Face Recognition Systems Market Size, Share Analysis, Key Companies, and Forecast To 2028

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Global Face Recognition Systems Market report published by Reports and Data is a comprehensive research report that analyzes revenue growth at global, regional, and country level with an extensive analysis of current and future industry trends pertaining to each segment and sub segment. The report provides key information about market size, market share, market revenue, top companies, sales and distribution channels, current and emerging trends, and overall industry overview.  The report provides an in-depth analysis of the competitive landscape and covers profiling of the key players along with their product portfolios and business strategies.

Key players of the market mentioned in the report are NEC Corporation, Cognitec Systems GmbH, Nuance Communications, Daon Inc., Dell Technologies, Microsoft Corporation, Google LLC, 3M Company, Animetrics Inc, Aware Inc., and Gemalto.

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The research report is an investigative study providing a conclusive view of the Face Recognition Systems business sphere by an in-depth segmentation of the market into key applications, types, and regions.

Based on type, the global market has been segmented into

Application Insights:

On the basis of application, the global face recognition systems market is segmented into access control, emotion recognition, attendance tracking and monitoring, web application, business intelligence, photo indexing and sorting, and others. The access control segment accounted for largest market revenue share in 2020. This is due to a rising number of companies focusing on enhancing their access control systems. Several companies have already announced integration of liveness detection capabilities into their physical access control systems based on facial recognition.

The security and surveillance segment is expected to register a significant CAGR over the forecast period due to the adoption of face recognition technology at high-security premises. For instance, airports are increasingly deploying facial recognition technology at security checkpoints as people are less likely to commit crimes when they are being monitored through security systems.

Regional Insights:

Based on regional analysis, the face recognition systems market in Asia-Pacific is expected to register significant revenue growth over the forecast period due to the proliferation of smart devices, rising disposable income, and growth of the e-commerce sector in the region.

The face recognition systems market in North America accounted for largest revenue share in 2020 due to the presence of robust digital infrastructure in the region, growing focus by the US government to enhance homeland security, and growth of end-use industry verticals. Further, growth of the North American market is expected to be supported by various strategic initiatives adopted by leading market players, such as Microsoft Corporation and Nuance Communications.

Regional analysis offers comprehensive assessment of market scope and revenue growth in five major geographical regions including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report also offers insights into key market drivers, restraints, challenges, limitations, and emerging growth opportunities in the region.

Increasing innovation and development in the information and communication technology has significantly contributed to revenue growth of the market. End-use industries and companies are leveraging advanced technologies and digital platforms to gain a competitive edge over other players. Information and communication technology broadly covers communication devices, satellite systems, and enterprise software among others. Penetration of digital applications and paradigm shift towards video conferencing and distance learning, especially during the COVID-19 pandemic has accelerated revenue growth of the market. Increasing investment to develop advanced IT infrastructure have increased reliance of companies on ICT industry have further contributed to revenue growth of the market in the recent past. ICT industry is expected to register robust revenue growth over the forecast period of 2021-2028.

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Key Points Addressed in the Report:

  • Analysis of current and emerging trends that are expected to influence growth of the market in the forecast period
  • In-depth analysis of drivers and constraints for better understanding of the market
  • Comprehensive analysis of the market including drivers, restraints, risks and opportunities
  • Strategic recommendations to the new entrants as well as established players to formulate informed business decisions

Overview of the TOC of the Report:

  • Introduction, Scope, and Overview
  • Opportunities, Risks, and Drivers
  • Competition landscape analysis with sales, revenue, and price
  • Extensive Profiling of the key competitors with the sales figures, revenue, and market share
  • Regional analysis with sales, revenue, and market share for each region for the forecast period
  • Country-wise analysis of the Face Recognition Systems market by type, application, and manufacturers
  • Market Segmentation based on types
  • Market segmentation based on applications
  • Historical and forecast estimation
  • And other chapters.

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