Press Releases

The report " Facial Recognition Market by Component (Software Tools (2D Facial Recognition, 3D Facial Recognition, and Facial Analytics) and Services (Training and Consulting and Support & Maintenance)), by Application (Law Enforcement, Access Control, Emotional Recognition, Attendance Tracking and Monitoring, and Others), by Industry Vertical (Government and Transportation, Military and Defense, BSFI, Retail & E-Commerce, Hospitality, Healthcare, Education, Automotive, and Others) - Global Forecast to 2030", The global facial recognition market is anticipated to grow at a CAGR 18.5% during the forecast period. Facial recognition technology is a category of image recognition technology that has been prominent and widely accepted over the years. This technology uses a connected or digital camera to detect faces in captured images and then quantifies the image's features to match against templates stored in the database. Because facial recognition technology is so versatile, it is rapidly being adopted by a wide range of end-users. The increased demand for face detection systems to improve safety and security, surging applications in physical security and intelligent signage will bolster the market development of global facial recognition industry during the forecast period. Moreover, technological development like 3D recognition systems and cloud-based platforms along with rising usage of facial recognition across several industry verticals will propel the market growth of the global facial recognition industry. During the projected period, the development of drone and mobile security applications is anticipated to present lucrative prospects for the face recognition market size to increase.

In June 2022, the leading provider of Human Behavioural Analytics AI, nViso SA (NVISO), is happy to announce that a commercial pilot using its Human Behavioural Analytics AI software solution has begun to assist Siemens Healthineers in creating new intelligent applications. The collaboration will include real-time deep learning-based AI Apps for face identification, head pose recognition, facial recognition, and emotion recognition in an initial trial setting. These AI Apps are specially made for hardware with limited resources, necessitating low-power, low-memory footprints distributed at the periphery without a network connection.

Bowse 63 market data Tables and 40 Figures spread through 200 Pages and in-depth TOC on " Facial Recognition Market by Component (Software Tools (2D Facial Recognition, 3D Facial Recognition, and Facial Analytics) and Services (Training and Consulting and Support & Maintenance)), by Application (Law Enforcement, Access Control, Emotional Recognition, Attendance Tracking and Monitoring, and Others), by Industry Vertical (Government and Transportation, Military and Defense, BSFI, Retail & E-Commerce, Hospitality, Healthcare, Education, Automotive, and Others), and Region - Global Forecast to 2030

By industry vertical, BFSI is anticipated to have significant growth during the forecast period.

The BFSI sector is anticipated to have significant growth during the forecast period owing to increased adoption of facial recognition solutions in data analytics, cybersecurity, database systems, and data analytics, they aid in identifying and verifying applications. Online banking and virtual transactions have become more ubiquitous over the past several years as a result of the BFSI sector's increased adoption of digital technologies. In addition to online banking, many banks use face verification as a way to access accounts at ATMs. This effectively eliminates the need to swipe a card because face scanning helps protect online fraud.

Global Facial Recognition Market Segmentation Analysis

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“Asia-Pacific is anticipated to have a high CAGR in the Facial Recognition Market during the forecast period.”

Asia-Pacific is expected to have a high CAGR during the forecast period owing to robust technological development in IT sector and rising penetration of smartphones and other consumer electronics products and surging digitalization in developing nations. Moreover, initiatives by government in several sectors like transportation, automotive, retail, etc. to adopt facial recognition technologies will propel the growth in the region.

Some of the major players in the global Facial Recognition industry include NEC Corporation, Aware, Inc., Ayonix corp., Cognitec Systems GmbH, NVISO SA, Neurotechnology, Microsoft, Thales, Fulcrum Biometrics, and Pangiam Trueface.

Scope of the Report

Global Facial Recognition Market Coverage

Component Insight and Forecast 2018-2030

• Software Tools
  • 2D Facial Recognition
  • 3D Facial Recognition
  • Facial Analytics
• Services
  • Training and Consulting
  • Support & Maintenance

Application Insight and Forecast 2018-2030

• Law Enforcement
• Access Control
• Emotional Recognition
• Attendance Tracking and Monitoring
• Others

Industry Vertical Insight and Forecast 2018-2030

• Government and Transportation
• Military and Defense
• BSFI
• Retail & E-Commerce
• Hospitality
• Healthcare
• Education
• Automotive
• Others

Geographical Segmentation

Facial Recognition Market by Region

North America

• By Component
• By Application
• By Industry Vertical
• By Country – U.S., Canada, and Mexico

Europe

• By Component
• By Application
• By Industry Vertical
• By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

• By Component
• By Application
• By Industry Vertical
• By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

• By Component
• By Application
• By Industry Vertical
• By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries