Global Facial Recognition Market is valued USD XXX billion in 2016 is anticipated to grow USD XXX billion with the compounded annual growth of XX% over the forecast period 2018-2025.
New York 16 Aug 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Facial Recognition market industry is poised to raise USD XXX billion by 2025. The major factors expected to augment the market are growing security requirements in government sectors for employee attendance and identification. Facial recognition is a biometric technology which provides high-level security for public and private sectors. It considers selected facial features and compares them with a database to provide authorization. Facial recognition system includes software, readers, and related database for providing accuracy along with security.
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Global Facial Recognition Market Size Study By Technology (2D, 3D, and Facial Analytics), Application (Financial Services & Banking, Homeland Security, Government, Retail, Military, and Others), and By Regional (North America, Europe, Asia Pacific, Latin America, and Rest of the World) Forecasts, 2018-2025
The industry is seeming to be fairly competitive. Some of the leading market players include NEC Corporation, 3M Cogent, Aware Inc., Animetrics Inc., Precise Biometrics, Aurora Computer Services Ltd., Ayonix Inc., Nuance Communications, FaceFirst, Safran Group, and so on. The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- The North American region accounted for the leading market share, more than XX % of the total market in 2016.
- The Asia Pacific region will be the highest growing segment with respect to geographical segmentation, the region is likely to grow by XX% CAGR over the forecast period 2018-2025
Bizwit Research & Consulting LLP has considered following segments for the study:
- Facial Analytics
- Financial Services & Banking
- Homeland Security
- North America
- Asia Pacific
- Latin America
- Rest of the World