Facial Recognition Market

According to Inkwood Research, the global facial recognition market is projected to garner a revenue share of $11.94 billion by 2028, growing at a CAGR of 14.41% across the forecast years. The base year considered for the market study is 2018, and the forecast years are 2019 to 2028. Facial recognition systems entail a facial scanner that captures an individual’s distinguishing facial features, such as the distance between their eyes, the width of their nose, and the length of their jawline, which are then stored in a database.

GLOBAL FACIAL RECOGNITION MARKET FORECAST 2019-2028

Global Facial Recognition Market by Technology (3d Facial Recognition, 2d Facial Recognition, Facial Analytics) by End-user (Security and Law Enforcement, Healthcare, Retail, Other End-users) and by Geography.

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Report Summary

According to Inkwood Research, the global facial recognition market is projected to garner a revenue share of $11.94 billion by 2028, growing at a CAGR of 14.41% across the forecast years. The base year considered for the market study is 2018, and the forecast years are 2019 to 2028.

Facial recognition systems entail a facial scanner that captures an individual’s distinguishing facial features, such as the distance between their eyes, the width of their nose, and the length of their jawline, which are then stored in a database.
Facial Recognition Market

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Key market drivers of the global facial recognition market:

  • Growing need for surveillance systems to enhance safety and security
    • As security attacks become more sophisticated and pervasive, companies, organizations, and governments across the world are investing in the latest biometric technologies. These systems are responsible for measuring an individual’s unique physical features, such as facial characteristics.
    • Several airports in the United States are utilizing facial recognition software for international travelers, to replace the use of boarding passes and passports.
  • Increasing adoption of facial recognition in the consumer electronics sector
  • Technological advancements in recognition systems

Major restraining factors of the global facial recognition market:

  • Privacy issues
    • Consumers often refrain from opting for privacy-oriented solutions, and governments across the world are regulating data usage without the consent of consumers. As a result, data storage is restricted, and enterprises cannot form datasets to enhance their offerings. Thus, growing consumer data privacy concerns are influencing the market’s growth.
    • Apart from regulations, government authorities in support of consumers are particularly prohibiting the adoption of technologies that infringe upon their right to maintain data privacy. For instance, in May 2019, San Francisco voted in favor of banning facial recognition technology and signed the anti-surveillance ordinance.
  • High error rates
  • Lack of established international standards

The report on the global facial recognition market includes the segmentation analysis on the basis of technology and end-user.

Market by Technology

  • 3D Facial Recognition
    • 3D facial recognition technology holds a prominent share in the market.
    • Mobile devices use 3D facial recognition technology as a standard for authenticating users. These technological advances are already established by companies such as Apple, Google Pixel, and Samsung.
  • Facial Analytics
    • Facial Analytics is expected to be the fastest-growing technology by 2028.
    • Facial analytics analyses the face in terms of sex, age-group, expression, etc. It can also help procure detailed information about patients in a hospital or a customer that visits the store.
    • In December 2019, ISS demonstrated a Secure OS Face X facial recognition solution with analytics capabilities.
  • 2D Facial Recognition

Geographically, the global facial recognition market has been segmented on the basis of four major regions, which include:

  • North America: The United States and Canada
    • North America dominated the global market in 2019.
    • Several North American Free Trade Agreement (NAFTA) participant banks have mandated the use of facial and voice recognition technologies, for online identity verification. Companies are also collaborating with federal governments to implement the technology for surveillance and identity management.
  • Europe: The United Kingdom, Belgium, Germany, France, Italy, Russia, Poland, and Rest of Europe
  • Asia Pacific: China, Japan, India, South Korea, Indonesia, Thailand, Vietnam, Australia & New Zealand, and Rest of Asia Pacific
    • Asia Pacific is expected to be the fastest-growing region during the forecast period.
    • Government biometric-based projects such as, National ID Program, Biometric Passports and Visas, and Biometric Driver’s License are expected to create numerous opportunities in the facial recognition market in the upcoming years.
  • Middle East & Africa: Saudi Arabia, Turkey, The United Arab Emirates, Egypt, Syria, Iraq, South Africa, and Rest of the Middle East & Africa
  • Latin America: Brazil, Mexico, Argentina, and Rest of Latin America

Eminent companies operating in the global facial recognition market are:

  • Crossmatch
  • NEC Corporation
  • Cognitec Systems GmbH
  • 3M
  • FaceFirst Inc
  • Others

Key strategies adopted companies in the global facial recognition market:

In February 2018, IDEMIA announced its partnership with Pmd Technologies and Infineon to generate a solution for systems integrators and OEMs to develop the rising trend of 3D facial recognition. In February 2019, facial recognition software was introduced by Caxia Bank ATMs for the withdrawal of money through the partnership between Facephi and Fujitsu.

Major trends of the global facial recognition market:

  • The integration of facial biometrics in smart cards provides market growth opportunities.
  • Under the end-user category, the retail segment is estimated to grow with the highest CAGR of xx% during the forecast period.
  • Security and law enforcement segment harbors the largest market share among other end-users.

 

Frequently Asked Questions & Answers (FAQ):

  • What are the government initiatives undertaken for facial recognition by the Asia Pacific region?

    A: In 2018, Singapore’s government announced the creation of a centralized biometric system, as a part of its National Digital Identity (NDI) system. The initiative is expected to begin with facial recognition, to enable its use for a variety of services.

  • Which are the top companies operating in the facial recognition Market?

     A: 3M, Cognitec Systems GmbH, NEC Corporation, FaceFirst, Inc., Nuance Communications Inc, are among the top companies in the market.

  • Which region presents lucrative investment opportunities for the facial recognition market?

     A: The Asia Pacific presents lucrative opportunities for investment in the global facial recognition market.

Table of Contents

  1. RESEARCH SCOPE & METHODOLOGY
    • STUDY OBJECTIVES
    • SCOPE OF STUDY
    • METHODOLOGY
    • ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    • MARKET SIZE & ESTIMATES
    • MARKET OVERVIEW
  3. MARKET DYNAMICS
    • MARKET DEFINITION
    •    KEY DRIVERS
      • GROWING NEED FOR SURVEILLANCE SYSTEMS TO ENHANCE SAFETY AND SECURITY
      • INCREASING ADOPTION OF FACIAL RECOGNITION IN CONSUMER ELECTRONICS SECTOR
      • TECHNOLOGY ADVANCEMENTS IN RECOGNITION SYSTEMS
    •    KEY RESTRAINTS
      • PRIVACY ISSUES
      • HIGH ERROR RATES
      • LACK OF ESTABLISHED INTERNATIONAL STANDARDS
  1. KEY ANALYTICS
    • KEY INVESTMENT INSIGHTS
    •    PORTER’S FIVE FORCE ANALYSIS
      • BUYER POWER
      • SUPPLIER POWER
      • SUBSTITUTION
      • NEW ENTRANTS
      • INDUSTRY RIVALRY
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
  2. MARKET BY TECHNOLOGY
    • 3D FACIAL RECOGNITION
    • 2D FACIAL RECOGNITION
    • FACIAL ANALYTICS
  3. MARKET BY END-USER
    • SECURITY AND LAW ENFORCEMENT
    • HEALTHCARE
    • RETAIL
    • OTHER END-USERS
  4. GEOGRAPHICAL ANALYSIS
    •    NORTH AMERICA
      • UNITED STATES
      • CANADA
    •    EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • ITALY
      • RUSSIA
      • BELGIUM
      • POLAND
      • REST OF EUROPE
    •    ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • INDONESIA
      • THAILAND
      • VIETNAM
      • AUSTRALIA & NEW ZEALAND
      • REST OF ASIA PACIFIC
    •    MIDDLE EAST & AFRICA
      • SAUDI ARABIA
      • TURKEY
      • UNITED ARAB EMIRATES
      • EGYPT
      • SYRIA
      • IRAQ
      • SOUTH AFRICA
      • REST OF MIDDLE EAST & AFRICA
    •    LATIN AMERICA
      • BRAZIL
      • ARGENTINA
      • MEXICO
      • REST OF LATIN AMERICA
  1. COMPANY PROFILES
    • 3M
    • COGNITEC SYSTEMS GMBH
    • NEC CORPORATION
    • FACEFIRST INC
    • NUANCE COMMUNICATIONS INC
    • CROSSMATCH
    • ANIMETRICS INC
    • DAON INC
    • PANASONIC CORPORATION
    • GEMALTO NV (THALES GROUP)
    • AWARE INC
    • FACEPHI BIOMETRIC SA
    • AYONIX CORPORATION
    • IDEMIA FRANCE SAS
    • FUJITSU

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – FACIAL RECOGNITION

TABLE 2: GLOBAL FACIAL RECOGNITION MARKET, BY TECHNOLOGY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 3: GLOBAL FACIAL RECOGNITION MARKET, BY TECHNOLOGY, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 4: GLOBAL 3D FACIAL RECOGNITION MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 5: GLOBAL 3D FACIAL RECOGNITION MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 6: GLOBAL 2D FACIAL RECOGNITION MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 7: GLOBAL 2D FACIAL RECOGNITION MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 8: GLOBAL FACIAL ANALYTICS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 9: GLOBAL FACIAL ANALYTICS MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 10: GLOBAL FACIAL RECOGNITION MARKET, BY END-USER, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 11: GLOBAL FACIAL RECOGNITION MARKET, BY END-USER, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 12: GLOBAL SECURITY AND LAW ENFORCEMENT MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 13: GLOBAL SECURITY AND LAW ENFORCEMENT MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 14: GLOBAL HEALTHCARE MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 15: GLOBAL HEALTHCARE MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 16: GLOBAL RETAIL MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 17: GLOBAL RETAIL MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 18: GLOBAL OTHER END-USERS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 19: GLOBAL OTHER END-USERS MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 20: GLOBAL FACIAL RECOGNITION MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 21: GLOBAL FACIAL RECOGNITION MARKET, BY GEOGRAPHY, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 22: NORTH AMERICA FACIAL RECOGNITION MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 23: NORTH AMERICA FACIAL RECOGNITION MARKET, BY COUNTRY, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 24: EUROPE FACIAL RECOGNITION MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 25: EUROPE FACIAL RECOGNITION MARKET, BY COUNTRY, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 26: ASIA PACIFIC FACIAL RECOGNITION MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 27: ASIA PACIFIC FACIAL RECOGNITION MARKET, BY COUNTRY, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 28: MIDDLE EAST & AFRICA FACIAL RECOGNITION MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 29: MIDDLE EAST & AFRICA FACIAL RECOGNITION MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 30: LATIN AMERICA FACIAL RECOGNITION MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 31: LATIN AMERICA FACIAL RECOGNITION MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

LIST OF FIGURE

FIGURE 1: KEY INVESTMENT INSIGHTS

FIGURE 2: PORTER’S FIVE FORCE ANALYSIS

FIGURE 3: OPPORTUNITY MATRIX

FIGURE 4: VENDOR LANDSCAPE

FIGURE 5: GLOBAL FACIAL RECOGNITION MARKET, GROWTH POTENTIAL, BY TECHNOLOGY, IN 2019

FIGURE 6: GLOBAL FACIAL RECOGNITION MARKET, BY 3D FACIAL RECOGNITION, 2019-2028 (IN $ MILLION)

FIGURE 7: GLOBAL FACIAL RECOGNITION MARKET, BY 2D FACIAL RECOGNITION, 2019-2028 (IN $ MILLION)

FIGURE 8: GLOBAL FACIAL RECOGNITION MARKET, BY FACIAL ANALYTICS, 2019-2028 (IN $ MILLION)

FIGURE 9: GLOBAL FACIAL RECOGNITION MARKET, GROWTH POTENTIAL, BY END-USER, IN 2019

FIGURE 10: GLOBAL FACIAL RECOGNITION MARKET, BY SECURITY AND LAW ENFORCEMENT, 2019-2028 (IN $ MILLION)

FIGURE 11: GLOBAL FACIAL RECOGNITION MARKET, BY HEALTHCARE, 2019-2028 (IN $ MILLION)

FIGURE 12: GLOBAL FACIAL RECOGNITION MARKET, BY RETAIL, 2019-2028 (IN $ MILLION)

FIGURE 13: GLOBAL FACIAL RECOGNITION MARKET, BY OTHER END-USERS, 2019-2028 (IN $ MILLION)

FIGURE 14: NORTH AMERICA FACIAL RECOGNITION MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 15: UNITED STATES FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 16: CANADA FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 17: EUROPE FACIAL RECOGNITION MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 18: UNITED KINGDOM FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 19: GERMANY FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 20: FRANCE FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 21: ITALY FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 22: RUSSIA FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 23: BELGIUM FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 24: POLAND FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 25: REST OF EUROPE FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 26: ASIA PACIFIC FACIAL RECOGNITION MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 27: CHINA FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 28: JAPAN FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 29: INDIA FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 30: SOUTH KOREA FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 31: INDONESIA FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 32: THAILAND FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 33: VIETNAM FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 34: AUSTRALIA & NEW ZEALAND FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 35: REST OF ASIA PACIFIC FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION

FIGURE 36: MIDDLE EAST & AFRICA FACIAL RECOGNITION MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 37: SAUDI ARABIA FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 38: TURKEY FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 39: UNITED ARAB EMIRATES FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 40: EGYPT FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 41: SYRIA FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 42: IRAQ FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 43: SOUTH AFRICA FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 44: REST OF MIDDLE EAST & AFRICA FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 45: LATIN AMERICA FACIAL RECOGNITION MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 46: BRAZIL FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 47: ARGENTINA FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 48: MEXICO FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

FIGURE 49: REST OF LATIN AMERICA FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)

Segmentation

  1. MARKET BY TECHNOLOGY
    • 3D FACIAL RECOGNITION
    • 2D FACIAL RECOGNITION
    • FACIAL ANALYTICS
  2. MARKET BY END-USER
    • SECURITY AND LAW ENFORCEMENT
    • HEALTHCARE
    • RETAIL
    • OTHER END-USERS
  3. GEOGRAPHICAL ANALYSIS
    •    NORTH AMERICA
      • UNITED STATES
      • CANADA
    •    EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • ITALY
      • RUSSIA
      • BELGIUM
      • POLAND
      • REST OF EUROPE
    •    ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • INDONESIA
      • THAILAND
      • VIETNAM
      • AUSTRALIA & NEW ZEALAND
      • REST OF ASIA PACIFIC
    •    MIDDLE EAST & AFRICA
      • SAUDI ARABIA
      • TURKEY
      • UNITED ARAB EMIRATES
      • EGYPT
      • SYRIA
      • IRAQ
      • SOUTH AFRICA
      • REST OF MIDDLE EAST & AFRICA
    •    LATIN AMERICA
      • BRAZIL
      • ARGENTINA
      • MEXICO
      • REST OF LATIN AMERICA

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