Information Communication and Technology Reports Facial Recognition Industry Research Report

Facial Recognition Market worth 7.76 Billion USD by 2022
According to a new market research report "Facial Recognition Market by Component (Software Tools and
Services), Technology, Use Case (Emotion Recognition, Attendance Tracking and Monitoring, Access Control, Law
Enforcement), End-User, and Region - Global Forecast to 2022” ", published by MarketsandMarkets™, The global
facial recognition market is expected to grow from USD 4.05 Billion in 2017 to USD 7.76 Billion by 2022, at CAGR of
13.9% from 2019 to 2022.
Facial recognition technologies are used to minimize the threats associated with terrorism and border securities.
The growing need for surveillance at public places is expected to be one of the major factors that drives the growth
of the facial recognition market.
Browse and in-depth TOC on “Facial Recognition Market”
82- Tables
37 - Figures
156 - Pages
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Major Key Companies
The facial recognition market report encompasses the competitive landscape, which presents the positioning of
the 25 key facial recognition vendors based on their product offerings and business strategies. Some of these
major vendors include Aware (US), NEC Corporation (Japan), Ayonix Corp. (Japan), Cognitec Systems (Germany),
KeyLemon (Switzerland), nViso (Switzerland), Herta Security (Spain), Techno Brain (Kenya), Neurotechnology
(Lithuania), Daon (US), Animetrics (US), 3M Company (US), IDEMIA (France), and Gemalto (Netherlands).
Industry Segmentation of Facial recognition market:
The components segment is further segmented into software tools and services. The services segment is expected
to grow at the highest CAGR during the forecast period. Due to the growing awareness among enterprises about
the features of facial recognition technologies and the rising need for a more secured biometric system, the
demand for facial recognition systems is expected to be increasing globally.
On the basis of software tools, the 3D facial recognition technology segment is expected to have the largest
market size during forecast period. The 3D facial recognition model overcomes the drawbacks of the 2D facial
recognition technology. 3D facial technology is not dependent on illumination, which enables it to capture high-
quality images in uncontrolled environments, such as poorly lit or completely dark areas. The 3D facial recognition
technology has a high potential to analyze, identify, and verify the facial characteristics of individuals.
On the basis of use cases, the law enforcement segment is expected to have the largest market size during the
forecast period. Facial recognition software and services are predominantly applied at the premises, where the
enforcement, surveillance, and monitoring of the facial detection law is needed. Facial recognition technologies
are capable of recognizing faces in real-time using webcam; providing accurate gender information; detecting age,
mood, and other features; and searching faces from the database.