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Global Facial Recognition Market: By Type: 2D Facial Recognition, 3D Facial Recognition, Facial Analytics; By Application: Security and Law Enforcement, Healthcare, Retail, Others; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics; SWOT Analysis; Competitive Landscape; Industry Events and Developments

Global Facial Recognition Market Outlook

The global facial recognition market is expected to grow from USD 3.4 billion in 2020 to USD 7.3 billion by 2026, growing at a CAGR of 17% in the forecast period of 2022-2027.

 

Global Facial Recognition Market

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The increasing data security initiatives, the rising use of mobile devices, and the growing demand for fraud detection and prevention technologies are the major growth drivers of the global facial recognition market.

 

Properties and Applications

Facial recognition is a biometric application of the software that can uniquely identify or verify an individual by analysing and comparing patterns based on the facial contours of the individual. Facial recognition is used primarily for safety reasons, although interest in other applications of the product is also increasing.

 

Global Facial Recognition Market By Application

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The facial recognition market can be divided based on segments like types and applications.

The industry can be divided based on its types as:

  • 2D Facial Recognition
  • 3D Facial Recognition
  • Facial Analytics

The industry can be broadly categorised based on its application segments into:

  • Security and Law Enforcement
  • Healthcare
  • Retail
  • Others

The EMR report looks into the regional facial recognition markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.

 

Global Facial Recognition Market BY Region

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Market Analysis

The section of financial services has invested strongly in technologies to improve services, including facial recognition-enabled biometrics solutions. During the forecast period, North America is anticipated to account for a significant industry share in the industry as it is a technologically developed region with a large number of early adopters of facial recognition and the existence of significant market players in the region. In this region, factors such as large-scale financed programs and tracking of worker access in buildings are driving the growth of the facial recognition market. In addition, the industry globally has been fuelled by the compulsory provisions enforced by public regulators to embrace the best-in-class techniques and standards.

 

Competitive Landscape

The report presents a detailed analysis of the following key players in the global facial recognition market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Panasonic Corporation 
  • Gemalto (OTCMKTS: GTOMY)  
  • NEC Corporation  
  • Cognitec Systems GmbH     
  • Aware Inc.    
  • Ayonix Face Technologies       
  • Nviso SA 
  • Daon 
  • Others 

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter's Five Forces models.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Application, Region
Breakup by Type 2D Facial Recognition, 3D Facial Recognition, Facial Analytics
Breakup by Application Security and Law Enforcement, Healthcare, Retail, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Panasonic Corporation (TYO: 6752), Gemalto (OTCMKTS: GTOMY), NEC Corporation (TYO: 6701), Cognitec Systems GmbH, Aware Inc., Ayonix Face Technologies, Nviso SA, Daon, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
    1.1    Objectives of the Study
        1.1.1    Research Objective
        1.1.2    Key Findings of the Report
2    Research Methodology
    2.1    Data Extraction
    2.2    Data Corroboration
    2.3    Market Structure
    2.4    Assumptions
    2.5    Market Models
3    Introduction
    3.1    Market Outlook
    3.2    Key Industry Trends
    3.3    Market Scope and Segmentation
    3.4    Additional Insights
4    Executive Summary
    4.1    Key Market Developments
    4.2    Market Analysis
    4.3    Key Players
    4.4    Market Revenue and Growth
5    Market Dynamics
    5.1    Market Driver Analysis
    5.2    Market Restraint Analysis
    5.3    Industry Challenges
    5.4    Industry Opportunities
6    Global Facial Recognition Market Analysis
    6.1    Global Facial Recognition Historical Market (2017-2021) & Forecast (2022-2027)
    6.2    Global Facial Recognition Market Breakup by Type
        6.2.1    2D Facial Recognition
        6.2.2    3D Facial Recognition
        6.2.3    Facial Analytics
    6.3    Global Facial Recognition Market Breakup by Type: Historical Market (2017-2021) & Forecast (2022-2027)
        6.3.1    2D Facial Recognition
        6.3.2    3D Facial Recognition
        6.3.3    Facial Analytics
    6.4    Global Facial Recognition Market Breakup by Application
        6.4.1    Security and Law Enforcement
        6.4.2    Healthcare
        6.4.3    Retail
        6.4.4    Others
    6.5    Global Facial Recognition Market Breakup by Application: Historical Market (2017-2021) & Forecast (2022-2027)
        6.5.1    Security and Law Enforcement
        6.5.2    Healthcare
        6.5.3    Retail
        6.5.4    Others
    6.6    Global Facial Recognition Market Breakup by Region
        6.6.1    North America
            6.6.1.1    United States of America
            6.6.1.2    Canada
        6.6.2    Europe
            6.6.2.1    Germany
            6.6.2.2    United Kingdom
            6.6.2.3    France
            6.6.2.4    Italy
            6.6.2.5    Others
        6.6.3    Asia Pacific
            6.6.3.1    China
            6.6.3.2    Japan
            6.6.3.3    India
            6.6.3.4    ASEAN
            6.6.3.5    Others
        6.6.4    Latin America
            6.6.4.1    Brazil
            6.6.4.2    Argentina
            6.6.4.3    Mexico
            6.6.4.4    Others
        6.6.5    Middle East & Africa
            6.6.5.1    Saudi Arabia
            6.6.5.2    United Arab Emirates
            6.6.5.3    Nigeria
            6.6.5.4    South Africa
            6.6.5.5    Others
    6.7     Global Facial Recognition Market Breakup by Region: Historical Market (2017-2021) & Forecast (2022-2027)
        6.7.1    North America
            6.7.1.1    United States of America
            6.7.1.2    Canada
        6.7.2    Europe
            6.7.2.1    Germany
            6.7.2.2    United Kingdom
            6.7.2.3    France
            6.7.2.4    Italy
            6.7.2.5    Others
        6.7.3    Asia Pacific
            6.7.3.1    China
            6.7.3.2    Japan
            6.7.3.3    India
            6.7.3.4    ASEAN
            6.7.3.5    Others
        6.7.4    Latin America
            6.7.4.1    Brazil
            6.7.4.2    Argentina
            6.7.4.3    Mexico
            6.7.4.4    Others
        6.7.5    Middle East & Africa
            6.7.5.1    Saudi Arabia
            6.7.5.2    United Arab Emirates
            6.7.5.3    Nigeria
            6.7.5.4    South Africa
            6.7.5.5    Others
7    SWOT Analysis
    7.1    Overview
    7.2    Strengths
    7.3    Weaknesses
    7.4    Opportunities
    7.5    Threats
8    Porter’s Five Forces Analysis
    8.1    Overview
    8.2    Buyer’s Power
    8.3    Supplier’s Power
    8.4    New Entrants
    8.5    Degree of Rivalry
    8.6    Substitutes 
9    Competitive Landscape & Supplier Analysis
    9.1    Panasonic Corporation (TYO: 6752)
        9.1.1    Company Overview
        9.1.2    Financial Analysis
    9.2    Gemalto (OTCMKTS: GTOMY)
        9.2.1    Company Overview
        9.2.2    Financial Analysis
    9.3    NEC Corporation (TYO: 6701)
        9.3.1    Company Overview
        9.3.2    Financial Analysis
    9.4    Cognitec Systems GmbH
        9.4.1    Company Overview
        9.4.2    Financial Analysis
    9.5    Aware Inc.
        9.5.1    Company Overview
        9.5.2    Financial Analysis
    9.6    Ayonix Face Technologies 
        9.6.1    Company Overview
        9.6.2    Financial Analysis
    9.7    Nviso SA
        9.7.1    Company Overview
        9.7.2    Financial Analysis
    9.8    Daon 
        9.8.1    Company Overview
        9.8.2    Financial Analysis
    9.9    Others
10    Industry Events and Developments

Key Questions Answered in the Report

In 2020, the global facial recognition market attained a value of nearly USD 3.4 billion.

The market is projected to grow at a CAGR of 17% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach about USD 7.3 billion by 2026.

The major drivers of the industry, such as the improving data security standards, growing internet and smartphone penetration, increasing incidence of data theft and fraud, and the growing product demand from financial services sector, are expected to aid the market growth.

The key market trends guiding the growth of the industry include the growing technological advancements and the increasing adoption of automation in various enterprises.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

2D facial recognition, 3D facial recognition, and facial analytics are the leading types of facial recognition in the industry.

Security and law enforcement, healthcare, and retail, among others, are the significant applications of the product in the industry.

The major players in the industry are Panasonic Corporation, Gemalto, NEC Corporation, Cognitec Systems GmbH, Aware Inc., Ayonix Face Technologies, Nviso SA, and Daon, among others.

Analyst Review

The global facial recognition market attained a value of USD 3.4 billion in 2020, driven by the rising cases of data theft and implementation of stringent regulatory policies regarding data security. Aided by the technological advancements, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 17%. The market is projected to reach USD 7.3 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on types, the industry can be segmented into 2D facial recognition, 3D facial recognition, and facial analytics. On the basis of application, the industry is divided into security and law enforcement, healthcare, and retail, among others. The major regional markets for facial recognition are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Panasonic Corporation, Gemalto, NEC Corporation, Cognitec Systems GmbH, Aware Inc., Ayonix Face Technologies, Nviso SA, and Daon, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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