Facial Recognition market to grow to $6.19B by 2020

In its latest report Marketsandmarkets forecasts the global Advanced Facial Recognition market to grow from $2.77 Billion in 2015 to $6.19 Billion by 2020, at a CAGR of 17.4%. The report, entitled, “Facial Recognition Market by Solution (2D, 3D, Thermal, Emotion, Forensic), by Software (Middleware, Databases), by Hardware (Cameras, Integrated Devices), by End User (Government and Utilities, Consumer and Home) – Global Forecast to 2020”, defines the market for Advanced Facial Recognition based on various solutions, software, hardware end user and regions with an in-depth analysis and forecasting of market sizes. The report also identifies the factors driving this market, various restraints, and opportunities impacting it along with the adoption trends.

With rising crime, governments throughout the globe are looking for new surveillance systems that are able to address these growing security concerns. The advanced facial recognition technology has emerged as one of the leading technologies that is able to address these growing security concerns.

Advanced facial recognition technology is finding increasing deployment by various end users varying from government and utilities sector to enterprises and to consumer and home to address their security concerns effectively.

Within the report, Marketsandmarkets broadly segments the advanced facial recognition market by region: North America (NA), Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America (LA); by solution: 2D facial recognition, 3D facial recognition, thermal facial recognition, emotion facial recognition, mobile facial recognition and forensic facial recognition ; by software: facial recognition software and SDK, middleware, databases, modeling and restructuring and analytics solutions; by hardware: facial recognition scanners, cameras, integrated devices and handheld facial recognition; by end user: government and utilities, enterprises and consumer and home.

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