Facial Recognition Market Size, Share, Regional Analysis by Key Players | Industry Forecast to 2028

The global facial recognition market size is expected to reach USD 13.87 Billion at a steady CAGR of 15.7% in 2028, according to latest analysis by Emergen Research. This steady market revenue growth can be attributed to rising need for physical security, increasing deployment and use of biometric devices, and rising deployment of 5G technology. Rising demand for electronic devices such as mobile phones, wearable devices, smart devices, and increase in technology adoption such as cloud-based technology and IoT is expected to continue to fuel growth of the global facial recognition market going ahead

Increasingly stringent government regulations regarding biometric identity and proof of citizenship and rising deployment of video surveillance to monitor criminal activities are factor increasing investments by governments in facial recognition solutions and systems. Continuous improvements in technology such as Artificial Intelligence and increasing deployment of drone surveillance are some other factors boosting market growth. However, high implementation costs and lack of knowledge and awareness about these solutions are some factors restrain growth of the facial recognition market to a certain extent.

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Our sample copy includes a brief analysis of the Facial Recognition market, the List of Tables and Figures, the market’s competitive scenario and geographical segmentation, and product innovation and future developments based on a sought-after research methodology. Therefore, it serves as a comprehensive framework of the global Facial Recognition market dynamics and comprises a critical study of consumers’ journeys, the current and emerging market avenues, and strategic initiatives undertaken by companies to enable readers to gain meaningful insights into the market.

Regional Outlook:

The report offers a comprehensive analysis of the current growth opportunities for various regions of the Facial Recognition market. It gauges the revenue shares of these regions over the forecast timeline. Furthermore, the report analyzes the year-on-year growth rate of these regions over the forecast duration. The leading geographic regions encompassed in the report include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Outlook:

The latest research report is inclusive of a precise summary of the intensely competitive landscape of the global Facial Recognition market. It offers a systematic presentation of the company profiles of the leading market players. This section of the report analyzes the effective initiatives undertaken by these players for business expansion in the long run. In addition, this section highlights the key developments and financial positions of these companies to explain the overall market scenario. The company profiles of the established and new players have been assessed using certain effective analytical tools, such as Porter’s Five Forces analysis and SWOT analysis.

Leading companies operating across the global Facial Recognition market:

  • NEC Corporation
  • Cognitec Systems
  • Aware Inc.
  • FaceFirst Inc.
  • Safran SA
  • Panasonic Corporation
  • Gemalto NV
  • Key Lemon Ltd.
  • Ayonix Corporation
  • Face++
  • Others

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Key Highlights From the Report

  • In March 2021, NEC Corporation, which is a market leader in the integration of IT and network technologies, announced commence trial for Face Express, which is a new boarding procedure for international departure flights using facial recognition technology at Narita International Airport (NRT), Narita International Airport Corporation (NAA), Tokyo International Airport (Haneda Airport, HND), and Tokyo International Air Terminal Corporation (TIAT). Utilization of facial recognition consist of advanced biometric authentication technologies, Bio-Idiom.
  • 3D facial recognition segment revenue growth rate is projected to incline rapidly during the forecast period. Rising demand for new and more innovative technologies to obtain more precise and accurate matches of biometrics to identify users are factors driving revenue growth of this segment.
  • Identity management segment revenue growth rate is projected to incline rapidly during the forecast period. Increasing concerns regarding safety of home-based systems and rising number of cases of cyber-criminal activity are factor boosting market growth.
  • Government segment accounted for largest revenue share in the facial recognition market in 2020, Increasing deployment of biometrics to establish identity of citizens and increasing digitalization of documents are factors further supporting market growth.
  • Software segment accounted for largest revenue share in the facial recognition market in 2020, which is projected to incline rapidly during the forecast period. Rising need of technology development such as cloud-based technology, Artificial Intelligence systems, and Internet of connectivity technology is boosting global facial recognition market growth.
  • North America accounted for largest revenue share contribution to the global facial recognition market in 2020. Technological advancements in user engagement, user security, and human identification in various sectors such as BFSI, healthcare, telecommunications, mobile phones, and defense is expected to boost growth of the facial recognition market to a significant extent. Increasing investments by major players in face recognition technologies for deployment at airports and large enterprises is expected to further support market growth.

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Emergen Research has segmented the global facial recognition market on the basis of component, technology, application, end use, and region:

Component Outlook (Revenue, USD Billion; 2018–2028)

  • Hardware
  • Software

Technology Outlook (Revenue, USD Billion; 2018–2028)

  • 2D Facial Recognition
  • 3D Facial Recognition
  • Facial Analytics

Application Outlook (Revenue, USD Billion; 2018–2028)

  • Physical Security
  • ID Management
  • Criminal Investigation
  • Business Intelligence
  • Photo Indexing and Sorting

End use Outlook (Revenue, USD Billion; 2018–2028)

  • BFSI
  • IT & Telecommunication
  • Healthcare
  • Government

Regional Outlook (Revenue, USD Billion; 2018–2028)

  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. BENELUX
    5. Switzerland
    6. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. India
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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Global Facial Recognition Market – Table of Contents:

  1. Market Summary:
  2. Product Outlook:
  • Production, by product type
  • Revenue, by product type
  • Price, by product type
  1. Application Outlook:
  • Consumption, by application
  • Market Share, by application
  1. Geographical Breakdown:
  • Production, by region
  • Revenue, by region
  • Consumption, by region
  1. Manufacturers’ Overview:
  • Production Locations and Areas Served
  • Product Launch, Application, and Specification
  • Production, Revenue, Ex-factory Price, and Gross Margin
  • Key Businesses

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About Emergen Research 

At Emergen Research, we believe in advancing with technology. We are a growing Marketresearch and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

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