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
For discount/customization and buying a particular chapter, write to us at sales@bizwitresearch.com
Global Facial Recognition Market valued approximately USD XXX billion in 2016 is forecasted to grow with a healthy growth rate of more than XX% over the forecast period 2018-2025. The major factors speculated to augment the markets 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.
The regional analysis of Global Facial Recognition Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North American region is the leading region across the world in terms of market share. Whereas, owing to countries viz. India, Indonesia, China, and Japan, the Asia Pacific region is expected to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Technology:
- 2D
- 3D
- Facial Analytics
By Application:
- Financial Services & Banking
- Homeland Security
- Government
- Retail
- Military
- Others
By Regions:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 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.
Target Audience of the Facial Recognition Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers
- Investors
The research for Global Facial Recognition Market focuses deeply on the entire value chain of the market. However, the market size estimates are purely based on the consumer side of the value chain wherein the market sizes have been calculated by analyzing the average demand for Facial Recognition across various applications.
The revenue for Global Facial Recognition Market is calculated as sum market sizes of different segments such as technology, application, and regions. Further, some other key data points considered to calculate the revenue for Global Facial Recognition Market includes:
- Revenues from key companies
- Key company market share analysis
- Consumer spending analysis
- Regional export and import analysis
- Sales revenue generated by various applications in different geographies
An extensive primary and secondary research has been conducted on key industry people, through questionnaires, telephonic conversations, email conversations, and interviews to verify the market estimations. Various government websites/portals and paid data sources are considered as a key source of secondary research.
We utilize a combination of bottom-up & top-down methodology for market estimations & forecasts. Additionally, we employ data triangulation techniques to verify each of the market estimates and forecasts through primary interviews and feedbacks.
All the estimates are derived from simulation models which is our proprietary technique. Each of these models is different from each other are a combination of correlation, regression and time series analysis. Each of these models is basically divided into two types namely economic and technological. Economical models are used to determine short-term market estimates and technological models are used for long-term estimates & forecasts.