Press release
Facial Recognition Market Statistical Analysis 2022 at CAGR of 17% by Demand, Types, Latest Advancements, Share and Forecast 2029
The Global Facial Recognition Market is forecast to reach a value of USD 13 billion by 2028 by rising at a compound annual growth rate (CAGR) of 17% throughout the forecast period from 2019 to 2028Facial Recognition Market Overview
The growing relevance of the surveillance business, increased government and defence sector investment in facial recognition technology and increasing technical innovation across industrial verticals are the primary drivers driving the growth of the facial recognition market. Face occlusion and face detection mistake, as well as a lack of information and awareness, are some of the biggest roadblocks to the facial recognition market's growth.
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Industry Development
Texas sues Meta's Facebook over facial-recognition practices
The Texas attorney general's office sued Meta's Facebook on Monday, alleging that the social media giant violated state privacy protections with facial-recognition technology that collected the biometric data of millions of Texans without their consent.
The lawsuit accuses Facebook of capturing biometric information from photos and videos that users uploaded without consent, disclosing the information to others and failing to destroy it within a reasonable time.
Research Methodology:
To calculate the market size, the report considers the revenue generated from the sales of Facial Recognition market manufacturers. The revenue created from the sales of Facial Recognition Market has been calculated through primary and secondary research.
The market size assessment also considered leading players revenues as part of triangulation the key players considered are FacePhi, Aware, NEC Corporation, TECH5, IDEMIA, Gemalto NV, Ayonix Corporation, and Cognitec Systems GmbH and Others.
The Facial Recognition Market has been segmented as below:
Facial Recognition Market by Technology Segment, 2019-2028, (in USD million)
3 D Facial Recognition
2 D Facial Recognition
Facial Analytics
Facial Recognition Market by Application Segment, 2019-2028, (in USD million)
Emotion Recognition
Attendance Tracking and Monitoring
Access Control
Security & Surveillance
Facial Recognition Market by End-Use Industry Segment, 2019-2028, (in USD million)
Law Enforcement
Health Care
Retail
Other End Users
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Facial Recognition Market: Regional Analysis
Geographically, this report is segmented into several key countries, with market size, growth rate, import and export of Facial Recognition market in these countries, which covering North America, U.S., Canada, Europe, UK, Germany, France, Spain, Italy, ROE, Asia Pacific, China, India, Japan, Australia, South Korea, RoAPAC, Latin America, Brazil, Mexico and Rest of the World.
Geographically, the market is dominated by APAC, North America and Europe.
Major Key areas that have been focused on in the report:
Raw material supply analysis
Major trends noticed in the Global Facial Recognition Market
Market Geographic limitations, and pricing issues
Distribution, scheduling, performance, and supplier requirements
Growth opportunities that may emerge in the industry in the upcoming years
In-depth value chain analysis
Sustainability trends and environmental concerns
Market Gap and Opportunities
Global Market Growth Drivers, Opportunities, and Constraints.
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