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Key players in the Facial Recognition market include NEC Corporation, Cognitec Systems, Aware Inc., FaceFirst Inc., Safran SA, Panasonic Corporation, Gemalto NV, Key Lemon Ltd., Ayonix Corporation, and Face++.Vancouver, British Columbia, April 27, 2021 (GLOBE NEWSWIRE) -- The global facial recognition market size is expected to reach USD 13.87 Billion at a steady CAGR of 15.7% in 2028, according to latest analysis by Emergen Research. This steady market revenue growth can be attributed to increasing demand for biometric identity based on cloud technology and continuous adoption of intelligent signage technologies. Rising investments by market leaders in technology to launch facial expression, emotion to identify users, and development of more user-friendly technologies are other key factors boosting facial recognition market growth. Rising need for advanced security and surveillance in commercial and banking, financial services, and insurance sectors is another key factor contributing to global market growth. Rising concerns regarding rapid increase in number of terrorist attacks on institutional, industrial, and governmental organizations in recent years is also boosting need for deployment of facial recognition solutions. Claim Your FREE Sample Copy with Table of content@ https://www.emergenresearch.com/request-sample/640 Key Highlights From the Report In January 2021, Aware Inc., which is a global provider of biometrics software products, announced launch of an Automated Biometric Identification System (ABIS), used for large-scale biometric identification and DE duplication. ABIS is a modular identity management framework that supports fingerprint, face, and iris modalities, and is designed to serve between 1 and 30 million identities. It has a modular architecture that allows security teams to configure and customize the system for civil or criminal applications.Software segment accounted for largest revenue share in the facial recognition market in 2020. Increasing cloud-based biometric technology, identification of user, and increasing accuracy in face detection tools are other factor boosting facial recognition market growth.3D facial recognition segment revenue growth rate is projected to incline rapidly during the forecast period. Increasing concerns regarding physical security and use of AI in biometric information are some other factors driving market growth segment.Government accounted for largest revenue share in the facial recognition market in 2020. Increase prevalence of infectious diseases resulting in rapid adoption of face recognition technology in healthcare sectors is expected to boost market growth during the forecast period.Asia Pacific revenue is expected to expand at a rapid CAGR during the forecast period. Rising need for video surveillance technology, increasing AI-based technology such as face identification, biometric recognition of persons in various sectors in developing economies are other factors expected to contribute to growth of the facial recognition market in the region during the forecast period.Key players in the market include NEC Corporation, Cognitec Systems, Aware Inc., FaceFirst Inc., Safran SA, Panasonic Corporation, Gemalto NV, Key Lemon Ltd., Ayonix Corporation, and Face++. Check Our Prices@ https://www.emergenresearch.com/select-license/640Emergen Research has segmented the global facial recognition market on the basis of component, technology, application, end use, and region: Component Outlook (Revenue, USD Billion; 2018–2028) HardwareSoftware Technology Outlook (Revenue, USD Billion; 2018–2028) 2D Facial Recognition3D Facial RecognitionFacial Analytics Application Outlook (Revenue, USD Billion; 2018–2028) Physical SecurityID ManagementCriminal InvestigationBusiness IntelligencePhoto Indexing and Sorting End use Outlook (Revenue, USD Billion; 2018–2028) BFSIIT & TelecommunicationHealthcareGovernment Click to access the Report Study, Read key highlights of the Report and Look at Projected Trends: https://www.emergenresearch.com/industry-report/facial-recognition-market Regional Outlook (Revenue, USD Billion; 2018–2028) North America U.S.CanadaMexico Europe GermanyFranceU.K.BENELUXSwitzerlandRest of Europe Asia Pacific ChinaJapanSouth KoreaIndiaRest of APAC Latin America BrazilRest of LATAM Middle East & Africa Saudi ArabiaUAESouth AfricaTurkeyRest of MEA Take a Look at our Related Reports: AI-Enabled Medical Imaging Solutions Market By Product (Software, Hardware), By Workflow (Image Acquisition, Image Analysis, Reporting, and Communication), By Therapeutic Application (General Imaging, Specialty Imaging), By Deployment Mode, By Modality, and By Region, Forecasts to 2027 Smart Factory Market By Component (Industrial Robotics, Sensors, Control Devices, Industrial Network, Machine Vision), By Solution (PLC, PLM, MES, ERP, SCADA), By Industries (Process Industries and Discrete Industries), Forecasts to 2027 Smart Manufacturing Market By Information Technology (Manufacturing Execution System, Industrial Communication), By Enabling Technology (Industrial Robotics, IIoT), By Industry (Aerospace & Defense, Automotive), Forecasts to 2027 About Emergen Research Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors. Contact Us: Eric Lee Corporate Sales Specialist Emergen Research | Web: www.emergenresearch.com Direct Line: +1 (604) 757-9756 E-mail: [email protected] Facebook | LinkdIn | Twitter | Blogs Read Full Press Release@ https://www.emergenresearch.com/press-release/global-facial-recognition-market