PUNE, India, November 13, 2017 /PRNewswire/ --
According to a new market research report "Facial Recognition Market by Component (Software Tools and Services), Technology, Use Case (Emotion Recognition, Attendance Tracking and Monitoring, Access Control, Law Enforcement), End-User, and Region - Global Forecast to 2022", published by MarketsandMarkets™, the global Facial Recognition Market is expected to grow from USD 4.05 Billion in 2017 to USD 7.76 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 13.9%.
Browse 82 Market Data Tables and 37 Figures spread through 153 Pages and in-depth TOC on "Facial Recognition Market"
Early buyers will receive 10% customization on this report
The increased need for enhanced surveillance and monitoring at public places and the increased use of facial recognition technologies in industries, such as the government are expected to be driving the Facial Recognition Market growth. Facial recognition technologies are used to minimize the threats associated with terrorism and border securities. The growing need for surveillance at public places is expected to be one of the major factors that drives the growth of the Facial Recognition Market.
Services segment is expected to grow at the highest CAGR during the forecast period
Due to the growing awareness among enterprises about the features of facial recognition technologies and the rising need for a more secured biometric system, the demand for facial recognition system is said to be increasing globally. Facial recognition services play a vital role in face detection and recognition, and comprise training and consulting services and cloud-based facial recognition services. Facial recognition services are offered for governments, homeland security, military, retail, and healthcare.
Ask for PDF Brochure @ http://www.marketsandmarkets.com/pdfdownload.asp?id=995
3D facial recognition technology segment is expected to have the largest market size by the end of the forecast period
The 3D facial recognition technology is independent of illumination, which enables it to capture high-quality images in uncontrolled environments, such as poorly lit and or completely dark areas. The 3D facial recognition model overcomes the drawbacks of the 2D facial recognition technology. The 3D facial recognition technologies have a high potential to analyze, identify, and verify the facial characteristics of individuals. The technologies are also used in application areas, such as cross-border monitoring, document verification, and identity management.
Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period
Factors such as huge investments from the government sector toward security and surveillance infrastructure, increased public awareness, and the emergence of sophisticated technologies backed by analytics are said to be driving the Facial Recognition Market growth in APAC significantly. In addition, a high market growth is anticipated due to the technological advancements and mandatory regulations imposed by the government regulatory entities in the region to adopt the best-in-class technologies and standards.
The Facial Recognition Market report encompasses the competitive landscape, which presents the positioning of the 25 key facial recognition vendors based on their product offerings and business strategies. Some of these major vendors include Aware (US), NEC Corporation (Japan), Ayonix Corp. (Japan), Cognitec Systems (Germany), KeyLemon (Switzerland), nViso (Switzerland), Herta Security (Spain), Techno Brain (Kenya), Neurotechnology (Lithuania), Daon (US), Animetrics (US), 3M Company (US), IDEMIA (France), and Gemalto (Netherlands).
Enquiry Before Buying @ http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=995
Browse Related Reports
Natural Language Processing Market by Type (Rule-Based, Statistical, and Hybrid), Technologies (Recognition, IVR, OCR, Speech Recognition, Text Processing, Pattern & Image Recognition), by Deployment Type, Vertical & by Region - Global Forecast to 2021
Emotion Detection and Recognition Market by Technology (Bio-Sensor, NLP, Machine Learning), Software Tool (Facial Expression, Voice Recognition), Service, Application Area, End User, and Region - Global Forecast to 2021
Know More About our Knowledge Store @ http://www.marketsandmarkets.com/Knowledgestore.asp
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
630 Dundee Road
Northbrook, IL 60062
Visit Our Blog @ http://www.marketsandmarketsblog.com/market-reports/telecom-it
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets