Global Facial Tracking Solutions Market, By Components (Software Tools, Services), Application Area (Emotion Recognition, Attendance Tracking And Monitoring, Access Control, Law Enforcement, Other Application Areas), Vertical (Banking, Financial Services And Insurance, Government And Defense, Retail, Ecommerce, Healthcare, Education, Automotive, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights Global Facial Tracking Solutions Market
Data Bridge Market Research analyses that the facial tracking solutions market will exhibit a CAGR of 14.95% for the forecast period of 2022-2029 and is expected to reach the market value of USD 10.73 billion by 2029.
Facial tracking technology is a biometric application that is commonly used in shopping malls and airports for security and identification. This technology is also used in smart phones for locking and unlocking features, as well as signing in and paying with various mobile apps. This technology is useful because it can recognise and verify an individual from a digital image or video. It primarily works by capturing an image of someone and combining face analytics with the available database.
The rising demand for cloud-based facial recognition technology is expected to boost market growth. Other factors such as growth in the surveillance industry, security concerns, technological advancement in facial tracking solutions, increasing demand from the government and defence sectors, and rising consumer electronics adoption will all help to accelerate the facial tracking solution during the forecast period.
Facial recognition ensures high levels of security in both the public and private sectors. The significant increase in terrorist attacks on government organisations in recent years has pushed businesses and governments to adopt facial recognition biometrics. Furthermore, the growing use of facial recognition in physical security and intelligent signage, as well as technological advancements such as cloud-based services and 3D-based recognition systems, has increased its use.
However, rising sensitivity to shared personal data, a lack of accuracy, and high implementation costs are impeding market expansion in some regions. Face recognition systems that are technologically advanced and have applications in mobile security and drones are likely to create more opportunities in the future.
This facial tracking solutions market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on facial tracking solutions market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Facial Tracking Solutions Market Scope and Market Size
Facial tracking solutions market is segmented on the basis of component, application area and vertical. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- The component segment of the facial tracking solutions market is divided into software tools and services. Software tools are further divided into 2D facial recognition, 3D facial recognition and facial analytics. Services segment is divided into training and consulting and cloud based facial recognition.
- Application area segment of the facial tracking solutions market is divided into emotion recognition, attendance tracking and monitoring, access control, law enforcement and other application areas.
- On the basis of vertical, the facial tracking solutions market is segmented into banking, financial services and insurance, government and defense, retail and ecommerce, healthcare, education, automotive and others.
Facial Tracking Solutions Market Country Level Analysis
Facial tracking solutions market is segmented on the basis of component, application area and vertical.
The countries covered in the facial tracking solutions market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific will experience significant growth in the facial tracking solutions market from 2022 to 2029, owing to increased demand from various industries such as banking, financial & insurance, healthcare, and others, as well as increased government investment in surveillance and security infrastructure, whereas North America is expected to dominate the market due to increased investment in facial tracking solutions in the region.
The country section of the facial tracking solutions market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Facial Tracking Solutions Market Share Analysis
The facial tracking solutions market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points are only related to the companies’ focus on the facial tracking solutions market.
Some of the major players covered in the facial tracking solutions market report are Herta Security, FacePhi, Sightcorp., Beijing Kuangshi Technology Co., Ltd., FaceFirst, Animetrics, Inc., id3 Technologies, Innovatrics, Neurotechnology, Techno Brain, StereoVision Imaging, Inc., Cognitec Systems GmbH, IDEMIA, Daon, Ayonix Corporation, Aware, Inc., NEC Corporation, Thales Group, Panasonic Security Solutions,, Expedient, BIOS Middle East Group, Veeam Software, Internap Holding LLC and Fine Telecommunications, Inc. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.