Reports
Global Facial Recognition Market Share, Growth, Size, Trends, Forecast: By Type: 2D Facial Recognition, 3D Facial Recognition, Facial Analytics; By Application: Security and Law Enforcement, Healthcare, Retail, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments; 2023-2028
Global Facial Recognition Market Outlook
The global facial recognition market is expected to grow from USD 5.2 billion in 2022 to USD 13.7 billion by 2028, growing at a CAGR of 17.2% in the forecast period of 2023-2028.
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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.
Market Segmentation
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.
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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.
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.
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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
- Thales SA
- NEC Corporation
- Cognitec Systems GmbH
- Aware, Inc.
- Ayonix Face Technoligies Inc.
- Microsoft Corporation
- FaceFirst, Inc.
- Fujitsu Limited
- FACEPHI BIOMETRÍA SA
- Other
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.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| 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, 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, Thales SA, NEC Corporation, Cognitec Systems GmbH, Aware, Inc., Ayonix Face Technoligies Inc., Microsoft Corporation, FaceFirst, Inc., Fujitsu Limited, and FACEPHI BIOMETRÍA SA, among 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. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Facial Recognition Market Analysis
8.1 Key Industry Highlights
8.2 Global Facial Recognition Historical Market (2018-2022)
8.3 Global Facial Recognition Market Forecast (2023-2028)
8.4 Global Facial Recognition Market by Type
8.4.1 2D Facial Recognition
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 3D Facial Recognition
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Facial Analytics
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.5 Global Facial Recognition Market by Application
8.5.1 Security and Law Enforcement
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Healthcare
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Retail
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Others
8.6 Global Facial Recognition Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2022)
8.6.4.2 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2022)
8.6.5.2 Forecast Trend (2023-2028)
9 North America Facial Recognition Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Facial Recognition Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Facial Recognition Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Facial Recognition Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Facial Recognition Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Panasonic Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Thales SA
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 NEC Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Cognitec Systems GmbH
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Aware, Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Ayonix Face Technoligies Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Microsoft Corporation
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 FaceFirst, Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Fujitsu Limited
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 FACEPHI BIOMETRÍA SA
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Facial Recognition Market: Key Industry Highlights, 2018 and 2028
2. Global Facial Recognition Historical Market: Breakup by Type (USD Million), 2018-2022
3. Global Facial Recognition Market Forecast: Breakup by Type (USD Million), 2023-2028
4. Global Facial Recognition Historical Market: Breakup by Application (USD Million), 2018-2022
5. Global Facial Recognition Market Forecast: Breakup by Application (USD Million), 2023-2028
6. Global Facial Recognition Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Facial Recognition Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Facial Recognition Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Facial Recognition Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Facial Recognition Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Facial Recognition Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Facial Recognition Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Facial Recognition Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Facial Recognition Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Facial Recognition Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Facial Recognition Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Facial Recognition Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global Facial Recognition Market Structure
Key Questions Answered in the Report
In 2022, the global facial recognition market attained a value of nearly USD 5.2 billion.
The market is projected to grow at a CAGR of 17.2% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 13.7 billion by 2028.
The major market drivers include the improving data security standards, the growing internet and smartphone penetration, increasing incidences of data theft and fraud, and the growing product demand from financial services sector.
The key market trends guiding the growth of the market include the growing technological advancements and the increasing adoption of automation in various enterprises.
The major regions in the market 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 market.
Security and law enforcement, healthcare, and retail, among others, are the significant applications of the product in the market.
The major players in the market are Panasonic Corporation, Thales SA, NEC Corporation, Cognitec Systems GmbH, Aware, Inc., Ayonix Face Technoligies Inc., Microsoft Corporation, FaceFirst, Inc., Fujitsu Limited, and FACEPHI BIOMETRÍA SA, among others.
Analyst Review
The global facial recognition market attained a value of USD 5.2 billion in 2022, 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 2023-2028, growing at a CAGR of 17.2%. The market is projected to reach USD 13.7 billion by 2028.
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, Thales SA, NEC Corporation, Cognitec Systems GmbH, Aware, Inc., Ayonix Face Technoligies Inc., Microsoft Corporation, FaceFirst, Inc., Fujitsu Limited, and FACEPHI BIOMETRÍA SA, 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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