Authored By: Sarah
07 Sep 2023

Facial Recognition Market | Growth and Analysis
Market Growth and Forecasts for 2021-2025

The facial recognition market and it is expected to grow by $ 3.78 bn, accelerating at a CAGR of almost 12.40% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers to enable growth projections and insights. This analytical examination of the market will enable businesses to plan and set the path for future growth prospects.


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Facial Recognition Market: Market Segments and Key Trends

This report provides a detailed analysis of the market by Application (Identification and Verification), Geography (North America, Europe, APAC, MEA, and South America), Technology (3D facial recognition and 2D facial recognition), and End-user (Government sector, BFSI sector, Transportation sector, and Other sectors). 33% of the market growth will originate from North America during the forecast period. This research report provides a detailed analysis of all the segments, key trends, and challenges that are likely to influence growth.

Facial Recognition Market: What are the Growth Drivers?

The Increasing instances of identity threats is one of the primary factors driving the growth of the facial recognition market. The report provides a detailed study of all the factors that are likely to boost the market. An understanding of the key drivers will enable clients to leverage growth opportunities to their advantage with a view to short-term and long-term business goals.

Facial Recognition Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2021-2025

Facial Recognition Market: Competitive Landscape

The market is fragmented. The research report provides insights into the top market player and their product portfolio along with pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ASSA ABLOY AB, Aware Inc., Cognitec Systems GmbH, Fulcrum Biometrics Inc., IDEMIA, NEC Corp., Precise Biometrics AB, Safran SA, Synaptics Inc., and Thales Group are some of the major market participants.

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Facial Recognition Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive facial recognition market growth during the next five years
  • Precise estimation of the facial recognition market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the facial recognition market industry across North America, Europe, APAC, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of facial recognition market vendors

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerate at a CAGR of almost 12.40%.

     
  2. What is the incremental growth of the market?
    The market is expected to grow by $ 3.78 bn through 2021-2025.

     
  3. What is a key factor driving this market?
    Increasing instances of identity threats will drive market growth over the forecast period.

     
  4. What are the key regions covered in this market research report?
    North America, Europe, APAC, MEA, and South America are the key regions featured in this research report.

     
  5. Which is the leading geographic region for this market:
    33% growth will originate from North America

     
  6. Who are the leading market vendors?
    The leading vendors in this market are ASSA ABLOY AB, Aware Inc., Cognitec Systems GmbH, Fulcrum Biometrics Inc., IDEMIA, NEC Corp., Precise Biometrics AB, Safran SA, Synaptics Inc., and Thales Group

     
  7. What are the market segments covered in this report?
    The market is segmented by Application (Identification and Verification), Geography (North America, Europe, APAC, MEA, and South America), Technology (3D facial recognition and 2D facial recognition), and End-user (Government sector, BFSI sector, Transportation sector, and Other sectors)
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