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Facial Recognition Market by Component (Software, Tools, and Services), Application Area (Emotion Recognition, Attendance Tracking and Monitoring, Access Control, Law Enforcement), Vertical, and Region - Global Forecast to 2024

  • ID: 4791675
  • Report
  • Region: Global
  • 69 Pages
  • Markets and Markets
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The Global Facial Recognition Market Size to Grow at a CAGR of 16.6% During the Forecast Period

FEATURED COMPANIES

  • Animetrics
  • Ayonix Face Technologies
  • Daon
  • id3 Technologies
  • Innovatrics
  • NEC
  • MORE

The global facial recognition market size to grow from USD 3.2 billion in 2019 to USD 7.0 billion by 2024. The rising need for surveillance has become one of the major factors to drive the facial recognition market. The advent of new technologies, such as high-definition Closed Circuit Television (CCTV) and high-resolution 3D facial recognition technologies, along with iris recognition and emotion detection, has enhanced the facial recognition market. However, the integration of new facial recognition technologies with the existing legacy system is limiting the growth of facial recognition solutions in the market.

Government and defence sector among verticals to gain maximum traction during the forecast period

The increasing need for facial recognition-enabled biometrics solutions for identity management, border management, and homeland and military security management has fueled government organizations to largely implement facial recognition technologies. Additionally, government-owned large-scale programs, such as smart cities and smart transportation, need the adoption of facial recognition solutions.

3D facial recognition software tools to hold the largest market size during the forecast period

3D facial recognition software is capable of analyzing, identifying, and verifying facial characteristics of individuals. It overcomes the drawbacks of 2D facial recognition and can work in low light or completely dark areas. 3D facial recognition technology is used mostly in cross- border monitoring, document verification, and identity management.

Asia Pacific to grow at the highest CAGR during the forecast period

The Asia Pacific (APAC) region has a great scope for growth in the facial recognition market in terms of usage of the facial recognition solution. The facial recognition market in APAC is anticipated to grow significantly, due to huge governmental investments in security and surveillance infrastructure, increased public awareness, and the emergence of refined technologies backed by analytics. Furthermore, growth is anticipated with technological advancements, along with the mandatory regulations imposed by government regulatory entities to adopt the best-in-class technologies and standards. The fast expansion of regional enterprises in the APAC region is another crucial variant contributing to the growth of the facial recognition market.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people.

The breakup profiles of the primary participants are as follows:

  • By Company: Tier I: 15%, Tier II: 42%, and Tier III: 43%
  • By Designation: C-Level: 62%, Director Level: 20%, and Others: 18%
  • By Region: North America: 40%, APAC: 30%, Europe: 20%, MEA: 5%, and Latin America: 5%

The report includes the study of the key players offering facial recognition solutions. It profiles major vendors in the global facial recognition market including NEC (Japan), Aware (US), Gemalto (Netherlands), Ayonix Face Technologies (Japan), Cognitec Systems GmbH (Germany), NVISO SA (Switzerland), Daon (US), StereoVision Imaging (US), Techno Brain (Kenya), Neurotechnology (Lithuania), Innovatrics (Slovakia), id3 Technologies (France), IDEMIA (France), Animetrics (US), and MEGVII (China).

Research coverage

The report segments the global facial recognition market by component, application area, vertical, and region. The application area segment comprises emotion recognition, attendance tracking and monitoring, access control, law enforcement, and others (robotics and eLearning). The verticals segment comprises 7 verticals, namely, Banking, Financial Services, and Insurance (BFSI); government and defence; retail and eCommerce; healthcare; education; automotive; and others (manufacturing, telecom, and energy and utilities). The facial recognition market by offering has software tools and services. The report covers the facial recognition market with respect to 5 major regions: North America, Europe, APAC, Latin America, and the Middle East and Africa (MEA).

The report would help the market leaders and new entrants in the global facial recognition market in the following ways:

  • The report segments the market into various subsegments, hence it covers the market comprehensively. It provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are further split across applications and regions.
  • It helps in understanding the overall growth of the market. It also provides information about key market drivers, restraints, challenges, and opportunities.
  • It helps stakeholders in understanding their competitors better and gaining more insights to strengthen their positions in the market. The study also presents the positioning of the key players based on their product offerings and business strategies.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Animetrics
  • Ayonix Face Technologies
  • Daon
  • id3 Technologies
  • Innovatrics
  • NEC
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Stakeholders
1.3 Years Considered for the Study
1.4 Market Definition
1.5 Segment Definition

2 Research Methodology
2.1 Scope Definition
2.2 Research Design
2.3 Sample Selection
2.4 Data Collection
2.5 Data Analysis
2.6 Data Validation

3 Executive Summary
3.1 Key Trends
3.2 Geographic Insights
3.3 Market Dynamics
3.4 Use Cases

4 Facial Recognition Market Analysis, By Component Type
4.1 Introduction
4.2 Software Tools
4.3 Services

5 Market Analysis, By Application Area
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.2 Restraints
5.2.3 Opportunities
5.2.4 Challenges
5.3 Application Virtualization Market: Use Cases
5.4 Architecture of Application Virtualization

6 Facial Recognition Market Analysis, By Vertical
6.1 Introduction
6.2 By Solution
6.2.1 Agent-Based Solution
6.2.2 Agent Less Solution
6.3 Professional Services
6.3.1 Training and Consulting
6.3.2 Support and Maintenance

7 Market Analysis, By Region
7.1 North America
7.2 Europe
7.3 Asia-Pacific (APAC)
7.4 Middle-East and Africa (MEA)
7.5 Latin America

8 Competitive Landscape

9 Company Profile
Business Overview, Products Offered, Recent Development, SWOT Analysis, Author's View
9.1 NEC
9.2 Aware
9.3 Gemalto
9.4 Ayonix Face Technologies
9.5 Cognitec Systems
9.6 Nviso
9.7 Daon
9.8 Stereovision Imaging
9.9 Techno Brain
9.10 Neurotechnology
9.11 Innovatrics
9.12 id3 Technologies
9.13 Idemia
9.14 Animetrics
9.15 Megvii

Tentative List of Companies. Companies Can Change Afterwards.

10 Appendix
10.1 Industry Experts
10.2 Discussion Guide
10.3 Introduction RT: Real-Time Market Intelligence
10.4 Related Reports
10.5 Author Details

List of Tables (40 Tables)

Table 1 Global Facial Recognition Market Size, 2017-2024 (USD Million)
Table 2 Market Size By Region, 2018-2024 (USD Million)
Table 3 Market Size By Component, 2017-2024 (USD Million)
Table 4 Market Size By Software Tools, 2017-2024 (USD Million)
Table 5 Market Size By Service, 2017-2024 (USD Million)
Table 6 Market Size By Application Area, 2017-2024 (USD Million)
Table 7 Market Size By Verticals, 2017-2024 (USD Million)
Table 8 North America Market Size, By Region 2017-2024 (USD Million)
Table 9 North America Market Size By Component, 2017-2024 (USD Million)
Table 10 North America Market Size By Software Tools, 2017-2024 (USD Million)
Table 11 North America: Market Size By Service, 2017-2024 (USD Million)
Table 12 North America: Market Size By Application Area, 2017-2024 (USD Million)
Table 13 North America: Market Size By Vertical, 2017-2024 (USD Million)
Table 14 Europe: Facial Recognition Market Size, By Component, 2017-2024 (USD Million)
Table 15 Europe: Market Size By Software Tools, 2017-2024 (USD Million)
Table 16 Europe: Market Size By Service, 2017-2024 (USD Million)
Table 17 Europe: Market Size By Application Area, 2017-2024 (USD Million)
Table 18 Europe: Market Size By Vertical, 2017-2024 (USD Million)
Table 19 APAC: Market Size, By Component, 2017-2024 (USD Million)
Table 20 APAC: Market Size By Software Tools, 2017-2024 (USD Million)
Table 21 APAC: Market Size By Service, 2017-2024 (USD Million)
Table 22 APAC: Market Size By Application Area, 2017-2024 (USD Million)
Table 23 APAC: Market Size By Vertical, 2017-2024 (USD Million)
Table 24 MEA: Facial Recognition Market Size, By Component, 2017-2024 (USD Million)
Table 25 MEA: Market Size By Software Tools, 2017-2024 (USD Million)
Table 26 MEA: Market Size By Service, 2017-2024 (USD Million)
Table 27 MEA: Market Size By Application Area, 2017-2024 (USD Million)
Table 28 MEA: Market Size By Vertical, 2017-2024 (USD Million)
Table 29 LA: Market Size, By Component, 2017-2024 (USD Million)
Table 30 LA: Market Size By Software Tools, 2017-2024 (USD Million)
Table 31 LA: Market Size By Service, 2017-2024 (USD Million)
Table 32 LA: Market Size By Application Area, 2017-2024 (USD Million)
Table 33 LA: Market Size By Vertical, 2017-2024 (USD Million)
Table 34 BFSI: Facial Recognition Market Size, 2017-2024 (USD Million)
Table 35 Government and Defense: Market Size 2017-2024 (USD Million)
Table 36 Retail and eCommerce: Market Size 2017-2024 (USD Million)
Table 37 Healthcare: Market Size 2017-2024 (USD Million)
Table 38 Education: Market Size 2017-2024 (USD Million)
Table 39 Automotive: Market Size 2017-2024 (USD Million)
Table 40 Others: Market Size 2017-2024 (USD Million)

List of Figures (28 Figures)

Figure 1 Facial Recognition Market: Years Considered for the Study
Figure 2 Market Research Methodology
Figure 3 Market Top-Down and Bottom-Up Approaches
Figure 4 Market is Set to Grow Significantly Bolstered By Growing Demand for New Security and Authentication Services
Figure 5 Market Top 3 Verticals By 2024
Figure 6 Market Top 3 Application Areas By 2024
Figure 7 North America Currently Leads the Facial Recognition Market, While APAC is Expected to Be the Highest Growing Market By 2024
Figure 8 Market Drivers, Restraints, Opportunities, Constraints
Figure 9 Market By Component
Figure 10 Market By Software Tool
Figure 11 Market By Service
Figure 12 Market By Application Area
Figure 13 Market By Vertical
Figure 14 Facial Recognition Market: By Competitive Leadership Mapping
Figure 15 NEC: Company Snapshot
Figure 16 Aware: Company Snapshot
Figure 17 Gemalto (A Thale’s Company): Company Snapshot
Figure 18 Ayonix Face Technologies: Company Snapshot
Figure 19 Cognitec Systems GmbH: Company Snapshot
Figure 20 Nviso SA: Company Snapshot
Figure 21 Stereovision Imaging Inc.: Company Snapshot
Figure 22 Techno Brain: Company Snapshot
Figure 23 Neurotechnology: Company Snapshot
Figure 24 Innovatrics: Company Snapshot
Figure 25 id3 Technologies: Company Snapshot
Figure 26 Idemia: Company Snapshot
Figure 27 Animetrics: Company Snapshot
Figure 28 Megvii: Company Snapshot

Note: Product cover images may vary from those shown
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  • Animetrics
  • Aware
  • Ayonix Face Technologies
  • Cognitec Systems
  • Daon
  • Gemalto
  • id3 Technologies
  • Idemia
  • Innovatrics
  • Megvii
  • NEC
  • Neurotechnology
  • Nviso
  • Stereovision Imaging
  • Techno Brain
Note: Product cover images may vary from those shown
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