Los Angeles, CA -- (SBWIRE) -- 05/07/2019 -- This report studies the Face Recognition Systems market, a face recognition system is a computer application capable of identifying or verifying a person from a digital image or a video frame from a video source. One of the ways to do this is by comparing selected facial features from the image and a face database.
Currently, the market is primarily driven by robust technological advancements for development of efficient surveillance systems required by civil and government agencies. This is due to rising instances of criminal and terrorist activities and identification of fraud cases across the globe. Moreover, facial recognition systems that can scan images in all environmental conditions are being developed using 3D facial recognition technology. This would help overcome the barriers of 2D facial recognition technology that include light and pose deflections of the object. However, restrictions on users to share their personal details i.e. covert monitoring of an individual, is expected to hinder the market growth. Furthermore, increased adoption of facial recognition in web applications for picture tagging, social interaction, and others is expected to drive the demand for facial recognition in future.
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The global facial recognition market is analyzed on the basis of parameters such as type of technology, end-use industry and geographic regions. Of the different technology types, the 2D facial recognition technology segment contributed a significant revenue share ?about 59.67%? in the global market in 2016. This is due to the adoption and acceptance of 2D facial recognition technology in surveillance, which is primarily due to its low cost and easy installation using existing cameras. The market for 3D facial recognition technology, that offers better and accurate results, is expected to record steady growth as compared to 2D technology. Furthermore, the facial recognition market is witnessing development of facial analytics systems that help generate descriptive metadata about a given face, apart from simple identification. This has resulted in the use of facial recognition technique as both identification and authentication tools.
In 2018, the global Face Recognition Systems market size was 530 million US$ and it is expected to reach 1430 million US$ by the end of 2025, with a CAGR of 13.2% between 2019 and 2025.
This report studies the Face Recognition Systems market size by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
This report focuses on the global top players, covered
Market segment by Regions/Countries, this report covers
Rest of Asia Pacific
Central & South America
Middle East & Africa
Market segment by Type, the product can be split into
2D Face Recognition
3D Face Recognition
Thermal Face Recognition
Market segment by Application, the market can be split into
Law Enforcement, Surveillance, and Monitoring
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The study objectives of this report are:
To study and analyze the global Face Recognition Systems market size (value & volume) by company, key regions/countries, products and application, history data from 2014 to 2018, and forecast to 2025.
To understand the structure of Face Recognition Systems market by identifying its various subsegments.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
Focuses on the key global Face Recognition Systems manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Face Recognition Systems with respect to individual growth trends, future prospects, and their contribution to the total market.
To project the value and volume of Face Recognition Systems submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
In this study, the years considered to estimate the market size of Face Recognition Systems are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
This report includes the estimation of market size for value (million USD) and volume (K sqm). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Face Recognition Systems market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.
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For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Raw material suppliers
Regulatory bodies, including government agencies and NGO
Commercial research & development (R&D) institutions
Importers and exporters
Government organizations, research organizations, and consulting firms
Trade associations and industry bodies
With the given market data, QYResearch offers customizations according to the company's specific needs. The following customization options are available for the report:
Further breakdown of Face Recognition Systems market on basis of the key contributing countries.
Detailed analysis and profiling of additional market players.
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