United States Facial Recognition Market Disclosing Latest Developments and Technology Advancements to 2026 - Panasonic Corporation, Thales Group, NEC Corporation

The “United States Facial Recognition Market” Research Report 2021-2026 is an in-depth study of the market, along with an analysis of its key segments. The relationship is built through extensive primary and secondary research. In-depth market data is generated through interviews and data collection from industry experts and professionals. The study is a detailed document on key aspects of the markets including trends, segmentation, growth prospects, opportunities, challenges, and competitive analysis.

The United States Facial Recognition Market is expected to reach a CAGR of 14.3% during the forecast period (2021 - 2026).

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The research report is a compilation of key data with regards to the competitive landscape of this vertical and the multiple regions where the business has successfully established its position.

Top Companies in the United States Facial Recognition Market: Panasonic Corporation, Gemalto NV (Thales Group), NEC Corporation, Cognitec Systems GmbH, Aware Inc., Clearview AI Inc., Animetrics Inc., Ayonix Corporation, Face First Inc., Idemia France SAS, Daon Inc., BioID Inc., Veritone Inc., and Other.

Industry News and Update:

- January 2020 - FaceFirst, the leading U.S. computer vision company, announced that its SDK (Software Development Kit) will now be available, enabling developers of security and identity verification products to incorporate advanced facial recognition and other video analytics into their solutions with just a few lines of code.

- November 2019 - NEC Corporation announced the conclusion of a global cybersecurity agreement with the International Criminal Police Organization (INTERPOL). This alliance will replace an existing contract that was formed in 2014. The combination of INTERPOL's international network with NEC's cutting-edge cybersecurity solutions will help the investigation and analysis of complex and sophisticated crime at the international level. This partnership with an international body will help the company to create more opportunities for facial recognition solutions as well.

Key Market Trends:

Increasing Demand for Surveillance Systems to Enhance Safety and Security

- The demand for surveillance as part of access control is on the rise in the private sector, the level of authentication offered by facial recognition in the space is driving the demand. Enterprises are using technology as a means to ensure only authorized individuals get into facilities such as bank vaults, training centers, board rooms, server rooms, and other sensitive locations.

- Moreover, the most significant facial recognition surveillance system in the region is operated by the FBI. The FBI’s ID system maintains a facial recognition database with images of more than 117 million Americans. The FBI conducts, on average, 4,055 searches every month to identify individuals with facial recognition systems. ?The US Customs and Border Protection is using a facial recognition system to identify and stop criminals and terrorists at the border. Its new facial comparison biometric system looks at the traveler and compares them to the passport photo.

- In recent times, face recognition has been improved with the use of matching algorithms and neural networks to help in preventing criminal and terrorist activities. For instance, Virginia Beach was recently awarded a grant that will allow cameras to be installed to capture potential criminals and to find missing children, as well as Tampa, Florida is currently making the use of face recognition systems in its popular tourist areas, such as parks and airport arena for security purposes.

- However, the privacy debate around facial recognition is hindering the market growth. In March 2020, the American Civil Liberties Union (ACLU) filed a lawsuit against the Department of Homeland Security (DHS) because of its use of facial recognition technology at airports. Similarly, California, in September, passed a bill to ban the use of facial recognition-equipped cameras by law enforcement.

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What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a United States and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: The United States Facial Recognition Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

The research includes historic data from 2015 to 2021 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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