Pune, India -- (SBWire) -- 12/17/2019 --Infinium Global Research has recently published a trending report on "Facial Recognition Market (Component - Hardware, and Software; Technology - 2D Facial Recognition, and 3D Facial Recognition; Application - Attendance Tracking and Monitoring, Law Enforcement, and Access Control): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025." The global facial recognition market is projected to grow at a CAGR of 17.61% over the forecast period of 2019-2025.
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According to the IGR research analysts, the growing demand for the surveillance systems for improving safety and security is the major driving factor for the growth of the global facial recognition market. Recent technological developments have led to a wide proliferation of face recognition technology. A variety of phones including the latest iPhone are now using face recognition to unlock phones. This technology is a powerful way to protect personal data and ensure that, if a phone is stolen, sensitive data remains inaccessible by the perpetrator. Face recognition can be used to find missing children and victims of human trafficking. As long as missing individuals are added to a database, law enforcement can become alerted as soon as they are recognized by face recognition—be it an airport, retail store or other public space.
3D Facial Recognition Software Tools to Hold the Largest Share During the Forecast Period
The report gives an in-depth analysis of the global facial recognition market, focuses on the market opportunities along with the trends driving the market. It provides the market segmentation by technology (2D facial recognition and 3D facial recognition), by application (attendance tracking and monitoring, law enforcement, and access control), and by region. Government bodies and enterprises have started adopting 3D facial recognition software due to its features such as identifying and verifying different facial expressions on an individual even in low light and completely dark areas.
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North America Region Holds a Dominant Share in the Global Facial Recognition Market
Geographically, North America region dominates by the largest market share in the facial recognition market due to strong fraud detection and prevention systems in major industry verticals as well as growing awareness for the document verification. An increasing number of people for the business travel which requires proper documentation and detection of fraud, theft, and terrorists for the safety of passenger boost the growth in the region. In North America, The U.S. dominates the market followed by Canada and Mexico.
Major Key Players in the Market
The key players profiled in the report are NEC Corporation, The 3M Company, Cognitec Systems GmbH, Aware, Inc., Daon, Inc., Gemalto N.V. (Thales Group), Animetrics, Inc., Nuance Communications, Inc., FaceFirst, Inc., and Other Companies. In December 2019, NEC acquired the largest Danish IT company, KMD.
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Report Highlights
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider.
The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the facial recognition market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of facial recognition.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
