Face Recognition Technology Market Biggest Innovation with Top Key Players -3M, NEC Corporation, Aware Inc., Safran Group, Animetrics, Inc., Daon Inc., Ayonix Corp., Cognitec Systems GmbH, Keylemon Inc., Nviso SA

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The global facial recognition market size was valued at USD 3.86 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 15.4% from 2021 to 2028. Technology is improving, evolving, and expanding at an explosive rate. Technologies such as biometrics are extensively used in order to enhance security. These are used across various applications, such as access control, attendance tracking, security and surveillance, and others. Biometrics are universal, unique, and measurable and thus can be used to provide security solutions. There are various types of biometrics used today, such as fingerprint, iris recognition, face recognition, speech recognition, and others. Facial recognition technology is a type of image recognition technology that has gained wide acceptance over the years. This technology leverages a connected or digital camera to detect faces in the captured images and then quantify the features of the image to match against the templates stored in the database.

Some of the Top companies Influencing this Market include:

3M, NEC Corporation, Aware Inc., Safran Group, Animetrics, Inc., Daon Inc., Ayonix Corp., Cognitec Systems GmbH, Keylemon Inc., Nviso SA

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Face Recognition Technology Market Types:

2D Facial Recognition, 3D Facial Recognition, Thermal Facial Recognition.

Face Recognition Technology Market Applications:

Emotion Recognition, Law Enforcement, Surveillance, and Monitoring, Others

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3) Exactly how will be the overall picture of the worldwide market in the next 7 years along with the value of its CAGR?
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The massive outbreak of the COVID-19 pandemic has mercilessly taken a lot of lives as well as hampered the overall rate of market growth excessively. Hence, in this condition, the market experts must take the charge of formulating some efficient ideas to get rid of this prevailing situation and maintain a substantial rate of Face Recognition Technology Market growth.

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