Facial Recognition Market - Industry Analysis, Covid-19 Impact of Market

At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

The global facial recognition market size is expected to reach USD 13.87 Billion at a steady CAGR of 15.7% in 2028, according to latest analysis by Emergen Research. This steady market revenue growth can be attributed to rising need for physical security, increasing deployment and use of biometric devices, and rising deployment of 5G technology. Rising demand for electronic devices such as mobile phones, wearable devices, smart devices, and increase in technology adoption such as cloud-based technology and IoT is expected to continue to fuel growth of the global facial recognition market going ahead

Some of the key factors driving the growth of the global Facial Recognition market include expanding RD efforts to develop novel Facial Recognition products for a variety of applications and rising demand for mercury control technology for industrial air purification. The most recent data on the COVID-19 pandemic market condition is provided in the research. The investigation indicates that COVID-19 plays a vital role in the market's dynamically altered environment. The study carefully investigates how the pandemic has altered market dynamics and trends while also precisely analysing how the crisis has impacted the market as a whole.

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Effect of COVID-19 on the global market for Facial Recognition

The COVID-19 pandemic had a significant negative influence on the market for Facial Recognition in 2020, significantly decreasing its CAGR. In 2020, manufacturers and suppliers of Facial Recognition were significantly impacted by federal and national safety and legal orders. The majority of businesses have been impacted by the COVID-19 pandemic. Mandates for business closures, restricted municipal and state government office activities, and social conventions of distance had an impact on the production of Facial Recognition in 2020. Additionally, demand for Facial Recognition decreased across a range of end-use sectors. The pandemic epidemic also resulted in a decline in global investments in the water sector.

Facial Recognition market : Competitive Landscape

The prominent players operating in the Facial Recognition market are profiled in-depth in the report and their strategies, collaborations, and product innovations. The analysis of the key players and their strategies to fortify their presence in the market impart a better understanding of the competitive landscape of the Facial Recognition market .

Some of the prominent players operating in the market are:

NEC Corporation, Cognitec Systems, Aware Inc., FaceFirst Inc., Safran SA, Panasonic Corporation, Gemalto NV, Key Lemon Ltd., Ayonix Corporation, Face++

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The research study examines historic data from 2018 and 2020 to draw forecasts until 2028. The timeline makes the report an invaluable resource for readers, investors, and stakeholders looking for key insights in readily accessible documents with the information presented in the form of tables, charts, and graphs.

Key questions answered in the report:

What will be the development pace of Facial Recognition market ?

What are the key factors driving the Global Facial Recognition market ?

Who are the key manufacturers in the market space?

What are the openings, hazards, and outline of the market?

What is sales, revenue, and price analysis of top manufacturers of Facial Recognition market ?

Who are the distributors, traders, and dealers of Facial Recognition market ?

What are the Facial Recognition market opportunities and threats faced by the vendors in the Global Infrared detector industries?

What are deals, incomes, and value examinations by types and utilizations of the market?

What are deals, income, and value examinations by areas of enterprises?

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Segments Covered in this report are:

  • Component Outlook (Revenue, USD Billion; 2018–2028)

    • Hardware
    • Software
  • Technology Outlook (Revenue, USD Billion; 2018–2028)

    • 2D Facial Recognition
    • 3D Facial Recognition
    • Facial Analytics
  • Application Outlook (Revenue, USD Billion; 2018–2028)

    • Physical Security
    • ID Management
    • Criminal Investigation
    • Business Intelligence
    • Photo Indexing and Sorting

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Regional Bifurcation of the Facial Recognition market Includes:

  • North America (U.S., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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