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Facial Recognition Market Size, Share and Global Trend By Component (Hardware, Software, Services), By Applications (Civil Applications and Law enforcement, Security applications for electronic transactions and access control, Ambient Intelligence, Wearable systems, Automotive, Entertainment), By Vertical (Banking, Financial Services, and Insurance, IT and Telecom, Government, Healthcare) and Geography Forecast till 2026

Region : Global | Report ID: FBI101061 | Status : Ongoing

 

KEY MARKET INSIGHTS

Face recognition has gained significant attention in recent years from scientists working in the fields of biometrics, pattern recognition, and computer vision. Face recognition is increasingly deployed in machine learning and computer graphics technologies. The common interest among researchers working in diverse fields is motivated by the fact that human activity is a primary concern in everyday life as well as in cyberspace.

The face is most frequently used to identify individuals using biometrics. Researchers have given considerable attention to face recognition due to suspicious human activities found in multiple applications of security such as airport, criminal detection, face tracking, forensic, etc. Face biometrics is non-intrusive compared to other biometric features such as palm printing, iris, fingerprinting, etc. Face biometrics can also be used for security-based applications such as criminal identification, face monitoring, airport security, and forensic surveillance systems, even without the understanding of the user.

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Also, increasing awareness of the advantages of facial recognition and the growing implementation of biometrics in the commercial sector is anticipated to boost the demand for facial recognition technology in the coming years. Government, transport, and army & defense are the biggest contributors to the worldwide facial recognition industry as these end-use industries embrace facial recognition to identify criminals in real-time and provide a secured atmosphere.


Customers ' growing reliance on websites and web applications leads to instances of identity and data theft. Also, these attacks ' growing complexity is driving end-users to introduce safe authentication alternatives. Due to the evolving generation of digitalization, and the absence of data security legislation, the amount of data breach instances has risen exponentially. Burgeoning cases of a data breach and brute force attacks have a primary need for advanced surveillance systems, which in turn has increased demand for facial recognition. The development in technology, lack of accuracy, and high deployment cost of facial recognition technology may hinder the global facial recognition growth.


Key Players Covered


Key Players in the global facial detection market include Gemalto, Anyvision, Synectics plc, Amazon web services, Cognitec Systems, IBM, Aware, IDEMIA, Ayonix Face Technologies, and Herta Security.


SEGMENTATION


























SEGMENTATION



 DETAILS



By Component



· Hardware


· Software


      - 2D Facial Recognition


      - 3D Facial Recognition


      - Facial Analytics Recognition


· Services


      - Training and Consulting Services


      - Cloud-based Facial Recognition Services



By Applications



· Civil Applications and Law enforcement


· Security applications for electronic transactions and access control


· Ambient Intelligence


· Wearable systems


· Automotive


· Entertainment



By Vertical



· Banking, Financial Services, and Insurance


· IT and Telecom


· Government


· Healthcare


· Education


· Travel and Hospitality


· Defense


· Retail and e-commerce


· others



By Geography



· North America (the USA and Canada)


· Europe (UK, Germany, France, Italy, Spain, and Rest of Europe)


· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)


· Latin America (Brazil, Mexico and Rest of Latin America)


· Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)



 


Regional Analysis


Based on geography, North America provides profitable market growth possibilities, showing huge demand for facial recognition technology for human data security and criminal investigation. The FBI operates the region's largest facial recognition surveillance system. The ID scheme of the FBI holds a database of facial recognition with pictures of millions of Americans. On average, the FBI performs monthly searches to identify people with facial identification systems. Due to technological advances, North America is anticipated to have the largest market share in the face recognition industry and also houses most of the region's top fortune 500 businesses and tech giants. The US contributes a significant proportion of the national market share of North America.


Europe has appeared as an intelligent solution for addressing current identification requirements along with identity claims verification. The German Ministry of the Interior security intends to install video surveillance systems of facial recognition throughout the airports of the country as well as train stations to identify the individuals that may pose safety hazards. Few key countries like UK, Germany, and France are contributing to the technological development and application of facial recognition market in Europe.


During the forecast period, Asia Pacific is anticipated to grow at a remarkable CAGR. Huge investments of the government sector in safety and surveillance infrastructure enhanced public consciousness, and the advent of complex analytics-backed techniques are some of the variables driving this region's market growth.


The Middle East and Africa are anticipated that the market of biometrics-as-a-service will increase in the Middle East and Africa over the forecasted period with a significant amount of investment by the key players.


Key Industry Developments



  • March 2019 - Gemalto, launched Video based facial recognition system, which enables the users to automatically recognize human faces in crowd or in uncontrolled environment and generate real time alert if suspicious activities are found.
  • May 2019 AnyVision, a AI design and development company partners with Synectics to offer facial recognition with intelligent security systems.

Facial Recognition Market Size, Share and Global Industry Trend Forecast till 2026
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