North America Facial Recognition Market is expected to reach USD XX Billion by 2026 from USD XX Billion in 2018 at a CAGR of XX% (Detailed analysis of the market CAGR is provided in the report).
North America Facial Recognition Market
Facial recognition is a category of biometric software that maps an individual’s facial features mathematically and stores the data as a face print. The software uses deep learning algorithms to compare a live capture or digital image to the stored face print in order to verify an individual’s identity.
The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
The North America market for facial recognition is segmented into the component, technology, use case, end-use, and geography. Based on a component, the market is divided into software tools, and services. The technology segment for the market includes middleware, facial recognition software, and sdk, databases, analytics solution, modeling and restructuring. By use case, the facial recognition market is divided into access control, emotion recognition, law enforcement, attendance tracking and monitoring. Enterprises, Government, and Others have formed the various end-use areas for facial recognition market.
There are numerous applications of facial recognition system as well as software in North America with most of the companies applying it in the USA. Facebook is one such company that is based in the USA and is using facial recognition software for tagging individuals in numerous photographs. With each tagging of an individual in a photograph, the software stores the complete mapping information related to the person’s facial characteristics.
The facial recognition technology are also being used for numerous applications in North America. It includes:
Online shopping and contactless cards demonstrate the seamlessness of modern purchases. FaceTech is one such technology where customers won’t need their card and will be able to make transactions using their facial features as the passcode.
• Access and security:
Verifying a transaction, facial biometrics are well integrated with physical devices as well as objects. In the place of passcodes, mobile phones along with other consumer electronics can be accessed using the owner’s facial features.
• Criminal identification:
This is extremely useful as it provides law enforcers additional way of tracking criminals all across the country. The AI equipped cameras are used for tracking the faces of the criminals and helps in easy identification as the law agencies keep a track and update the database.
The ability to gather and collate masses of personal information have helped the marketers and advertisers to get closer to their target markets. With correct facial recognition as per age and requirements, the customers are served in a better way, giving them a more personalized experience.
The medical professionals could use facial recognition software to identify illnesses by analyzing a patient’s features. It would help in alleviating the strain to some extent on the medical centers by dropping the waiting lists and streamlining the complete appointment process.
North America is one of the major markets for facial recognition globally with US and Canada forming two major regions profiled under the scope of the study. The technological developments along with rising in security concerns have resulted in the higher application of facial recognition software in North America.
• North America Facial Recognition Market size analysis and forecast
• Comprehensive study and analysis of market drivers, restraints, and opportunities influencing the growth of the North America Facial Recognition market
• North America Facial Recognition Market segmentation on the basis of a component, technology, use case, end-use, and geography
• North America Facial Recognition Market strategic analysis with respect to individual growth trends, future prospects along with a contribution of various sub-market stakeholders have been considered under the scope of a study
• North America Facial Recognition Market analysis and forecast for major countries has been provided.
• Profiling of key industry players, their strategic perspective, market positioning and analysis of core competencies
• Competitive landscape of the key players operating in the North America Facial Recognition Market including competitive developments, investments, and strategic expansion
Years that have been considered for the study are as follows:
• Base Year – 2018
• Estimated Year – 2019
• Forecast Period – 2019 to 2026
For company profiles, 2016 has been considered as the base year. In cases, wherein information was unavailable for the base year, the years prior to it have been considered.
The market is estimated by triangulation of data points obtained from various sources and feeding them into a simulation model created individually for each market. The data points are obtained from paid and unpaid sources along with paid primary interviews with key opinion leaders (KOLs) in the market. KOLs from both, demand and supply side were considered while conducting interviews to get unbiased idea of the market. This exercise was done at country level to get fair idea of the market in countries considered for this study. Later this country specific data was accumulated to come up with regional numbers and then arrive at market value for North America Facial Recognition Market.
The objective of the report is to present comprehensive North America Facial Recognition market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding North America Facial Recognition market North America for Asia Pacific dynamics, structure by analyzing the market segments, and project the North America Facial Recognition market North America for Asia Pacific size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the North America Facial Recognition market North America for Asia Pacific make the report investor’s guide.
Some of the key players of the North America Facial Recognition market include:
• Ayonix Corporation
• Herta Security
• FaceFirst Inc.
• Microsoft Corporation
• XiD Tech
• NuData Security
Key Target Audience:
• ODM and OEM technology solution providers
• Facial Recognition developers
• Technology standards organizations
• Research institutes and organizations
• Government bodies, venture capitalists, and private equity firms
• Market research and consulting firms
• Enterprise data center professionals
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The scope of the North America Facial Recognition Market:
The research report segments North America Facial Recognition market based on component, technology, end-use, use case, and geography.
North America Facial Recognition Market, By Component:
• Software Tools
North America Facial Recognition Market, By Technology:
• Facial Recognition Software and Sdk
• Analytics Solution
• Modeling and Restructuring
North America Facial Recognition Market, By Use Case:
• Access Control
• Emotion Recognition
• Law Enforcement
• Attendance Tracking and Monitoring
North America Facial Recognition Market, By End-Use:
North America Facial Recognition Market, By Geography:
• North America
• Breakdown of US Facial Recognition market
• Breakdown of Canada Facial Recognition market
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