Global Facial Recognition Market: Increasing Focus on Infrastructural Growth in North America to Stimulate Growth, says Fortune Business InsightsTM

Regional Insights:

Increasing Adoption of Advanced Facial Recognition Solutions in North America to Favor Growth

Among all the regions, the market in North America is expected to witness exponential growth and register the highest global market revenue during the projected horizon. The market was worth USD 1.73 billion in 2019 and is anticipated to grow owing to high demand for infrastructural growth and increasing adoption of this technology. On the other hand, the market in Asia Pacific is likely to gain momentum in the forthcoming years. This is attributable to factors such as increasing mobile transactions that is propelling the need for effective biometric solutions technology. Additionally, countries such as China in the region are witnessing tremendous growth in the rate of mobile transactions that will favour the market growth.

Competitive Landscape:

NEC Corporation Launches New Facial Biometric System

In May 2020, NEC Corporation, a Japan-based information technology solutions provider, announced the launch of a dual face biometric and fever detection system, NeoFace Thermal Express. According to the company, the ongoing global pandemic has propelled them to provide safety and security for its employees, and the system is designed in a way that it provides contactless access control to several applications while rendering a touch-less experience. Adoption of strategies such as the introduction of novel products, merger and acquisition, and collaboration by the companies to gain a major share of the global facial recognition market is anticipated to bode well for growth during the forecast period.

List of the Companies Proliferating in Facial Recognition Market:

  • NEC Corporation (Japan)
  • Polaris Sensor Technologies, Inc. (U.S.)
  • Aware, Inc. (U.S.)
  • Ayonix Corporation (Japan)
  • Cognitec Systems GmbH (Germany)
  • Herta Security (Spain)
  • Thales Group (Gemalto NV) (Netherlands)
  • Animetrics (U.S.)
  • Daon (Ireland)
  • ID3 Technologies (France)
  • Idemia (France)

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