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Facial Recognition Market Size, Share & Growth Report | 2031
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Facial Recognition Market Size, Share & Growth Report | 2031

Segments - Facial Recognition Market by Technologies (2D, 3D, and Facial Analytics), Applications (Access Control and Security & Surveillance), End-users (Retail & E-commerce, Media & Entertainment, Automobile & Transportation, Telecommunication & IT, Government, Healthcare, and Others), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2023-2031

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Author : Raksha Sharma
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Editor : Shruti Bhat

Upcoming | Report ID :ICT-SE-2879 | 4.1 Rating | 65 Reviews | 222 Pages | Format : PDF Excel PPT

Report Description


Facial Recognition Market Outlook

The Facial Recognition Market size was USD 5.13 Billion in 2022 and is likely to reach USD 18.47 Billion by 2031, expanding at a CAGR of 15.3% during 2023–2031. Facial recognition is a category of biometric security that identifies or confirms an individual’s identity using their face. This system can be used to identify people in photos, videos, or in real time.

Facial recognition is mainly used for the purpose of security and maintaining privacy. It does not depend on a massive database to determine someone’s identity, but simply identifies and recognizes a person as the sole owner of the device, thus restricting access to others. Apart from unlocking phones, facial recognition can be used for identifying different people in a video. Facial technology varies on the requirement of the user and the components involved in the making of the software technology.

Facial Recognition Market Outlook

  • Upsurge in the demand for phones with face unlock and installed facial recognition software systems is driving the market growth.
  • Increasing investments by the government and defense sector in facial recognition boosts the market growth.
  • Adoption of surveillance technologies and rising demand for facial recognition in solving criminal investigations drives the growth of the market.
  • Problems in countering legal risks due to security and privacy issues can restrict the market growth.
  • The possibility of false matches through facial recognition in the defense sector is a restraint for the market growth.
  • Preference for cloud based facial technologies and highly advanced facial recognition modelling and restructuring poses as a lucrative opportunity for the market.

Scope of Facial Recognition Market Report

The report on the global facial recognition market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Facial Recognition Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016 -2021

Forecast Period

2023–2031

Segmentation

Technologies (2D, 3D, and Facial Analytics), Applications (Access Control and Security & Surveillance), End-users (Retail & E-commerce, Media & Entertainment, Automobile & Transportation, Telecommunication & IT, Government, Healthcare, and Others)

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Key Players Covered in the Report

Aware, Inc., Ayonix Corporation, Cognitec Systems GmbH, FacePhi; Fujitsu, Gemalto NV, NEC Corporation, and Onfido.

Facial Recognition Market Segment Insights

3D segment led the market in 2020

Based on technologies, the facial recognition market can be segmented into 2D, 3D, and facial analytics. The 3D segment generated significant revenue in the market due to the advent of advanced technologies such as cloud-based software systems, which shifted user preference toward this segment. The accuracy provided by 3D technology encourages the deployment of this type of technology for the purpose of public safety including border protection and security. 3D technology is also used by the defense sector for criminal investigations due to its accuracy.

Additionally, the facial analytics segment held a substantial market share due to the descriptive analysis of the image. Facial analytics allows the user to understand where a face exists in a video or an image and also provides the characteristics of the face. Facial analytics provide high accuracy and detection efficiency, which results in the use of this technology in education, retail, healthcare, and research.

Facial Recognition Market Technologies

Rising corporate focus on enhancement drives the access control segment

On the basis of applications, the market can be bifurcated into access control and security & surveillance. The access control segment is projected to exhibit a significant growth rate due to rising focus of the companies on enhancing their access control systems. The security and surveillance segment is also estimated to register a significant CAGR during the forecast period due to increasing use of facial recognition in the security and surveillance department of nations and the rising government expenditure on the maintenance of public safety.

Additionally, business owners prefer installing facial recognition systems for security purposes when the people arrive at their offices or stores or workplaces. The rising security concerns also compels the government to install facial recognition in airports for the purpose of national safety.

Increasing adoption of facial recognition drives the retail & e-commerce segment

In terms of end-users, the market can be classified into retail & e-commerce, media & entertainment, automobile & transportation, telecommunication & IT, government, healthcare, and others. The retail and e-commerce segment dominated the market in 2020 due to the adoption of facial recognition among the key retailers to ensure enhancement of operational efficiency and in-store experience. Previously customers have to make payments through online payment modes or cash which required electronic hardware items such as POS terminal systems.

However, the requirement for hardware is eliminated as shoppers can quickly scan the code and pay the bill quickly, which results in a user-friendly and cashless transaction. Additionally, a unique authentication service is also provided that identifies and recognises faces from user database with advanced computer vision-based machine learning algorithms.

facial recognition market End users

North America to dominate the global market

On the basis of regions, the global facial recognition market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America constituted a significant share of the market in 2020 due to mergers and acquisitions conducted by key market players. Moreover, increase in R&D spending by the companies to integrate facial recognition technologies in various departments like healthcare, homeland security, and education and growing technological advancements in the US are driving the market in North America.

The market in Asia Pacific is projected to expand at a significant CAGR during the forecast period due to growing R&D expenditure and government initiatives in the field of information technology.

Facial Recognition Market Region

Segments

By Technologies

  • 2D
  • 3D
  • Facial Analytics

By Applications

  • Access Control
  • Security & Surveillance

By End-users

  • Retail & E-commerce
  • Media & Entertainment
  • Automobile & Transportation
  • Telecommunication & IT
  • Government
  • Healthcare
  • Others

By Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

Competitive Landscape

Key players in the global facial recognition market include Aware, Inc., Ayonix Corporation, Cognitec Systems GmbH, FacePhi; Fujitsu, Gemalto NV, NEC Corporation, and Onfido. These players are actively engaged in several market development strategies such as collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to strengthen their geographical presence and increase their market share.

facial recognition market Keyplayers

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Facial Recognition Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Facial Recognition Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Facial Recognition Market - Supply Chain
  4.5. Global Facial Recognition Market Forecast
     4.5.1. Facial Recognition Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Facial Recognition Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Facial Recognition Market Absolute $ Opportunity
5. Global Facial Recognition Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Facial Recognition Market Size and Volume Forecast by Applications
     5.3.1. Access Control Security & Surveillance
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Facial Recognition Market Analysis and Forecast by End Users
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by End Users
     6.2.2. Y-o-Y Growth Projections by End Users
  6.3. Facial Recognition Market Size and Volume Forecast by End Users
     6.3.1. Retail & E-commerce Media & Entertainment Automobile & Transportation Telecommunication & IT Government  &a
  6.4. Absolute $ Opportunity Assessment by End Users
  6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Facial Recognition Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Facial Recognition Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Facial Recognition Demand Share Forecast, 2019-2026
8. North America Facial Recognition Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Facial Recognition Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Facial Recognition Market Size and Volume Forecast by Applications
     8.4.1. Access Control Security & Surveillance
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. North America Facial Recognition Market Size and Volume Forecast by End Users
     8.7.1. Retail & E-commerce Media & Entertainment Automobile & Transportation Telecommunication & IT Government  &a
  8.8. Basis Point Share (BPS) Analysis by End Users
  8.9. Y-o-Y Growth Projections by End Users
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Facial Recognition Demand Share Forecast, 2019-2026
9. Latin America Facial Recognition Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Facial Recognition Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Facial Recognition Market Size and Volume Forecast by Applications
     9.4.1. Access Control Security & Surveillance
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Latin America Facial Recognition Market Size and Volume Forecast by End Users
     9.7.1. Retail & E-commerce Media & Entertainment Automobile & Transportation Telecommunication & IT Government  &a
  9.8. Basis Point Share (BPS) Analysis by End Users
  9.9. Y-o-Y Growth Projections by End Users
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Facial Recognition Demand Share Forecast, 2019-2026
10. Europe Facial Recognition Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Facial Recognition Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Facial Recognition Market Size and Volume Forecast by Applications
     10.4.1. Access Control Security & Surveillance
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Europe Facial Recognition Market Size and Volume Forecast by End Users
     10.7.1. Retail & E-commerce Media & Entertainment Automobile & Transportation Telecommunication & IT Government  &a
  10.8. Basis Point Share (BPS) Analysis by End Users
  10.9. Y-o-Y Growth Projections by End Users
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Facial Recognition Demand Share Forecast, 2019-2026
11. Asia Pacific Facial Recognition Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Facial Recognition Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Facial Recognition Market Size and Volume Forecast by Applications
     11.4.1. Access Control Security & Surveillance
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Asia Pacific Facial Recognition Market Size and Volume Forecast by End Users
     11.7.1. Retail & E-commerce Media & Entertainment Automobile & Transportation Telecommunication & IT Government  &a
  11.8. Basis Point Share (BPS) Analysis by End Users
  11.9. Y-o-Y Growth Projections by End Users
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Facial Recognition Demand Share Forecast, 2019-2026
12. Middle East & Africa Facial Recognition Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Facial Recognition Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Facial Recognition Market Size and Volume Forecast by Applications
     12.4.1. Access Control Security & Surveillance
  12.5. Basis Point Share (BPS) Analysis by Applications
  12.6. Y-o-Y Growth Projections by Applications
  12.7. Middle East & Africa Facial Recognition Market Size and Volume Forecast by End Users
     12.7.1. Retail & E-commerce Media & Entertainment Automobile & Transportation Telecommunication & IT Government  &a
  12.8. Basis Point Share (BPS) Analysis by End Users
  12.9. Y-o-Y Growth Projections by End Users
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Facial Recognition Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Facial Recognition Market: Market Share Analysis
  13.2. Facial Recognition Distributors and Customers
  13.3. Facial Recognition Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Aware, Inc Ayonix Corporation Cognitec Systems GmbH FacePhi Fujitsu Gemalto NV  

Methodology

Our Clients

FedEx Logistics
General Mills
Nestle SA
Pfizer
Dassault Aviation
Honda Motor Co. Ltd.
Deloitte
General Electric