According to a new market research report "Facial Recognition Market by Component (Software Tools and Services), Technology, Use Case (Emotion Recognition, Attendance Tracking and Monitoring, Access Control, Law Enforcement), End-User, and Region - Global Forecast to 2022” ", published by MarketsandMarkets™, The global facial recognition market is expected to grow from USD 4.05 Billion in 2017 to USD 7.76 Billion by 2022, at CAGR of 13.9% from 2019 to 2022.
Facial recognition technologies are used to minimize the threats associated with terrorism and border securities. The growing need for surveillance at public places is expected to be one of the major factors that drives the growth of the facial recognition market.
Browse and in-depth TOC on “Facial Recognition Market”
82- Tables
37 - Figures
156 - Pages

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Major Key Companies
The facial recognition market report encompasses the competitive landscape, which presents the positioning of the 25 key facial recognition vendors based on their product offerings and business strategies. Some of these major vendors include Aware (US), NEC Corporation (Japan), Ayonix Corp. (Japan), Cognitec Systems (Germany), KeyLemon (Switzerland), nViso (Switzerland), Herta Security (Spain), Techno Brain (Kenya), Neurotechnology (Lithuania), Daon (US), Animetrics (US), 3M Company (US), IDEMIA (France), and Gemalto (Netherlands).
Industry Segmentation of Facial recognition market:
The components segment is further segmented into software tools and services. The services segment is expected to grow at the highest CAGR during the forecast period. Due to the growing awareness among enterprises about the features of facial recognition technologies and the rising need for a more secured biometric system, the demand for facial recognition systems is expected to be increasing globally.
On the basis of software tools, the 3D facial recognition technology segment is expected to have the largest market size during forecast period. The 3D facial recognition model overcomes the drawbacks of the 2D facial recognition technology. 3D facial technology is not dependent on illumination, which enables it to capture high-quality images in uncontrolled environments, such as poorly lit or completely dark areas. The 3D facial recognition technology has a high potential to analyze, identify, and verify the facial characteristics of individuals.
On the basis of use cases, the law enforcement segment is expected to have the largest market size during the forecast period. Facial recognition software and services are predominantly applied at the premises, where the enforcement, surveillance, and monitoring of the facial detection law is needed. Facial recognition technologies are capable of recognizing faces in real-time using webcam; providing accurate gender information; detecting age, mood, and other features; and searching faces from the database.
On the basis of end-user vertical, the facial recognition market is segmented into government, enterprises, and other end-users. The other end-users segment includes casinos, public places, automotive, mobile application, and Homeland Security, out of which, the government end-user vertical is expected to grow at the highest CAGR during the forecast period. Facial recognition technologies are widely being implemented by this sector for creating a safe environment, with enhanced security for the public.
Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period
Among the 5 regions, North America is expected to have the largest market size in the facial recognition market during the forecast period. The North American region has shown increased investments in the market, and several vendors have evolved to cater to the rapidly growing market. A considerable growth is expected in the region during the forecast period. The major initiatives taken for the facial recognition technology have their origin in this region. The smart city initiatives taken by the government in this region has positively impacted the adoption trend of the facial recognition technology to enhance the monitoring and improve the surveillance.

The facial recognition market faces many challenges. For instance, earlier the 2D technology was used for face recognition, where the captured images were highly dependent on the illumination conditions. The illumination conditions significantly affected the quality of the image. The other challenge was the incompatibility of integration between software tools and biometric hardware devices.

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