Allied Market Research recently published a report on the global facial recognition market, which is an extensive study of the industry for the period 2015–2022. The study covers the various market segments, in terms of components, applications, and the different technologies used with it. It evaluates the various driving factors, restraints, opportunities, and challenges faced by the industry. With a detailed examination of its key players, the report also provides an informative competitive analysis of the global facial recognition market. There are key statistics, charts, and informative tables in the report to support the different findings and research conclusions.
The global facial recognition market report emphasizes on the exponential growth of the industry in the forecast period 2015–2022. According to the findings of the study, the market is projected to garner a total value of $9.6 billion by the year 2022. This will be supported by a CAGR of 21.3% during the given forecast period. The study also focusses on the presence of the market in various geographical regions of the world. With an in-depth analysis, the global facial recognition market explains the attractiveness of each region and highlights the huge potential for investment for the investors and business owners.
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Key findings for Facial Recognition Market Report:
• The three-dimensional facial recognition technology is expected to dominate the market through the forecast period 2016–2022.
• The hardware segment helder the larger share in the component segment in 2015, and is expected to lead the market till 2022.
• In the year 2015, the highest revenue was contributed by homeland security, which accounted for nearly 21% of the entire market revenue. This segment is estimated to maintain its position during the entire forecast period.
• In terms of geography, Asia-Pacific constituted for nearly 23% of the total revenue in 2015. It is also touted to be the fastest growing region over the next few years.
The report enlists the profiles of the key market players engaged in the industry. The inclusion of crucial data about the business performances, product offerings, pricing policies, and marketing strategies of each player provided in the report enable a better competitive analysis of the major players. The main players mentioned in the study include names, such as 3M, Cognitec Systems GmbH, NEC Corporation, FaceFirst, Inc, Nuance Communications Inc., Crossmatch, International Business Machines Corporation (IBM), Animetrics, and Daon Inc.
The global facial recognition market report focuses on the essential factors driving the market ahead. With a detailed competitive analysis, the study entails a better understanding of the market scenario and various dynamics followed by the players in the industry. The significant investment pockets highlights in the report give the interested stakeholder a comprehensive analysis of the various market trends. The facial recognition market report gives a better guidance to investors and business owners about the potential possessed by each segment and various technologies that propel its share in the overall market.