The Global Facial Recognition Market will witness a healthy growth from 2016 to 2022, a research
report suggests. Growing at a CAGR of 19.68%, the market is projected to reach
US$8.93 billion by 2022. Significance of the surveillance market is expected to
support the market growth along with the rising demand for surveillance. As
predicted by analysts, difficulty in dealing with legal risks and discovery
will negatively affect the market’s performance from 2016 to 2022. During the
forecast period, the market will be supported by a rise in the disposable
income and the growing application areas. The risk of false matches presents on
the other hand will challenge information technology sector based organizations
functioning in the global facial recognition market. Analysts have split the
market into technology, hardware & software, and vertical segments based on
products and services. Information technology based companies have been
profiled.
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Competitive
Outlook:
The global facial recognition market research
report brings a comprehensive study of technology, hardware & software, and
vertical market segments, regional analysis, and information technology
vertical based company details of key players. As the forecast period 2016 to
2022 will bring new opportunities for the market owing to the increasing
disposable income and the increasing preference of consumers, the market is set
to grow at a compound annual growth rate of 19.68% and is predicted to reach a
value of US$8.93 billion by 2022. With SWOT analysis of information technology
sector based companies and Porter’s Five Force model analysis based findings,
and understanding challenges such as the lack of developed infrastructure and
the lack of R&D investments, companies in the information technology sector
can change the way business is done.
Segmentation:
The information technology sector has seen growth across technology,
hardware & software, and vertical segments owing to high demand across
industry verticals and the increasing spending power of consumers. To study the
market, analysts have further segmented technology, hardware & software,
and vertical into 2D recognition, 3D recognition, and thermal recognition on
the basis of technology. The market is further segmented into hardware &
software sub segment which is split into face recognition software and
analytics. Additionally, the facial recognition market on the basis of vertical
is segmented into airports, government, home security, and large organizations.
The segmental analysis presented in the report provides information
technology field based organizations insights into key growth factors such as
advancements in technology as well as challenges such as the lack of
investments the market will face from 2016 to 2022. The rapidly growing
population and the rise in distribution channels are some of the key factors
having an influence on information technology industry based companies, suggest
analysts as per the facial recognition market report. But the report also
identifies the unavailability of professional services and concerns regarding
high costs as major threats companies in information technology will face till
2022.
Regional
Analysis:
Information technology market based companies in the facial recognition
market are functioning across North America, Europe, Asia Pacific, the Middle
East, and Africa including the rest of the world. The availability of many
untapped opportunities will be a key growth driver for regional markets.
However, the lack of investments in R&D will turn out to be a threat. For
the forecast period 2016 to 2022 each of these regional markets are studied in
the report. Starting from North America, the regional market and information
technology vertical based companies are spread across the United States,
Canada, and Mexico. The lack of skilled human resources will turn out to be a
major challenge from 2016 to 2022.
Parts of the European market covered in the report are regional markets
spread across the United Kingdom, France, Italy, and Germany. The market in the
region will be benefitted by the growing urbanization as well as the surging
usage across different industries, suggests the report. Similarly, the
information technology sector’s segmental analysis for the Asia Pacific region
covers India, Japan, China, and others. For the rest of the world, the research
report for the facial recognition market covers the Middle East and Africa.
Forecast based on the report’s findings are presented for the forecast period
till 2022.
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Table of Contents:
1 Executive
Summary
2 Scope of the
Report
2.1 Market
Definition
2.2 Scope
of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets
Structure
3 Market
Research Methodology
3.1 Research
Process
3.2 Secondary
Research
3.3 Primary
Research
3.4 Forecast
Model
Continued….
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