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The Facial Recognition Market is segmented by Technology (2D facial Recognition, 3D Facial Recognition, Facial Analytics), End User (Security and Law Enforcement, Healthcare, Retail), and Region.
Fastest Growing Market:
The facial recognition market was valued at USD 5.07 billion in 2019 and is expected to reach a value of USD 10.19 billion by 2025, at a CAGR of 12.5%, for the forecast period (2020-2025). Facial recognition has been gaining prominence in recent times, owing to the benefits it offers over traditional surveillance techniques, like biometrics. Governments across the world have been investing significant resources in facial recognition technology, among which, the United States and China are leading adopters.
Facial recognition is defined as a method of recognizing a human face through hardware like video cameras. The scope of this study is limited to standalone facial recognition solutions and services offered by various vendors like NEC. The hardware components involved for facial recognition services like video cameras, sensors, etc. are not considered for arriving at the revenue estimates during the forecast period.
|3D Facial Recognition|
|2D Facial Recognition|
|Security and Law Enforcement|
|Rest of the World|
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Caxia Bank introduced the first of its kind face recognition for withdrawal of money from the ATM. This was done by Caxia in partnership with Fijitsu and Facephi in 2019.
In July 2018, Cognitec Systems, the face recognition company, launched an extensive research and development efforts to greatly advance the accuracy and speed of its face matching algorithm. The high-performance algorithm has been integrated into Cognitec’s FaceVACS engine and is now available in new releases of all market-focused Cognitec products.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Technology Snapshot
4.3 Value Chain / Supply Chain Analysis
4.4 Industry Attractiveness - Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
4.5 Introduction to Market Drivers and Restraints
4.6 Market Drivers
4.6.1 Increasing Demand for Surveillance Systems to Enhance Safety and Security
4.6.2 Increasing Adoption of Facial Recognition in Consumer Electronics
4.7 Market Restraints
4.7.1 Privacy Concerns
5. MARKET SEGMENTATION
5.1.1 3D Facial Recognition
5.1.2 2D Facial Recognition
5.1.3 Facial Analytics
5.2 End User
5.2.1 Security and Law Enforcement
5.3.1 North America
5.3.4 Rest of the World
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Panasonic Corporation
6.1.2 Thales Group (Gemalto NV)
6.1.3 NEC Corporation
6.1.4 Cognitec Systems GmH
6.1.5 Aware Inc.
6.1.6 FacePhi Biometric SA
6.1.7 Animetrics Inc.
6.1.8 Ayonix Corporation
6.1.9 Face First Inc.
6.1.10 Idemia France SAS
6.1.11 Daon Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability