A facial recognition device stems from a purpose-built combination of high-end hardware components and efficient software to automatically identify or verify a person from a digital image, as required in several Security and Surveillance installations. The identification process is done by comparing the facial features extracted from an image with those previously stored in a facial database.
Due to the COVID-19 pandemic, the global Face Recognition Device market size is estimated to be worth US$ 1581.3 million in 2022 and is forecast to a readjusted size of US$ 4161.5 million by 2028 with a CAGR of 17.5% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Access Control System accounting for % of the Face Recognition Device global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Transportation segment is altered to an % CAGR throughout this forecast period.
Global Face Recognition Device key players include Cloudwalk, Dahua Technology, Face++, Insigma Group, etc. Global top four manufacturers hold a share about 35%.
APAC is the largest market, with a share over 50%, followed by Europe, and Americas, both have a share over 40 percent.
In terms of product, Access Control System is the largest segment, with a share nearly 65%. And in terms of application, the largest application is Transportation, followed by Non-financial Enterprises, BFSI, Residential, etc.
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
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The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
- Access Control System
- Ticket Gates System
Segment by Application
- Non-financial Enterprises
- Dahua Technology
- Insigma Group
- Idemia (France)
- Adatis Gmbh&Co. Kg
- Artec Group
- Idteck Co Ltd.
Production by Region
- North America
Consumption by Region
- North America (United States, Canada)
- Europe (Germany, France, U.K., Italy, Russia)
- Asia-Pacific (China, Japan, South Korea, India, Australia, China Taiwan, Indonesia, Thailand, Malaysia)
- Latin America (Mexico, Brazil, Argentina)
- Middle East & Africa (Turkey, Saudi Arabia, UAE)
Mr. Shirish Gupta
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