Face Recognition Systems Market 2018 Growth Rate by Application, Manufacturers and Forecast by 2023

(IT-NEWSWIRE.COM, September 24, 2018 ) Qurate studies the present scenario (with the base year being 2017) and the growth prospects of global Face Recognition Systems market for 2018-2023.

Over the next five years, Expert projects that Face Recognition Systems Market will register a 13.0% CAGR in terms of revenue, reach US$ 1100 million by 2023, from US$ 530 million in 2017.

This report studies the Face Recognition Systems market, a face recognition system is a computer application capable of identifying or verifying a person from a digital image or a video frame from a video source. One of the ways to do this is by comparing selected facial features from the image and a face database.

This report presents a comprehensive overview, market shares and growth opportunities of Face Recognition Systems market by product type, application, key companies and key regions.
The report also presents the market competition landscape and a corresponding detailed analysis of the major players in the market. The key players covered in this report:
NEC Corporation
Safran Group
Gemalto
Ayonix
Crossmatch Technologies
Aware Inc

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Currently, the market is primarily driven by robust technological advancements for development of efficient surveillance systems required by civil and government agencies. This is due to rising instances of criminal and terrorist activities and identification of fraud cases across the globe. Moreover, facial recognition systems that can scan images in all environmental conditions are being developed using 3D facial recognition technology. This would help overcome the barriers of 2D facial recognition technology that include light and pose deflections of the object. However, restrictions on users to share their personal details i.e. covert monitoring of an individual, is expected to hinder the market growth. Furthermore, increased adoption of facial recognition in web applications for picture tagging, social interaction, and others is expected to drive the demand for facial recognition in future.

The global facial recognition market is analyzed based on parameters such as type of technology, end-use industry and geographic regions. Of the different technology types, the 2D facial recognition technology segment contributed a significant revenue share （about 59.67%） in the global market in 2016. This is due to the adoption and acceptance of 2D facial recognition technology in surveillance, which is primarily due to its low cost and easy installation using existing cameras. The market for 3D facial recognition technology, that offers better and accurate results, is expected to record steady growth as compared to 2D technology. Furthermore, the facial recognition market is witnessing development of facial analytics systems that help generate descriptive metadata about a given face, apart from simple identification. This has resulted in the use of facial recognition technique as both identification and authentication tools.

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In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market. It also analyzes key emerging trends and their impact on present and future development.

To calculate the market size, Expert considers value generated from the sales of the following segments:
Segmentation by product type:
2D Face Recognition
3D Face Recognition
Segmentation by application:
Emotion Recognition
Law Enforcement, Surveillance, and Monitoring
Others

We can also provide the customized separate regional or country-level reports, for the following regions:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

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Research objectives
To study and analyze the global Face Recognition Systems market size by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of Face Recognition Systems market by identifying its various subsegments.
Focuses on the key global Face Recognition Systems players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Face Recognition Systems with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of Face Recognition Systems submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.

Qurate Business Intelligence

Nehal Chinoy

+919881074592

nehal@qurateresearch.com

Source: EmailWire.Com

Source: EmailWire.com

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Face Recognition Systems Market 2018 Growth Rate by Application, Manufacturers and Forecast by 2023