not enable users to be impersonated using photographs. Access control is a solution that is required in all fields and scales as a basic element of security. From research institutes, data centers, and secure areas to factories, apartments, offices, construction sites, hospitals, schools, and banks, it is widely used at places that are trying to physically protect property or information from unauthorized people.

Though the use of fingerprints has been preferred and is the most popular biometrics for access control; the availability of the number of choices for credentials using biometrics has bolstered the growth of facial recognition technology for access control. Moreover, added features of liveliness detection further substantiate the authenticity of using facial recognition-based access control solutions. The facial recognition-based access control solution is being widely adopted by military facilities, government and corporate buildings, R&D areas, and other secured locations, for fast and seamless convenience in validation of identity, while providing an additional layer of security beyond keys, fobs, and access cards. This application has also been a great success to avoid queues for VIPs and in busy airports for lounge access, event arenas, or stadiums.

The facial recognition market in Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. North America accounts for the highest share (33.07%) of the facial recognition market in 2020. The factors supplementing this growth are the Organic and inorganic growth strategies among major application security vendors in North America such as NEC, Aware, Thales, Nuance, Microsoft, Amazon, Gemalto, Ayonix, Idemia, Cognitec, nViso, Daon.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the facial recognition market.

By company type: Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
By designation: C-level: 40%, Manager and Other: 60%
By region: North America: 20%, Europe: 35%, APAC: 45%

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Key benefits of buying the Report-
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall facial recognition market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

Table of Contents in this Reports-
1 INTRODUCTION
1.1 INTRODUCTION TO COVID-19
1.2 COVID-19 HEALTH ASSESSMENT
FIGURE 1 COVID-19: GLOBAL PROPAGATION
FIGURE 2 COVID-19 PROPAGATION: SELECT COUNTRIES
1.3 COVID-19 ECONOMIC ASSESSMENT
FIGURE 3 REVISED GROSS DOMESTIC PRODUCT FORECASTS FOR SELECT G20 COUNTRIES IN 2020
1.3.1 COVID-19 ECONOMIC IMPACT—SCENARIO ASSESSMENT
FIGURE 4 CRITERIA IMPACTING GLOBAL ECONOMY
FIGURE 5 SCENARIOS IN TERMS OF RECOVERY OF GLOBAL ECONOMY
1.4 OBJECTIVES OF THE STUDY
1.5 MARKET DEFINITION
1.5.1 INCLUSIONS AND EXCLUSIONS
1.6 MARKET SCOPE
1.6.1 MARKET SEGMENTATION
1.6.2 REGIONS COVERED
1.7 YEARS CONSIDERED FOR THE STUDY
1.8 CURRENCY CONSIDERED
TABLE 1 UNITED STATES DOLLAR EXCHANGE RATE, 2014–2019
1.9 STAKEHOLDERS
1.10 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 6 FACIAL RECOGNITION MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.2 PRIMARY DATA
2.1.2.1 Breakup of primary profiles
2.2 MARKET BREAKUP AND DATA TRIANGULATION
2.3 MARKET SIZE ESTIMATION
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY - APPROACH 1 (SUPPLY SIDE): REVENUE OF SOFTWARE TOOLS AND SERVICES OF THE MARKET
FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY—APPROACH 1— BOTTOM-UP (SUPPLY SIDE): COLLECTIVE REVENUE OF ALL SOFTWARE TOOLS AND SERVICES OF MARKET
FIGURE 9 MARKET SIZE ESTIMATION METHODOLOGY—APPROACH 2—BOTTOM-UP (DEMAND SIDE): PRODUCTS/SOLUTIONS/SERVICES
2.4 MARKET FORECAST
FIGURE 10 FACTOR ANALYSIS
2.5 ASSUMPTIONS FOR THE STUDY
2.6 LIMITATIONS OF THE STUDY

3 EXECUTIVE SUMMARY
TABLE 2 FACIAL RECOGNITION MARKET SIZE AND GROWTH, 2014–2019 (USD MILLION, Y-O-Y %)
TABLE 3 PRE-COVID-19: MARKET SIZE AND GROWTH, 2019–2025 (USD MILLION, Y-O-Y %)
TABLE 4 POST-COVID-19: MARKET SIZE AND GROWTH, 2019–2025 (USD MILLION, Y-O-Y %)
FIGURE 11 NORTH AMERICA TO ACCOUNT FOR THE HIGHEST MARKET SHARE IN 2020
FIGURE 12 SEGMENTS WITH THE HIGHEST CAGRS IN THE MARKET DURING THE FORECAST PERIOD

4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES IN THE FACIAL RECOGNITION MARKET
FIGURE 13 GROWING IMPORTANCE OF THE SURVEILLANCE INDUSTRY TO BOOST THE MARKET GROWTH
4.2 MARKET, BY COMPONENT, 2020
FIGURE 14 SOFTWARE TOOLS SEGMENT TO HOLD A LARGER MARKET SIZE DURING THE FORECAST PERIOD
4.3 MARKET, BY SOFTWARE TOOL, 2020
FIGURE 15 2D FACIAL RECOGNITION SEGMENT TO HOLD THE LARGEST MARKET SIZE DURING THE FORECAST PERIOD
4.4 MARKET, BY SERVICE, 2020
FIGURE 16 TRAINING AND CONSULTING SEGMENT TO HOLD A HIGHER MARKET SHARE DURING THE FORECAST PERIOD
4.5 FACIAL RECOGNITION MARKET, SHARE OF TOP THREE VERTICALS AND REGIONS, 2020
FIGURE 17 GOVERNMENT AND DEFENSE VERTICAL AND NORTH AMERICA TO HAVE THE HIGHEST MARKET SHARE IN 2020
4.6 MARKET INVESTMENT SCENARIO
FIGURE 18 ASIA PACIFIC TO EMERGE AS THE BEST MARKET FOR INVESTMENTS IN THE NEXT FIVE YEARS

5 MARKET OVERVIEW AND INDUSTRY TRENDS
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 19 FACIAL RECOGNITION MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Growing importance of the surveillance industry
5.2.1.2 Increasing investments in facial recognition technologies by government and defense sectors
5.2.1.3 Increasing technological advancements across industry verticals
5.2.1.4 COVID-19 Impact
5.2.2 RESTRAINTS
5.2.2.1 Privacy concerns related to the adoption of facial recognition technologies
5.2.2.2 Difficulty in countering legal risks and eDiscovery
5.2.2.3 COVID-19 Impact
5.2.3 OPPORTUNITIES
5.2.3.1 Adoption of the cloud-based facial recognition technology
5.2.3.2 Emerging applications for facial recognition technology
5.2.3.3 COVID-19 Impact
5.2.4 CHALLENGES
5.2.4.1 Facial occlusion and facial detection error
5.2.4.2 Lack of knowledge and awareness leading to technical challenges
5.2.4.3 COVID-19 Impact
5.2.5 COVID-19 PANDEMIC-DRIVEN MARKET DYNAMICS AND FACTOR ANALYSIS
5.2.5.1 Drivers and Opportunities
5.2.5.2 Restraint and Challenges
5.3 USE CASES
5.3.1 USE CASE: ZENUS
5.3.2 USE CASE: SIGNICAT
5.3.3 USE CASE: NEC
5.4 REGULATORY LANDSCAPE
5.4.1 GENERAL DATA PROTECTION REGULATION
5.4.2 FEDERAL INFORMATION PROCESSING STANDARDS
5.4.3 ESSB 6280
5.4.4 PERSONAL INFORMATION PROTECTION AND ELECTRONIC DOCUMENTS ACT
5.5 FACIAL RECOGNITION MARKET ECOSYSTEM
FIGURE 20 ECOSYSTEM: MARKET
5.6 FACIAL RECOGNITION SYSTEM ANALYSIS, BY STAKEHOLDER
5.6.1 TECHNOLOGY PROVIDERS
5.6.2 SYSTEM INTEGRATORS
5.6.3 RESELLERS
5.6.4 MANAGED SERVICE PROVIDERS
5.7 PRICING MODEL ANALYSIS
5.8 TECHNOLOGY ANALYSIS

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