According to Goldstein Market Intelligence latest report, global facial recognition market is expected to reach USD 9.75 billion by 2024, growing at a CAGR of 14.0% over the forecast period through 2024. The growing demand of surveillance and security system majorly from the civil government sectors on the back of rising criminal cases is driving the growth of global facial recognition market.
Government sector accounted for largest market share for the application of facial recognition system. It is followed by enterprise sector, witnessing increasing installation of facial recognition system for tracking and monitoring purpose. Global facial recognition market is largely dominated by North America with 45.5% market share in 2016 on the back of improving criminal investigation. Further, Asia-Pacific region is expected to grow at a CAGR of 14.6% over the forecast period.
Analysts at Goldstein Research also reveal that facial analytics is one of the newest trends that will gain traction in the facial recognition market in the coming years. It provides high level security in both public as well as private sectors such as homeland security and criminal investigation.
The Report is Available @ https://www.goldsteinresearch.com/report/global-facial-recognition-market
Global Facial Recognition Market has been segmented as follows:
Training & Consulting Service
Cloud Based Facial Recognition Services
Facial recognition software and Software Development Kit (SDK)
Modeling and restructuring
Attendance tracking and monitoring
Others (robotics and eLearning)
Banking, Financial services, and Insurance
Other end-users (casinos, public places, automotive, mobile application, and home security systems)
North America (US, Canada)
Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe)
Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa)
Latin America (Brazil, Mexico and Rest of Latin America)
Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific)
Rest of the World
Global Facial Recognition Market Report by Goldstein Market Intelligence contains detailed overview of the global facial recognition market.
Further, it encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Aware, NEC Corporation, Ayonix Corp., Cognitec Systems, KeyLemon, nViso, Herta Security, Techno Brain, Neurotechnology, Daon, Animetrics, 3M Company, IDEMIA, Gemalto, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents the global facial recognition market trends along with market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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