Facial Recognition Market Overview
The
market for Facial Recognition Market is forecast to reach $47.28 billion by 2026,
growing at a CAGR of 7.9% from 2021 to 2026. The Facial Recognition Market is
estimated to witness substantial growth over the forecast period primarily due to high
adoption of facial recognition technology in various applications and
increasing investment in facial recognition technologies by government and
defense sector. Facial recognition technology is a type of thermal recognition biometric technology that is used for Identity verification services using their face. This technology
leverages a connected or digital camera to
detect faces in the captured images and then quantify the features of the image
to match against the templates stored in the database. Facial recognition for human computer interaction is
applied in different industries such as media and entertainment, automobile and
transportation, and public bodies such as law enforcement agencies.
Report Coverage
The report: “Facial Recognition Market– Forecast (2021-2026)”, by IndustryARC
covers an in-depth analysis of the following segments of the Facial Recognition
Market.
By Technology
– 2D, 3D and Facial Analytics
By
Application – Emotion
Recognition, Attendance Tracking and Monitoring, Access Control, Security and
Surveillance and Others.
By End-User –
Retail and E-commerce, Media and
Entertainment, BFSI, Automobile and Transportation, Telecom & IT,
Government, Healthcare and Others.
By
Geography - North America (U.S,
Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands
and Others), APAC(China, Japan India, SK, Australia, Indonesia and Others), South America(Brazil, Argentina, Chile, Colombia and
others), and RoW (Middle East and Africa).
Key Takeaways
- Facial Recognition Market is estimated to witness substantial growth over the forecast period primarily due to increasing investments by governments and public bodies and rising usage in different applications.
- Technological advancements in payments and transactions have enhanced security protection thereby increasing demand for the market.
- Facial recognition payment is being implemented in different applications such as E-commerce, ATMs which increasing its demand.
- Asia-pacific is projected to hold the largest share of Facial Recognition Market during the forecast period due to growing number of investments in security and surveillance as high criminal activities is taking place which creates increased public awareness.
Facial Recognition Market, By region
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Facial Recognition Market Segment Analysis – By Technology
The market segment by technology type is classified into 2D,
3D and facial analytics. 3D segment is the leading segment with the highest
revenue. 3D technology facial recognition systems encourage the deployment of
these systems for public safety solutions, such as border protection and
surveillance. 3D
recognition systems are preferred over 2D systems in high-security spaces such
as airports. 3D face recognition systems could accurately recognize human faces
even under dim lights and with variant facial positions and expressions, in
such conditions 2D face recognition systems would have immense difficulty to
operate. 3D sensors reveal a new path for face recognition that could
overcome the fundamental limitations of 2D technologies.
Facial Recognition Market Segment Analysis – By Application
The market
segment by core type into emotion recognition, attendance tracking and
monitoring, access control, security and surveillance and others. The access
control segment is the leading segment of all the segments in terms of revenue.
Access control is a security technique that regulates who or what can view or
use resources in a computing environment. Access control systems perform
identification authentication and authorization of
users and entities by evaluating required login credentials that can include
passwords, personal identification numbers (PINs), biometric scans,
security tokens or other authentication factors.
Security and surveillance have its implementation in high-security areas as
law enforcement agencies use security and surveillance to find and identify
people or to uncover criminal faces.
Facial Recognition Market Segment Analysis – By Geography
Global Application Processor by Geography has been segmented
into North America, Europe, APAC, South-America and RoW. APAC is projected to
hold the largest share of 45% in the forecast period due to the growing number of
investments in security and surveillance, due to high criminal activities,
leads to increased public awareness. Owing to these factors, the market in
witnessing growth opportunities in the region. This varied application of
facial recognition technology across various countries is driving the facial
recognition market in APAC.
Facial Recognition Market Drivers
Increasing investments in facial recognition technologies by government driving the market growth
Governments across the several countries are heavily investing
significant amount of resources in order to adopt the advanced facial
recognition technology as it provides high security and surveillance to prevent
violent crimes, terrorist threats and human trafficking. United States and
China are the leading adopters of facial recognition technology and China is
the top exporter of facial recognition tools. Chinese government has invested
hugely as Chinese government prioritizes public security, promotes the
development of artificial intelligence and works to prevent the spread of
covid-19. Leading facial recognition and surveillance companies including
Hikivison, Dahua, iFlyTek, SenseTime, and most recently Jiadu Technology have
been tapped to advance AI technologies with applications advancing facial
recognition and surveillance as part of China’s “National AI Team”. This
brings demand for facial recognition market.
Covid-19 accelerating the shift to cashless payments
The coronavirus pandemic is accelerating the trend toward a cashless economy as people limit their contact with one another. Cashless transactions help to curb corruption and flow of black money which consequently growing the nation’s economy. In 2020 China’s WeChat Pay introduced its “Frog Pro” device, which has a 3D depth-sensing camera that can scan customer’s faces to make payments. Such innovations and technologies from companies helps facial recognition market.
Facial Recognition Market Challenges
Lack of knowledge and awareness in technology posing the challenge
Facial
recognition is the high-end technology which is been highly adopted in
developed countries in different sectors. The technical challenges faced in the
process needs immediate attention in facial imaging approach which is posing a
challenge as not many people are aware of technical issues. On the other hand, many organisations in the developing countries lack artificial intelligence
skills and understanding the algorithms for governing a facial recognition
system. An organization should have skilled workforce in order to deal with
certain challenges as it is lacking in most part of world it has become a
biggest challenge for the market growth.
Facial Recognition Market Landscape
Product launches,
acquisitions, and R&D activities are key strategies adopted by players in
the Facial Recognition Market. The Facial Recognition Market is dominated by
major companies such Aware Inc., Face Phi., NEC Corporation, IDIMIA, TECH5 SA,
Onfido, Ayonix Corporation, Gelmalto NV, Cognitec Systems GmbH, Fujotsu
Acquisitions/Technology Launches/Partnerships
- In April 2020, Microsoft Azure updated its facial recognition solution. The new version has a simplified User Interface (UI) and addresses customer feedback easily. It also helps devices to get faster and updated data, which can be sent quickly with improved IoT Central application workflow.
- In Jan 2021, Intel RealSense ID has launched as a facial recognition system that lets users unlock things with a glance. Intel RealSense ID combines an active depth sensor with a specialised neural network which is deliver secure, accurate and user-aware facial authentication.
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LIST OF TABLES
1.Global Facial Recognition Market Analysis By Component Market 2019-2024 ($M)1.1 Software Tools Market 2019-2024 ($M) - Global Industry Research
1.1.1 3D Facial Recognition Market 2019-2024 ($M)
1.1.2 Thermal Face Recognition Market 2019-2024 ($M)
1.2 Services Market 2019-2024 ($M) - Global Industry Research
1.2.1 Training & Consulting Services Market 2019-2024 ($M)
1.2.2 Cloud-Based Facial Recognition Services Market 2019-2024 ($M)
1.2.3 Facial Recognition Software & Sdk Market 2019-2024 ($M)
1.2.4 Middleware Market 2019-2024 ($M)
1.2.5 Databases Market 2019-2024 ($M)
1.2.6 Modeling & Restructuring Market 2019-2024 ($M)
1.2.7 Analytics Solution Market 2019-2024 ($M)
2.Global Market Analysis By Technology Market 2019-2024 ($M)
3.Global Facial Recognition Market Analysis By Use Case Market 2019-2024 ($M)
3.1 Emotion Recognition Market 2019-2024 ($M) - Global Industry Research
3.2 Attendance Tracking & Monitoring Market 2019-2024 ($M) - Global Industry Research
3.3 Access Control Market 2019-2024 ($M) - Global Industry Research
3.4 Law Enforcement Market 2019-2024 ($M) - Global Industry Research
4.Global Market Analysis By End-User Market 2019-2024 ($M)
4.1 Government Market 2019-2024 ($M) - Global Industry Research
4.1.1 Homeland Security Market 2019-2024 ($M)
4.1.2 Military Market 2019-2024 ($M)
4.2 Enterprises Market 2019-2024 ($M) - Global Industry Research
4.2.1 Healthcare Market 2019-2024 ($M)
4.2.2 Retail Market 2019-2024 ($M)
5.Global Facial Recognition Market Analysis By Component Market 2019-2024 (Volume/Units)
5.1 Software Tools Market 2019-2024 (Volume/Units) - Global Industry Research
5.1.1 3D Facial Recognition Market 2019-2024 (Volume/Units)
5.1.2 Thermal Face Recognition Market 2019-2024 (Volume/Units)
5.2 Services Market 2019-2024 (Volume/Units) - Global Industry Research
5.2.1 Training & Consulting Services Market 2019-2024 (Volume/Units)
5.2.2 Cloud-Based Facial Recognition Services Market 2019-2024 (Volume/Units)
5.2.3 Facial Recognition Software & Sdk Market 2019-2024 (Volume/Units)
5.2.4 Middleware Market 2019-2024 (Volume/Units)
5.2.5 Databases Market 2019-2024 (Volume/Units)
5.2.6 Modeling & Restructuring Market 2019-2024 (Volume/Units)
5.2.7 Analytics Solution Market 2019-2024 (Volume/Units)
6.Global Market Analysis By Technology Market 2019-2024 (Volume/Units)
7.Global Facial Recognition Market Analysis By Use Case Market 2019-2024 (Volume/Units)
7.1 Emotion Recognition Market 2019-2024 (Volume/Units) - Global Industry Research
7.2 Attendance Tracking & Monitoring Market 2019-2024 (Volume/Units) - Global Industry Research
7.3 Access Control Market 2019-2024 (Volume/Units) - Global Industry Research
7.4 Law Enforcement Market 2019-2024 (Volume/Units) - Global Industry Research
8.Global Market Analysis By End-User Market 2019-2024 (Volume/Units)
8.1 Government Market 2019-2024 (Volume/Units) - Global Industry Research
8.1.1 Homeland Security Market 2019-2024 (Volume/Units)
8.1.2 Military Market 2019-2024 (Volume/Units)
8.2 Enterprises Market 2019-2024 (Volume/Units) - Global Industry Research
8.2.1 Healthcare Market 2019-2024 (Volume/Units)
8.2.2 Retail Market 2019-2024 (Volume/Units)
9.North America Facial Recognition Market Analysis By Component Market 2019-2024 ($M)
9.1 Software Tools Market 2019-2024 ($M) - Regional Industry Research
9.1.1 3D Facial Recognition Market 2019-2024 ($M)
9.1.2 Thermal Face Recognition Market 2019-2024 ($M)
9.2 Services Market 2019-2024 ($M) - Regional Industry Research
9.2.1 Training & Consulting Services Market 2019-2024 ($M)
9.2.2 Cloud-Based Facial Recognition Services Market 2019-2024 ($M)
9.2.3 Facial Recognition Software & Sdk Market 2019-2024 ($M)
9.2.4 Middleware Market 2019-2024 ($M)
9.2.5 Databases Market 2019-2024 ($M)
9.2.6 Modeling & Restructuring Market 2019-2024 ($M)
9.2.7 Analytics Solution Market 2019-2024 ($M)
10.North America Market Analysis By Technology Market 2019-2024 ($M)
11.North America Facial Recognition Market Analysis By Use Case Market 2019-2024 ($M)
11.1 Emotion Recognition Market 2019-2024 ($M) - Regional Industry Research
11.2 Attendance Tracking & Monitoring Market 2019-2024 ($M) - Regional Industry Research
11.3 Access Control Market 2019-2024 ($M) - Regional Industry Research
11.4 Law Enforcement Market 2019-2024 ($M) - Regional Industry Research
12.North America Market Analysis By End-User Market 2019-2024 ($M)
12.1 Government Market 2019-2024 ($M) - Regional Industry Research
12.1.1 Homeland Security Market 2019-2024 ($M)
12.1.2 Military Market 2019-2024 ($M)
12.2 Enterprises Market 2019-2024 ($M) - Regional Industry Research
12.2.1 Healthcare Market 2019-2024 ($M)
12.2.2 Retail Market 2019-2024 ($M)
13.South America Facial Recognition Market Analysis By Component Market 2019-2024 ($M)
13.1 Software Tools Market 2019-2024 ($M) - Regional Industry Research
13.1.1 3D Facial Recognition Market 2019-2024 ($M)
13.1.2 Thermal Face Recognition Market 2019-2024 ($M)
13.2 Services Market 2019-2024 ($M) - Regional Industry Research
13.2.1 Training & Consulting Services Market 2019-2024 ($M)
13.2.2 Cloud-Based Facial Recognition Services Market 2019-2024 ($M)
13.2.3 Facial Recognition Software & Sdk Market 2019-2024 ($M)
13.2.4 Middleware Market 2019-2024 ($M)
13.2.5 Databases Market 2019-2024 ($M)
13.2.6 Modeling & Restructuring Market 2019-2024 ($M)
13.2.7 Analytics Solution Market 2019-2024 ($M)
14.South America Market Analysis By Technology Market 2019-2024 ($M)
15.South America Facial Recognition Market Analysis By Use Case Market 2019-2024 ($M)
15.1 Emotion Recognition Market 2019-2024 ($M) - Regional Industry Research
15.2 Attendance Tracking & Monitoring Market 2019-2024 ($M) - Regional Industry Research
15.3 Access Control Market 2019-2024 ($M) - Regional Industry Research
15.4 Law Enforcement Market 2019-2024 ($M) - Regional Industry Research
16.South America Market Analysis By End-User Market 2019-2024 ($M)
16.1 Government Market 2019-2024 ($M) - Regional Industry Research
16.1.1 Homeland Security Market 2019-2024 ($M)
16.1.2 Military Market 2019-2024 ($M)
16.2 Enterprises Market 2019-2024 ($M) - Regional Industry Research
16.2.1 Healthcare Market 2019-2024 ($M)
16.2.2 Retail Market 2019-2024 ($M)
17.Europe Facial Recognition Market Analysis By Component Market 2019-2024 ($M)
17.1 Software Tools Market 2019-2024 ($M) - Regional Industry Research
17.1.1 3D Facial Recognition Market 2019-2024 ($M)
17.1.2 Thermal Face Recognition Market 2019-2024 ($M)
17.2 Services Market 2019-2024 ($M) - Regional Industry Research
17.2.1 Training & Consulting Services Market 2019-2024 ($M)
17.2.2 Cloud-Based Facial Recognition Services Market 2019-2024 ($M)
17.2.3 Facial Recognition Software & Sdk Market 2019-2024 ($M)
17.2.4 Middleware Market 2019-2024 ($M)
17.2.5 Databases Market 2019-2024 ($M)
17.2.6 Modeling & Restructuring Market 2019-2024 ($M)
17.2.7 Analytics Solution Market 2019-2024 ($M)
18.Europe Market Analysis By Technology Market 2019-2024 ($M)
19.Europe Facial Recognition Market Analysis By Use Case Market 2019-2024 ($M)
19.1 Emotion Recognition Market 2019-2024 ($M) - Regional Industry Research
19.2 Attendance Tracking & Monitoring Market 2019-2024 ($M) - Regional Industry Research
19.3 Access Control Market 2019-2024 ($M) - Regional Industry Research
19.4 Law Enforcement Market 2019-2024 ($M) - Regional Industry Research
20.Europe Market Analysis By End-User Market 2019-2024 ($M)
20.1 Government Market 2019-2024 ($M) - Regional Industry Research
20.1.1 Homeland Security Market 2019-2024 ($M)
20.1.2 Military Market 2019-2024 ($M)
20.2 Enterprises Market 2019-2024 ($M) - Regional Industry Research
20.2.1 Healthcare Market 2019-2024 ($M)
20.2.2 Retail Market 2019-2024 ($M)
21.APAC Facial Recognition Market Analysis By Component Market 2019-2024 ($M)
21.1 Software Tools Market 2019-2024 ($M) - Regional Industry Research
21.1.1 3D Facial Recognition Market 2019-2024 ($M)
21.1.2 Thermal Face Recognition Market 2019-2024 ($M)
21.2 Services Market 2019-2024 ($M) - Regional Industry Research
21.2.1 Training & Consulting Services Market 2019-2024 ($M)
21.2.2 Cloud-Based Facial Recognition Services Market 2019-2024 ($M)
21.2.3 Facial Recognition Software & Sdk Market 2019-2024 ($M)
21.2.4 Middleware Market 2019-2024 ($M)
21.2.5 Databases Market 2019-2024 ($M)
21.2.6 Modeling & Restructuring Market 2019-2024 ($M)
21.2.7 Analytics Solution Market 2019-2024 ($M)
22.APAC Market Analysis By Technology Market 2019-2024 ($M)
23.APAC Facial Recognition Market Analysis By Use Case Market 2019-2024 ($M)
23.1 Emotion Recognition Market 2019-2024 ($M) - Regional Industry Research
23.2 Attendance Tracking & Monitoring Market 2019-2024 ($M) - Regional Industry Research
23.3 Access Control Market 2019-2024 ($M) - Regional Industry Research
23.4 Law Enforcement Market 2019-2024 ($M) - Regional Industry Research
24.APAC Market Analysis By End-User Market 2019-2024 ($M)
24.1 Government Market 2019-2024 ($M) - Regional Industry Research
24.1.1 Homeland Security Market 2019-2024 ($M)
24.1.2 Military Market 2019-2024 ($M)
24.2 Enterprises Market 2019-2024 ($M) - Regional Industry Research
24.2.1 Healthcare Market 2019-2024 ($M)
24.2.2 Retail Market 2019-2024 ($M)
25.MENA Facial Recognition Market Analysis By Component Market 2019-2024 ($M)
25.1 Software Tools Market 2019-2024 ($M) - Regional Industry Research
25.1.1 3D Facial Recognition Market 2019-2024 ($M)
25.1.2 Thermal Face Recognition Market 2019-2024 ($M)
25.2 Services Market 2019-2024 ($M) - Regional Industry Research
25.2.1 Training & Consulting Services Market 2019-2024 ($M)
25.2.2 Cloud-Based Facial Recognition Services Market 2019-2024 ($M)
25.2.3 Facial Recognition Software & Sdk Market 2019-2024 ($M)
25.2.4 Middleware Market 2019-2024 ($M)
25.2.5 Databases Market 2019-2024 ($M)
25.2.6 Modeling & Restructuring Market 2019-2024 ($M)
25.2.7 Analytics Solution Market 2019-2024 ($M)
26.MENA Market Analysis By Technology Market 2019-2024 ($M)
27.MENA Facial Recognition Market Analysis By Use Case Market 2019-2024 ($M)
27.1 Emotion Recognition Market 2019-2024 ($M) - Regional Industry Research
27.2 Attendance Tracking & Monitoring Market 2019-2024 ($M) - Regional Industry Research
27.3 Access Control Market 2019-2024 ($M) - Regional Industry Research
27.4 Law Enforcement Market 2019-2024 ($M) - Regional Industry Research
28.MENA Market Analysis By End-User Market 2019-2024 ($M)
28.1 Government Market 2019-2024 ($M) - Regional Industry Research
28.1.1 Homeland Security Market 2019-2024 ($M)
28.1.2 Military Market 2019-2024 ($M)
28.2 Enterprises Market 2019-2024 ($M) - Regional Industry Research
28.2.1 Healthcare Market 2019-2024 ($M)
28.2.2 Retail Market 2019-2024 ($M)
LIST OF FIGURES
1.US Facial Recognition Market Revenue, 2019-2024 ($M)2.Canada Facial Recognition Market Revenue, 2019-2024 ($M)
3.Mexico Facial Recognition Market Revenue, 2019-2024 ($M)
4.Brazil Facial Recognition Market Revenue, 2019-2024 ($M)
5.Argentina Facial Recognition Market Revenue, 2019-2024 ($M)
6.Peru Facial Recognition Market Revenue, 2019-2024 ($M)
7.Colombia Facial Recognition Market Revenue, 2019-2024 ($M)
8.Chile Facial Recognition Market Revenue, 2019-2024 ($M)
9.Rest of South America Facial Recognition Market Revenue, 2019-2024 ($M)
10.UK Facial Recognition Market Revenue, 2019-2024 ($M)
11.Germany Facial Recognition Market Revenue, 2019-2024 ($M)
12.France Facial Recognition Market Revenue, 2019-2024 ($M)
13.Italy Facial Recognition Market Revenue, 2019-2024 ($M)
14.Spain Facial Recognition Market Revenue, 2019-2024 ($M)
15.Rest of Europe Facial Recognition Market Revenue, 2019-2024 ($M)
16.China Facial Recognition Market Revenue, 2019-2024 ($M)
17.India Facial Recognition Market Revenue, 2019-2024 ($M)
18.Japan Facial Recognition Market Revenue, 2019-2024 ($M)
19.South Korea Facial Recognition Market Revenue, 2019-2024 ($M)
20.South Africa Facial Recognition Market Revenue, 2019-2024 ($M)
21.North America Facial Recognition By Application
22.South America Facial Recognition By Application
23.Europe Facial Recognition By Application
24.APAC Facial Recognition By Application
25.MENA Facial Recognition By Application
26.Aware, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.NEC, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Ayonix, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Cognitec Systems, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Keylemon, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Nviso, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Herta Security, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Techno Brain, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Neurotechnology, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Daon, Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.Animetrics, Sales /Revenue, 2015-2018 ($Mn/$Bn)
37.3M Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
38.Idemia, Sales /Revenue, 2015-2018 ($Mn/$Bn)
39.Gemalto, Sales /Revenue, 2015-2018 ($Mn/$Bn)