The global “Facial Recognition Industry” is expected to rise with an impressive CAGR and generate the highest revenue by 2026. Fortune Business Insights™ in its latest report published this information. The report is titled “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”. The report discusses research objectives, research scope, methodology, timeline and challenges during the entire forecast period.
The report evaluates the important characteristics of the market based on present industry scenarios, market demands and business strategies. Also, the research report separates the industry based on the Facial Recognition Market share, types, applications, growth factor, key players and regions.
“The global facial recognition market size stood at USD 4.35 billion in 2019 and is projected to reach USD 12.92 billion by 2027, exhibiting a CAGR of 14.8% during the forecast period”
- A comprehensive overview of the Facial Recognition Market
- Significant factors boosting, restricting, challenging and providing an opportunity to the market
- Key insights and major industry developments
- Significant players functioning in the Facial Recognition Market
- Major strategies adopted by players such as the launch of new products for better revenue generation, company collaborations, and others
- Other market trends
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreaks across industries to help you prepare for the future.
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List of Top Key Manufacturers for Facial Recognition Market:
- Herta Security
- Synectics plc
- Cognitec Systems
- Ayonix Face Technologies
“Increasing Adoption of Facial Recognition Tools by Governments to Drive the Market”
Facial recognition technology carries multiple advantages and is, therefore, becoming increasingly popular for observation and surveillance purposes, especially at the government level. The adoption rate of these tools is going up in various countries, which is expected to fuel the global facial recognition market revenue. For example, Japan is fully utilizing facial recognition for the 2020 Tokyo Olympics. The authorities will screen and register around 350,000 people through their face print, eschewing the need for identity cards that can be easily duplicated or forged. Singapore is also heavily investing in facial recognition. It’s Changi Airport uses facial recognition at its T4 terminal that facilities easy check-in, immigration, and boarding for passengers. The UAE is adopting Artificial Intelligence (AI) to regulate border entry into their country. At its Dubai Airport, a virtual aquarium has been fitted with 80 facial recognition cameras that allow authorities to thoroughly screen tourists and immigrants. The global facial recognition market stands to benefit as facial recognition technologies gain more popularity across the world.
Some of the Key Questions Answered in this Report:
- Detailed Overview of Facial Recognition Market will help deliver clients and businesses making strategies.
- Influencing factors that are thriving demand and latest trends running in the market.
- Facial Recognition Market forecast for global market split into segments like region, product, applications, end-user, technology, etc.
- What trends, challenges and barriers will impact the development and sizing of the Global Facial Recognition Market?
- SWOT Analysis of each defined key player along with its profile and Porter’s five forces analysis to complement the same.
- What is the Facial Recognition Market growth momentum or market carries during the forecast period?
- Which region may tap the highest market share in the coming era?
- Which application/end-user category or Product Type may seek incremental growth prospects?
- What focused approach and constraints are holding the Facial Recognition Market demand?
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Regional Analysis for Facial Recognition Market:
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia 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)
The Facial Recognition Market research report offers a complete assessment of the industry. The projections included in the report have been determined utilizing demonstrated research philosophies and presumptions.
We follow a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country-level is derived from the most credible published sources and through interviews with the right stakeholders.
The Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.
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Major Table of Contents for Facial Recognition Market Research Report:
- Executive Summary
- Market Dynamics
- Key Facial Recognition Market Insights
- Global Market Analysis, Insights and Forecast, 2015-2026
- North America Market Analysis, Insights and Forecast, 2015-2026
- Europe Market Analysis, Insights and Forecast, 2015-2026
- Asia Pacific Market Analysis, Insights and Forecast, 2015-2026
- The Middle East and Africa Market Analysis, Insights and Forecast, 2015-2026
- Latin America Market Analysis, Insights and Forecast, 2015-2026
- Competitive Landscape
- Global Facial Recognition Market Revenue Share Analysis, By Key Players, 2020
- Company Profiles
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