The Facial Recognition Market Research Report covers business strategies, qualitative and quantitative analysis, and emerging industry trends. It is a detailed and significant study. The study conducts a complete examination and analysis of the key elements of the global Facial Recognition market. The research analysts created this report after carefully examining the drivers, restraints, challenges, trends, and opportunities in the global Facial Recognition market.

The global facial recognition market size is expected to reach USD 13.87 billion at a steady CAGR of 15.7% in 2028, according to the latest analysis by Emergen Research. This steady market revenue growth can be attributed to the rising need for physical security, the increasing deployment and use of biometric devices, and the rising deployment of 5G technology. Rising demand for electronic devices such as mobile phones, wearable devices, and smart devices and an increase in technology adoption such as cloud-based technology and IoT are expected to continue to fuel growth of the global facial recognition market going ahead.

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Competitive Landscape:

The latest study provides an insightful analysis of the broad competitive landscape of the global Facial Recognition market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Facial Recognition market and pinpoint the fundamental growth trends. 

The leading market contenders listed in the report are:

NEC Corporation, Cognitec Systems, Aware Inc., FaceFirst Inc., Safran SA, Panasonic Corporation, Gemalto NV, Key Lemon Ltd., Ayonix Corporation, Face++

Global Facial Recognition Market Highlights:

• Regional demand estimation and forecast
• Product Mix Matrix
• R&D Analysis
• Cost-Benefit Analysis
• Pre-commodity pricing volatility
• Supply chain optimization analysis
• Technological updates analysis
• Raw Material Sourcing Strategy
• Competitive Analysis
• Mergers & Acquisitions
• Location Quotients Analysis
• Carbon Footprint Analysis
• Patent Analysis
• Vendor Management

Key Parameters Analyzed in This Section:

• Company Profiles
• Gross Revenue
• Profit margins
• Product sales trends
• Product pricing
• Industry Analysis
• Sales & distribution channels

Regional Segmentation:

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

Key Points Covered in This Section:

• Regional contribution
• Estimated revenue generation
• Vital data and information about the consumption rate in all the leading regional segments
• An expected rise in market share
• Forecast growth in the overall consumption rate

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Key Highlights From the Report

• In March 2021, NEC Corporation, which is a market leader in the integration of IT and network technologies, announced commence trial for Face Express, which is a new boarding procedure for international departure flights using facial recognition technology at Narita International Airport (NRT), Narita International Airport Corporation (NAA), Tokyo International Airport (Haneda Airport, HND), and Tokyo International Air Terminal Corporation (TIAT). Utilization of facial recognition consist of advanced biometric authentication technologies, Bio-Idiom.
• Software segment accounted for largest revenue share in the facial recognition market in 2020, which is projected to incline rapidly during the forecast period. Rising need of technology development such as cloud-based technology, Artificial Intelligence systems, and Internet of connectivity technology is boosting global facial recognition market growth.
• 3D facial recognition segment revenue growth rate is projected to incline rapidly during the forecast period. Rising demand for new and more innovative technologies to obtain more precise and accurate matches of biometrics to identify users are factors driving revenue growth of this segment.
• Identity management segment revenue growth rate is projected to incline rapidly during the forecast period. Increasing concerns regarding safety of home-based systems and rising number of cases of cyber-criminal activity are factor boosting market growth.
• Government segment accounted for largest revenue share in the facial recognition market in 2020, Increasing deployment of biometrics to establish identity of citizens and increasing digitalization of documents are factors further supporting market growth.
• North America accounted for largest revenue share contribution to the global facial recognition market in 2020. Technological advancements in user engagement, user security, and human identification in various sectors such as BFSI, healthcare, telecommunications, mobile phones, and defense is expected to boost growth of the facial recognition market to a significant extent. Increasing investments by major players in face recognition technologies for deployment at airports and large enterprises is expected to further support market growth.

Market Overview:

The report bifurcates the Facial Recognition market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Segments Covered in this report are:

• Component Outlook (Revenue, USD Billion; 2018–2028)
  • Hardware
  • Software

• Technology Outlook (Revenue, USD Billion; 2018–2028)
  • 2D Facial Recognition
  • 3D Facial Recognition
  • Facial Analytics

• Application Outlook (Revenue, USD Billion; 2018–2028)
  • Physical Security
  • ID Management
  • Criminal Investigation
  • Business Intelligence
  • Photo Indexing and Sorting

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Key reasons to buy the Global Facial Recognition Market report:

1. The latest report comprehensively studies the global Facial Recognition market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
2. The report offers an insightful analysis of the regional outlook of the market.
3. It offers a detailed account of the end-use applications of the products services offered by this industry.
4. The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.

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