Facial Recognition Market Expected to Rise at 17.2% CAGR during 2021-2026

According to the latest report by IMARC Group, titled "Facial Recognition Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global facial recognition market size reached US$ 3.80 Billion in 2020. Facial recognition is a biometric technology that is widely deployed for the authentication and identification of individuals. This technology compares the facial features of a person with the stored facial database using deep learning algorithms. It assists in capturing, analyzing and comparing patterns in an efficient manner to facilitate a non-contact process for authentication without the need for physical contact for verification. It can be widely integrated with numerous advanced technologies to safeguard an infrastructure in a better manner. Consequently, it is increasingly utilized as a key security component in criminal investigations, identity management, homeland security, intelligent signage and photo indexing.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Get a sample copy of this Report: https://www.imarcgroup.com/facial-recognition-market/requestsample

Global Facial Recognition Market Trends:

The global market is majorly driven by the rising incidences of terrorist activities, identity thefts and cyber-attacks. Facial recognition is widely deployed for high-level security and smart surveillance systems across public and private sectors, thereby providing an impetus to the market growth. These recognitions are also being integrated with multi-factor authentication systems to offer enhanced security for sensitive data, which is acting as a major growth-inducing factor. Additionally, continual technological advancements, including the development of 3D recognition systems to recognize faces from several viewing angles and precisely determine changes in facial characteristics, are also contributing to the market growth. Moreover, these systems are increasingly being used in the healthcare sector to replace passwords and provide healthcare providers a relatively quicker access to the patients and their records. Some of the other factors favorably impacting the market growth include the rising adoption of cloud-based surveillance systems and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 17.2% during 2021-2026.

View Full Report with TOC & List of Figure: https://www.imarcgroup.com/facial-recognition-market

Competitive Landscape with Key players:

The report has also analysed the competitive landscape of the market with some of the key players being.

3M Company
Animetrics Inc.
Aware Inc.
Ayonix Corp­oration
Cognitec Systems GmbH
Daon Inc.
FaceFirst Inc.
FacePhi Biometria
IDEMIA (Advent International)
NEC Corporation
Safran Group
Thales Group

Facial Recognition Market Segmentation:

Our report has categorized the market based on region, component, technology, application and end use industry.

Market Breakup by Component:

Software
Services

Market Breakup by Technology:

2D Facial Recognition
3D Facial Recognition
Facial Analytics

Market Breakup by Application:

Emotion Recognition
Attendance Tracking and Monitoring
Access Control
Security and Surveillance
Others

Market Breakup by End Use Industry:

Retail and E-commerce
BFSI
Government and Defense
Automotive and Transportation
Media and Entertainment
Healthcare
Telecom and IT
Others

Market Breakup by Region:

North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

Market Performance (2015-2020)
Market Outlook (2021-2026)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

We are updating our reports, If you want latest primary and secondary data (2021-2026) with Cost Module, Business Strategy, Competitive landscape, etc. Click request free sample report, the report will be delivered to you in PDF format via email within 24 to 48 hours after the payment confirmation.

Other Related Reports:

Led Tube Light Market: https://www.imarcgroup.com/led-tube-light-manufacturing-plant

Led Flood Light Market: https://www.imarcgroup.com/led-flood-light-manufacturing-plant

Led Panel Light Market: https://www.imarcgroup.com/led-panel-light-manufacturing-plant

Stone Paper Market: https://www.imarcgroup.com/stone-paper-market

Multi Cooker Market: https://www.imarcgroup.com/multi-cooker-market

Wireless Sensors Market: https://www.imarcgroup.com/wireless-sensors-market

Outdoor Advertising Market: https://www.imarcgroup.com/outdoor-advertising-market

Laboratory Glassware and Plasticware Market: https://www.imarcgroup.com/laboratory-glassware-plasticware-market

LED Bulb Market: https://www.imarcgroup.com/led-bulb-manufacturing-plant

Biocatalyst Market: https://www.imarcgroup.com/biocatalyst-market

Contact US:
IMARC Group
30 N Gould St Ste R
Sheridan, WY 82801 USA - Wyoming
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

This release was published on openPR.