The post Facial Recognition Market will Reach $20.63 Billion by 2030, Expanding by 17.2% Annually appeared first on Newstrail.com authored by Altus Market Research

This 175-page report, titled “Global Facial Recognition Market 2020-2030 by Technology (3D, 2D, Analytics), Component (Service, Software, Hardware), Application, End User, and Region: Trend Forecast and Growth Opportunity,” is based on a thorough analysis of the entire global facial recognition market and all of its sub-segments through meticulously detailed classifications. It is highlighted by 85 tables and 87 figures. Premium primary and secondary information sources are used to create in-depth research and evaluation, with input coming from business specialists working throughout the value chain.

Due to the increased need for biometric services and secure identification technologies, the global market for face recognition will reach $20.63 billion by 2030, expanding by 17.2% annually between 2020–2030.

The research uses 2019 as the foundation year for its estimate, which ranges from 2020 to 2030 and is based on studies from 2015 to 2019. (Please note that the report will be updated before to delivery to ensure that the forecast includes at least 5 years beyond the base year and the most recent historical year serves as the base year.)

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In-depth qualitative analyses include identification and investigation of the following aspects:

• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces

The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify global facial recognition market in every aspect of the classification from perspectives of Technology, Component, Application, End User, and Region.

Based on Technology, the global Facial Recognition Market is segmented into the following sub-markets with annual revenue for 2019-2030 included in each section.

• 3D Facial Recognition
• 2D Facial Recognition
• Facial Analytics

Based on Component, the global Facial Recognition Market is segmented into the following sub-markets with annual revenue for 2019-2030 included in each section.

Services

• Cloud-Based Facial Recognition Services
• Training and Consulting Services

Software Tools

• 3D Facial Recognition
• Thermal Face Recognition
• 2D Facial Recognition

Hardware

• Cameras
• Scanners
• Handheld Devices
• Integrated Devices

Based on Application, the global Facial Recognition Market is segmented into the following sub-markets with annual revenue for 2019-2030 included in each section.

• Law Enforcement
• Tracking and Monitoring
• Emotion Recognition
• Access Control
• Other Applications

Based on End User, the global Facial Recognition Market is segmented into the following sub-markets with annual revenue for 2019-2030 included in each section.

• Healthcare
• BFSI
• Military and Defense
• Government
• Hospitality
• Retail and Ecommerce
• Transportation
• Other End Users

Along with the above national/local markets, the following geographic areas are thoroughly investigated:

• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further split into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka) (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
In Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• America, North (U.S., Canada, and Mexico)
Latin America (Brazil, Chile, Argentina, Rest of South America)
• RoW (Saudi Arabia, UAE, South Africa)

There are thorough analyses and statistics for yearly revenue for each of the aforementioned regions and nations for the years 2019 through 2030. All regional markets are broken down by country, and major national markets are divided according to technology, component, and end user during the anticipated years.

The Facial Recognition Market study also analyses the present competition landscape, the anticipated trend, and it provides profiles of major suppliers, including both established market leaders and significant up-and-coming companies.

Through AMR’s Risk Assessment System, possible risks related to investments in the worldwide face recognition industry are evaluated quantitatively and qualitatively. Critical Success Factors (CSFs) are developed based on the risk analysis and assessment as a guide to assist investors and shareholders in identifying new possibilities, managing and minimising risks, developing suitable business models, and making informed strategies and choices.

Key Players:

3M Company
Amazon Web Services
Animetrics
Aware
Ayonix
Cognitec Systems
Cross Match
FaceFirst, Inc.
Gemalto
Google
Herta Security
IBM
IDEMIA
Kairos
Keylemon
MorphoTrust
NEC Corporation
Nviso
Techno Brain
XiD Technologies