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Aug 30, 2021, 16: 30 ET
NEW YORK, Aug. 30, 2021 /PRNewswire/ — A new market research report on the global facial recognition market has been released by Technavio. The market is expected to grow by USD 3.78 billion, progressing at a CAGR of over 12% during 2021-2025. The report presents detailed information on the upcoming trends, challenges, and uncovers successful business strategies adopted by vendors during the crisis.
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Latest market research report titled Facial Recognition Market by Technology, End-user, Application, and Geography – Forecast and Analysis 2021-2025 has been announced by Technavio which is proudly partnering with Fortune 500 companies for over 16 years Facial Recognition Market Report: Major Facts
Released: Aug 2021
Forecast years: 2021-2025
No. of Exhibits: 123
Companies covered: 25+ companies including dominant players such as ASSA ABLOY AB (Sweden), Aware Inc. (US), Cognitec Systems GmbH (Germany), Fulcrum Biometrics Inc. (US), and IDEMIA (France).
Coverage: Application, technology, and end-user segments and geographical landscape.
Segmentation by Application: Based on the application, the market is segmented by identification and verification. The identification segment generated maximum revenue in the market in 2020. The growth of the market in the identification segment will be significant during the forecast period.
Segmentation by Geography: The facial recognition market size is analyzed across APAC, Europe, North America, South America, and MEA. North America is currently the largest market for facial recognition and the region is expected to retain its position over the forecast period. The facial recognition market in North America is mainly driven by the high adoption of advanced technologies at the initial stages for homeland security and defense. Also, the growing importance of facial recognition in the BFSI sector is expected to contribute to the growth of the facial recognition market in North America during the forecast period. The US is the key market for facial recognition in North America.
Major Growth Driver:
The global facial recognition market is driven by the increasing instances of identity threats. The growing reliance on websites and web applications is increasing the number of identity and data thefts worldwide. Also, the rising popularity of online gaming and social networking platforms is increasing the risk of identity theft. This is forcing end-users to implement secure authentication solutions, which is increasing the use of biometrics. Biometric solutions can incorporate the physical and behavioral features of users, which makes it difficult for hackers to forge identities. Therefore, the rising incidence of identity threats is expected to fuel the growth of the market during the forecast period.
Gain access to a detailed customer landscape matrix comparing key industry-driven parameters by requesting a free sample: www.technavio.com/talk-to-us?report=IRTNTR44231
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Table of contents:
Executive Summary
Market Landscape
Market ecosystem Value chain analysis Market Sizing
Market definition Market segment analysis Market size 2020 Market outlook: Forecast for 2020 – 2025 Five Forces Analysis
Bargaining power of buyers Bargaining power of suppliers Threat of new entrants Threat of substitutes Threat of rivalry Market condition Market Segmentation by Application
Market segments Comparison by Application Identification – Market size and forecast 2020-2025 Verification – Market size and forecast 2020-2025 Market opportunity by Application Market Segmentation by Technology
Market segments Comparison by Technology 3D facial recognition – Market size and forecast 2020-2025 2D facial recognition – Market size and forecast 2020-2025 Market opportunity by Technology Market Segmentation by End-user
Market segments Comparison by End-user Government sector – Market size and forecast 2020-2025 BFSI sector – Market size and forecast 2020-2025 Transportation sector – Market size and forecast 2020-2025 Other sectors – Market size and forecast 2020-2025 Market opportunity by End-user Customer landscape
Customer landscape Geographic Landscape
Geographic segmentation Geographic comparison North America – Market size and forecast 2020-2025 Europe – Market size and forecast 2020-2025 APAC – Market size and forecast 2020-2025 MEA – Market size and forecast 2020-2025 South America – Market size and forecast 2020-2025 Key leading countries Market opportunity by geography Market drivers Market challenges Market trends Vendor Landscape
Overview Landscape disruption Vendor Analysis
Vendors covered Market positioning of vendors ASSA ABLOY AB Aware Inc. Cognitec Systems GmbH Fulcrum Biometrics Inc. IDEMIA NEC Corp. Precise Biometrics AB Safran SA Synaptics Inc. Thales Group Appendix
Scope of the report Currency conversion rates for US$ Research methodology List of abbreviations Technavio’s library includes over 17,000+ reports covering more than 2,000 emerging technologies.
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