Facial Recognition

Facial Recognition Market Global Trend and Opportunity Analysis 2021-2031

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  • Published
    July 2021

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Example Insights

  • In the coming years, the market is anticipated to grow at a significant pace, driven by growing demand for facial recognition solutions by industries dealing with confidential data (such as defense, BFSI and government) and rising application of physical security and digital signage. However, high implementation costs and privacy concerns related to facial recognition solutions are anticipated to hinder the market growth.
  • Since 2018, several partnerships have been inked between industry stakeholders, and there have been several product launches, as well. For instance, in January 2020, NEC Corporation partnered with the Mitsui Fudosan hotels to provide a facial recognition technology equipped Smart Hospitality Service for its newly developed hotel brand Sequence. . Similarly, in December 2019, Google introduced facial recognition as a means of authentication on its Google Pay mobile payments platform. 
  • Based on prevalent trends, the market size is likely to be significantly impacted by the active contributions of several well big players that are involved in this domain.

Report Description

The “Facial Recognition Solutions Market: Global Opportunity and Trend Analysis, 2021-2031” report features an extensive study of the current market landscape of the stakeholders engaged in this emerging industry. 

This report provides an in-depth analysis of the players offering facial recognition solutions, highlighting some of the key strategies that they have adopted over the years. The study further includes informed insights related to the competitive market landscape, based on both qualitative and quantitative assessments of key market trends, growth drivers, constraints, and upcoming opportunity areas, within the facial recognition solutions industry.

One of the key objectives of the report was to estimate the existing market size and future opportunity associated with the facial recognition solutions, over the next decade. Based on multiple parameters, such as the historical and anticipated growth of the parent market (i.e. emotion detection market), current and anticipated cost of facial recognition hardware and software, we have developed estimates on the evolution of this market, for the period 2021-2031.  

Scope of the Report

  • A detailed assessment of the market opportunity associated with facial recognition solutions, over the next decade, based on type of technology (2D, 3D and facial analytics), type of application (access control, security and surveillance), type of end user (healthcare, BFSI, automobile, government, defense, and others) and key geographical regions (North America, Europe, Asia Pacific and rest of the world). 
  • An analysis of the competitive market landscape based on several relevant parameters, and featuring important details related to the players engaged in the facial recognition market, such as their year of establishment, location of headquarters, company size (in terms of employee count) and list of key executives.
  • An insightful market assessment summary, highlighting the key strategic initiatives undertaken by players engaged in the facial recognition domain.
  • An analysis of the investments made at various stages of development, such as seed financing, venture capital financing, debt financing, grants / awards, capital raised from IPOs and subsequent offerings, in companies that are engaged in this field.
  • An analysis of the partnerships that have been established in the domain, over the past few last five years, based on several relevant parameters, such as year of deal, type of partnership, location of headquarters of partnering companies and most active players (in terms of number of partnership instances).
  • A detailed, qualitative assessment of the key growth drivers, restraints, and emerging opportunity areas, associated with facial recognition market.
  • Detailed profiles of companies offering facial recognition platforms, featuring an overview of the company, information related to its financials (if available), key offerings, as well as some of the recent strategic initiatives undertaken by the firm in pursuit of organic growth.

Key Questions Answered

  • Who are the leading industry players in this market?
  • What are the different types of strategic initiatives undertaken by industry stakeholders, in pursuit of organic growth?
  • What is the trend of investments made into the companies engaged in this field?
  • What are the key growth strategies being adopted by players offering facial recognition solutions? 
  • What are the key drivers and restraints within the facial recognition market?
  • How is the current and future market opportunity likely to be distributed across key market segments?

Examples of key industry players featured in this report have been mentioned below (inexhaustive list):

  1. Amazon
  2. Aware
  3. Cognitec Systems 
  5. Microsoft
  6. NEC
  7. Nuance
  8. Onfido
  9. Tech 5
  10. Thales E-Security


Table Of Contents

1. Preface

2. Executive Summary

3. Market Overview

4. Market Sizing and Opportunity Analysis by Type of Technology

5. Market Sizing and Opportunity Analysis by Type of Application

6. Market Sizing and Opportunity Analysis by Type of End User

7. Market Sizing and Opportunity Analysis by Geography

8. Company Profiles

9. Competitive Landscape

10. Partnerships and Collaborations

11. Start-Up Funding Analysis

12. PESTLE Analysis

13. Executive Insights


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