Facial Recognition Market worth $6.19 Billion by 2020

2024-04-08 06:48:09 Computer

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With the rising crime government over the globe are looking for new surveillance systems that are able to address these growing security concerns. The facial recognition technology as emerged as one of the leading technology that is able to address this growing security concerns.
Facial recognition technology is finding increasing deployment by various end users varying from government and utilities sector to enterprises and to consumer and home. The adoption of facial recognition has helped these end users to address their security concerns effectively.
MarketsandMarkets broadly segments the facial recognition market by region: North America (NA), Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America (LA); by solution: 2D facial recognition, 3D facial recognition, thermal facial recognition, emotion facial recognition, mobile facial recognition and forensic facial recognition ; by software: facial recognition software and SDK, middleware, databases, modeling and restructuring and analytics solutions; by hardware: facial recognition scanners, cameras, integrated devices and handheld facial recognition; by end user: government and utilities, enterprises and consumer and home.
MarketsandMarkets forecasts the global Facial Recognition market to grow from $2.77 Billion in 2015 to $6.19 Billion by 2020, at a CAGR of 17.4%. In terms of regions, North America is expected to be the biggest market in terms of market size, while APAC and MEA are expected to experience increased market traction, during the forecast period.
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