Global Facial Recognition Market Size By Software, By End User, By Geographic Scope And Forecast
Facial Recognition Market Size and Forecast
Facial Recognition Market was valued at USD 3.04 Billion in 2019 and is projected to reach USD 9.95 Billion by 2027, growing at a CAGR of 15.87% from 2020 to 2027.
Global Facial Recognition Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
The facial recognition system is increasingly being used to facilitate or control access by governments and law enforcement agencies to identify and authenticate a person for better security and safety of valuable assets and therefore fuelling its demand in the market. The rising adoption of a multi-factor authentication system which includes fingerprints, retina scans, and facial recognition has boosted the facial recognition market. Also, the rising innovations in facial recognition systems for applications in various fields are expected to provide an upthrust to the market in the coming years. Furthermore, facial recognition is widely being employed for surveillance applications in the public sector. Facial recognition acts as a key tool to help detect and locate human faces in images and videos, therefore surging its demand in the market.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The Global Facial Recognition Market is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Global Facial Recognition Market Competitive Landscape
The Global Facial Recognition Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as NEC Corporation, Aware, Cognitec Systems, Gemalto, Thales, Idemia, Leidos, Daon Inc.
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