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Facial Recognition Market Size
- Report ID: GMI2593
- Published Date: Jul 2020
- Report Format: PDF
Facial Recognition Market Size
Facial Recognition Market size exceeded USD 3 billion in 2019 and is projected 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. Deployment of these solutions with camera networks will enable the police to track suspects, thieves, or criminals on roads or in crowded places.
Market will witness a 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.
The ongoing coronavirus (COVID-19) pandemic will surge the market value 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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2019 |
| Facial Recognition Market Size in 2019: | USD 3.5 Billion |
| Forecast Period: | 2020 to 2026 |
| Forecast Period 2020 to 2026 CAGR: | 18% |
| 2026 Value Projection: | USD 12 Billion |
| Historical Data for: | 2016 to 2018 |
| No. of Pages: | 220 |
| Tables, Charts & Figures: | 291 |
| Segments covered: | Component, Application, End-Use and Region |
| Growth Drivers: |
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Frequently Asked Questions (FAQ) :
Facial Recognition Market Scope
