Global Facial Recognition Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global facial recognition market in its upcoming report titled, “Global Facial Recognition Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027”. The global facial recognition market is estimated to register a CAGR of XX.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global facial recognition market report has been segmented on the basis of technology, component, and application and regions.

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Facial recognition is a biometric application which is used to capture the image of the individual and is used to identify individuals by applying facial analytics and comparing it with the existing database. Facial recognition is used for security purposes specially in the surveillance field. The facial recognition system focuses on the facial features of a person like cheek bones, and the distance between eyes, and eye-brows.

Increasing awareness among enterprises about the features of facial recognition technologies is a major factor expected to drive growth of the global facial recognition market. In addition, rising need for more secured biometric system and increasing demand for facial recognition system are other major factors expected to boost growth of the global facial recognition market over the forecast period.

However, high initial costs which is required to set up the facial recognition framework is a major factor expected to restrain growth of the global facial recognition market. In addition, less reach of the technology in underdeveloped regions is expected to hamper the market growth to a certain extent.

The market in North America accounted for highest revenue share in the global facial recognition market in 2016, owing to a strong infrastructure existing for developing new technologies and growing demand of high end security in countries in the region. Europe is the second-highest revenue share in the global facial recognition market in countries in the region. The market in Asia Pacific is projected to register fastest growth rate in terms of revenue, due to increasing investments from the government sector toward security and surveillance infrastructure in countries in the region. Moreover, the markets in Latin America and Middle East & Africa are expected to register moderate growth rate over the forecast period. Revenue from the market in Middle East & Africa is projected to register a CAGR of X.X% over the forecast period.

Global facial recognition market segmentation:

By technology:

• 2D
• 3D
• Facial analytics

By component:

• Hardware
• Scanners
• Cameras
• Handheld Devices
• Integrated Devices
• Software

By application:

• Homeland security
• Criminal investigation
• ID management
• Physical security
• Intelligent signage
• Web application
• Business intelligence
• Photo indexing & sorting

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa