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$ 3.78 Bn Growth Opportunity in Facial Recognition Market 2021-2025 | Analysis of 25+ Companies | 17,000+ Technavio Research ReportsNEW YORK, Aug. 30, 2021 /PRNewswire/ -- A new market research report on the global facial recognition market has been released by Technavio. The market is expected to grow by USD 3.78 billion, progressing at a CAGR of over 12% during 2021-2025. The report presents detailed information on the upcoming trends, challenges, and uncovers successful business strategies adopted by vendors during the crisis. Discover market potential and make informed business decisions based on qualitative and quantitative evidence highlighted in our report Facial Recognition Market Report: Major Facts Released: Aug 2021 Forecast years: 2021-2025 No. of Exhibits: 123 Companies covered: 25+ companies including dominant players such as ASSA ABLOY AB (Sweden), Aware Inc. (US), Cognitec Systems GmbH (Germany), Fulcrum Biometrics Inc. (US), and IDEMIA (France). Coverage: Application, technology, and end-user segments and geographical landscape. Segmentation by Application: Based on the application, the market is segmented by identification and verification. The identification segment generated maximum revenue in the market in 2020. The growth of the market in the identification segment will be significant during the forecast period. Segmentation by Geography: The facial recognition market size is analyzed across APAC, Europe, North America, South America, and MEA. North America is currently the largest market for facial recognition and the region is expected to retain its position over the forecast period. The facial recognition market in North America is mainly driven by the high adoption of advanced technologies at the initial stages for homeland security and defense. Also, the growing importance of facial recognition in the BFSI sector is expected to contribute to the growth of the facial recognition market in North America during the forecast period. The US is the key market for facial recognition in North America. Major Growth Driver: The global facial recognition market is driven by the increasing instances of identity threats. The growing reliance on websites and web applications is increasing the number of identity and data thefts worldwide. Also, the rising popularity of online gaming and social networking platforms is increasing the risk of identity theft. This is forcing end-users to implement secure authentication solutions, which is increasing the use of biometrics. Biometric solutions can incorporate the physical and behavioral features of users, which makes it difficult for hackers to forge identities. Therefore, the rising incidence of identity threats is expected to fuel the growth of the market during the orecast period. Gain access to a detailed customer landscape matrix comparing key industry-driven parameters by requesting a free sample: www.technavio.com/talk-to-us?report=IRTNTR44231 Related Reports on Information Technology: Global Blockchain Identity Management Market – Global blockchain identity management market is segmented by end-user (BFSI, government, healthcare, and others), application (end-point, network, and infrastructure), and geography (North America, Europe, APAC, South America, and MEA). Global Biometric POS Terminals Market – Global biometric POS terminals market is segmented by technology (fingerprint identification, palm vein identification, and others) and geography (North America, Europe, APAC, MEA, and South America). Table of contents: Executive Summary Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Technology
Market Segmentation by End-user
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
Technavio's library includes over 17,000+ reports covering more than 2,000 emerging technologies. About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts View original content to download multimedia:https://www.prnewswire.com/news-releases/-3-78-bn-growth-opportunity-in-facial-recognition-market-2021-2025--analysis-of-25-companies--17-000-technavio-research-reports-301364524.html SOURCE Technavio |