Facial Recognition Market to Record CAGR of 15.5% Over 2025-2032; Rising Cases of Identity Theft to Fuel Market Growth

The facial recognition market size was valued at USD 7.73 billion in 2024 and is predicted to reach USD 8.83 billion in 2025. The market is anticipated to touch USD 24.28 billion by 2032, recording a CAGR of 15.5% over 2025-2032.

Fortune Business Insights™ presents this information in its latest report titled “Facial Recognition Market Size, Share & Industry Analysis, By Technology (2D Facial Recognition, 3D Facial Recognition, Thermal Face Recognition, Skin Texture Analysis, and Others), By Component (Solutions and Services), By Application (Face Identification, Access Control, Security & Surveillance, and Others), By Industry (BFSI, Healthcare, Government & Defense, IT and Telecom, Retail, Manufacturing, and Others), and Regional Forecast, 2025 – 2032”.

Facial recognition is a system that uses advanced algorithms and technologies, such as Artificial Intelligence (AI) and Machine Learning (ML) to identify and authenticate a person’s facial characteristics to prevent identity thefts and online frauds. The popularity of this technology is growing in various industries as they are becoming more aware of its benefits, such as higher efficiency and accuracy. Several key market players are introducing newer and improved versions of facial recognition systems to cater to unique and ever-evolving needs of their clients.

Generative AI to be Widely Used in Facial Recognition Technology for Advanced Verification Purposes

Generative AI is being increasingly used in facial recognition systems for applications, such as advanced face recognition and restoration. The face verification feature allows users to assess if two faces belong to the same person or not, whereas, the face restoration feature repairs and improves damaged or degraded faces, such as blurry and distorted faces. These features play a key role in helping users accurately verify the identity of a person. This is one of the major factors behind the increasing use of generative AI in face recognition technologies.

Aware Inc. Introduced AwareID in WordPress Marketplace for Secure Biometric Authentication

Aware Inc. announced the launch of AwareID, its cloud-based verification platform, in the WordPress Marketplace. Users of WordPress can now seamlessly incorporate Aware’s plug-in to enable faster, more secure, and affordable cloud-based biometric verification.

Rising Cases of Identity Theft to Fuel Market Growth

The incidence of identity theft is rising at a swift pace across the globe as most transactions and interactions take place on online platforms, and major chunk of their personal information is stored on these platforms. This factor has prompted organizations to integrate facial recognition technologies into the security systems of their products. Moreover, the growing preference for biometric systems due to the weak security of conventional authentication technologies, such as PINs and passwords will also boost the adoption of this technology.

However, the high cost of developing this technology can hinder its adoption.

Key Market Players to Develop Innovative Facial Recognition Systems to Remain Competitive

Some of the top companies driving the global facial recognition market growth are focusing on developing and launching cutting-edge facial recognition technologies and solutions to help them fulfill their customers’ security needs.

Notable Industry Development:

• July 2023: Fujitsu started joint trials with Misawa Homes for secure and personalized living spaces by utilizing the continuous authentication technology. Fujitsu’s verification technology will make use of a facial recognition sensor to identify visitors and residents with the help of cues, such as their posture or clothing.

List of the Companies Profiled in the Report:

• Glory Ltd. (Japan)
• Aware, Inc. (U.S.)
• Cognitec Systems GmbH (Germany)
• Ayonix Corporation (Japan)
• FaceFirst, Inc. (U.S.)
• Facephi (Spain)
• NEC Corporation (Japan)
• Thales SA (France)
• Fujitsu (Japan)
• 3M Company (U.S.)
• ClearView AI (U.S.)
• Face++ (China)
• Idemia (France)
• Deep Vision (U.S.)
• Zebra Medical Vision (Israel)
• Kairos (U.S.)
• Tobii Technology (U.S.)
• Hikvision (China)
• Verint Systems (U.S.)
• XimantiX (Germany)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/facial-recognition-market-101061

Further Report Findings

• North America dominated the global facial recognition market share in 2024 as the region is one of the earliest adopters of advanced technologies, such as AI and machine learning. Moreover, there is an increasing need for better security measures in public and private spaces, which will further boost the adoption of facial recognition technologies.
• Europe will also showcase commendable growth in the market as several law enforcement authorities across the region are using this technology to for criminal investigations.
• Based on application, the access control segment dominated the market in 2024 as the use of this technology can help users protect sensitive facilities, such as military sites and data centers by ensuring that only the authorized person can gain access to them.

Table of Segmentation