Facial recognition market Size – USD 4.29 Billion in 2020, Market Growth – at a CAGR of 15.7%, Market Trend

VANCOUVER, BRITISH COLUMBIA, CANADA, January 24, 2023 /EINPresswire.com/ -- The Latest research study released by Emergen Research on "Facial recognition market" with 150+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know how of the current market development, landscape, technologies, drivers, opportunities, market viewpoint and status. Understanding the segments helps in identifying the importance of different factors that leads the market growth.

Facial Recognition Market By Component (Hardware, Software) By Technology (2D Facial Recognition, 3D Facial Recognition, And Facial Analytics) By Application (Physical Security, ID Management, Criminal Investigation, Business Intelligence Photo Indexing And Sorting) By End Use (BFSI, Healthcare, IT & Telecommunication and Government), and By Region Forecast to 2028

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Key Highlights in 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.

 Key Players Included in this report are:

NEC Corporation

Cognitec Systems

Aware Inc.

FaceFirst Inc

Safran SA

Panasonic Corporation

Gemalto NV

Key Lemon Ltd.

Ayonix Corporation

Face++

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What can be explored with the Facial recognition market Study?

Gain Market Understanding

Identify Growth Opportunities

Analyze and Measure the Global Facial recognition market by Identifying Investment across various Industry Verticals

Understand the Trends that will drive Future Changes in Facial recognition market

Understand the Competitive Scenarios

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Identify the Right Verticals

Market Segmentation Analysis

Players can concentrate on high-growth regions and, if necessary, modify their business plan according to the research report. The Facial recognition market is divided into a variety of categories, uses, and geographical areas. Players gain from the report's regional segmentation research since it offers pertinent data and insights into important geographic marketplaces.

COVID-19 Impact Analysis

The post-COVID-19 phase has undergone substantial change, and Facial recognition market research highlights the opportunities and difficulties that still exist. This study report thoroughly examines the effects of the COVID-19 pandemic on the global economy and post-pandemic market behaviour.

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Regional Outlook

We carefully examined each division, regional classification, national study, and subject-specific data set during the market research. This Facial recognition market research report's goal is to look at growth patterns, promising futures, important obstacles, and expected results. Information on significant market participants, strategic alliances, plans, new product launches, and joint ventures are all included in the research.

Key Reasons to Purchase Facial recognition market Report

The reader will be in a position to comprehend and react to marketing strategies like using strengths and conducting a SWOT analysis.

The research looks into the dynamics of the target market and how the conflict between Russia and Ukraine has affected it.

Emergen Research has segmented the global facial recognition market on the basis of component, technology, application, end use, and region:

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

End use Outlook (Revenue, USD Billion; 2018–2028)
BFSI

IT & Telecommunication

Healthcare

Government

Regional Outlook (Revenue, USD Billion; 2018–2028)
North America

U.S.

Canada

Mexico

Europe

Germany

France

U.K.

BENELUX

Switzerland

Rest of Europe

Asia Pacific

China

Japan

South Korea

India

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of MEA

Look Over transcripts provided by Emergen Research

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