The global facial recognition market is expected to grow from USD 6.09 billion in 2023 to USD 25.41 billion by 2032, growing at a CAGR of 17.2% in the forecast period of 2024-2032.
Base Year
Historical Year
Forecast Year
| Global Facial Recognition Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 6.09 |
| Market Size 2032 | USD Billion | 25.41 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 17.2% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 19.4% |
| CAGR 2024-2032 - Market by Country | USA | 19.1% |
| CAGR 2024-2032 - Market by Country | China | 18.3% |
| CAGR 2024-2032 - Market by Type | Facial Analytics | 18.1% |
| CAGR 2024-2032 - Market by Application | Security and Law Enforcement | 18.6% |
| Market Share by Country 2023 | India | 4.1% |
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The increasing data security initiatives, the rising use of mobile devices, and the growing demand for fraud detection and prevention technologies are the major growth drivers of the global facial recognition market.
Facial recognition is a biometric application of the software that can uniquely identify or verify an individual by analysing and comparing patterns based on the facial contours of the individual. Facial recognition is used primarily for safety reasons, although interest in other applications of the product is also increasing. The facial recognition market can be divided based on segments like types and applications.
The industry can be divided based on its types as:
The industry can be broadly categorised based on its application segments into:
Looks into the regional facial recognition markets like:
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| CAGR 2024-2032 - Market by | Country |
| USA | 19.1% |
| China | 18.3% |
| UK | 17.7% |
| India | 17.6% |
| Mexico | 15.8% |
| Canada | XX% |
| Germany | XX% |
| France | XX% |
| Italy | 15.6% |
| Japan | XX% |
| Australia | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
The section of financial services has invested strongly in technologies to improve services, including facial recognition-enabled biometrics solutions. During the forecast period, North America is anticipated to account for a significant industry share in the industry as it is a technologically developed region with a large number of early adopters of facial recognition and the existence of significant market players in the region. In this region, factors such as large-scale financed programs and tracking of worker access in buildings are driving the growth of the facial recognition market. In addition, the industry globally has been fuelled by the compulsory provisions enforced by public regulators to embrace the best-in-class techniques and standards.
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The report presents a detailed analysis of the following key players in the global facial recognition market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter's Five Forces models.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global facial recognition market attained a value of nearly USD 6.09 billion.
The market is projected to grow at a CAGR of 17.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 25.41 billion by 2032.
The major market drivers include the improving data security standards, the growing internet and smartphone penetration, increasing incidences of data theft and fraud, and the growing product demand from financial services sector.
The key market trends guiding the growth of the market include the growing technological advancements and the increasing adoption of automation in various enterprises.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
2D facial recognition, 3D facial recognition, and facial analytics are the leading types of facial recognition in the market.
Security and law enforcement, healthcare, and retail, among others, are the significant applications of the product in the market.
The major players in the market are Panasonic Corporation, Thales SA, NEC Corporation, Cognitec Systems GmbH, Aware, Inc., Ayonix Face Technoligies Inc., Microsoft Corporation, FaceFirst, Inc., Fujitsu Limited, and FACEPHI BIOMETRÍA SA, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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