Technological advancement along with increasing awareness among people would drive the growth of Asia Pacific facial authentication systems market during 2019-2025 – 6Wresearch
Asia Pacific facial authentication systems market is anticipated to witness a healthy growth during the forecast period. Factors such as rapidly growing population, technological advancement and increased government spending on security systems are expected to boost the demand for facial authentication systems in this region over the coming years.
According to 6Wresearch, Asia Pacific facial authentication systems market is expected to grow at a CAGR of 20.9% during 2019-25. China and Japan accounted for the highest revenue share in the overall Asia Pacific facial authentication systems market in terms of revenues in 2018. Additionally, India is also emerging as a potential market for such systems owing to rising awareness among public and private enterprises.
Further, upcoming projects such as Digi Yatra, Tokyo 2020 Olympics, Smart City, Smart Nation etc in these countries along with increasing installation of such systems at various banks, airports, offices are expected to propel the demand for facial authentication systems during the forecast period.
According to Kanchan Negi, Senior Research Analyst, Research and Consulting, 6Wresearch,."Growth would be aided in commercial & service based application areas during the forecast period owing to increase in demand for mobile devices with facial recognition feature and adoption of such systems by several banks and hotels across the region.
According to Mansi Bisht, Research Associate, Research and Consulting, 6Wresearch, Law enforcement application area holds majority of the market share at present and the same trend is expected to continue over the coming years due to increased government spending in security systems and for the purpose of criminal identification & investigation.
Some of the key players in Asia Pacific facial authentication systems market include: NEC Corporation, Idemia France SAS, Thales Group and Hikvision Digital Technology Co., Ltd., Megvii technology limited
"Asia Pacific Facial Authentication Systems Market (2019-2025)" report provides an in-depth analysis with 50 figures , covered in more than 150 pages. The report thoroughly covers the market by component types, applications and regions including India, Japan, China, Singapore and rest of the Asia Pacific. The report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
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