Facial Recognition Market Size, Share, and Analysis, By Component (Software, Service), By Technology (3D Facial Recognition, 2D Facial Recognition, Facial Analytics), By Application (Emotion Recognition, Attendance Tracking and Monitoring, Access Control, Security & Surveillance and Others), By End User (IT & Telecommunication, BFSI, Retail, Healthcare, Automotive, Government and Defense, Others) and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034.

December 2024 | 544 pages | ID: F3A5CA914F4DEN
Fatpos Global

US$ 5,250.00

E-mail Delivery (PDF)

Download PDF Leaflet

Accepted cards
Wire Transfer
Checkout Later
Need Help? Ask a Question
Facial Recognition Market Size, Share, and Analysis, By Component (Software, Service), By Technology (3D Facial Recognition, 2D Facial Recognition, Facial Analytics), By Application (Emotion Recognition, Attendance Tracking and Monitoring, Access Control, Security & Surveillance and Others), By End User (IT & Telecommunication, BFSI, Retail, Healthcare, Automotive, Government and Defense, Others) and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034.

PRODUCT OVERVIEW

The market for facial recognition is expected to expand at a compound annual growth rate (CAGR) of 16.3% from 2024 to 2034. Initially valued at USD 5.9 billion in 2023, it is projected to surge to USD 31.3 billion by the end of 2034.

Facial Recognition Technology consists of the automated process of identifying and authenticating different individuals based on their facial traits. It generally relies on different algorithms that help in analyse patterns and unique characteristics of a person’s face, which includes distance between eyes and nose. In recent years the technology has gained significant traction and adoption across several industries due to its better ability to provide more effective and accurate authentication and documentation solutions. This technology is being used in industries such as security, law enforcement, banking, and retail to improve security, speed up operations, and enhance consumer experiences. In addition, its application in mobile phones for security and at airports for passenger verification demonstrate its growing breadth and potential. This rising application emphasizes its importance in modern security and identity verification frameworks.

MARKET HIGHLIGHTS

Facial Recognition Market is anticipated to reach USD 31.3 billion, growing at a CAGR of 16.3% during the forecast period due to the increasing safety concerns for security and surveillance with advancements in artificial intelligence. The technology's capacity to provide quick and precise identity verification is essential for reducing fraud and increasing user experience, notably in banking and mobile phone access. Moreover, developments in artificial intelligence and machine learning have further improved the accuracy and reliability of facial recognition systems. In future, adoption of facial recognition is likely to grow even more as a result of its incorporation into smart city initiatives and rising public safety and security concerns, pushing continued market expansion.

Facial Recognition Market Segments:
  • By Component
  • Software
  • Service
  • By Technology
  • 3D Facial Recognition
  • 2D Facial Recognition
  • Facial Analytics
  • By Application
  • Emotion Recognition
  • Attendance Tracking and Monitoring
  • Access Control
  • Security & Surveillance
  • Others
  • By End User
  • IT & Telecommunication
  • BFSI
  • Retail
  • Healthcare
  • Automotive
  • Government and Defense
  • Others
MARKET DYNAMICS

Growth Drivers

Increasing Adoption of Facial Recognition Technology in Security and Surveillance has been a Major Development Trend

Rising Demand for Contactless Biometric Authentication Systems is Accelerating the Need for Improved Solutions

Restraint

Privacy Concerns Regarding Collection and Usage of Facial Data Pose a Direct Challenge to Market Growth

Key Players
  • Cognitec Systems GmbH
  • NEC Corporation
  • Amazon Rekognition
  • Aware, Inc.
  • Gemalto NV(Thales Group)
  • Ayonix Corporation
  • FaceFirst, Inc.
  • Safran SA
  • Animetrics, Inc.
  • Idemia (formerly Morpho)
  • Herta Security
  • Megvii (Face++)
  • Kairos AR, Inc.
  • Microsoft Corporation
  • FacePhi Biometrнa S.A.
  • Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
Global Laboratory Temperature Control Units Market is further segmented by region into:
  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Reasons to Purchase this Report
  • Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
  • Provision of market value (USD Billion) data for each segment and sub-segment
  • Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
  • Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
  • Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
  • Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
  • The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
  • Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
  • Provides insight into the market through Value Chain
  • Market dynamics scenario, along with growth opportunities of the market in the years to come
  • 3-month post-sales analyst support.
1.EXECUTIVE SUMMARY

1.1. Regional Market Share
1.2.Business Trends
1.3. Facial Recognition Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot

2. RESEARCH METHODOLOGY

2.1.Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4.Primary Research
2.5.Secondary Research
  2.5.1.Paid Sources
  2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation

3. MARKET CHARACTERISTICS

3.1.Market Definition
3.2.Facial Recognition Market: COVID-19 Impact
3.3. Key Segmentations
3.4.Key Developments
3.5.Allied Industry Data

4.FACIAL RECOGNITION MARKET – INDUSTRY INSIGHTS

4.1. Industry Segmentation
4.2.COVID-19 overview on world economy
4.3.Industry ecosystem Channel analysis
4.4.Innovation & Sustainability

5. MACROECONOMIC INDICATORS

6. RECENT DEVELOPMENTS

7. MARKET DYNAMICS

7.1.Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4.Market Restraints
7.5. Market Trends

8.RISK ANALYSIS

9. MARKET ANALYSIS

9.1.Porters Five Forces
9.2. PEST Analysis
  9.2.1.Political
  9.2.2. Economic
  9.2.3. Social
  9.2.4. Technological

10.FACIAL RECOGNITION MARKET

10.1.Overview
10.2. Historical Analysis (2019-2022)
  10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast

11. FACIAL RECOGNITION MARKET SIZE & FORECAST 2024A-2034F

11.1. Overview
11.2.Key Findings
11.3.Market Segmentation
  11.3.1.By Component
    11.3.1.1. Software
      11.3.1.1.1.By Value (USD Million) 2024-2034F
      11.3.1.1.2. Market Share (%) 2024-2034F
      11.3.1.1.3. Y-o-Y Growth (%) 2024-2034F
    11.3.1.2.Service
      11.3.1.2.1. By Value (USD Million) 2024-2034F
      11.3.1.2.2.Market Share (%) 2024-2034F
      11.3.1.2.3.Y-o-Y Growth (%) 2024-2034F
  11.3.2. By Technology
      11.3.2.1.3D Facial Recognition
      11.3.2.1.1. By Value (USD Million) 2024-2034F
      11.3.2.1.2.Market Share (%) 2024-2034F
      11.3.2.1.3.Y-o-Y Growth (%) 2024-2034F
    11.3.2.2. 2D Facial Recognition
      11.3.2.2.1.By Value (USD Million) 2024-2034F
      11.3.2.2.2. Market Share (%) 2024-2034F
      11.3.2.2.3. Y-o-Y Growth (%) 2024-2034F
    11.3.2.3. Facial Analytics
      11.3.2.3.1.By Value (USD Million) 2024-2034F
      11.3.2.3.2. Market Share (%) 2024-2034F
      11.3.2.3.3. Y-o-Y Growth (%) 2024-2034F
  11.3.3.By Application
    11.3.3.1.Emotion Recognition
      11.3.3.1.1. By Value (USD Million) 2024-2034F
      11.3.3.1.2.Market Share (%) 2024-2034F
      11.3.3.1.3.Y-o-Y Growth (%) 2024-2034F
    11.3.3.2. Attendance Tracking and Monitoring
      11.3.3.2.1.By Value (USD Million) 2024-2034F
      11.3.3.2.2. Market Share (%) 2024-2034F
      11.3.3.2.3. Y-o-Y Growth (%) 2024-2034F
    11.3.3.3. Access Control
      11.3.3.3.1.By Value (USD Million) 2024-2034F
      11.3.3.3.2. Market Share (%) 2024-2034F
      11.3.3.3.3. Y-o-Y Growth (%) 2024-2034F
    11.3.3.4. Security & Surveillance
      11.3.3.4.1.By Value (USD Million) 2024-2034F
      11.3.3.4.2. Market Share (%) 2024-2034F
      11.3.3.4.3. Y-o-Y Growth (%) 2024-2034F
    11.3.3.5. Others
      11.3.3.5.1.By Value (USD Million) 2024-2034F
      11.3.3.5.2. Market Share (%) 2024-2034F
      11.3.3.5.3. Y-o-Y Growth (%) 2024-2034F
  11.3.4.By End User
    11.3.4.1.IT & Telecommunication
      11.3.4.1.1. By Value (USD Million) 2024-2034F
      11.3.4.1.2.Market Share (%) 2024-2034F
      11.3.4.1.3.Y-o-Y Growth (%) 2024-2034F
    11.3.4.2. BFSI
      11.3.4.2.1.By Value (USD Million) 2024-2034F
      11.3.4.2.2. Market Share (%) 2024-2034F
      11.3.4.2.3. Y-o-Y Growth (%) 2024-2034F
    11.3.4.3. Retail
      11.3.4.3.1.By Value (USD Million) 2024-2034F
      11.3.4.3.2. Market Share (%) 2024-2034F
      11.3.4.3.3. Y-o-Y Growth (%) 2024-2034F
    11.3.4.4.Healthcare
      11.3.4.4.1.By Value (USD Million) 2024-2034F
      11.3.4.4.2. Market Share (%) 2024-2034F
      11.3.4.4.3. Y-o-Y Growth (%) 2024-2034F
    11.3.4.5. Automotive
      11.3.4.5.1.By Value (USD Million) 2024-2034F
      11.3.4.5.2. Market Share (%) 2024-2034F
      11.3.4.5.3. Y-o-Y Growth (%) 2024-2034F
    11.3.4.6. Government and Defense
      11.3.4.6.1.By Value (USD Million) 2024-2034F
      11.3.4.6.2. Market Share (%) 2024-2034F
      11.3.4.6.3. Y-o-Y Growth (%) 2024-2034F
    11.3.4.7. Others
      11.3.4.7.1.By Value (USD Million) 2024-2034F
      11.3.4.7.2. Market Share (%) 2024-2034F
      11.3.4.7.3. Y-o-Y Growth (%) 2024-2034F

12.NORTH AMERICA FACIAL RECOGNITION MARKET SIZE & FORECAST 2024A-2034F

12.1.Overview
12.2. Key Findings
12.3. Market Segmentation
  12.3.1.By Component
  12.3.2. By Technology
  12.3.3. By Application
  12.3.4. By End user
12.4. Country
  12.4.1. United States
  12.4.2. Canada

13.EUROPE FACIAL RECOGNITION MARKET SIZE & FORECAST 2024A-2034F

13.1.Overview
13.2. Key Findings
13.3. Market Segmentation
  13.3.1.By Component
  13.3.2. By Technology
  13.3.3. By Application
  13.3.4. By End user
13.4.Country
  13.4.1.Germany
  13.4.2. United Kingdom
  13.4.3. France
  13.4.4. Italy
  13.4.5. Spain
  13.4.6. Russia
  13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)

14.ASIA-PACIFIC FACIAL RECOGNITION MARKET SIZE & FORECAST 2024A-2034F

14.1. Overview
14.2. Key Findings
14.3.Market Segmentation
  14.3.1.By Component
  14.3.2. By Technology
  14.3.3. By Application
  14.3.4. By End user
14.4. Country
  14.4.1.India
  14.4.2. China
  14.4.3. South Korea
  14.4.4.Japan
  14.4.5.Rest of APAC

15.MIDDLE EAST AND AFRICA FACIAL RECOGNITION MARKET SIZE & FORECAST 2024A-2034F

15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
  15.3.1.By Component
  15.3.2. By Technology
  15.3.3. By Application
  15.3.4. By End user
15.4.Country
  15.4.1. Israel
  15.4.2. GCC
  15.4.3. North Africa
  15.4.4.South Africa
  15.4.5. Rest of Middle East and Africa

16. LATIN AMERICA FACIAL RECOGNITION MARKET SIZE & FORECAST 2024A-2034F

16.1.Overview
16.2. Key Findings
16.3. Market Segmentation
  16.3.1.By Component
  16.3.2. By Technology
  16.3.3. By Application
  16.3.4. By End user
16.4.Country
  16.4.1. Mexico
  16.4.2. Brazil
  16.4.3. Rest of Latin America

17. COMPETITIVE LANDSCAPE

17.1.Company market share, 2023
17.2. Key player overview
17.3. Key stakeholders

18. COMPANY PROFILES

18.1. Cognitec Systems GmbH
  18.1.1.Company Overview
  18.1.2.Financial Overview
  18.1.3.Key Product; Analysis
  18.1.4.Company Assessment
    18.1.4.1.Product Portfolio
    18.1.4.2.Key Clients
    18.1.4.3. Market Share
    18.1.4.4. Recent News & Development (Last 3 Yrs.)
    18.1.4.5. Executive Team
18.2. NEC Corporation
18.3. Amazon Rekognition
18.4. Aware, Inc.
18.5. Gemalto NV(Thales Group)
18.6. Ayonix Corporation
18.7. FaceFirst, Inc.
18.8. Safran SA
18.9. Animetrics, Inc.
18.10. Idemia (formerly Morpho)
18.11.Herta Security
18.12. Megvii (Face++)
18.13. Kairos AR, Inc.
18.14. Microsoft Corporation
18.15. FacePhi Biometrнa S.A.
18.16. Other Prominent Players

19. APPENDIX

20.CONSULTANT RECOMMENDATION



More Publications