Maharashtra, India -- (SBWire) -- 03/12/2019 --2019-2024 Face Recognition Systems Market Report with Depth Analysis
The global Face Recognition Systems market size was 530 million US$ and it is expected to reach 1430 million US$ by the end of 2025, with a CAGR of 13.2% during 2019-2025.
The Face Recognition Systems market, a face recognition system is a computer application capable of identifying or verifying a person from a digital image or a video frame from a video source. One of the ways to do this is by comparing selected facial features from the image and a face database.
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Scope of the Report:
Currently, the market is primarily driven by robust technological advancements for development of efficient surveillance systems required by civil and government agencies. This is due to rising instances of criminal and terrorist activities and identification of fraud cases across the globe. Moreover, facial recognition systems that can scan images in all environmental conditions are being developed using 3D facial recognition technology. This would help overcome the barriers of 2D facial recognition technology that include light and pose deflections of the object. However, restrictions on users to share their personal details i.e. covert monitoring of an individual, is expected to hinder the market growth. Furthermore, increased adoption of facial recognition in web applications for picture tagging, social interaction, and others is expected to drive the demand for facial recognition in future.
The Key Manufacturers of Face Recognition Systems Market Covered In This Report:
NEC Corporation, Safran Group, Gemalto, Ayonix, Crossmatch Technologies, Aware Inc
Market segment by Type, the product can be split into
2D Face Recognition
3D Face Recognition
Thermal Face Recognition
Market segment by Application, split into
Emotion Recognition
Law Enforcement, Surveillance, and Monitoring
Others
Face Recognition Systems Market report also splits the market by region:
North America (United States, Canada, Mexico)
South America ( Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And More.
The global facial recognition market is analyzed on the basis of parameters such as type of technology, end-use industry and geographic regions. Of the different technology types, the 2D facial recognition technology segment contributed a significant revenue share ?about 59.67%? in the global market in 2016. This is due to the adoption and acceptance of 2D facial recognition technology in surveillance, which is primarily due to its low cost and easy installation using existing cameras
The market for 3D facial recognition technology, that offers better and accurate results, is expected to record steady growth as compared to 2D technology. Furthermore, the facial recognition market is witnessing development of facial analytics systems that help generate descriptive metadata about a given face, apart from simple identification. This has resulted in the use of facial recognition technique as both identification and authentication tools.
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In this study, the years considered to estimate the market size of Face Recognition Systems are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
Research objectives:
Focuses on the key global Face Recognition Systems manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
To analyze the Face Recognition Systems with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
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Key Points sheathed in the Face Recognition Systems Market Report Coverage:
– Market share assessments for the regional and country level segments
– Market share analysis of the top industry players
– Strategic recommendations for the new entrants
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financial and recent developments
– Supply chain trends mapping the latest technological advancements
Further, the Face Recognition Systems industry research report determines the Marketing Analysis, Regional Marketing Analysis, International Trade Analysis. The market Traders or Distributors with Contact Information by Region and Supply Chain Analysis. That is followed by various business strategies, the report contains essential outcome help could boost the interest level of the individuals in the market.
