Facial Recognition Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Facial Recognition Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032



Growth Factors of Facial Recognition Market

The facial recognition market size was valued at USD 4.35 billion in 2019, and the market is now projected to grow USD 12.92 billion in 2027, exhibiting a CAGR of 14.8% during the forecast period of 2020-2032.

Increase in work from home situation due to COVID 19 has led to change influencing sectors like government and defence, retail and BFSI majorly. Market demand is expected to decline further in the coming years and hence it is left to deeply affect the markets. Thus, consumers and organizations are moving to the Internet in their processes. This shift is also making changes to companies’ strategy and consumers behaviors in different industries.

Ryan, rising application of innovative video security systems such as 360 security cameras, thermal cameras, and CCTV are fueling the facial recognition market. These systems are now applied for industrial control, traffic signals, and security services. This is driving the market need for better security within the commercial offices, airports, public transportation, and homes among others. On this trend, there will be an additional increase in the implementation of facial recognition in various sectors.

One of the growth trends visible in the facial recognition systems market is that the usage of artificial Intelligence is picking up speed. These systems apply the use of artificial neuron networks and artificial intelligence to recognize and authenticate people by images or videos. They make it easier to increase user attention, detect emotions, control access, study consumers’ actions, and work on safety. These two are anticipated to intensify market growth in numerous sectors as they are combined.

Comprehensive Analysis of Facial Recognition Market

The facial recognition market growth is rising at an exponential rate due to its market segmentation. This market expansion rightly presents a detailed local analysis based on the forces such as supply and demand which define the industry. These segmentations are methodically segregated by component analysis, by technology analysis, by application analysis and by end-user analysis. By component analysis include services and solutions. By technology analysis include 3D, 2D facial recognition, thermal face recognition, and skin texture analysis, among others. By application analysis include face identification, access control, security & surveillance, among others. By end-user analysis include BFSI, healthcare, government & defense, IT & telecom, retail & ecommerce, automobile & transportation, among others.

The North America region lead the facial recognition market share by benefitting a market size of USD 1.73 billion in 2019 due to rising infrastructural growth.

The top players have a significant responsibility in the information & communication technology industry for confirming industrial prospectus growth and determining the market trends. These players include, NEC Corporation, FaceFirst, Inc., IntelliVision, Polaris Sensor Technologies, Inc., Aware, Inc., Ayonix Corporation, Cognitec Systems GmbH, Herta Security, Thales Group, Animetrics, Daon, ID3 Technologies, Idemia these market players provide a level-playing competitive landscape.

In September 2022, CyberLink Corporation integrated its FaceMe AI facial recognition engine into MediaTek's Genio 1200 AIoT platform, enhancing facial recognition capabilities for various industries like security, smart banking, and retail.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2016 - 2027

Base Year 2019

Forecast Period 2020 - 2027

Historical Period 2016 – 2018

Unit Value (USD Billion)

SegmentationBy Component

Solutions

Services

By Technology

2D Facial Recognition

3D Facial Recognition

Thermal Face Recognition

Skin Texture Analysis

Others (Holistic Matching, etc.)

By Application

Face Identification

Access Control

Security & Surveillance

Others (Image Database Investigations, Identifying Genetic Disorders, etc.)

By End-user

BFSI

Healthcare

Government & Defense

IT & Telecom

Retail & ecommerce

Automobile & Transportation

Others (Manufacturing, Media & Entertainment, etc.)

By Region

North America (U.S. and Canada)

Europe (UK, Germany, France, Italy, Spain, Rest of Europe)

Asia Pacific (China, Japan, India, Southeast Asia, and the Rest of Asia Pacific)

The Middle East & Africa (South Africa, GCC and the Rest of the Middle East & Africa)

Latin America (Brazil, Mexico, and the Rest of Latin America)


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1. Introduction
1.1. Definition, By Segment
1.2. Research Approach
1.3. Sources
2. Executive Summary
3. Market Dynamics
3.1. Drivers, Restraints, and Opportunities
3.2. Emerging Trends
4. Key Insights
4.1. Macro and Micro Economic Indicators
4.2. Impact of COVID-19
4.2.1. Short-term Impact
4.2.2. Long-term Impact
4.3. Key Industry Developments – In Response to the COVID-19 Impact
4.4. Consolidated SWOT Analysis of Key Players
4.5. Porter’s Five Force Analysis
5. Global Facial Recognition Market Analysis, Insights and Forecast, 2016-2027
5.1. Key Findings / Summary
5.2. Market Size and Forecast – By Component (Value)
5.2.1. Solution
5.2.2. Services
5.3. Market Size and Forecast – By Technology (Value)
5.3.1. 2D Facial Recognition
5.3.2. 3D Facial Recognition
5.3.3. Thermal Face Recognition
5.3.4. Skin Texture Analysis
5.3.5. Others (Holistic Matching, etc.)
5.4. Market Size and Forecast – By Application (Value)
5.4.1. Face Identification
5.4.2. Access Control
5.4.3. Security & Surveillance
5.4.4. Others (Image Database Investigations, Identifying Genetic Disorders, etc.)
5.5. Market Size and Forecast – By Industry (Value)
5.5.1. BFSI
5.5.2. Healthcare
5.5.3. Government & Defense
5.5.4. IT and Telecom
5.5.5. Retail and Ecommerce
5.5.6. Automobile & Transportation
5.5.7. Others (Manufacturing, Media & Entertainment, etc.)
5.6. Market Size and Forecast – By Region (Value)
5.6.1. North America
5.6.2. Europe
5.6.3. Asia Pacific
5.6.4. Middle East & Africa
5.6.5. Latin America
6. North America Facial Recognition Market Analysis, Insights and Forecast, 2016-2027
6.1. Key Findings / Summary
6.2. Market Size and Forecast – By Component (Value)
6.2.1. Solution
6.2.2. Services
6.3. Market Size and Forecast – By Technology (Value)
6.3.1. 2D Facial Recognition
6.3.2. 3D Facial Recognition
6.3.3. Thermal Face Recognition
6.3.4. Skin Texture Analysis
6.3.5. Others (Holistic Matching, etc.)
6.4. Market Size and Forecast – By Application (Value)
6.4.1. Face Identification
6.4.2. Access Control
6.4.3. Security & Surveillance
6.4.4. Others (Image Database Investigations, Identifying Genetic Disorders, etc.)
6.5. Market Size and Forecast – By Industry (Value)
6.5.1. BFSI
6.5.2. Healthcare
6.5.3. Government & Defense
6.5.4. IT and Telecom
6.5.5. Retail and Ecommerce
6.5.6. Automobile & Transportation
6.5.7. Others (Manufacturing, Media & Entertainment, etc.)
6.6. Market Size and Forecast – By Country (Value)
6.6.1. United States
6.6.2. Canada
7. Europe Facial Recognition Market Analysis, Insights and Forecast, 2016-2027
7.1. Key Findings / Summary
7.2. Market Size and Forecast – By Component (Value)
7.2.1. Solution
7.2.2. Services
7.3. Market Size and Forecast – By Technology (Value)
7.3.1. 2D Facial Recognition
7.3.2. 3D Facial Recognition
7.3.3. Thermal Face Recognition
7.3.4. Skin Texture Analysis
7.3.5. Others (Holistic Matching, etc.)
7.4. Market Size and Forecast – By Application (Value)
7.4.1. Face Identification
7.4.2. Access Control
7.4.3. Security & Surveillance
7.4.4. Others (Image Database Investigations, Identifying Genetic Disorders, etc.)
7.5. Market Size and Forecast – By Industry (Value)
7.5.1. BFSI
7.5.2. Healthcare
7.5.3. Government & Defense
7.5.4. IT and Telecom
7.5.5. Retail and Ecommerce
7.5.6. Automobile & Transportation
7.5.7. Others (Manufacturing, Media & Entertainment, etc.)
7.6. Market Size and Forecast – By Country (Value)
7.6.1. Germany
7.6.2. The U.K.
7.6.3. France
7.6.4. Scandinavia
7.6.5. Rest of Europe
8. Asia Pacific Facial Recognition Market Analysis, Insights and Forecast, 2016-2027
8.1. Key Findings / Summary
8.2. Market Size and Forecast – By Component (Value)
8.2.1. Solution
8.2.2. Services
8.3. Market Size and Forecast – By Technology (Value)
8.3.1. 2D Facial Recognition
8.3.2. 3D Facial Recognition
8.3.3. Thermal Face Recognition
8.3.4. Skin Texture Analysis
8.3.5. Others (Holistic Matching, etc.)
8.4. Market Size and Forecast – By Application (Value)
8.4.1. Face Identification
8.4.2. Access Control
8.4.3. Security & Surveillance
8.4.4. Others (Image Database Investigations, Identifying Genetic Disorders, etc.)
8.5. Market Size and Forecast – By Industry (Value)
8.5.1. BFSI
8.5.2. Healthcare
8.5.3. Government & Defense
8.5.4. IT and Telecom
8.5.5. Retail and Ecommerce
8.5.6. Automobile & Transportation
8.5.7. Others (Manufacturing, Media & Entertainment, etc.)
8.6. Market Size and Forecast – By Country (Value)
8.6.1. China
8.6.2. Japan
8.6.3. India
8.6.4. Southeast Asia
8.6.5. Rest of Asia Pacific
9. Middle East & Africa Facial Recognition Market Analysis, Insights and Forecast, 2016-2027
9.1. Key Findings / Summary
9.2. Market Size and Forecast – By Component (Value)
9.2.1. Solution
9.2.2. Services
9.3. Market Size and Forecast – By Technology (Value)
9.3.1. 2D Facial Recognition
9.3.2. 3D Facial Recognition
9.3.3. Thermal Face Recognition
9.3.4. Skin Texture Analysis
9.3.5. Others (Holistic Matching, etc.)
9.4. Market Size and Forecast – By Application (Value)
9.4.1. Face Identification
9.4.2. Access Control
9.4.3. Security & Surveillance
9.4.4. Others (Image Database Investigations, Identifying Genetic Disorders, etc.)
9.5. Market Size and Forecast – By Industry (Value)
9.5.1. BFSI
9.5.2. Healthcare
9.5.3. Government & Defense
9.5.4. IT and Telecom
9.5.5. Retail and Ecommerce
9.5.6. Automobile & Transportation
9.5.7. Others (Manufacturing, Media & Entertainment, etc.)
9.6. Market Size and Forecast – By Country (Value)
9.6.1. GCC
9.6.2. South Africa
9.6.3. Rest of Middle East and Africa
10. Latin America Facial Recognition Market Analysis, Insights and Forecast, 2016-2027
10.1. Key Findings / Summary
10.2. Market Size and Forecast – By Component (Value)
10.2.1. Solution
10.2.2. Services
10.3. Market Size and Forecast – By Technology (Value)
10.3.1. 2D Facial Recognition
10.3.2. 3D Facial Recognition
10.3.3. Thermal Face Recognition
10.3.4. Skin Texture Analysis
10.3.5. Others (Holistic Matching, etc.)
10.4. Market Size and Forecast – By Application (Value)
10.4.1. Face Identification
10.4.2. Access Control
10.4.3. Security & Surveillance
10.4.4. Others (Image Database Investigations, Identifying Genetic Disorders, etc.)
10.5. Market Size and Forecast – By Industry (Value)
10.5.1. BFSI
10.5.2. Healthcare
10.5.3. Government & Defense
10.5.4. IT and Telecom
10.5.5. Retail and Ecommerce
10.5.6. Automobile & Transportation
10.5.7. Others (Manufacturing, Media & Entertainment, etc.)
10.6. Market Size and Forecast – By Country (Value)
10.6.1. Brazil
10.6.2. Mexico
10.6.3. Rest of Latin America
11. Competition Matrix
11.1. Business Strategies Adopted by Leading Players
11.2. Key Technological Developments
12. Global Facial Recognition Market Revenue Share Analysis, 2019
13. Company Profiles (Top 10 Players at Global Level)
13.1. NEC Corporation
13.1.1. Overview
13.1.2. Description
13.1.3. Financials (Data as available in public domain and/or on paid databases)
13.1.4. Recent Developments
13.2. FaceFirst, Inc.
13.2.1. Overview
13.2.2. Description
13.2.3. Financials (Data as available in public domain and/or on paid databases)
13.2.4. Recent Developments
13.3. IntelliVisio
13.3.1. Overview
13.3.2. Description
13.3.3. Financials (Data as available in public domain and/or on paid databases)
13.3.4. Recent Developments
13.4. Polaris Sensor Technologies, Inc.
13.4.1. Overview
13.4.2. Description
13.4.3. Financials (Data as available in public domain and/or on paid databases)
13.4.4. Recent Developments
13.5. Aware, Inc.
13.5.1. Overview
13.5.2. Description
13.5.3. Financials (Data as available in public domain and/or on paid databases)
13.5.4. Recent Developments
13.6. Ayonix Corporation
13.6.1. Overview
13.6.2. Description
13.6.3. Financials (Data as available in public domain and/or on paid databases)
13.6.4. Recent Developments
13.7. Cognitec Systems GmbH
13.7.1. Overview
13.7.2. Description
13.7.3. Financials (Data as available in public domain and/or on paid databases)
13.7.4. Recent Developments
13.8. Herta Security
13.8.1. Overview
13.8.2. Description
13.8.3. Financials (Data as available in public domain and/or on paid databases)
13.8.4. Recent Developments
13.9. Thales Group (Gemalto NV)
13.9.1. Overview
13.9.2. Description
13.9.3. Financials (Data as available in public domain and/or on paid databases)
13.9.4. Recent Developments
13.10. Animetrics
13.10.1. Overview
13.10.2. Description
13.10.3. Financials (Data as available in public domain and/or on paid databases)
13.10.4. Recent Developments
13.11. Daon
13.11.1. Overview
13.11.2. Description
13.11.3. Financials (Data as available in public domain and/or on paid databases)
13.11.4. Recent Developments
13.12. ID3 Technologies
13.12.1. Overview
13.12.2. Description
13.12.3. Financials (Data as available in public domain and/or on paid databases)
13.12.4. Recent Developments
13.13. Idemia
13.13.1. Overview
13.13.2. Description
13.13.3. Financials (Data as available in public domain and/or on paid databases)
13.13.4. Recent Developments

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