Facial Recognition Market Size By Component (Software [2D Facial Recognition, 3D Facial Recognition, Facial Analytics], Service), By Application (Criminal Investigation, Homeland Security, ID Management, Attendance Tracking & Monitoring, Intelligent Signage, Photo Indexing & Sorting, Physical Security), By End-Use (Aerospace & Defense, Automotive, BFSI, Education, Retail & E-Commerce, Healthcare), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Jul 2020  |  Report ID: GMI2593  |  Authors: Preeti Wadhwani, Saloni Gankar

Report Format: PDF   |   Pages: 220   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Facial Recognition Market size surpassed USD 3 billion in 2019 and is poised to grow at a CAGR of over 18% between 2020 and 2026. The rapid adoption of advanced face identification systems for security and surveillance is driving the market growth.
 

Facial recognition technology will observe high demand from police departments to improve criminal investigation. The integration of AI allows officers to submit images taken in the field or collected from photos or videos and instantaneously match them to photos in government databases.
 

Facial Recognition Market

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The ongoing coronavirus (COVID-19) pandemic will surge the market demand for facial recognition solutions to track quarantine violators. Several countries are actively deploying facial recognition techniques to tackle and combat the coronavirus pandemic. A wide network of cameras with face identification technology has been deployed in China to track individuals violating isolation rules. Several China-based AI market players, such as SenseTime and Hanwang Technology, have launched the solutions that can accurately recognize citizens even if they are masked.
 

Facial Recognition Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 3.5 Billion
Historical Data for: 2016 to 2018 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 18% 2026 Value Projection: USD 12 Billion
Pages: 220 Tables, Charts & Figures: 291
Geographies covered (21): U.S., Canada, UK, Germany, France, Italy, Spain, Russia, China, India, Japan, South Korea, Singapore, Australia & New Zealand, Brazil, Mexico, Argentina, Saudi Arabia, UAE, Israel, South Africa
Segments covered: Component, Application, End-Use and Region
Companies covered (25): Accenture PLC, Animetrics Inc., AnyVision, Aware, Inc., Ayonix Corporation, Certibio, Cognitec Systems GmbH, Daon Inc., Face++, Facefirst Inc., Fujitsu Limited, Fulcrum Biometrics, Inc., Herta Security, HYPR Corp., IDEMIA, Key Lemon Ltd., Leidos, M2SYS, NEC Corporation, Nuance Communications, NtechLab, Panasonic Corporation, SmilePass, Stereovision Imaging, Inc., Thales Group
Growth Drivers:
  • Ongoing technological advancements
  • Increasing adoption of the technology in consumer electronics globally
  • Demand for cloud-based facial recognition solutions in the U.S.
  • Adoption of the technology for surveillance by the government sector in Europe and Asia Pacific
  • Rising adoption of the technology in public places in Latin America and MEA
Pitfalls & Challenges:
  • Data security and privacy concerns
  • High cost of implementation

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Demand for 3D face identification systems that ensure enhanced precision will boost the U.S. industry growth

The U.S. 3D facial recognition market accounted for around 50% revenue share in 2019. 3D solutions are more precise & accurate and eliminate the disadvantages of 2D systems. The demand for more accuracy in capturing the real-time image of a person's facial surface has led to the rapid market adoption of an effective software using a 3D model.
 

The technology uses depth and axis of measurement, which is not impacted by light and can also be used in darkness. It can recognize a subject at different viewing angles with the potential to identify a face in a profile up to 90-degrees. In the U.S., the market demand for this 3D technology is growing in the consumer electronics sector. In 2019, Apple and Samsung smartphone devices were the most popular facial recognition devices with 3D technology in the U.S. It is estimated that in the next two years majority of the smartphones in the U.S. will have a 3D facial recognition technology.
 

Use of facial recognition systems by law enforcement agencies to identify criminals will fuel the European facial recognition market

Europe Facial Recognition Market By Application

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In Europe, growing concerns over criminal intrusions in public places have boosted the market demand for advanced solutions to ensure public safety. Police authorities can use these systems to capture the images of every individual entering the concerned premises at the entry point to stop unwanted intrusions. The INTERPOL Face Recognition System (IFRS) contains facial images from more than 160 countries, making it a unique global criminal database. Around 650 criminals, fugitives, missing people, or individuals of interest have been identified by the IFRS since its launch in 2016.
 

In Denmark, the Danish Superliga Football Club’s home ground, Brøndby Stadium adopted facial recognition technology by Panasonic Corporation to ensure public safety. Similarly, in Moscow, Russia, a pilot program for facial recognition technology was launched at metro and train stations near Luzhniki Stadium ahead of FIFA World Cup 2018. The technology was used to flag a theft suspect during the Russia-Spain game. Around 50,000 images of criminal suspects and blacklisted foreign fans were uploaded into the surveillance system installed at Moscow’s fan zone and the nearby Luzhniki Stadium. Such factors are positively impacting the Europe market growth.
 

Implementation of facial recognition in the retail industry for targeted advertising and improved customer satisfaction

In the global facial recognition market, the retail & e-commerce sector will expand at over 20% CAGR through 2026. Facial recognition can be used for targeted advertising and marketing. The algorithm can be used to identify a customer’s age and gender, enabling store owners to evaluate the efficiency of a marketing strategy and determine the commercial target audience. Furthermore, when a client is identified by the system, purchase history and preferences can be tracked to offer relevant offers. Retailers can keep track of products that are being glanced for a longer period by clients.
 

The solution can also enhance customer experience by instantly recognizing major & important customers. Retailers can send personalized messages on discounts, recommendations, and other offers to customers in stores. The technology can also be used to send meaningful alerts to store employees so that they can provide enhanced assistance to customers. It can be integrated with other technologies in the retail store, such as POS, loyalty systems, and CRM, helping store associates to gain deeper insights into their client base.
 

Growing adoption of advanced biometric technologies across several sectors in Asia Pacific

Asia Pacific Facial Recognition Market By Country

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The Asia Pacific facial recognition market is anticipated to witness growth of around 19% during the forecast timespan. The advent of digitalization in countries including China, India, Japan, and South Korea will favor the market adoption of advanced technologies. The face identification technology is used in several end-use verticals to enhance access control in corporate offices, improve security, and ensure safe & fast transactions.
 

In April 2020, LG CNS, a global IT service company, launched a ‘face recognition community currency’ system in South Korea, which combines AI, blockchain, and cloud server technologies. When employee identification is done with the aid of facial recognition, the system automatically proceeds with payment through blockchain-based community currency encrypted in the cloud server.
 

Industry players are focusing on R&D to launch innovative facial recognition solutions

Market players are focusing on research & development to launch innovative solutions that cater to the market demand of several end-use sectors. In June 2019, Ayonix Face Technologies launched its new AICam platform, an IP camera-embedded application for high-performance face detection and matching. With the launch of this solution, the company aims to provide fast and accurate security technology to its clients.
 

Major players operating in the industry include Aware. Inc., Ayonix Corporation, Cognitec Systems GmbH, Daon, Inc., Idemia, Facefirst, Inc., Thales Group, Herta Security, NEC Corporation, Ntechlab, Stereovision Imaging, Inc., Panasonic Corporation, and VisionLabs B.V.
 

The facial recognition market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2026 for the following segments:
 

Market, By Component

  • Software
    • 2D facial recognition
    • 3D facial recognition
    • Facial analytics
  • Service

Market, By Application

  • Criminal investigation
  • Homeland security
  • ID Management, attendance tracking & monitoring
  • Intelligent signage
  • Photo indexing & sorting
  • Physical security
  • Others

Market, By End-Use

  • Aerospace & defense
  • Automotive
  • BFSI
  • Education
  • Retail & e-commerce
  • Healthcare
  • Government
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Singapore
    • Australia & New Zealand (ANZ)
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa
       

Frequently Asked Questions (FAQ) :

The retail & e-commerce sector in the market will expand at over 20% CAGR through 2026, says this research report by Global Market Insights, Inc.
According to the analysts GMI, the Asia Pacific market is anticipated to witness growth of around 19% during the forecast timespan.
Major players operating in the industry include Aware. Inc., Ayonix Corporation, Cognitec Systems GmbH, Daon, Inc., Idemia, Facefirst, Inc., Thales Group, Herta Security, NEC Corporation, Ntechlab, Stereovision Imaging, Inc., Panasonic Corporation, and VisionLabs B.V.
3D solutions are more precise & accurate and eliminate the disadvantages of 2D systems. The demand for more accuracy in capturing the real-time image of a person's facial surface has led to the rapid market adoption of an effective software using a 3D model.

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Premium Report Details

  • Published Date: Jul 2020
  • Pages: 220
  • Tables: 260
  • Charts / Figures: 31
  • Companies covered: 25
  • Countries covered: 21

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