Press Release
Global Facial Recognition Market is Estimated to Reach $15.4 Billion by 2024, Says Variant Market Research
 Published Date:  Dec 2017  Publish By: Variant Market Research

Global Facial Recognition Market Report, published by Variant Market Research, forecast that the global market is expected to reach $15.4 Billion by 2024 from $3.3 Billion in 2016; growing at a CAGR of 21.4% from 2016 to 2024. A facial recognition system is a biometric technology of verifying or identifying an individual from a digital image or a video frame from a video source. It is typically executed by comparing selected facial features from the image and a face database.

Facial Recognition Market (By Component: Hardware and Software; By Technology: 2D Facial Recognition, 3D Facial Recognition, and Facial Analytics; By Application: Homeland Security, Criminal Investigation, ID Management, Physical Security, Intelligent Signage, Web Application, Business Intelligence, Photo Indexing and Sorting, and Other Application: By Geography: North America, Europe, Asia-Pacific and Row) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015 – 2024

To browse the complete report, visit at https://www.variantmarketresearch.com/report-categories/information-communication-technology/facial-recognition-market

The global facial recognition market is mainly boosted by rising demand for improved surveillance and monitoring at public places

Rising demand for improved surveillance, monitoring at public places and increased use of facial recognition technologies in government and defense sectors are the major aspect driving the growth of global facial recognition market. However, high implementation cost and lack of accuracy are the major restraints for the market growth. Moreover, upsurge in application of this technology in smart phones, tablets, and laptops for commercial and personal purposes is expected to generate numerous growth opportunities for the market in the forecast timeframe.

Market Segmentation

Component, technology, application and geography are the major segments considered in the global facial recognition market. Component segment includes hardware and software. Technology segment is sub-segmented into 2D facial recognition, 3D facial recognition, and facial analytics. The application segment is further categorized into homeland security, criminal investigation, ID management, physical security, intelligent signage, web application, business intelligence, photo indexing and sorting, and other application (VIP recognition, automotive and phone, PC and banking login).

The country wise analysis has been also covered under the scope of the report. North America covers the U.S., Canada, and Mexico. Russia, Germany, Italy, France, UK, and Rest of Europe are analyzed under the European market. China, Japan, India, South Korea, and Rest of Asia-Pacific are included under the Asia-Pacific market. While RoW is bifurcated into South America, Middle East, and Africa.

Software, by component is likely to grow with fastest CAGR from 2016 – 2024

Global Facial Recognition Market, by Component
Global Facial Recognition Market is estimated to reach $15.4 billion by 2024; growing at a CAGR of 21.4% from 2016 to 2024.

Software is expected to grow with fastest CAGR in the component segment during the forecast period 2016 – 2024. Moreover, hardware dominated the component segment with largest market share in 2016.

3D facial recognition held for the major market share in technology segment in 2016

Global Facial Recognition Market, by Technology
Global Facial Recognition Market is estimated to reach $15.4 billion by 2024; growing at a CAGR of 21.4% from 2016 to 2024.

3D facial recognition accounted for the leading share in 2016, in the technology segment and is expected to continue its trend during the forecast period 2016 – 2024. The high growth is attributed to its high accuracy compared to 2D facial recognition in terms of recognizing facial features.

Homeland Security lead the application segment in 2016

Global Facial Recognition Market, by Application
Global Facial Recognition Market is estimated to reach $15.4 billion by 2024; growing at a CAGR of 21.4% from 2016 to 2024.

Homeland security dominated the application segment in the year 2016 with highest share. In terms of growth, intelligent signage is likely to grow with fastest CAGR during the forecast period owing to its growing worries of security and use of marketing tactics to analyze the clients based on their gender, age, and other facial attributes.

North America occupied the largest share in the global facial recognition market

GLOBAL FACIAL RECOGNITION MARKET SHARE BY GEOGRAPHY, 2016 (%)
Global Facial Recognition Market is estimated to reach $15.4 billion by 2024; growing at a CAGR of 21.4% from 2016 to 2024.

In 2016, North America generated the highest revenue accounting for 37.4% of the total market share. In terms of growth Asia-Pacific is expected to attain the fastest CAGR during the forecast period 2016 – 2024, owing to factors such as huge investments from the government sector toward security and surveillance infrastructure, increased public awareness, and mandatory regulations imposed by the government regulatory entities in the region.

Competitive Landscape

Major players operating in the market include 3M, Aware, Inc., NEC Corporation, Cognitec Systems GmbH, Crossmatch, Nuance Communications Inc., International Business Machines Corporation (IBM), FaceFirst, Inc., Daon, and Animetrics Inc., among others.

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Chapter 1 Prefix
    1.1 Market Scope
    1.2 Report Description
    1.3 Research Methodology
          1.3.1 Primary Research
          1.3.2 Secondary Research
          1.3.3 In-house Data Modeling
Chapter 2 Executive Summary
   2.1 Global Facial Recognition Market Year-on-Year Growth, 2016 – 2024 (%)
Chapter 3 Market Outline
    3.1 Market Inclination, Trend, Outlook and Viewpoint
    3.2 Market Share Analysis: Company’s Competitive Scenario
    3.3 Market Dynamics
          3.3.1 Drivers
                   3.3.1.1 Impact Analysis
          3.3.2 Restraints
                   3.3.2.1 Impact Analysis
          3.3.3 Opportunities
Chapter 4 Global Facial Recognition Market by Component: Market Size and Forecast, 2015 – 2024
    4.1 Overview
    4.2 Hardware
          4.2.1 Current Trend and Analysis
          4.2.2 Market Size and Forecast, 2015 – 2024 ($ Billion)
          4.2.3 Market Size and Forecast by Region, 2015 – 2024 ($ Billion)
    4.3 Software
          4.3.1 Current Trend and Analysis
          4.3.2 Market Size and Forecast, 2015 – 2024 ($ Billion)
          4.3.3 Market Size and Forecast by Region, 2015 – 2024 ($ Billion)
Chapter 5 Global Facial Recognition Market by Technology: Market Size and Forecast, 2015 – 2024
    5.1 Overview
    5.2 2D Facial Recognition
          5.2.1 Current Trend and Analysis
          5.2.2 Market Size and Forecast, 2015 – 2024 ($ Billion)
          5.2.3 Market Size and Forecast by Region, 2015 – 2024 ($ Billion)
    5.3 3D Facial Recognition
          5.3.1 Current Trend and Analysis
          5.3.2 Market Size and Forecast, 2015 – 2024 ($ Billion)
          5.3.3 Market Size and Forecast by Region, 2015 – 2024 ($ Billion)
    5.4 Facial Analytics
          5.4.1 Current Trend and Analysis
          5.4.2 Market Size and Forecast, 2015 – 2024 ($ Billion)
          5.4.3 Market Size and Forecast by Region, 2015 – 2024 ($ Billion)
Chapter 6 Global Facial Recognition Market by Application: Market Size and Forecast, 2015 – 2024
    6.1 Overview
    6.2 Homeland Security
          6.2.1 Current Trend and Analysis
          6.2.2 Market Size and Forecast, 2015 – 2024 ($ Billion)
          6.2.3 Market Size and Forecast by Region, 2015 – 2024 ($ Billion)
    6.3 Criminal Investigation
          6.3.1 Current Trend and Analysis
          6.3.2 Market Size and Forecast, 2015 – 2024 ($ Billion)
          6.3.3 Market Size and Forecast by Region, 2015 – 2024 ($ Billion)
    6.4 ID Management
          6.4.1 Current Trend and Analysis
          6.4.2 Market Size and Forecast, 2015 – 2024 ($ Billion)
          6.4.3 Market Size and Forecast by Region, 2015 – 2024 ($ Billion)
    6.5 Physical Security
          6.5.1 Current Trend and Analysis
          6.5.2 Market Size and Forecast, 2015 – 2024 ($ Billion)
          6.5.3 Market Size and Forecast by Region, 2015 – 2024 ($ Billion)
    6.6 Intelligent Signage
          6.6.1 Current Trend and Analysis
          6.6.2 Market Size and Forecast, 2015 – 2024 ($ Billion)
          6.6.3 Market Size and Forecast by Region, 2015 – 2024 ($ Billion)
    6.7 Web Application
          6.7.1 Current Trend and Analysis
          6.7.2 Market Size and Forecast, 2015 – 2024 ($ Billion)
          6.7.3 Market Size and Forecast by Region, 2015 – 2024 ($ Billion)
    6.8 Business Intelligence
          6.8.1 Current Trend and Analysis
          6.8.2 Market Size and Forecast, 2015 – 2024 ($ Billion)
          6.8.3 Market Size and Forecast by Region, 2015 – 2024 ($ Billion)
    6.9 Photo Indexing and Sorting
          6.9.1 Current Trend and Analysis
          6.9.2 Market Size and Forecast, 2015 – 2024 ($ Billion)
          6.9.3 Market Size and Forecast by Region, 2015 – 2024 ($ Billion)
    6.10 Other Applications (Include VIP recognition, automotive and phone, PC & banking login)
          6.10.1 Current Trend and Analysis
          6.10.2 Market Size and Forecast, 2015 – 2024 ($ Billion)
          6.10.3 Market Size and Forecast by Region, 2015 – 2024 ($ Billion)
Chapter 7 Global Facial Recognition Market by Geography: Market Size and Forecast, 2015 – 2024
    7.1 Overview
          7.1.1 Global Facial Recognition Market Year-on-Year Growth, by regions 2016 – 2024 (%)
    7.2 North America
          7.2.1 Current Trend and Analysis
          7.2.2 Market Size and Forecast, 2015 – 2024 ($ Billion)
          7.2.3 US
                   7.2.3.1 Market Size and Forecast, 2015 – 2024 ($ Billion)
          7.2.4 Canada
                   7.2.4.1 Market Size and Forecast, 2015 – 2024 ($ Billion)
          7.2.5 Mexico
                   7.2.5.1 Market Size and Forecast, 2015 – 2024 ($ Billion)
    7.3 Europe
          7.3.1 Current Trend and Analysis
          7.3.2 Market Size and Forecast, 2015 – 2024 ($ Billion)
          7.3.3 UK
                   7.3.3.1 Market Size and Forecast, 2015 – 2024 ($ Billion)
          7.3.4 Russia
                   7.3.4.1 Market Size and Forecast, 2015 – 2024 ($ Billion)
          7.3.5 Germany
                   7.3.5.1 Market Size and Forecast, 2015 – 2024 ($ Billion)
          7.3.6 Italy
                   7.3.6.1 Market Size and Forecast, 2015 – 2024 ($ Billion)
          7.3.7 France
                   7.3.7.1 Market Size and Forecast, 2015 – 2024 ($ Billion)
          7.3.8 Rest of Europe
                   7.3.8.1 Market Size and Forecast, 2015 – 2024 ($ Billion)
    7.4 Asia-Pacific
          7.4.1 Current Trend and Analysis
          7.4.2 Market Size and Forecast, 2015 – 2024 ($ Billion)
          7.4.3 India
                   7.4.3.1 Market Size and Forecast, 2015 – 2024 ($ Billion)
          7.4.4 China
                   7.4.4.1 Market Size and Forecast, 2015 – 2024 ($ Billion)
          7.4.5 Japan
                   7.4.5.1 Market Size and Forecast, 2015 – 2024 ($ Billion)
          7.4.6 South Korea
                   7.4.6.1 Market Size and Forecast, 2015 – 2024 ($ Billion)
          7.4.7 Rest of Asia-Pacific
                   7.4.7.1 Market Size and Forecast, 2015 – 2024 ($ Billion)
    7.5 RoW
          7.5.1 Current Trend and Analysis
          7.5.2 Market Size and Forecast
          7.5.3 Middle East
                   7.5.3.1 Market Size and Forecast, 2015 – 2024 ($ Billion)
          7.5.4 South America
                   7.5.4.1 Market Size and Forecast, 2015 – 2024 ($ Billion)
          7.5.5 Africa
                   7.5.5.1 Market Size and Forecast, 2015 – 2024 ($ Billion)
Chapter 8 Company Profiles
    8.1 Aware, Inc.
    8.2 3M
    8.3 Cognitec Systems GmbH
    8.4 NEC Corporation
    8.5 FaceFirst, Inc.
    8.6 Nuance Communications Inc.
    8.7 Crossmatch
    8.8 International Business Machines Corporation (IBM)
    8.9 Animetrics Inc.
    8.10 Daon
List of Figures
FIG. 1 MARKET SEGMENTATION: GLOBAL FACIAL RECOGNITION MARKET
FIG. 2 GLOBAL FACIAL RECOGNITION MARKET YEAR ON YEAR GROWTH, 2016 - 2024 (%)
FIG. 3 MARKET SHARE ANALYSIS, 2016 (%)
FIG. 4 GLOBAL FACIAL RECOGNITION MARKET SHARE AND FORECAST, BY COMPONENT 2016 Vs 2024 (VALUE %)
FIG. 5 HARDWARE MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 6 SOFTWARE MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 7 GLOBAL FACIAL RECOGNITION MARKET SHARE AND FORECAST, BY TECHNOLOGY 2016 Vs 2024 (VALUE %)
FIG. 8 2D FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 9 3D FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 10 FACIAL ANALYTICS MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 11 GLOBAL FACIAL RECOGNITION MARKET SHARE AND FORECAST, BY APPLICATION 2016 Vs 2024 (VALUE %)
FIG. 12 HOMELAND SECURITY MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 13 CRIMINAL INVESTIGATION MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 14 ID MANAGEMENT MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 15 PHYSICAL SECURITY MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 16 INTELLIGENT SIGNAGE MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 17 WEB APPLICATION MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 18 BUSINESS INTELLIGENCE MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 19 PHOTO INDEXING AND SORTING MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 20 OTHER APPLICATIONS MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 21 GLOBAL FACIAL RECOGNITION MARKET SIZE AND FORECAST BY GEOGRAPHY, 2016 Vs 2024 (REVENUE, CAGR %)
FIG. 22 GLOBAL FACIAL RECOGNITION MARKET YEAR ON YEAR GROWTH, BY REGIONS 2016 – 2024 (%)
FIG. 23 NORTH AMERICA FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 24 NORTH AMERICA FACIAL RECOGNITION MARKET SIZE AND FORECAST BY COUNTRY, 2015 – 2024 ($ BILLION)
FIG. 25 U.S. FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 26 CANADA FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 27 MEXICO FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 28 EUROPE FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024, ($ BILLION)
FIG. 29 EUROPE FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 BY COUNTRY, ($ BILLION)
FIG. 30 UK FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 31 RUSSIA FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 32 GERMANY FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 33 ITALY FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 34 FRANCE FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 35 REST OF EUROPE FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 36 ASIA-PACIFIC FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024, ($ BILLION)
FIG. 37 ASIA-PACIFIC FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 BY COUNTRY ($ BILLION)
FIG. 38 INDIA FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 39 CHINA FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 40 JAPAN FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 41 SOUTH KOREA FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 42 REST OF ASIA-PACIFIC FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 43 REST OF THE WORLD FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 44 REST OF THE WORLD FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 BY COUNTRY ($ BILLION)
FIG. 45 SOUTH AMERICA FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 46 MIDDLE EAST FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
FIG. 47 AFRICA FACIAL RECOGNITION MARKET SIZE AND FORECAST, 2015 – 2024 ($ BILLION)
List of Tables
TABLE 1 GLOBAL FACIAL RECOGNITION MARKET SNAPSHOT
TABLE 2 GLOBAL FACIAL RECOGNITION MARKET SIZE AND FORECAST, BY REGION, 2015 – 2024 ($ BILLION)
TABLE 3 DRIVERS OF THE GLOBAL FACIAL RECOGNITION MARKET: IMPACT ANALYSIS
TABLE 4 RESTRAINTS OF THE GLOBAL FACIAL RECOGNITION MARKET: IMPACT ANALYSIS
TABLE 5 HARDWARE MARKET SIZE AND FORECAST, BY REGIONS, 2015 – 2024 ($ BILLION)
TABLE 6 SOFTWARE MARKET SIZE AND FORECAST, BY REGIONS, 2015 – 2024 ($ BILLION)
TABLE 7 2D FACIAL RECOGNITION MARKET SIZE AND FORECAST, BY REGIONS, 2015 – 2024 ($ BILLION)
TABLE 8 3D FACIAL RECOGNITION MARKET SIZE AND FORECAST, BY REGIONS, 2015 – 2024 ($ BILLION)
TABLE 9 FACIAL ANALYTICS MARKET SIZE AND FORECAST, BY REGIONS, 2015 – 2024 ($ BILLION)
TABLE 10 HOMELAND SECURITY MARKET SIZE AND FORECAST, BY REGIONS, 2015 – 2024 ($ BILLION)
TABLE 11 CRIMINAL INVESTIGATION MARKET SIZE AND FORECAST, BY REGIONS, 2015 – 2024 ($ BILLION)
TABLE 12 ID MANAGEMENT MARKET SIZE AND FORECAST, BY REGIONS, 2015 – 2024 ($ BILLION)
TABLE 13 PHYSICAL SECURITY MARKET SIZE AND FORECAST, BY REGIONS, 2015 – 2024 ($ BILLION)
TABLE 14 INTELLIGENT SIGNAGE MARKET SIZE AND FORECAST, BY REGIONS, 2015 – 2024 ($ BILLION)
TABLE 15 WEB APPLICATION MARKET SIZE AND FORECAST, BY REGIONS, 2015 – 2024 ($ BILLION)
TABLE 16 BUSINESS INTELLIGENCE MARKET SIZE AND FORECAST, BY REGIONS, 2015 – 2024 ($ BILLION)
TABLE 17 PHOTO INDEXING AND SORTING MARKET SIZE AND FORECAST, BY REGIONS, 2015 – 2024 ($ BILLION)
TABLE 18 OTHER APPLICATIONS MARKET SIZE AND FORECAST, BY REGIONS, 2015 – 2024 ($ BILLION)
TABLE 19 NORTH AMERICA FACIAL RECOGNITION MARKET SIZE AND FORECAST, BY COMPONENT, 2015 – 2024 ($ BILLION)
TABLE 20 NORTH AMERICA FACIAL RECOGNITION MARKET SIZE AND FORECAST, BY TECHNOLOGY, 2015 – 2024 ($ BILLION)
TABLE 21 NORTH AMERICA FACIAL RECOGNITION MARKET SIZE AND FORECAST, BY APPLICATION, 2015 – 2024 ($ BILLION)
TABLE 22 EUROPE FACIAL RECOGNITION MARKET SIZE AND FORECAST, BY COMPONENT, 2015 – 2024 ($ BILLION)
TABLE 23 EUROPE FACIAL RECOGNITION MARKET SIZE AND FORECAST, BY TECHNOLOGY, 2015 – 2024 ($ BILLION)
TABLE 24 EUROPE FACIAL RECOGNITION MARKET SIZE AND FORECAST, BY APPLICATION, 2015 – 2024 ($ BILLION)
TABLE 25 ASIA-PACIFIC FACIAL RECOGNITION MARKET SIZE AND FORECAST, BY COMPONENT, 2015 – 2024 ($ BILLION)
TABLE 26 ASIA-PACIFIC FACIAL RECOGNITION MARKET SIZE AND FORECAST, BY TECHNOLOGY, 2015 – 2024 ($ BILLION)SNAPSHOT
TABLE 27 ASIA-PACIFIC FACIAL RECOGNITION MARKET SIZE AND FORECAST, BY APPLICATION, 2015 – 2024 ($ BILLION)
TABLE 28 REST OF THE WORLD FACIAL RECOGNITION MARKET SIZE AND FORECAST, BY COMPONENT, 2015 – 2024 ($ BILLION)
TABLE 29 REST OF THE WORLD FACIAL RECOGNITION MARKET SIZE AND FORECAST, BY TECHNOLOGY, 2015 – 2024 ($ BILLION)
TABLE 30 REST OF THE WORLD FACIAL RECOGNITION MARKET SIZE AND FORECAST, BY APPLICATION, 2015 – 2024 ($ BILLION)
TABLE 31 AWARE, INC.: COMPANY SNAPSHOT
TABLE 32 3M: COMPANY SNAPSHOT
TABLE 33 COGNITEC SYSTEMS GMBH: COMPANY SNAPSHOT
TABLE 34 NEC CORPORATION: COMPANY SNAPSHOT
TABLE 35 FACEFIRST, INC.: COMPANY SNAPSHOT
TABLE 36 NUANCE COMMUNICATIONS INC.: COMPANY SNAPSHOT
TABLE 37 CROSSMATCH: COMPANY SNAPSHOT
TABLE 38 IBM CORPORATION: COMPANY SNAPSHOT
TABLE 39 ANIMETRICS INC.: COMPANY SNAPSHOT
TABLE 40 DAON: COMPANY SNAPSHOT

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