Global Facial Recognition Technology Market Overview:
Facial recognition is becoming one leading technology in the identification industry. Leading technology giants including IBM, Microsoft, Amazon, and many others highly investing in research and development to enhance security. Some of the players profiled in the study are nVviso SA (Switzerland), Daon (United States), Stereovision Imaging (United States), Techno Brain (Kenya), NEC (Japan), Aware (United States), Gemalto (Netherlands), Ayonix (Japan), Idemia (France) and Cognitec (Germany).
On the basis of geography, the market of Facial Recognition Technology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Solution will boost the Facial Recognition Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Verticals, the sub-segment i.e. BFSI will boost the Facial Recognition Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Software, the sub-segment i.e. 2D Facial Recognition will boost the Facial Recognition Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Development in the Surveillance Industry
- Increase Investment from The Government and Défense Sector
- The Rise in Number of Identity Related Frauds and Data Breaches
- Stringent Regulations for Security
- Growing Requirement for Cloud-Based Identity Verification Solutions
- Interoperability Concerns
- High Acceptance Cloud-Based Facial Recognition Technology
- Emergence in Application Related to the Facial Recognition Technology
- Lack of Awareness and Technical Challenges
- Increase in Concern Related to Privacy and Data Breaches
The companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focus on maintaining sustainable development. The players are focusing on securing a leading position in this industry. To meet a high market share, and developing a socially responsible business company is identifying various strategic pillars such as mergers & acquisitions, new product launch, product enhancement, and others.
Target Audience:Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Facial Recognition Technology Providers, Government Regulatory and Research Organizations and End-Use Industries
Major Objectives Focused through this Study To define, describe, and forecast the Global Facial Recognition Technology market on the basis of product  , application [Emotion Recognition, Attendance Tracking and Monitoring, Access Control, Law Enforcement and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Facial Recognition Technology market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Facial Recognition Technology industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Neurotechnology (Lithuania), Innovatrics (Slovakia) and id3 Technologies (France).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Facial Recognition Technology market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.