Facial Recognition Market by Technology, End-user, Application, and Geography - Forecast and Analysis 2021-2025

  • Published: Aug 2021
  • Pages: 120
  • SKU: IRTNTR44231
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 Facial Recognition Market - 2021-2025

The projected valuation of the facial recognition market by 2025 is USD 3.78 billion. The growth momentum of the market is expected to accelerate at a CAGR of 12.40%, during 2021-2025. This research report elucidates the market drivers and trends that have been catalyzing the progress of existing market players. One of the key factors driving the facial recognition market growth is increasing instances of identity threats. View our sample report for insights on the latest drivers, trends, and challenges that will have a far-reaching effect on the market growth in the coming years.

Facial Recognition Market Size

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Facial Recognition Market Segments

Get actionable insights on the facial recognition market segments to generate successful ROIs and focus your business strategy efforts where they are most likely to be effective. Navigate through market segmentation by application (identification and verification), technology (3D facial recognition and 2D facial recognition), end-user (government sector, BFSI sector, transportation sector, and other sectors), and geography (North America, Europe, APAC, MEA, and South America), in this facial recognition market report to pursue growth opportunities. 

Furthermore, given the current pandemic situation and its significant effect on industries, it is essential to understand the vulnerable market segments and recovery scope. Our market research experts have evaluated the impact of COVID-19 across market segments for our clients to understand the long-term business implications and foresee opportunities to strengthen the market foothold. Want a thorough qualitative and quantitative analysis on the post-pandemic facial recognition market predictions on-demand changes for 2021-2025? You can buy the report now with one easy click.

Facial Recognition Market Vendors and Competitive Analysis

The facial recognition market size report discusses the current market structure in-depth and how it will shape up during the forecast period based on the entry and exit of market players. At present, the facial recognition market is fragmented and the vendors are deploying growth strategies such as focusing on R&D and innovation to gain a competitive advantage. Take a look at our sample report to get an idea of the well-thought-out business planning approaches of key players.

The unprecedented outbreak of COVID-19 last year impacted market segments that have had a ripple effect on various stakeholders. To make the most of the opportunities and recover from post COVID-19 impact, the market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Click here to get COVID-19 impact update.

For detailed insights on complete key vendor profiles buy the full facial recognition market forecast report. The profiles include particulars on the production, sustainability, prospects of the leading companies, and other crucial vendor landscape analysis.

Facial Recognition Market Vendors

Facial Recognition Market - Region Opportunities 2021-2025

33% of the facial recognition market growth will originate from North America during the forecast period. The US is the key market for facial recognition in North America. To unlock exclusive information on potential business locations and understand the demographics of current and prospective customers buy the report now!

Facial Recognition Market Share by Geography

North America has been exhibiting a significant growth rate for facial recognition market vendors. Factors such as the implementation of facial recognition for border security by detecting passport identity fraud are accelerating the facial recognition market growth in North America. To view our in-depth analytical review on the micro and macroeconomic factors impacting businesses in the regions click here.

However, the facial recognition market share growth in North America will be slower than the growth of the market in APAC. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

Facial Recognition Market Insights by Application

Facial Recognition Market Share by Application

To gain further insights on the market contribution of various segments Request for a FREE Sample!

The facial recognition market share growth by the identification segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the facial recognition market size.

From the facial recognition market segmentation insights, players can identify the demand pattern of target customers and make effective business plans to capture untapped segments. In addition, the analytical data on the segmentation will enable effective product and service positioning among the right end-users, which will facilitate significant exposure and growth for the vendors. Get updated actionable market insights on post COVID-19 impact on each segment.

Facial Recognition Market Drivers & Trends

Even if the success rate of a business is higher, every factor, including challenges, influencing any market growth needs to be considered to mitigate potential risks at an earlier development stage. One of the key factors impeding the facial recognition market growth is the high cost of deployment. Purchase our express report to get exhaustive insights on the key industry trends, drivers, and challenges, which will help companies evaluate and build growth strategies.

The increasing dependence of end-users on websites and web applications is giving rise to an increasing number of identity and data theft cases. The growing popularity of online gaming and social network websites is also adding to the rising number of identity theft cases. In addition, the increasing complexity of these attacks is driving end-users to implement secure authentication solutions. Thus, there is increased adoption of biometric security solutions. Biometric solutions are one of the most secure authentication solutions because of their capability to incorporate the physical and behavioral features of the end-users, which are difficult to forge. Hence, it is among the strongest growing authentication solutions currently.

Technavio research analysts have done an in-depth analysis of the facial recognition market trends, drivers, and challenges in terms of their long-term and short-term effects. This data will help players map their growth prospects across key and emerging markets.

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Facial Recognition Market Report Outlook

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive facial recognition market growth during the next five years
  • Precise estimation of the facial recognition market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the facial recognition market across North America, Europe, APAC, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of facial recognition market vendors

Buy the Facial Recognition Market report now to reimage your business strategies!

 

Facial Recognition Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 12%

Market growth 2021-2025

$ 3.78 billion

Market structure

Fragmented

YoY growth (%)

7.89

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

North America at 33%

Key consumer countries

US, China, UK, Germany, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ASSA ABLOY AB, Aware Inc., Cognitec Systems GmbH, Fulcrum Biometrics Inc., IDEMIA, NEC Corp., Precise Biometrics AB, Safran SA, Synaptics Inc., and Thales Group

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Application

    • Market segments
    • Comparison by Application
    • Identification - Market size and forecast 2020-2025
    • Verification - Market size and forecast 2020-2025
    • Market opportunity by Application

    Market Segmentation by Technology

    • Market segments
    • Comparison by Technology
    • 3D facial recognition - Market size and forecast 2020-2025
    • 2D facial recognition - Market size and forecast 2020-2025
    • Market opportunity by Technology

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Government sector - Market size and forecast 2020-2025
    • BFSI sector - Market size and forecast 2020-2025
    • Transportation sector - Market size and forecast 2020-2025
    • Other sectors - Market size and forecast 2020-2025
    • Market opportunity by End-user

    Customer landscape

    • Customer landscape

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • North America - Market size and forecast 2020-2025
    • Europe - Market size and forecast 2020-2025
    • APAC - Market size and forecast 2020-2025
    • MEA - Market size and forecast 2020-2025
    • South America - Market size and forecast 2020-2025
    • Key leading countries
    • Market opportunity by geography
    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Overview
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • ASSA ABLOY AB
    • Aware Inc.
    • Cognitec Systems GmbH
    • Fulcrum Biometrics Inc.
    • IDEMIA
    • NEC Corp.
    • Precise Biometrics AB
    • Safran SA
    • Synaptics Inc.
    • Thales Group

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
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    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
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    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
    Interested in this report?
    Get your FREE sample now!
    The facial recognition market growth will increase by $3350.83 million during 2019-2024.
    The facial recognition market is expected to grow at a CAGR of 11.63% during 2019-2024.
    Technavio has segmented the facial recognition market by technology (3D facial recognition and 2D facial recognition) ,end user (Government sector, BFSI sector, Transportation sector, and Other sectors) , and application (Identification and Verification).
    ASSA ABLOY AB, Aware Inc., Cognitec Systems GmbH, Egis Technology Inc., IDEMIA France SAS, NEC Corp., Precise Biometrics AB, Safran SA, Synaptics Inc., Thales Group are a few of the key vendors in the facial recognition market.
    APAC will register the highest growth rate of 28.80% among the other regions. Therefore, the facial recognition market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the facial recognition market growth are:
    • Increasing instances of identity threats
    The facial recognition market vendors should focus on grabbing business opportunities from the 3d facial recognition segment as it accounted for the largest market share in the base year.
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