Portland, OR -- (SBWIRE) -- 12/28/2017 -- Facial Recognition Market Overview:

Global facial recognition market is expected to grow at a CAGR of around 21% from 2017 to 2025. Facial recognition refers to computer application that can identify an individual by comparing from a digital image or stored record for that person. This system is basically used for security purposes, though there is increasing interest in other areas. This technology has received significant attention as it has potential for wide range of applications related to law enforcement and other enterprises.

Based on component, market is segmented into software tools and services. By technology, market is segmented into facial recognition software and SDK, middleware, databases, modelling & restructuring, and analytical solutions. Based on use case, it is divided into emotion recognition, law enforcement, surveillance & monitoring, and others. By application, it is divided into government, enterprise, and consumer. Geographical breakdown and deep analysis of each of the aforesaid segments is included for North America, Europe, Asia-Pacific, and LAMEA.

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Market Dynamics:

Drivers:

Increased demand of facial recognition technology in various industry verticals such as government and utilities, military, homeland security, retail, banking, financial services and insurance (BFSI), and others
Rising concerns of security have enforced companies to adopt tools such as CCTV recordings which are examined by facial recognition technique, alarm systems, and source-tagging
Restraints:

Interoperability concerns

Market Players:

The top players in the global facial recognition market include 3M Company, NEC Corporation, Animetrics Inc, Safran Group, and Daon Inc, Aware Inc, Nviso, Ayonix, Keylemon, and Cognitec Systems GMBH (Germany).

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MARKET LANDSCAPE

By Component

Software tools
2D Facial Recognition
3D Facial Recognition
Thermal Facial Recognition

By Services

Training & Consulting Service
Cloud-based Facial Recognition Services

By Technology

Facial Recognition Software & SDK (Software Development Kit)
Middleware
Databases
Modeling & Restructuring
Analytics Solutions

By Use Case

Emotion Recognition
Law Enforcement, Surveillance, and Monitoring
Others (Robotics and E-learning)

By Geography

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA