Report Code : BII 950 Jan-2022 Information & Technology Format : PDF Pages : 212
Facial recognition alludes to a biometric innovation for recognizing faces and checking the personality of a person. Facial recognition programming and frameworks utilize profound learning calculations to catch, investigate and look at designs, live catches or advanced pictures to the put away face print vault to check the personality. It takes out the requirement for actual contact for confirmation, can be incorporated with existing security framework and offers a better degree of safety. It likewise empowers quicker information handling and works with mechanized validation.
Therefore, facial recognition finds broad applications for country security, criminal examinations character the board, astute signage and photograph ordering and arranging. The rising rates of cyberattacks, psychological oppressor exercises and personality robberies across the globe are one of the key elements driving the development of the market. Besides, the boundless use of brilliant observation frameworks, for example, multifaceted verification frameworks, is animating the market development. Facial recognition gives significant level security to public and private associations through precise distinguishing proof of people for access control.
According to Business Intelligence Insights “Facial Recognition Market" is expected to grow from USD 3,919.50 million in 2021 to USD 13576.04 million by 2030, at a CAGR of 16.80% during the forecast period 2022-2030
The market for facial recognition has filled fundamentally as of late; be that as it may, attributable to the episode of the COVID-19 pandemic, the market encountered an abrupt blast in 2020. This is ascribed to state run administrations carrying out lockdowns across all the major nations. Following the recuperation from the COVID-19 pandemic, the facial recognition industry is estimated to witness substantial growth. Besides, the worldwide facial recognition market is impacted by a few industry patterns as of now, including the utilization of multi-sensor cameras and expanding concerns connected with online protection, IoT video investigation and man-made reasoning, and distributed computing.
• Drivers
o Increasing investments in facial recognition technologies by government and defense sectors
o Growing adoption of cloud-based technology
• Restraints
o Difficulty in countering legal risks and eDiscovery
By End-User :
In end use outlook category, the government category projected to witness the fastest growth
The developing number of government and guard interests in carrying out facial recognition innovation for different exercises, for example, line control and criminal recognizable proof, are driving the adoption of the facial recognition technology in the government sector. Facial recognition facilitates the course of ID and confirmation; consequently it is being taken on broadly for migration at air terminals and participation following and observing. The rising innovative headways across areas are empowering endeavors to embrace facial recognition devices and administrations for simpler manual handling and efficient.
By Technology:
In application outlook category the automated security and surveillance dominated the market with more than 28% of the market share
The security and surveillance segment should record a basic ascent over the measure time span as a result of the extended gathering of facial affirmation advancement in security and perception systems to have its execution in high-security areas. For instance, policing are using reconnaissance structures to find missing children or to uncover criminals' appearances. Moreover, business visionaries slant toward presenting facial recognition based security systems to screen people and recognize their appearances when they appear at their stores.
By Technology Outlook:
• 2D
• 3D
• Facial Analytics
By Application Outlook:
• Emotion Recognition
• Attendance Tracking and Monitoring
• Access Control
• Security & Surveillance
• Others
By End-use Outlook:
• Retail & E-commerce
• Media & Entertainment
• BFSI
• Automobile & Transportation
• Telecom & IT
• Government
• Healthcare
• Others
By Region:
• North America
o U.S.
o Canada
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o Rest of Asia Pacific
• Latin America
o Brazil
o Mexico
o Rest of Latin America
• Middle East and Africa
o UAE
o South Africa
o Rest of Middle East and Africa (MEA)
• Aware, Inc.;
• FacePhi.;
• NEC Corporation;
• IDEMIA;
• TECH5 SA;
• Onfido;
• Ayonix Corporation;
• Gemalto NV;
• Cognitec Systems GmbH;
• Fujitsu
World map title will be here...
North America dominated the market with more than 33% of the market share
North America rules the facial recognition market and its piece of the pie will keep on extending during the conjecture time frame attributable to the rising reception of cutting edge and associated advances by the undertakings combined with rising infrastructural development of the observation business around here. Asia-Pacific then again will project the most elevated development rate during the forecast period. This is a direct result of fast innovative progressions in the field of data innovation and expanding infiltration of PDA and other customer strong items and rising digitization of arising economies.
Report Attributes |
Details |
---|---|
Market Size Value in 2021 | USD 3,919.50 million |
Market Size Value in 2030 | USD 13576.04 million |
Growth Rate | +16.80% |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2018-2020 |
Forecast Units | USD million |
Countries Covered | North America: U.S., Canada, Europe: Germany, U.K., France, Italy, Spain, Rest of Europe. Asia Pacific: China, India, Japan, Rest of Asia Pacific. Latin America: Brazil, Mexico, Rest of Latin America. Middle East and Africa: UAE, South Africa, Rest of Middle East and Africa (MEA) |
Segments Covered | By Technology Outlook, By Application Outlook, By End-use Outlook, By Region |
Competitive landscape | Leading companies, Competitive strategies and Consumer engagement scope |
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