Facial Recognition Market 2019 Global Size, Segments, Regional Study, Growth and Trends by Forecast to 2022

Global Facial Recognition Market had been valued at USD 3.04 billion in the year 2016, which is expected to reach USD 8.93 billion by the end of the forecast period growing at ~19.68% CAGR

Pune, India - June 12, 2019 /MarketersMedia/ —

Facial Recognition Market Scenario:
The facial recognition system is a technology used for the identification of individuals from digital images or video clips by comparison of selected facial features with the available database. As per the report that has been recently published by Market Research Future (MRFR), the global facial recognition market is expected to witness significant expansion at a robust CAGR of over 19.68 % during the forecast period of 2016-2022 and reach USD 8.93 Bn by the end of the forecast period.

The facial recognition system is typically used in biometric security systems. The colossal increase in security threats and breaches in various fields is inducing demand for a systematic technology for identification purpose. The vital application of facial recognition systems in military and defense sector owing to the proliferating terrorist activities and increasing crime rate and incorporation of facial recognition systems in various government and private organizations for security purposes are some of the major factors driving the global facial recognition market.

The advancement in technology is facilitating the incorporation of facial recognition systems in various personal devices such as computers, laptops, and smartphones in order to maintain the user privacy and data security. The rise in adoption of digital door lock systems which use facial recognition technology along with other biometrics such as fingerprint and retina scanning is positively impacting the expansion of the global Facial Recognition Market.

The increasing rate of home invasions, burglaries, and other major crimes is generating a dire need for facial recognition systems in all the regions of the world, leading to the growth of the global facial recognition market. The widespread application of facial recognition systems in the consumer electronics sector is also proving to be a vital factor fueling the expansion of the global facial recognition market.

However, the high installation and maintenance cost and low penetration of advanced technology in underdeveloped regions of the world are likely to create prime hindrance in the expansion of the global facial recognition market during the forecast period.

Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/1250

Competitive Analysis:
The increasing research and development expenditure for innovative product launches is strengthening the competition among the players of the global facial recognition market. The manufacturers are aiming towards business expansion by carrying out strategic mergers and acquisitions in the global facial recognition market.

In April 2018, Panasonic Corporation (Japan), a worldwide leader in developing advanced electronic technologies and solutions, has introduced a sophisticated facial recognition biometric system which is capable of recognizing individuals diagonally and even when wearing sunglasses. This innovative product launch is considered to be a benchmark in the global facial recognition market.

The prominent players of the global facial recognition market are Safran SA (France), NEC Corporation (Japan), Cognitec Systems (Germany), Aware Inc. (U.S), Daon Inc. (U.S.), Gemalto (Netherlands) FaceFirst Inc. (U.S.), Ayonix Corporation (Japan), Key Lemon Ltd. (Switzerland), Face++ (China) and others.

Market Segmentation:
The global market for facial recognition has been segmented on the basis of technology, hardware and software, and verticals. Based on technology, the facial recognition market is segmented into 2D recognition, 3D recognition, and thermal recognition. The advancement in 3D technology and higher accuracy of 3D recognition systems are propelling the expansion of the 3D recognition technology segment in the global facial recognition market.

Based on hardware and software, the facial recognition market is segmented into face recognition software and analytics. Based on verticals, the facial recognition market is segmented into large organization, government, airports, home security, and others.

Browse Full Report Details @ https://www.marketresearchfuture.com/reports/facial-recognition-market-1250

Detailed Regional Analysis:
Geographically, the global facial recognition market is segmented into four major regions such as North America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, North America is leading the global facial recognition market owing to the rapid adoption of facial recognition technology in various government and non-government sectors and increasing use of electronic devices that are equipped with this technology by the consumers in this region.

The facial recognition market is projecting significant growth in the Europe region due to the brisk development in technology and large pool of players in the facial recognition market of this region. Whereas, the Asia-Pacific region is projecting fastest growth in the global facial recognition market due to the increasing investment for development of 3D technology and increasing adoption of facial recognition systems for security purposes in this region. The market for facial recognition is projecting steady growth in the Middle East and Africa region due to the less penetration of advanced technology in the underdeveloped and remote areas of this region.

About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Contact Info:
Name: Abhishek Sawant
Email: Send Email
Organization: Market Research Future
Address: Market Research Future Office No. 524/528,, Amanora Chambers Magarpatta Road, Hadapsar Pune - 411028
Phone: +1 646 845 9312
Website: https://www.marketresearchfuture.com/reports/facial-recognition-market-1250

Source URL: https://marketersmedia.com/facial-recognition-market-2019-global-size-segments-regional-study-growth-and-trends-by-forecast-to-2022/523497

Source: MarketersMedia

Release ID: 523497

Latest News

Putin engineers shakeup that could keep him in power longer

Jul 5, 2020

MOSCOW — President Vladimir Putin engineered a surprise shakeup of Russia's leadership Wednesday, proposing changes to the constitution that could keep him in power well past the end of his term in 2024. Prime Minister Dmitry Medvedev resigned his post after Putin announced the proposed constitutional amendments. Putin kept his longtime ally in the Kremlin's leadership structure, appointing him to the newly created post of deputy head of the presidential Security Council. The shakeup sent shock waves through Russia's political elites who were left pondering what Putin's intentions were and speculating about future Cabinet appointments. Putin’s proposed constitutional reforms, announced...

Sultan Qaboos bin Said, who modernized Oman, dies at 79

Jul 5, 2020

DUBAI, United Arab Emirates — Oman’s Sultan Qaboos bin Said, the Mideast's longest-ruling monarch who seized power in a 1970 palace coup and pulled his Arabian sultanate into modernity while carefully balancing diplomatic ties between adversaries Iran and the U.S., has died. He was 79. The British-educated, reclusive sultan reformed a nation that was home to only three schools and harsh laws banning electricity, radios, eyeglasses and even umbrellas when he took the throne. Under his reign, Oman became known as a welcoming tourist destination and a key Mideast interlocutor, helping the U.S. free captives in Iran and Yemen and...

On streets of Tehran, relief for now at no wider conflict

Jul 5, 2020

TEHRAN, Iran — Iranian newspapers proclaimed the country's attack on U.S. forces in Iraq to be "a dark night for Americans," and Washington's "first admission of failure in history." On the bustling streets of Tehran, however, there was relief Thursday that neither side appeared primed for war. “War is not something like the ‘Call of Duty’ game," said Dara Shojaei, a 23-year-old architecture student. “It's not a game you can play to win. There's no winner.” But with the relief came some mixed feelings about how far Iran should go to avenge the killing of Revolutionary Guard Gen. Qassem Soleiman,...

Stocks rise as China confirms trade deal signing next week

Jul 5, 2020

NEW YORK — U.S stocks climbed in morning trading on Thursday as investors cheered confirmation from China that its top trade official will head to Washington next week to sign a preliminary trade deal. The “Phase 1” accord is the opening step on a possible path toward a broader agreement between the nations. President Donald Trump has said he will travel to Beijing after the initial signing to start the second stage of talks. Every major index is on track for a record as Wall Street distances itself from a bout of anxiety over the last week because of tensions...

Soleimani, a general who became Iran icon by targeting US

Jul 5, 2020

TEHRAN, Iran — For Iranians whose icons since the Islamic Revolution have been stern-faced clergy, Maj. Gen. Qassem Soleimani widely represented a figure of national resilience in the face of four decades of U.S. pressure. For the U.S. and Israel, he was a shadowy figure in command of Iran's proxy forces, responsible for fighters in Syria backing President Bashar Assad and for the deaths of American troops in Iraq. Solemani survived the horror of Iran’s long war in the 1980s with Iraq to take control of the Revolutionary Guard’s elite Quds Force, responsible for the Islamic Republic’s foreign campaigns. Relatively...


Deck Biz is an intelligent platform providing international and regional business news updates. You won’t get these insights elsewhere other than Deck Biz.

Contact us: sales@deckbiz.com