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Facial Recognition Market 2022: Industry Insight, Drivers, Top Trends, Global Analysis and Forecast by 2027

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Facial Recognition Market 2022: Industry Insight, Drivers, Top Trends, Global Analysis and Forecast by 2027

September 27
15:40 2022
Facial Recognition Market 2022: Industry Insight, Drivers, Top Trends, Global Analysis and Forecast by 2027
Facial Recognition Market
The global facial recognition market reached a value of US$ 5.0 Billion in 2021. IMARC Group expects the market to reach US$ 15.6 Billion by 2027, exhibiting a CAGR of 21.2% during 2022-2027.

According to IMARC Group latest report titled “Facial Recognition Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on facial recognition market report. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global facial recognition market reached a value of US$ 5.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 15.6 Billion by 2027, exhibiting at a CAGR of 21.2% during 2022-2027.

Facial recognition is a way of identifying a human face through technology. It is a categorization of biometric software that uses deep learning algorithms to contrast an image to the stored faceprint to verify an individual’s identity. The system uses biometrics to map facial features from a photograph or video. It is a biometrics technology that compares facial features from an image with the stored facial database. Customarily used for safety and security purposes, the advent of facial recognition technology has improved the effectiveness and efficiency of safety systems.

Get a Free Sample Copy of this Report: https://www.imarcgroup.com/facial-recognition-market/requestsample

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.

Market Trends:

The global market is majorly driven by the increasing penetration of smartphones and other electronic gadgets. In line with this, the rising integration of the internet of things is positively influencing the market. Furthermore, the growth and expansion of the surveillance industry are offering lucrative growth opportunities for the facial recognition market. Apart from this, facial recognition technology is very versatile and is rapidly being used by various end-users. Moreover, the growing adoption of the technology by the law enforcement sector is substantially contributing the market growth. Besides this, escalating demand for facial recognition solutions in data analytics, fraud detection, cybersecurity, and database systems is strengthening the market. Additionally, the advent of advanced technologies, such as cloud-based solutions and facial analytics, is providing a boost to the market.

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 (2016-2021)
  • Market Outlook (2022-2027)
  • 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 (2022-2027) 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.

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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.

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