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$ 3.78 Bn Growth Opportunity in Facial Recognition Market 2021-2025 | Analysis of 25+ Companies | 17,000+ Technavio Research Reports | National News

NEW YORK, Aug. 30, 2021 /PRNewswire/ — A new market research report on the global facial recognition market has been released by Technavio. The market is expected to grow by USD 3.78 billion, progressing at a CAGR of over 12% during 2021-2025. The report presents detailed information on the upcoming trends, challenges, and uncovers successful business strategies adopted by vendors during the crisis.

Discover market potential and make informed business decisions based on qualitative and quantitative evidence highlighted in our report

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Facial Recognition Market Report: Major Facts

Released: Aug 2021

Forecast years: 2021-2025

No. of Exhibits: 123

Companies covered: 25+ companies including dominant players such as ASSA ABLOY AB (Sweden), Aware Inc. (US), Cognitec Systems GmbH (Germany), Fulcrum Biometrics Inc. (US), and IDEMIA (France).

Coverage: Application, technology, and end-user segments and geographical landscape.

Segmentation by Application: Based on the application, the market is segmented by identification and verification. The identification segment generated maximum revenue in the market in 2020. The growth of the market in the identification segment will be significant during the forecast period.

Segmentation by Geography: The facial recognition market size is analyzed across APAC, Europe, North America, South America, and MEA. North America is currently the largest market for facial recognition and the region is expected to retain its position over the forecast period. The facial recognition market in North America is mainly driven by the high adoption of advanced technologies at the initial stages for homeland security and defense. Also, the growing importance of facial recognition in the BFSI sector is expected to contribute to the growth of the facial recognition market in North America during the forecast period. The US is the key market for facial recognition in North America.

Major Growth Driver:

The global facial recognition market is driven by the increasing instances of identity threats. The growing reliance on websites and web applications is increasing the number of identity and data thefts worldwide. Also, the rising popularity of online gaming and social networking platforms is increasing the risk of identity theft. This is forcing end-users to implement secure authentication solutions, which is increasing the use of biometrics. Biometric solutions can incorporate the physical and behavioral features of users, which makes it difficult for hackers to forge identities. Therefore, the rising incidence of identity threats is expected to fuel the growth of the market during the forecast period.

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Table of contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 – 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Identification – Market size and forecast 2020-2025
  • Verification – Market size and forecast 2020-2025
  • Market opportunity by Application

Market Segmentation by Technology

  • Market segments
  • Comparison by Technology
  • 3D facial recognition – Market size and forecast 2020-2025
  • 2D facial recognition – Market size and forecast 2020-2025
  • Market opportunity by

Market Segmentation by End-user

  • Market segments
  • Comparison by End-user
  • Government sector – Market size and forecast 2020-2025
  • BFSI sector – Market size and forecast 2020-2025
  • Transportation sector – Market size and forecast 2020-2025
  • Other sectors – Market size and forecast 2020-2025
  • Market opportunity by End-user

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America – Market size and forecast 2020-2025
  • Europe – Market size and forecast 2020-2025
  • APAC – Market size and forecast 2020-2025
  • MEA – Market size and forecast 2020-2025
  • South America – Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Aware Inc.
  • Cognitec Systems GmbH
  • Fulcrum Biometrics Inc.
  • NEC Corp.
  • Precise Biometrics AB
  • Safran SA
  • Synaptics Inc.
  • Thales Group


  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


Technavio Research

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