Global facial recognition market growth expected to be driven by increasing adoption rate of secure system

The global facial recognition market revenue is expected to expand at a lucrative CAGR over the forecast period. Rising need for more secured biometric system and increasing demand for facial recognition system are other major factors expected to boost growth of the global facial recognition market.

The global facial recognition market report has been segmented on the basis of technology, component, and application and regions.

On the basis of technology, the global facial recognition market is segmented into 2D,3D, and facial analytics. The 3D facial recognition is expected to contribute significant share in terms of revenue in the global market. However, the facial analytics facial recognition is estimated to register lucrative CAGR.

On the basis of component, the global facial recognition market is segmented into hardware and software.

On the basis of application, the global facial recognition market is segmented into homeland security, criminal investigation, id management, physical security, intelligent signage, web application, business intelligence and photo indexing & sorting.

On the basis of region, the global facial recognition market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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North America market is expected to dominate in the global market, and is projected to maintain its dominance over the forecast period. This can be attributed to strong infrastructure existing for developing new technologies and growing demand of high end security in countries in the region. Europe market is projected to witness significant growth over the forecast period, and is expected to register a CAGR of X.X%. The global facial recognition markets in Asia Pacific, Latin America and Middle East & Africa are projected to witness moderate growth over the forecast period.

Prominent players in the global facial recognition market include Aware, Inc., NEC Corporation, Ayonix Corp., Cognitec Systems, Key Lemon S.A., nViso Sarl, Herta Security, Techno Brain, Neurotechnology, Daon, Inc. Animetrics, and 3M Company.

About the Author

Michelle Boyd
Michelle does an outstanding job, related to the Health and Medicine background. Having experience of more than 8years, have been working before with other companies related to the same field, been an expert in resolving whatever queries are being approached by the team. She likes to enjoy each and every moment of life.

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