Facial Recognition Market Analysis Report, Share, Growth, Trend, and Forecast, 2024

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Facial Recognition Market Analysis Report, Share,
Growth, Trend, and Forecast, 2024 Global Market
Insights, Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Regional Analysis of Facial Recognition Market

• The industrial and retail sector in the Asia
  Pacific countries including China and India is
  anticipated to experience a high growth owing to
  which companies are increasingly adopting this
  software to control the access of their
  employees.
• Furthermore, governments of various economies
  have undertaken initiatives aiding in the growth
  of the facial recognition market. For instance,
  in July 2017, the Australian government had
  awarded a contract of USD 22.5 million for
  airports to Vision-Box.
• The U.S. facial recognition market is anticipated
  to dominate owing to the large-scale smartphone
  penetration and the need to provide security
  solutions.

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• Application Analysis of Facial Recognition
  Market
• The segmentation of the facial recognition market
  based on technology includes 2D, 3D, and
  analytics. The 3D segment is anticipated to
  dominate in terms of revenue. This is mainly
  attributed to the functional drawbacks of 2D
  technology and the advantages 3D offers in
  comparison to it. For instance, 2D systems are
  highly susceptible to illumination changes and
  pose variations where any variations can result
  in a mismatch and a false alarm. The analytics
  segment of the facial recognition market is
  anticipated to experience a high adoption as it
  aids in the collection of descriptive metadata
  about a given face such as scars and expressions.
  
• Facial recognition market is segmented based on
  end users as government and law enforcement,
  military, retail, BFSI, consumer, automotive, and
  others. The government and law enforcement
  segment of the facial recognition market is
  projected to experience a high growth during the
  forecast time span owing to the adoption of these
  technologies to prevent criminal activities. Law
  enforcement agencies, such as correctional
  facilities, utilize face identification
  technology to keep track of inmates and
  ex-convicts. These technologies also are finding
  increasing adoption in the consumer electronics
  segment owing to the high demand for security
  features for instance, iPhones FaceID software
  and the Facebook feature to tag the user and
  users contacts from the users friend list in
  pictures.

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Competitive Market Share of Facial Recognition
Market

• Players operating in the facial recognition
  market include Aware, Inc., Cross Match
  Technologies, Inc., FaceFirst, Inc., 3M, Cognitec
  Systems GmbH, Ayonix, Safran Group, Animetrics,
  Inc., Daon, and others.
• The companies invest heavily in the development
  of new technologies to improve the existing
  software. For instance, in April 2017, NEC
  Corporation announced the launch of NC7000-3A,
  which is a data utilization platform software
  that leverages this technology in mobile devices
  and is anticipated to improve its position in the
  facial recognition market.

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