Press Release

Facial Recognition Market 2019: Comprehensive Analysis by Top Key Companies, Industry Growth, Size, Share, Market Insights, Sales Volume and Forecast to 2024


The “Facial Recognition Market” research report 2019-2024 delivers comprehensive information and valuable insights about the Facial Recognition industry. The information available in the Facial Recognition market report is not only based on the facts but also on the case studies, which analysts have included to convey appropriate information to the clients in a well-versed manner. Facial Recognition market report includes valuable information to assist new entrants, as well as established players, to understand the prevailing trends in the market.

Some Companies Are Covered in the Facial Recognition Market:

  • Panasonic Corporation
  • Gemalto NV
  • NEC Corporation
  • Cognitec Systems GmH
  • Aware, Inc.
  • FacePhi Biometric SA
  • Animetrics Inc.
  • Ayonix Corporation
  • Face First Inc.
  • Idemia France SAS
  • Daon Inc.

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    Market Overview:

  • The market was valued at USD 4.51 billion in 2018 and is expected to reach a value of USD 9.06 billion by 2024, at a CAGR of 12.5%, for the forecast period (2019-2024). Facial Recognition has been gaining prominence in recent times, owing to the benefits it offers over traditional surveillance techniques, like biometrics. Governments across the world have been investing significant resources in facial recognition technology, among which, the United States and China are leading adopters.
  • – Increasing Demand for Surveillance systems to enhance safety and security are increasing the adoption of Facial Recognition Systems
  • – Government initiatives are expected to contribute to the double-digit growth of such technologies. For instance, the US government has plans to reshape airport security through facial recognition, to register and identify the visitors.
  • – Though, interest on multi-factor authentication has been increasing, owing to increasing cyber-attacks, terror attacks and identity theft, the need to incorporate better security systems is encouraging organizations to implement safe multi-factor authentication solutions, like finger print sensors and facial recognition technology.

    Scope of the Report:

  • Facial recognition is defined as a method of recognizing a human face through Hardware like Video Cameras. The scope of this study is limited to standalone facial recognition solutions and services offered by various vendors like NEC. The Hardware components involved for facial recognition services like video cameras, sensors, etc. are not considered for arriving at the revenue estimates during the forecast period.

    Reasons for Buying Facial Recognition Market Report:

    • This report provides pin-point analysis for changing competitive dynamics
    • It provides a forward looking perspective on different factors driving or restraining market growth
    • It provides a five-year forecast assessed on the basis of how the market is predicted to grow
    • It helps in understanding the key product segments and their future
    • It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
    • It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments

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    Key Market Trends:

    3D Facial Recognition is Expected to Hold a Highest Market Share

    – Presently, around 94% of smartphones features fingerprint sensors, but this is expected to drop to 90% by 2023, with technologies like 3D facial recognition becoming a standard approach to user authentication, growing technological advancement is expected to increase its penetration rate.
    – The development in 3D cameras market is also expected to bring advancement and new applications for 3D facial recognition technology especially healthcare IT solutions, payments and commerce sector
    – For instance, in June 2018, SensibleVision, a Florida-based firm launched its 3DWALLET technology, designed to let retailers replace cash and card payments and eliminate the need for checkout lines through a 3D facial recognition platform that identifies customers automatically and charges them for their purchases.

    North America is expected to hold the Highest Market Share

    – The region offers lucrative opportunities for market growth, exhibiting a massive demand for facial recognition technology for homeland security and criminal investigation.
    – The biggest facial recognition surveillance system in the region is operated by the FBI. The FBI’s ID system maintains a facial recognition database with images of more than 117 million Americans. The FBI conducts, on an average, 4,055 searches every month to identify individuals with facial recognition systems.
    – The United States alone witnessed a total of 1,579 data breaches in 2017, of which, 8% of data breaches were accounted by banking institutes. Although this number is small, the amount of sensitive data available in the banking industry is very high, making it a prime target for hackers. These factors are further expected to provide significant opportunities to the facial recognition market.
    – Canadian companies are also taking advantage of this facial recognition technology. For instance, Mexia One used facial recognition systems to provide secure event access at the popular industry event, Mobile World Congress 2018.

    Facial Recognition Market Report Provides Comprehensive Analysis of:

    • Functional market industry outline
    • Up and downstream industry examination
    • Channels and propositions believability
    • Market challenge by key players
    • Enhancement suggestions examination

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    Report Highlights:

    • Market Dynamics – Drivers, Restraints, and Opportunities
    • Market Segmentation – Types, Applications, Regions, and Technology
    • Market Trends
    • Competitive Landscape
    • SWOT Analysis and Porter’s Five Forces Analysis

    Detailed TOC of Facial Recognition Market Report 2019-2024:

    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study



    4.1 Market Overview
    4.2 Technology Snapshot
    4.3 Value Chain / Supply Chain Analysis
    4.4 Industry Attractiveness – Porter’s Five Force Analysis
    4.4.1 Threat of New Entrants
    4.4.2 Bargaining Power of Buyers/Consumers
    4.4.3 Bargaining Power of Suppliers
    4.4.4 Threat of Substitute Products
    4.4.5 Intensity of Competitive Rivalry
    4.5 Introduction to Market Drivers and Restraints
    4.6 Market Drivers
    4.6.1 Increasing Demand for Surveillance Systems to Enhance Safety and Security
    4.6.2 Increasing Adoption of Facial Recognition in Consumer Electronics
    4.7 Market Restraints
    4.7.1 Privacy Concerns

    5.1 Technology
    5.1.1 3D Facial Recognition
    5.1.2 2D Facial Recognition
    5.1.3 Facial Analytics
    5.2 End User
    5.2.1 Security and Law Enforcement
    5.2.2 Healthcare
    5.2.3 Retail
    5.3 Geography
    5.3.1 North America
    5.3.2 Europe
    5.3.3 Asia Pacific
    5.3.4 Rest of the World

    6.1 Company Profiles
    6.1.1 Panasonic Corporation
    6.1.2 Gemalto NV
    6.1.3 NEC Corporation
    6.1.4 Cognitec Systems GmH
    6.1.5 Aware, Inc.
    6.1.6 FacePhi Biometric SA
    6.1.7 Animetrics Inc.
    6.1.8 Ayonix Corporation
    6.1.9 Face First Inc.
    6.1.10 Idemia France SAS
    6.1.11 Daon Inc.



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