The Global Facial Recognition in Security and Surveillance Market is anticipated to reach USD 14.2 billion by 2032, expanding at a CAGR of 14.5% between 2023 and 2032. This rise is being driven by increased demand for advanced security solutions in a variety of industries, including government, law enforcement, healthcare, and banking. In addition, the current COVID-19 epidemic is increasing the need for contactless biometric identification, which is driving the deployment of face recognition technology in security and surveillance applications.
The paper primarily seeks to monitor the evolution of the market’s growth path through 2030 and after the catastrophe. It also delivers long-term market growth estimates for a set length of time. Based on a thorough examination of the industry’s major dynamics and segmental performance, the research provides a comprehensive evaluation of demand, supply, and production situations.
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Regional Scope
- North America
- Europe
- APAC
- South America
- Middle East
- Africa
Key Company
- NEC Corporation
- IDEMIA
- Cognitec Systems GmbH
- Gemalto (Thales Group)
- Aware Inc.
- Ayonix Corporation
- Safran Group
- FaceFirst Inc.
- Panasonic Corporation
- Herta Security
- Innovatrics
- Crossmatch (Part of HID Global)
- Aurora Computer Services Ltd.
- Animetrics Inc
Geographical Analysis
North America is a crucial market for face recognition in security and surveillance due to the rising demand for advanced security solutions in a variety of industries, including government, law enforcement, and commerce. For example, in the United States, the Department of Homeland Security is actively using face recognition technology at airports to improve security screening. Europe is also a large market for face recognition in security and surveillance, owing to the increased adoption of smart city projects, rising security concerns, and rigorous privacy and security requirements. In the United Kingdom, for example, face recognition is used to manage crowds and provide security in public venues such as train stations and stadiums.
Asia-Pacific: Growing investment in smart city initiatives, growing security concerns, and advances in face recognition technology are driving considerable development in facial recognition in the security and surveillance market in the Asia-Pacific region. For instance, face recognition technology is being utilized in China for several purposes, including law enforcement, access control, and public monitoring.
Middle East & Africa: The region is also seeing an increase in the need for face recognition technology in surveillance and security, mostly due to the requirement for stronger security measures in public spaces, commercial buildings, and key infrastructure. For instance, to bolster security protocols, face recognition technology is being implemented in hotels, airports, and other public areas in the United Arab Emirates. Latin America: The growing use of technology across a range of industries and the demand for cutting-edge security solutions are driving the region’s potential market for face recognition in surveillance and security. For instance, public safety applications like law enforcement and entry control in stadiums and other public places employ face recognition technology in Brazil.
Market Driver
The growing demand for improved security and surveillance measures is one major driver for the facial recognition in security and surveillance industry. Facial recognition technology is becoming increasingly used in a variety of security and surveillance applications due to the growing worries about security risks and the requirement for reliable surveillance solutions. Facial recognition technology is being used more and more in security and surveillance applications including border control, access control, video surveillance, law enforcement, and public safety because of its capacity to rapidly and reliably identify people based on their distinctive facial traits.
In security and surveillance applications, facial recognition technology has several benefits such as high accuracy, non-intrusive and contactless operation, and real-time identification. The aforementioned considerations are propelling the need for face recognition technology in security and surveillance applications, as establishments want to fortify their security protocols and ward off potential hazards including unapproved entry, illicit acts, and acts of terrorism.
Furthermore, the development of facial recognition technology is propelling the market for face recognition in security and surveillance because it makes more complex and dependable security and surveillance systems possible. These developments include increased accuracy, speed, and scalability. Therefore, one of the key factors propelling the market for facial recognition in security and surveillance is the growing need for improved security and surveillance measures. This trend is anticipated to support the market’s expansion in the years to come.
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