Based on component, market is segmented into software tools and services. By technology, market is segmented into facial recognition software and SDK, middleware, databases, modelling & restructuring, and analytical solutions.
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Facial recognition market refers to computer application that can identify an individual by comparing from a digital image or stored record for that person. This system is basically used for security purposes, though there is increasing interest in other areas.
This technology has received significant attention as it has potential for wide range of applications related to law enforcement and other enterprises. Global facial recognition market is expected to grow at a CAGR of around 21% from 2017 to 2025.
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Based on use case, it is divided into emotion recognition, law enforcement, surveillance & monitoring, and others. By application, it is divided into government, enterprise, and consumer.
Geographical breakdown and deep analysis of each of the aforesaid segments is included for North America, Europe, Asia-Pacific, and LAMEA.
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Increased demand of facial recognition technology in various industry verticals such as government and utilities, military, homeland security, retail, banking, financial services and insurance (BFSI), and others
Rising concerns of security have enforced companies to adopt tools such as CCTV recordings which are examined by facial recognition technique, alarm systems, and source-tagging
The top players in the global facial recognition market include 3M Company, NEC Corporation, Animetrics Inc, Safran Group, and Daon Inc, Aware Inc, Nviso, Ayonix, Keylemon, and Cognitec Systems GMBH (Germany).
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