Growing spending on security and surveillance systems across the globe will drive facial recognition market outlook. Facial recognition technology is showcasing immense potential for organisations that handle sensitive data and require strict security controls on who enters their facilities. Facial biometrics is widely integrated with physical devices and instead of using passwords, consumer electronics and mobile phones can now be accessed via facial features of the owner.

All the major mobile phone companies including Samsung, Apple, Xiomi Corp and others offer FaceTech in their phones. Growing security concerns in public places and rise in criminal activities has fuelled the demand for advanced verification and identification technologies to ensure public safety. Face identification systems are witnessing major adoption in stadiums, corporate offices, streets and public places to track unwanted intrusions at the entry point itself.

Moreover, rapid integration of cameras with facial recognition features along with rapid deployment of these cameras on streets to aid law enforcement agencies identify blacklisted individuals and criminals may boost industry growth over the coming years. Estimates suggests that global facial recognition market will exceed USD 12 billion in terms of annual valuation by 2026.

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Facial recognition is observing immense popularity within the healthcare industry for several different applications. Facial identification platforms with AI capabilities can be utilized to recognize depressed patients by analysing their facial expressions. The technology can be used in hospitals for the identification of regular patients, doctors, and staff as well as to categorize new patients separately. Facial identification can also be used to track patients’ pain levels as well as to manage chronic pain to expedite treatment and diagnosis. Taking February 2019 for instance, over 30 hospitals across Beijing, China deployed cameras integrated with facial recognition technology.

In terms of the application, the increasing adoption of intelligent signage by retailers to get better consumer insights and optimize profits should increase its use over the coming years. Interactive digital signage having facial recognition capabilities helps in identifying customer demographics to order to display relevant, interactive, and personalized advertisements.

Additionally, it can also offer customized promotional offers to bring in more potential customers. Digital signage with facial recognition measures effectiveness in real-time and then provides targeted advertisements.

List of the Key Companies that are Operating in the Facial Recognition Market. They are as follows:

Accenture PLC, Animetrics Inc., AnyVision, Aware, Inc., Ayonix Corporation, Certibio, Cognitec Systems GmbH, Daon Inc., Face++, Facefirst Inc., Fujitsu Limited, Fulcrum Biometrics, Inc., Herta Security, HYPR Corp., IDEMIA, Key Lemon Ltd., Leidos, M2SYS, NEC Corporation, Nuance Communications, NtechLab, Panasonic Corporation, SmilePass, Stereovision Imaging, Inc., Thales Group

Geographically, increasing the adoption of technology in various sectors would boost the North America facial recognition market outlook over the projected time period. Both private and public sectors in the region, including defence, homeland security, BFSI, healthcare, and are increasingly moving to digital systems, which is creating immense demand for facial verification and verification systems. Taking October 2019 for instance, SnapPay, a renowned payment solution provider launched a new facial recognition-based payment technology for North American merchants, providing convenient payment solutions for customers in retail outlets.

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Table Of Content:

Chapter 5.   Facial Recognition Market, By Component

5.1.  Key trends, by component

5.2.  Software

5.2.1.  Market estimates and forecast, 2016 - 2026

5.2.2.  2D facial recognition

5.2.2.1.   Market estimates and forecast, 2016 - 2026

5.2.3.  3D facial recognition

5.2.3.1.   Market estimates and forecast, 2016 - 2026

5.2.4.  Facial analytics

5.2.4.1.   Market estimates and forecast, 2016 – 2026

5.3.  Services

5.3.1.  Market estimates and forecast, 2016 – 2026

Chapter 6.   Facial Recognition Market, By Application

6.1.  Key trends, by application

6.2.  Criminal investigation

6.2.1.  Market estimates and forecast, 2016 - 2026

6.3.  Homeland security

6.3.1.  Market estimates and forecast, 2016 – 2026

6.4.  ID management, attendance tracking & monitoring

6.4.1.  Market estimates and forecast, 2016 – 2026

6.5.  Intelligent signage

6.5.1.  Market estimates and forecast, 2016 – 2026

6.6.  Photo indexing & sorting

6.6.1.  Market estimates and forecast, 2016 – 2026

6.7.  Physical security

6.7.1.  Market estimates and forecast, 2016 – 2026

6.8.  Others

6.8.1.  Market estimates and forecast, 2016 – 2026

Chapter 7.   Facial Recognition Market, By End-Use

7.1.  Key trends, by end-use

7.2.  Aerospace & defense

7.2.1.  Market estimates and forecast, 2016 - 2026

7.3.  Automotive

7.3.1.  Market estimates and forecast, 2016 - 2026

7.4.  BFSI

7.4.1.  Market estimates and forecast, 2016 - 2026

7.5.  Education

7.5.1.  Market estimates and forecast, 2016 - 2026

7.6.  Healthcare

7.6.1.  Market estimates and forecast, 2016 - 2026

7.7.  Retail & e-commerce

7.7.1.  Market estimates and forecast, 2016 - 2026

7.8.  Government

7.8.1.  Market estimates and forecast, 2016 – 2026

7.9.  Others

7.9.1.  Market estimates and forecast, 2016 – 2026

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