Market By Technology, End-user, And Geography | Forecast 2019-2028
Triton Market Research predicts that the global facial recognition market would rise with a CAGR of 14.30% during the forecast period 2019-2028. The market was valued at $3367.98 million in the year 2019, and is expected to rise to a revenue of about $11214.55 million by the year 2028.
A biometrics software that is used for individual authentication and identification is known as facial recognition. The authentication and identification process is carried out by comparing the facial features of an individual that are stored in a database.
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Triton Market Research's report on the facial recognition market provides an in-depth insight into the market. The detailed analysis of the market includes key market insights, Porter's five force analysis, and market attractiveness index.
Factors such as the need for surveillance systems, the increasing adoption of facial recognition in the consumer electronics sector, and technological advancements in recognition systems are expected to foster the growth of the market during the forecast period. The advancements in facial recognition software, such as SDK, have improved the accuracy of recognizing facial features. The increased awareness amongst users and improved quality of products are likely to lead to increased adoption of facial recognition software globally.
Furthermore, the integration of facial biometrics in smart cards and the commercialization of facial recognition technology are expected to act as some opportunities for the market. IoT can be used to maintain residential and enterprise security. Since a facial scanner is embedded in mobile devices, it can be used for the authentication of individuals to allow them access to residential systems, including lighting systems and door locks.
Facial recognition systems, which are used instead of PINs and passwords, act as authorization systems for a number of processes. Any variance in the behavioral patterns of end-users can prevent their authorized access to secure premises. Accuracy issues in facial biometrics patterns can result in a false rejection. One such issue that lies with the enrollment process is poor-quality images, called the failure to enroll rate. The accuracy of facial recognition systems is also affected by the changing structure of a person's face as they age. Furthermore, privacy issues, the lack of established international standards, and competition from non-biometric technologies are some of the key restraining factors of the facial recognition market.
Key geographies covered in the global facial recognition market are:
• North America: United States and Canada
• Europe: United Kingdom, France, Germany, Spain, Italy, Russia, and Rest of Europe
• Asia-Pacific: China, Japan, India, Australia, South Korea, ASEAN Countries, and Rest of Asia-Pacific
• Latin America: Brazil, Mexico, and Rest of Latin America
• Middle East and Africa: Saudi Arabia, Turkey, United Arab Emirates, South Africa, and Rest of Middle East & Africa
The report on the global facial recognition market includes segmentation analysis on the basis of technology and end-user.
• Market by Technology:
O 3D Facial Recognition
O 2D Facial Recognition
O Facial Analytics
• Market by End-user:
O Security and Law Enforcement
O Healthcare
O Retail
O Other
The key companies profiled in the facial recognition market report include ID3 Technologies, Crossmatch Technologies, Daon Inc, Ayonix Corporation, Panasonic Corporation, Idemia France SAS, 3M Company, Nuance Communications Inc, Animetrics Inc, Facephi Biometric SA, NEC Corporation, Cognitec Systems GmbH, Gemalto NV (Thales Group), Aware Inc, and Facefirst Inc.
Market by Technology (Data ana ..
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1.   GLOBAL FACIAL RECOGNITION MARKET - SUMMARY          Â
2.   INDUSTRY OUTLOOK
2.1. MARKET DEFINITIONÂ Â Â Â Â
2.2. KEY INSIGHTSÂ Â Â Â Â Â
2.2.1.  FACIAL RECOGNITION APPLICATION IN MOBILE SECURITY AND DRONESÂ
2.2.2.  EMERGENCE OF FACIAL ANALYTICS
2.3. IMPACT OF COVID-19 ON FACIAL RECOGNITIONÂ
2.4. PORTER’S FIVE FORCE ANALYSIS  Â
2.4.1.  THREAT OF NEW ENTRANTS  Â
2.4.2.  THREAT OF SUBSTITUTE          Â
2.4.3.  BARGAINING POWER OF BUYERS    Â
2.4.4.  BARGAINING POWER OF SUPPLIERS
2.4.5.  THREAT OF COMPETITIVE RIVALRY Â
2.5. MARKET ATTRACTIVENESS INDEXÂ Â
2.6. VENDOR SCORECARDÂ
2.7. MARKET DRIVERSÂ Â Â Â Â Â Â Â Â
2.7.1.  NEED FOR SURVEILLANCE SYSTEMS         Â
2.7.2.  INCREASING ADOPTION OF FACIAL RECOGNITION IN CONSUMER ELECTRONICS SECTOR   Â
2.7.3.  TECHNOLOGICAL ADVANCEMENTS IN RECOGNITION SYSTEMS
2.8. MARKET RESTRAINTSÂ Â
2.8.1.  PRIVACY ISSUESÂ
2.8.2.  HIGH ERROR RATES      Â
2.9. MARKET OPPORTUNITIESÂ Â Â Â Â Â Â
2.9.1.  INTEGRATION OF FACIAL BIOMETRICS IN SMART CARDS       Â
2.9.2.  COMMERCIALIZATION OF FACIAL RECOGNITION TECHNOLOGY
2.10. MARKET CHALLENGESÂ Â Â Â Â Â Â Â Â Â
2.10.1. LACK OF ESTABLISHED INTERNATIONAL STANDARDS Â
2.10.2. COMPETITION FROM NON-BIOMETRICS TECHNOLOGIES
2.11. WORKFLOW OF FACIAL RECOGNITION SYSTEMSÂ Â Â Â Â Â Â Â
2.12. ADVANTAGES AND DISADVANTAGES OF FACIAL RECOGNITION SYSTEMSÂ Â Â Â Â Â Â Â
3.   GLOBAL FACIAL RECOGNITION MARKET OUTLOOK – BY TECHNOLOGY
3.1. 3D FACIAL RECOGNITIONÂ Â Â Â Â Â Â Â
3.2. 2D FACIAL RECOGNITIONÂ Â Â Â Â Â Â Â
3.3. FACIAL ANALYTICSÂ Â Â Â Â Â Â Â
4.   GLOBAL FACIAL RECOGNITION MARKET OUTLOOK - BY END-USER      Â
4.1. SECURITY AND LAW ENFORCEMENTÂ Â Â Â Â Â Â Â Â
4.2. HEALTHCAREÂ Â Â Â Â Â
4.3. RETAILÂ Â Â Â Â Â Â
4.4. OTHER END-USERSÂ Â Â Â Â Â
5.   GLOBAL FACIAL RECOGNITION MARKET – REGIONAL OUTLOOKÂ
5.1. NORTH AMERICA
5.1.1.  MARKET BY TECHNOLOGY      Â
5.1.2.  MARKET BY END-USERÂ
5.1.3.  COUNTRY ANALYSIS     Â
5.1.3.1. UNITED STATESÂ Â Â Â Â Â Â
5.1.3.2. CANADAÂ Â Â Â Â Â Â Â Â
5.2. EUROPEÂ Â Â Â
5.2.1.  MARKET BY TECHNOLOGY      Â
5.2.2.  MARKET BY END-USERÂ
5.2.3.  COUNTRY ANALYSIS     Â
5.2.3.1. UNITED KINGDOMÂ Â Â Â
5.2.3.2. GERMANYÂ Â Â Â Â Â
5.2.3.3. FRANCEÂ Â Â Â Â Â Â Â Â Â
5.2.3.4. SPAINÂ Â
5.2.3.5. ITALYÂ Â Â Â
5.2.3.6. RUSSIA
5.2.3.7. REST OF EUROPEÂ Â Â
5.3. ASIA-PACIFICÂ Â Â Â Â Â Â
5.3.1.  MARKET BY TECHNOLOGY      Â
5.3.2.  MARKET BY END-USERÂ
5.3.3.  COUNTRY ANALYSIS     Â
5.3.3.1. CHINAÂ Â
5.3.3.2. JAPANÂ
5.3.3.3. INDIAÂ Â Â Â
5.3.3.4. SOUTH KOREAÂ Â Â Â Â Â Â Â Â
5.3.3.5. ASEAN COUNTRIES
5.3.3.6. AUSTRALIA & NEW ZEALANDÂ Â Â Â Â Â
5.3.3.7. REST OF ASIA-PACIFICÂ Â Â Â Â Â
5.4. LATIN AMERICAÂ Â
5.4.1.  MARKET BY TECHNOLOGY      Â
5.4.2.  MARKET BY END-USERÂ
5.4.3.  COUNTRY ANALYSIS     Â
5.4.3.1. BRAZIL
5.4.3.2. MEXICOÂ Â Â Â Â Â Â Â Â Â Â
5.4.3.3. REST OF LATIN AMERICAÂ
5.5. MIDDLE EAST AND AFRICAÂ Â Â Â Â
5.5.1.  MARKET BY TECHNOLOGY      Â
5.5.2.  MARKET BY END-USERÂ
5.5.3.  COUNTRY ANALYSIS     Â
5.5.3.1. UNITED ARAB EMIRATESÂ Â
5.5.3.2. TURKEYÂ Â Â Â Â Â Â Â Â Â
5.5.3.3. SAUDI ARABIAÂ Â Â Â Â Â Â Â Â Â
5.5.3.4. SOUTH AFRICAÂ Â Â Â Â Â Â Â Â
5.5.3.5. REST OF MIDDLE EAST & AFRICAÂ Â Â Â Â Â Â Â Â Â
6.   COMPETITIVE LANDSCAPE
6.1. 3M COMPANYÂ Â Â Â Â Â
6.2. COGNITEC SYSTEMS GMBHÂ Â Â
6.3. NEC CORPORATIONÂ Â Â Â Â Â
6.4. FACEFIRST INCÂ Â Â
6.5. NUANCE COMMUNICATIONS INCÂ Â Â Â Â Â
6.6. CROSSMATCH TECHNOLOGIES Â Â Â Â
6.7. ANIMETRICS INCÂ
6.8. DAON INCÂ Â
6.9. PANASONIC CORPORATIONÂ Â Â
6.10. GEMALTO NV (THALES GROUP)Â Â Â Â Â Â
6.11. AWARE INCÂ Â Â Â Â Â Â Â
6.12. FACEPHI BIOMETRIC SAÂ Â Â Â Â Â Â Â
6.13. AYONIX CORPORATIONÂ Â Â Â Â Â Â Â Â
6.14. IDEMIA FRANCE SASÂ Â
6.15. ID3 TECHNOLOGIESÂ Â Â Â
7.   METHODOLOGY & SCOPE Â
7.1. RESEARCH SCOPE & DELIVERABLESÂ Â Â Â Â Â Â Â
7.2. SOURCES OF DATAÂ Â Â Â Â Â Â
7.3. RESEARCH METHODOLOGYÂ Â
TABLE 1: GLOBAL FACIAL RECOGNITION MARKET, BY GEOGRAPHY, 2019-2028 (IN $ MILLION)
TABLE 2: MARKET ATTRACTIVENESS INDEX
TABLE 3: VENDOR SCORECARD
TABLE 4: GLOBAL FACIAL RECOGNITION MARKET, BY TECHNOLOGY, 2019-2028 (IN $ MILLION)
TABLE 5: GLOBAL FACIAL RECOGNITION MARKET, BY END-USER, 2019-2028 (IN $ MILLION)
TABLE 6: GLOBAL FACIAL RECOGNITION MARKET, BY GEOGRAPHY, 2019-2028 (IN $ MILLION)
TABLE 7: NORTH AMERICA FACIAL RECOGNITION MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)
TABLE 8: NORTH AMERICA FACIAL RECOGNITION MARKET, BY TECHNOLOGY, 2019-2028 (IN $ MILLION)
TABLE 9: NORTH AMERICA FACIAL RECOGNITION MARKET, BY END-USER, 2019-2028 (IN $ MILLION)
TABLE 10: EUROPE FACIAL RECOGNITION MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)
TABLE 11: EUROPE FACIAL RECOGNITION MARKET, BY TECHNOLOGY, 2019-2028 (IN $ MILLION)
TABLE 12: EUROPE FACIAL RECOGNITION MARKET, BY END-USER, 2019-2028 (IN $ MILLION)
TABLE 13: ASIA-PACIFIC FACIAL RECOGNITION MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)
TABLE 14: ASIA-PACIFIC FACIAL RECOGNITION MARKET, BY TECHNOLOGY, 2019-2028 (IN $ MILLION)
TABLE 15: ASIA-PACIFIC FACIAL RECOGNITION MARKET, BY END-USER, 2019-2028 (IN $ MILLION)
TABLE 16: LATIN AMERICA FACIAL RECOGNITION MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)
TABLE 17: LATIN AMERICA FACIAL RECOGNITION MARKET, BY TECHNOLOGY, 2019-2028 (IN $ MILLION)
TABLE 18: LATIN AMERICA FACIAL RECOGNITION MARKET, BY END-USER, 2019-2028 (IN $ MILLION)
TABLE 19: MIDDLE EAST AND AFRICA FACIAL RECOGNITION MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)
TABLE 20: MIDDLE EAST AND AFRICA FACIAL RECOGNITION MARKET, BY TECHNOLOGY, 2019-2028 (IN $ MILLION)
TABLE 21: MIDDLE EAST AND AFRICA FACIAL RECOGNITION MARKET, BY END-USER, 2019-2028 (IN $ MILLION)
FIGURE 1: PORTER’S FIVE FORCE ANALYSIS
FIGURE 2: WORKFLOW OF FACIAL RECOGNITION SYSTEMS
FIGURE 3: GLOBAL FACIAL RECOGNITION MARKET, BY 3D FACIAL RECOGNITION, 2019-2028 (IN $ MILLION)
FIGURE 4: GLOBAL FACIAL RECOGNITION MARKET, BY 2D FACIAL RECOGNITION, 2019-2028 (IN $ MILLION)
FIGURE 5: GLOBAL FACIAL RECOGNITION MARKET, BY FACIAL ANALYTICS, 2019-2028 (IN $ MILLION)
FIGURE 6: GLOBAL FACIAL RECOGNITION MARKET, BY SECURITY AND LAW ENFORCEMENT, 2019-2028 (IN $ MILLION)
FIGURE 7: GLOBAL FACIAL RECOGNITION MARKET, BY HEALTHCARE, 2019-2028 (IN $ MILLION)
FIGURE 8: GLOBAL FACIAL RECOGNITION MARKET, BY RETAIL, 2019-2028 (IN $ MILLION)
FIGURE 9: GLOBAL FACIAL RECOGNITION MARKET, BY OTHER END-USERS, 2019-2028 (IN $ MILLION)
FIGURE 10: GLOBAL FACIAL RECOGNITION MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)
FIGURE 11: UNITED STATES FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 12: CANADA FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 13: UNITED KINGDOM FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 14: GERMANY FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 15: FRANCE FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 16: SPAIN FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 17: ITALY FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 18: RUSSIA FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 19: REST OF EUROPE FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 20: CHINA FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 21: JAPAN FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 22: INDIA FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 23: SOUTH KOREA FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 24: ASEAN COUNTRIES FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 25: AUSTRALIA & NEW ZEALAND FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 26: REST OF ASIA-PACIFIC FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 27: BRAZIL FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 28: MEXICO FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 29: REST OF LATIN AMERICA FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 30: UNITED ARAB EMIRATES FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 31: TURKEY FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 32: SAUDI ARABIA FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 33: SOUTH AFRICA FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 34: REST OF MIDDLE EAST & AFRICA FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)