COVID-19: Facial Recognition Market 2020-2024 | Increasing Instances of Identity Theft to Boost Market Growth | Technavio
Technavio has been monitoring the facial recognition market and it is poised to grow by USD 3.35 billion during 2020-2024, progressing at a CAGR of almost 12% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Facial Recognition Market 2020-2024 (Graphic: Business Wire)
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio's in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. We offer $1000 worth of FREE customization
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ASSA ABLOY AB, Aware Inc., Cognitec Systems GmbH, Egis Technology Inc., IDEMIA France SAS, NEC (News - Alert) Corp., Precise Biometrics AB, Safran SA, Synaptics Inc., and Thales Group are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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Increasing instances of identity theft have been instrumental in driving the growth of the market. However, the high cost of deployment might hamper market growth.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. Download a Free Sample Report on COVID-19 Impacts
Facial Recognition Market 2020-2024: Segmentation
Facial Recognition Market is segmented as below:
Facial Recognition Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The facial recognition market report covers the following areas:
This study identifies the growing adoption of 3D facial recognition technology as one of the prime reasons driving the Facial Recognition Market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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Facial Recognition Market 2020-2024: Key Highlights
Table of Contents:
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Technology
Market Segmentation by End-user
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