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Global Facial Recognition Market 2023-2032 : Demand, Trend, Segmentation, Forecast, Overview And Top Companies Include Aware Inc., Ayonix Corporation, Cognitec Systems GmbH, FacePhi, NEC Corporation, Nuance
Facial Recognition Market
Facial Recognition Market Size, Growth Rate, And Forecast
The global facial recognition market size grew from $5.43 billion in 2022 to $6.28 billion in 2023 at a compound annual growth rate (CAGR) of 15.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The facial recognition market size is expected to grow to $11.35 billion in 2027 at a CAGR of 16.0%.
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Facial Recognition Market Drivers
The growing importance of the surveillance industry is expected to drive the facial recognition market. The increasing incidences of cyberattacks, terrorist activities, and identity thefts across the globe have increased surveillance. Private and public organizations are using facial recognition to provide high-level security through accurate identification of individuals for access control. The utilization of smart surveillance systems using facial recognition is rising.
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Facial Recognition Market Segments
• By Technology: 2D, 3D, Facial Analytics
• By Application: Emotion Recognition, Attendance Tracking And Monitoring, Access Control, Security And Surveillance, Other Applications
• By End User: Retail And E-commerce, Media And Entertainment, Banking, Financial Services And Insurance (BFSI), Automobile And Transportation, Telecom And Information Technology (IT), Government, Healthcare, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North-America was the largest region in the Facial Recognition market.
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Facial Recognition Market Key Players
Major competitors in the Facial Recognition market include Aware Inc., Ayonix Corporation, Cognitec Systems GmbH, FacePhi, NEC Corporation, Nuance, Idemia, Thales, Fujitsu
The Business Research Company's "Global Facial Recognition Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Facial Recognition Market Include:
1. Executive Summary
2. Facial Recognition Market Characteristics
3. Facial Recognition Market Trends And Strategies
4. Facial Recognition Market - Macro Economic Scenario
5. Facial Recognition Market Size And Growth
………
27. Facial Recognition Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Facial Recognition Market
29. Facial Recognition Market Future Outlook and Potential Analysis
30. Appendix
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