North America Facial Recognition Market Size, Share & Trends Analysis Report By Organization Size (Large Enterprises, and Small & Medium Enterprises), By Deployment Mode, By Offering, By Technology, By Application, By Vertical, By Country and Growth Forecast, 2024 - 2031
The North America Facial Recognition Market would witness market growth of 13.7% CAGR during the forecast period (2024-2031).
The US market dominated the North America Facial Recognition Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $4,027.3 million by 2031. The Canada market is experiencing to witness a CAGR of 16.2% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 15.2% during (2024 - 2031).
The use of such technology has revolutionized how people engage with digital systems, devices, and services. It has become a potent tool for identity verification, authentication, and access control. Identity verification technology, which offers unmatched convenience, security, and efficiency in verifying people's identities, has been widely adopted across various industries and sectors owing to advancements in artificial intelligence, computer vision, and biometric authentication.
In recent years, face recognition technology has increased exponentially due to the growing need in both the public and private sectors for easy and secure identity verification solutions. Identity verification technology is implemented across numerous sectors, including banking, finance, retail, healthcare, transportation, and law enforcement, to enhance security, streamline operations, and optimize customer experiences.
BFSI organizations in Canada are subject to stringent regulatory requirements regarding customer authentication, data protection, and privacy. This technology helps banks and insurers comply with regulatory standards. Identity verification systems provide secure and compliant customer identification and authentication methods, ensuring that sensitive data is protected, and privacy rights are upheld. As per the data published in 2023 by the International Trade Administration, Canada’s banking industry contributed 3.6% (or US$55 billion) to Canada’s GDP. Additionally, as per the data published in 2023 by the International Trade Administration, the principal law enforcement agencies and the Mexican military (Army, Air Force, Navy, and the Secretary of Public Security and Citizen Protection or SSPC) will be funded by the national security and defense budget in 2023, which increased from USD 16.5 billion in 2022 to USD 17.8 billion. Hence, North America's growing BFSI and national security sectors are expected to boost the region's demand for such systems.
Based on Organization Size, the market is segmented into Large Enterprises, and Small & Medium Enterprises. Based on Deployment Mode, the market is segmented into On-premises, and Cloud. Based on Offering, the market is segmented into Software, Hardware, and Services. Based on Technology, the market is segmented into 3D, 2D, and Facial Analytics. Based on Application, the market is segmented into Access Control, Attendance Tracking & Monitoring, Security & Surveillance, Emotion Recognition, and Others. Based on Vertical, the market is segmented into Government, Media & Entertainment, Education, Healthcare & Lifesciences, Automobile & Transportation, Manufacturing, Retail & eCommerce, IT & Telecom, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- IDEMIA SAS (Advent International, Inc.)
- Microsoft Corporation
- NEC Corporation
- Thales Group S.A.
- 3M Company
- Cognitec Systems GmbH (Salto Systems, S.L.)
- Aware, Inc.
- Onfido Limited
- Animetrics
- Daon, Inc.
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
- On-premises
- Cloud
- Software
- Hardware
- Services
- 3D
- 2D
- Facial Analytics
- Access Control
- Attendance Tracking & Monitoring
- Security & Surveillance
- Emotion Recognition
- Others
- Government
- Media & Entertainment
- Education
- Healthcare & Lifesciences
- Automobile & Transportation
- Manufacturing
- Retail & eCommerce
- IT & Telecom
- Others
- US
- Canada
- Mexico
- Rest of North America
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Facial Recognition Market, by Organization Size
- 1.4.2 North America Facial Recognition Market, by Deployment Mode
- 1.4.3 North America Facial Recognition Market, by Offering
- 1.4.4 North America Facial Recognition Market, by Technology
- 1.4.5 North America Facial Recognition Market, by Application
- 1.4.6 North America Facial Recognition Market, by Vertical
- 1.4.7 North America Facial Recognition Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Opportunities
- 3.2.3 Market Restraints
- 3.2.4 Market Challenges
- Chapter 4. Competition Analysis – Global
- 4.1 KBV Cardinal Matrix
- 4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Partnerships, Collaborations and Agreements
- 4.2.2 Product Launches and Product Expansions
- 4.2.3 Geographical Expansions
- 4.3 Market Share Analysis, 2023
- 4.4 Top Winning Strategies
- 4.4.1 Key Leading Strategies: Percentage Distribution (2019-2023)
- 4.4.2 Key Strategic Move: (Product Launches and Product Expansions: 2022, Nov – 2024, Mar) Leading Players
- 4.5 Porter’s Five Forces Analysis
- Chapter 5. North America Facial Recognition Market by Organization Size
- 5.1 North America Large Enterprises Market by Region
- 5.2 North America Small & Medium Enterprises Market by Region
- Chapter 6. North America Facial Recognition Market by Deployment Mode
- 6.1 North America On-premise Market by Region
- 6.2 North America Cloud Market by Region
- Chapter 7. North America Facial Recognition Market by Offering
- 7.1 North America Software Market by Country
- 7.2 North America Hardware Market by Country
- 7.3 North America Services Market by Country
- Chapter 8. North America Facial Recognition Market by Technology
- 8.1 North America 3D Market by Country
- 8.2 North America 2D Market by Country
- 8.3 North America Facial Analytics Market by Country
- Chapter 9. North America Facial Recognition Market by Application
- 9.1 North America Access Control Market by Country
- 9.2 North America Attendance Tracking & Monitoring Market by Country
- 9.3 North America Security & Surveillance Market by Country
- 9.4 North America Emotion Recognition Market by Country
- 9.5 North America Others Market by Country
- Chapter 10. North America Facial Recognition Market by Vertical
- 10.1 North America Government Market by Country
- 10.2 North America Media & Entertainment Market by Country
- 10.3 North America Education Market by Country
- 10.4 North America Healthcare & Lifesciences Market by Country
- 10.5 North America Automobile & Transportation Market by Country
- 10.6 North America Manufacturing Market by Country
- 10.7 North America Retail & eCommerce Market by Country
- 10.8 North America IT & Telecom Market by Country
- 10.9 North America Others Market by Country
- Chapter 11. North America Facial Recognition Market by Country
- 11.1 US Facial Recognition Market
- 11.1.1 US Facial Recognition Market by Organization Size
- 11.1.2 US Facial Recognition Market by Deployment Mode
- 11.1.3 US Facial Recognition Market by Offering
- 11.1.4 US Facial Recognition Market by Technology
- 11.1.5 US Facial Recognition Market by Application
- 11.1.6 US Facial Recognition Market by Vertical
- 11.2 Canada Facial Recognition Market
- 11.2.1 Canada Facial Recognition Market by Organization Size
- 11.2.2 Canada Facial Recognition Market by Deployment Mode
- 11.2.3 Canada Facial Recognition Market by Offering
- 11.2.4 Canada Facial Recognition Market by Technology
- 11.2.5 Canada Facial Recognition Market by Application
- 11.2.6 Canada Facial Recognition Market by Vertical
- 11.3 Mexico Facial Recognition Market
- 11.3.1 Mexico Facial Recognition Market by Organization Size
- 11.3.2 Mexico Facial Recognition Market by Deployment Mode
- 11.3.3 Mexico Facial Recognition Market by Offering
- 11.3.4 Mexico Facial Recognition Market by Technology
- 11.3.5 Mexico Facial Recognition Market by Application
- 11.3.6 Mexico Facial Recognition Market by Vertical
- 11.4 Rest of North America Facial Recognition Market
- 11.4.1 Rest of North America Facial Recognition Market by Organization Size
- 11.4.2 Rest of North America Facial Recognition Market by Deployment Mode
- 11.4.3 Rest of North America Facial Recognition Market by Offering
- 11.4.4 Rest of North America Facial Recognition Market by Technology
- 11.4.5 Rest of North America Facial Recognition Market by Application
- 11.4.6 Rest of North America Facial Recognition Market by Vertical
- Chapter 12. Company Profiles
- 12.1 IDEMIA SAS (Advent International, Inc.)
- 12.1.1 Company Overview
- 12.1.2 Recent strategies and developments:
- 12.1.2.1 Partnerships, Collaborations, and Agreements:
- 12.1.3 SWOT Analysis
- 12.2 Microsoft Corporation
- 12.2.1 Company Overview
- 12.2.2 Financial Analysis
- 12.2.3 Segmental and Regional Analysis
- 12.2.4 Research & Development Expenses
- 12.2.5 Recent strategies and developments:
- 12.2.5.1 Product Launches and Product Expansions:
- 12.2.6 SWOT Analysis
- 12.3 NEC Corporation
- 12.3.1 Company Overview
- 12.3.2 Financial Analysis
- 12.3.3 Segmental and Regional Analysis
- 12.3.4 Research & Development Expenses
- 12.3.5 Recent strategies and developments:
- 12.3.5.1 Partnerships, Collaborations, and Agreements:
- 12.3.5.2 Product Launches and Product Expansions:
- 12.3.6 SWOT Analysis
- 12.4 Thales Group S.A.
- 12.4.1 Company Overview
- 12.4.2 Financial Analysis
- 12.4.3 Segmental and Regional Analysis
- 12.4.4 Research & Development Expenses
- 12.4.5 Recent strategies and developments:
- 12.4.5.1 Product Launches and Product Expansions:
- 12.4.6 SWOT Analysis
- 12.5 3M Company
- 12.5.1 Company Overview
- 12.5.2 Financial Analysis
- 12.5.3 Segmental and Regional Analysis
- 12.5.4 Research & Development Expense
- 12.5.5 SWOT Analysis
- 12.6 Cognitec Systems GmbH (Salto Systems, S.L.)
- 12.6.1 Company Overview
- 12.6.2 Recent strategies and developments:
- 12.6.2.1 Product Launches and Product Expansions:
- 12.6.3 SWOT Analysis
- 12.7 Aware, Inc.
- 12.7.1 Company Overview
- 12.7.2 Financial Analysis
- 12.7.3 Regional Analysis
- 12.7.4 Research & Development Expenses
- 12.7.5 Recent strategies and developments:
- 12.7.5.1 Partnerships, Collaborations, and Agreements:
- 12.7.6 SWOT Analysis
- 12.8 Onfido Limited
- 12.8.1 Company Overview
- 12.8.2 Recent strategies and developments:
- 12.8.2.1 Partnerships, Collaborations, and Agreements:
- 12.8.3 SWOT Analysis
- 12.9 Animetrics
- 12.9.1 Company Overview
- 12.9.2 SWOT Analysis
- 12.10. Daon, Inc.
- 12.10.1 Company Overview
- 12.10.2 Recent strategies and developments:
- 12.10.2.1 Product Launches and Product Expansions:
- 12.10.2.2 Geographical Expansions:
- 12.10.3 SWOT Analysis
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