1. Market Research
  2. > ICT
  3. > IT Hardware
  4. > Security Systems Market Trends
Facial Recognition Market - Growth, Trends, and Forecast (2020 - 2025)

Facial Recognition Market - Growth, Trends, and Forecast (2020 - 2025)

  • April 2020
  • 116 pages
  • ID: 5891613
  • Format: PDF
  • Mordor Intelligence LLP

Summary

Table of Contents

Search Inside

The global facial recognition market was valued at USD 4.4 billion in 2019, and it is projected to be valued at USD 10.9 billion by 2025, registering a CAGR of 17.6% over the forecast period, 2020-2025. Facial recognition has been gaining prominence in recent times, owing to its benefits over traditional surveillance techniques, like biometrics. Governments across the world have been investing significant resources in the facial recognition technology, among which, the United States and China are leading adopters.

- There is a rising interest in multi-factor authentication, owing to increasing cyberattacks, terror attacks, and identity theft. The need to incorporate better security systems is encouraging organizations to implement safe multi-factor authentication solutions, like fingerprint sensors and facial recognition technology.?
- With technology giants, like Apple, offering facial recognition features in their latest releases, the applications of facial recognition have extended to retail and banking. Mastercard has been working on a facial recognition concept for online purchases, called Selfie Pay. Such innovations have been encouraging several investments in the market.
- The benefits of facial recognition are expanding quickly into several new end-user applications. For example, in the case of the healthcare industry and hospitality sector, facial recognition is, increasingly, gaining popularity. It can replace passwords or devices to enable quick access to medical records. The National Institutes of Health (NIH) published a new study that strengthened the hypothesis about the effectiveness of AiCure‘s medication adherence solution.
- Vendors in the market are expected to focus on increasing the accuracy of the technology, as numerous vendors in the market faced a backlash from both consumers and government bodies, due to technologies lagging in recognizing faces in certain scenarios. For instance, Amazon’s facial recognition software, ’Rekognition’, was accused of falsely identifying 28 members of the US Congress as people arrested for various crimes.

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

- 3D facial recognition technology is expected to hold a prominent share of the market, due to the increasing adoption of the technology in surveillance and smartphones. The advanced features and increased accuracy offered by the technology are driving the demand, and the technology is increasingly incorporated for authentication and access control. ?
- 3D facial recognition calculates face geometry in 3D with the help of invisible light of an infrared camera, delivering an optimal user experience that combines convenience, reliability, and comprehensive security. Presently, around 94% of smartphones feature fingerprint sensors, however, this is expected to drop to 90% by 2023, with technologies, like 3D facial recognition, becoming a standard approach to user authentication.
- The accuracy offered by 3D facial recognition is witnessing increasing adoption in applications that are critical and operate over sensitive data. Over the coming years, this technology is expected to be incorporated into authenticating payments. For instance, at NRF 2020, Wordline showcased the pay-with-your-face solution, which was jointly developed with OneVisage, incorporating 3D facial biometrics. ?
- The development in the 3D cameras market is also expected to bring advancement and new applications, for 3D facial recognition technology. For instance, the automotive industry is expected to observe significant adoption rates over the coming years, as vendors are focusing on adopting the technology not only as part of access control but also as safety systems that are part of ADAS systems. IDEMIA offers 3D facial recognition and video analytics as part of its access control solutions for the automotive industry.

Asia-Pacifc is Expected to Register the Highest Market Growth

- The Asia-Pacific is the most prominent region for the adoption of facial recognition, owing to factors, such as technological development, rising in infrastructure growth, and the increasing applications in numerous areas. Massive industrialization and the growing consumer electronics industry in the region highlight the exciting opportunities for the players in the market and the scope for significant growth.
- With an increasing urban population and a rise in purchasing power, Asia-Pacific is one of the largest markets for consumer biometrics. Increasing mobile transactions for banking in countries, such as India and China, coupled with initiatives by governments, are expected to be the major drivers for the facial recognition market in the region.?
- For instance, China is witnessing a high mobile transactional volume, which is expected to create a demand for biometrics.According to the China Internet Network Information Center (CNNIC), in 2018, around 583.4 million people used mobile payment transactions in the country, up from 527 million users in 2017.
- The ongoing COVID-19 pandemic, affecting more than 140 countries in the present day, has increased the importance of facial recognition payments. Telpo, in China, is pitching this recognition technology, as a method for a sanitary alternative to fingerprint scanners, and for identifying individuals without the risk of close contact.

Competitive Landscape
The competitive rivalry is not consolidated in this market, despite the presence of a few major players operating in the market, such as Aware and Gemalto, among others. With the number of startups in the study market growing at a substantial rate, the market is expected to witness a highly competitive scenario in the near future. Some of the key developments in the market are:
- Jan 2020 - Thales partnered with Docaposte to upgrade the security of the La Poste’s Identité Numérique mobile app. Docaposte integrated Gemalto’s two-factor mobile authentication technology into the Identité Numérique mobile app. This partnership may leverage the smooth expansion of the company in Europe.
- Nov 2019 - Panasonic Corporation announced the availability of an application programming interface (API) for its facial recognition technology to the market in Japan. Panasonic’s facial recognition technology can accurately identify faces, even under difficult conditions that had previously presented challenges to facial recognition.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.

ref:plp2020

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on