Posted On: 2019-10-07
North America region acquired 40.2% revenue share in the global facial authentication systems market– 6Wresearch
Global facial authentication systems market is expected to witness significant growth over the coming years on account of booming technology sector and growing demand in commercial and border control application across the globe. By regions, orth America captured majority of the market revenues, in 2018, due to rise in security and surveillance spending amongst government organizations and other private institutions.
According to 6Wresearch, Global Facial Authentication Systems Market is expected to grow at a CAGR of 13.0% during 2019-25. Asia Pacific facial authentication systems market is forecast to witness maximum growth rate over the coming years. The region would be driven by major economies such as China, Japan and India.
Upcoming projects in several countries such as Digi Yatra, Tokyo Olympics, Smart City, Smart Nation and deployment of such systems acrossanks, airports, offices are expected to further propel the demand for facial authentication systems globally during the forecast period.
According to Kanchan Negi, Senior Research Analyst, Research and Consulting, 6Wresearch, Presently, North America and Europe are the leading revenue generating markets for facial authentication systems. Technological advancement, large population, growing awareness and increased government spending on security systems are some of the key reasons for the growth of facial authentication systems market in these countries.
According to Mansi Bisht, Research Associate, Research and Consulting, 6Wresearch, Globally, the law enforcement application area captured majority of revenue share at present and the same trend is expected to witness over the coming years due to increased government spending in security systems for the purpose of criminal identification & investigation. However, border control would register highest growth in global facial authentication systems market owing to higher adoption of such systems at airports and non-airport border crossing.
Some of the key players in Global facial authentication systems market include: NEC Corporation, Idemia France SAS, Thales Group and Hikvision Digital Technology Co., Ltd.
"Global Facial Authentication Systems Market (2019-2025)" report provides an in-depth analysis with 198 above figures covered in more than 300 pages. The report estimates and forecast the Global facial authentication systems market by revenues, component types, applications, and regions including Asia Pacific, Middle East, North America, Latin America, Europe and Africa. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.