Published : 3 years ago, on 19/07/2021

The Face Recognition Systems Market is estimated to reach USD 11.30 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the growing predominance of terrorist attacks, coupled with increase in demand for surveillance systems for enhancing safety and security which are also notable factors for industry growth. Furthermore, technological advancements along with implementation of smart phone technology are expected to become the most common growth factors globally in the coming years.

The facial recognition system is the recognition of the saved facial database, through which the identification of the individuals is made by analyzing their facial features from an image. This market is going to grow remarkably due to its expanded use in non-law enforcement and law enforcement purposes. Facial recognition is favored on a large scale due to its non-contact process and accessible deployment features. It is gaining popularity among other biometric technologies, such as fingerprint scanning, skin texture recognition, voice recognition, and iris recognition. This technology is used for marketing and security purposes mainly. Facial recognition system involves software, readers, and related database for rendering efficiency along with security. This technique is highly effective for avoiding security violations as compared to traditional methods such as passwords and signs, among others.

Due to the presence of key players, favorable reimbursement policies, and rising use of technology in the U.S along with several initiatives initiated by the governments, North America accounts for the largest share of 36.5% of the market in 2018. Technology improvements such as 3D recognition systems and cloud-based services are also anticipated to propel the overall market demand over the next couple of years.

Access Free sample PDF Copy of the Report @ https://www.reportsanddata.com/sample-enquiry-form/1435

Key participants include

NEC Corporation, 3M Cogent, Safran Group, Aurora Computer Services Ltd., nViso, Aware Inc., Ayonix Inc., Precise Biometrics, FaceFirst,  Nuance Communications, Keylemon, Cognitec Systems GmbH,  Animetrics, Daon Inc., Ayonix.

Further key findings from the report suggest

Growing incidences of terrorist attacks and security concerns are expected to boost the market growth.

The application of facial recognition offers a high level of security in the private and public sectors.

Presently, there has been an increase in terrorist attacks in government organizations. Thus the demand for the market is growing on a large scale.

Technically advanced facial recognition systems with its applications in mobile security and drones will implement significant opportunities in the future.

The government sector is making considerable investments in facial recognition technologies to protect its citizens from criminal threats.

The BFSI segment accounts for the largest share of 29.2% of the market in 2018.

Facial recognition software and services finds applications predominantly where the implementation, scrutiny, and monitoring of the facial detection law is needed.

The 3D facial recognition segment accounts for the largest share of 37.4% of the market in 2018.

Emerging technologies such as cloud-based solutions are further expected to support market growth.

Law enforcement services account for the largest share of 37.6% of the market in 2018.

Request for Custom Research @ https://www.reportsanddata.com/request-customization-form/1435

For this report, Reports and Data have segmented into the global Face Recognition Systems market on the basis of resin type, composite phases, industry vertical, and region:

By Technology  Outlook (Revenue, USD Million; 2016-2026)

Analytics solutions

3D

2D

Databases

Modeling and restructuring

By Application Outlook (Revenue, USD Million; 2016-2026)

Government & Utilities

BFSI

Military

Home and Security

Others

Component Outlook (Revenue, USD Million; 2016-2026)

Hardware

Software

Services Outlook (Revenue, USD Million; 2016-2026)

Law enforcement

Emotion recognition

Attendance tracking and monitoring

Access control

Others

Regional Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Buy now your Exclusive copy of Report @ https://www.reportsanddata.com/checkout-form/1435

Have a Look at Related Reports:

Thermal Scanners Market Size, Share And Industry Analysis By Wavelength (Long-Wave Infrared, Mid-Wave Infrared, Short-Wave Infrared), By Technology (Uncooled, Cooled), By Application (Search and Rescue, Thermography, Security & Surveillance, Others), by End-user (Aerospace & Defense, Healthcare & Lifesciences, Automotive, Oil & Gas, Commercial, Industrial, Others) And Region, Segment Forecasts To 2027

Air Purifier Market By Technology (HEPA, Activated Carbon, TSS), By Type (Dust & Pollen, Smoke & Fume), By CADR Values (Low, High), By Application (Residential, Commercial, Industrial), Forecasts To 2027

High Conductivity Alloy Conductor Market By Type (AL-59, AL-57, AAAC, Others), By Application (Bare Overhead Transmission Conductor, Primary And Secondary Distribution Conductor, Messenger Support, Others), And Region- Global Forecast To 2027

3D IC Market By Application (Memory, LED, MEMS, Sensor), By Type (3D Stacked ICs, True 3D ICs), By Industry Verticals (IT & Telecommunication, Automotive, Consumer Electronics, Military & Defense, Healthcare, Others), By End-Users, 2017-2027

Electronic Materials and Chemicals Market By Product, By Application (Silicon Wafers, P.C.B. Laminates, Specialty Gases, Wet Chemicals, And Solvents, Photoresist), And By End-Use (Semiconductors & Integrated Circuits, Printed Circuit Boards), Forecasts To 2027

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

Contact Us:

John W

Head of Business Development

Reports and Data | Web: www.reportsanddata.com

Direct Line: +1-212-710-1370

E-mail: [email protected]

Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs

The post Face Recognition Systems Market Revenue, Major Players, Consumer Trends, Analysis & Forecast Till 2026 | Reports And Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.