Facial Recognition Market in l4 Industry to grow by $ 3.78bn|Technavio
The facial recognition market size value is poised to grow by $ 3.78 bn during 2021-2025. The market is expected to progressing at a CAGR of over 12%. In addition, the report offers a detailed analysis of the current market scenario, which is majorly focused on the COVID-19 impact. Furthermore, our research expects have extensively covered the latest trends, challenges, and drivers and vendor strategies to overcome growth obstacles.
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Facial Recognition Market Trends & Drivers
The facial recognition market research report has a detailed analysis on the key drivers, trends, and challenges, which will help vendors in making important business decisions and modifications to cater to the changing consumer demand. While it is essential to capitalize on key drivers such as increasing instances of identity threats, it is also crucial to understand the challenges that will impede sales during the forecast period. Identifying and addressing market growth challenges will create additional opportunities for the existing and new market players.
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The facial recognition market has also explored key trends such as adoption of 3d facial recognition technology, which will have a significant positive impact on the market growth over the forecast period. A thorough study of the market trends will enable vendors to understand demographics effectively, which can be used to further product and service innovation.
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Facial Recognition Market: Segmentation Analysis
This market research report segments the facial recognition market by Application (Identification and Verification), Geography (North America, Europe, APAC, MEA, and South America), Technology (3D facial recognition and 2D facial recognition), and End-user (Government sector, BFSI sector, Transportation sector, and Other sectors).
The North America region led the facial recognition market in 2021, followed by Europe, APAC, MEA, and South America respectively. During the forecast period, the North America region is expected to register the highest incremental growth due to factors such as .
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A few of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario