Press release
Facial Recognition Market Value to Exceed USD 16.74 Billion by 2030
Facial Recognition Market
Drivers, restraints, and opportunities
Increase in demand for face detection systems to enhance the essential safety & security in organizations and emergence of intelligent signage solutions drive the growth of the global facial recognition market. On the other hand, lack of accuracy and high implementation cost of facial recognition technology restrains the growth to some extent. However, rise in applications of drones is expected to offer lucrative opportunities in the industry.
Download Free Sample Report at: https://www.alliedmarketresearch.com/request-sample/794
The 3D segment to dominate by 2030
By technology, the 3D segment contributed to the major share in 2020, holding nearly two-fifths of the global facial recognition market. This is owing to the fact that it overcomes the drawbacks of 2D technology such as varying angles and environmental conditions, by using high-definition and complex algorithms, resulting in more accurate recognition of facial images. The facial analytics segment, however, would cite the fastest CAGR of 16.9% during the forecast period, due to its increasing usage in the retail industry.
The access control segment to maintain the dominant share
By application, the access control segment accounted for the major share in 2020, holding nearly one-third of the global facial recognition market. Continuous adoption of access control-as-a-service (ACaaS) and implementation of mobile-based access control fuel the segment growth. Simultaneously, the security & surveillance segment is expected to grow at the fastest CAGR of 18.5% from 2021 to 2030. This is because governments and companies happen to invest more in security networks, and more surveillance cameras are expected to be installed across the world in 2021.
For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/794
North America garnered the major share in 2020
By region, the market across North America had the lion's share in 2020, generating nearly two-fifths of the global facial recognition market. High expenditure on security systems by government agencies in the region drives the market growth. The Asia-Pacific region, on the other hand, is projected to portray the fastest CAGR of 17.9% by 2030. This is owing to increase in need for surveillance systems in civil and government agencies for enhancing safety and security.
If you have any special requirements, please let us know: https://www.alliedmarketresearch.com/request-for-customization/794
Key players in the industry
• Animetrics Inc.
• Cognitec Systems GmbH
• Nuance Communications Inc.
• 3M
• Crossmatch
• Daon Inc.
• FaceFirst, Inc.
• IBM Corporation
• NEC Corporation
• Microsoft Corporation
Access Full Summary at: https://www.alliedmarketresearch.com/facial-recognition-market
Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, Europe, or Asia.
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll-Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter
According to the report, the global facial recognition industry was estimated at $3.83 billion in 2020, and is anticipated to hit $16.74 billion by 2030, registering a CAGR of 16.0% from 2021 to 2030.
Drivers, restraints, and opportunities
Increase in demand for face detection systems to enhance the essential safety & security in organizations and emergence of intelligent signage solutions drive the growth of the global facial recognition market. On the other hand, lack of accuracy and high implementation cost of facial recognition technology restrains the growth to some extent. However, rise in applications of drones is expected to offer lucrative opportunities in the industry.
Download Free Sample Report at: https://www.alliedmarketresearch.com/request-sample/794
The 3D segment to dominate by 2030
By technology, the 3D segment contributed to the major share in 2020, holding nearly two-fifths of the global facial recognition market. This is owing to the fact that it overcomes the drawbacks of 2D technology such as varying angles and environmental conditions, by using high-definition and complex algorithms, resulting in more accurate recognition of facial images. The facial analytics segment, however, would cite the fastest CAGR of 16.9% during the forecast period, due to its increasing usage in the retail industry.
The access control segment to maintain the dominant share
By application, the access control segment accounted for the major share in 2020, holding nearly one-third of the global facial recognition market. Continuous adoption of access control-as-a-service (ACaaS) and implementation of mobile-based access control fuel the segment growth. Simultaneously, the security & surveillance segment is expected to grow at the fastest CAGR of 18.5% from 2021 to 2030. This is because governments and companies happen to invest more in security networks, and more surveillance cameras are expected to be installed across the world in 2021.
For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/794
North America garnered the major share in 2020
By region, the market across North America had the lion's share in 2020, generating nearly two-fifths of the global facial recognition market. High expenditure on security systems by government agencies in the region drives the market growth. The Asia-Pacific region, on the other hand, is projected to portray the fastest CAGR of 17.9% by 2030. This is owing to increase in need for surveillance systems in civil and government agencies for enhancing safety and security.
If you have any special requirements, please let us know: https://www.alliedmarketresearch.com/request-for-customization/794
Key players in the industry
• Animetrics Inc.
• Cognitec Systems GmbH
• Nuance Communications Inc.
• 3M
• Crossmatch
• Daon Inc.
• FaceFirst, Inc.
• IBM Corporation
• NEC Corporation
• Microsoft Corporation
Access Full Summary at: https://www.alliedmarketresearch.com/facial-recognition-market
Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, Europe, or Asia.
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Facial Recognition Market Value to Exceed USD 16.74 Billion by 2030 here
News-ID: 2885517 • Views: …
More Releases from Allied Market Research
Smart Labels Market to Reach $39.2 Billion Globally by 2031, Growing at a CAGR o …
Allied Market Research published a report, titled, "Smart Labels Market by Product Type (QR Codes, Barcodes and RFID), Printing Technology (Flexographic and Digital) and End User (Retail, Healthcare, Logistics and Others) and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2031" According to the report, the global smart labels market was valued at $9 billion in 2021, and is projected to reach $39.2 billion by…
Aerospace Forging Market In-depth Analysis, Rising Business Opportunities And Es …
Aerospace forging is the manufacturing process that involves the shaping of metal with the use of localized compressive forces. With increasing air passenger traffic, major players in the commercial aviation industry are likely to witness an upsurge in the number of aircraft deliveries, which in turn is expected to boost the market for aerospace forging. In addition, the manufacturing of specialized aircraft requires manufacturing of high-performance material, shaped with highly…
USD 3.32 Trillion Daily Products Market Value Cross by 2032 | Top Players such a …
According to a new report published by Allied Market Research, titled, "Daily Products Market," The daily products market size was valued at $1.5 trillion in 2022, and is estimated to reach $3320.7 billion by 2032, growing at a CAGR of 8.2% from 2023 to 2032.
The Daily Products industry, a diverse sector spanning consumables like food, beverages, personal care goods, and household necessities, has witnessed remarkable expansion in recent years. This…
Smart Door Locks Market to Reach $12.5 Billion Globally by 2032, Growing at a CA …
Allied Market Research published a report, titled, "Smart Doors Locks Market by Product Type (Deadbolts, Lever Handles, Padlocks, and Others), Technology (Bluetooth and Wi-Fi), and End-User (Single Family and Multi-Family): Global Opportunity Analysis and Industry Forecast, 2020-2032." According to the report, the global smart door locks industry generated $1.8 Billion in 2020, and is anticipated to generate $12.5 Billion by 2032, witnessing a CAGR of 17.6% from 2023 to 2032.…
More Releases for CAGR
[CAGR of 6.7%] Nanocoatings Market Size, Industry Share, CAGR, Regional Forecast …
The global Nanocoatings Market generated $10.7 billion in 2020, and is projected to reach $20.1 billion by 2030, growing at a CAGR of 6.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Download sample PDF @ https://www.alliedmarketresearch.com/request-sample/2064
According to the report published by Allied Market Research,…
[CAGR of 5.3%] Pigments Market Size, Industry Share, CAGR, Regional Forecast, 20 …
A recent report by Allied Market Research provides a detailed analysis of the pigments market, highlighting its robust growth. The industry was valued at $27.2 billion in 2022 and is projected to surge to $45.4 billion by 2032, exhibiting an impressive CAGR of 5.3% from 2023 to 2032.
This research report identifies the growth drivers behind the market's expansion and delves into the market dynamics using advanced analytical frameworks…
Enzymes Market Expansion CAGR of 4.9% CAGR Anticipated 2025-2034
The Enzymes Market report is an in-depth examination of the global Enzymes Market's general consumption structure, development trends, sales techniques, and top nations' sales. The research looks at well-known providers in the global Enzymes Market industry, as well as market segmentation, competition, and the macroeconomic climate. A complete Enzymes Market analysis takes into account a number of aspects, including a country's population and business cycles, as well as market-specific microeconomic…
Waterproofing Membranes Market is Projected Grow at CAGR of 8% CAGR by 2033
The waterproofing membranes market is anticipated to witness a Compound Annual Growth Rate (CAGR) of 8.0% over the forecast period. By 2023, the estimated market value for waterproofing membranes is substantial, reaching US$ 31.5 billion.
These waterproofing materials comprise thin, impermeable membranes designed to collaborate with asphalt, providing a protective shield for the structural integrity of buildings. The asphalt component in these membranes acts as a safeguard, preserving the underlying membrane…
Electric Bed Market CAGR, Size, Share Grow USD 2,063 Million by 2030 CAGR 13.70%
Global electric bed market size is expected to be worth roughly USD 2,063 million by 2030, growing at a CAGR of more than 13.7% during the projected timeframe of 2022-2030, according to Ameco Research
A significant portion of the population over the age of 60, who often have reduced immunity levels and are more susceptible to neurological disorders, cardiac issues, tumors, and spinal cord compression, is anticipated to have a substantial…
Pediatric Radiology Market Size will Grow at CAGR 7.7% CAGR during 2017-2026
Pediatric Radiology Market:Overview
The pediatric radiology market is likely to register robust growth in the near future. Chronic illnesses among children including neurological disorders such as ADHD are on the rise. According to the US labor bureau, the demand for pediatrician is expected to grow by 24% on average by 2020. This is the highest average growth among all professionals in the United States.
Despite challenges such as training for new…
