PUBLISHER: The Business Research Company | PRODUCT CODE: 1675249
PUBLISHER: The Business Research Company | PRODUCT CODE: 1675249
Facial recognition is a method of identifying or verifying someone by analyzing patterns based on their facial characteristics. It records and analyzes facial features, comparing the results to confirm identity. Face detection is a necessary first step to identify and locate human faces in pictures and videos.
The facial recognition market primarily relies on three main technologies: 2D, 3D, and facial analytics. In 2D face recognition technology, a camera captures an image of the subject, which is then stored for subsequent use. Facial recognition finds applications in various areas, including emotion recognition, attendance tracking and monitoring, access control, as well as security and surveillance. This technology is predominantly utilized across different sectors such as retail and e-commerce, media and entertainment, banking, financial services and insurance (BFSI), automobile and transportation, telecom and information technology (IT), government, healthcare, and others.
The facial recognition market research report is one of a series of new reports from The Business Research Company that provides facial recognition market statistics, including facial recognition industry global market size, regional shares, competitors with a facial recognition market share, detailed facial recognition market segments, market trends and opportunities, and any further data you may need to thrive in the facial recognition industry. This facial recognition market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The facial recognition market size has grown rapidly in recent years. It will grow from $6.94 billion in 2024 to $7.92 billion in 2025 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to security and surveillance applications, government initiatives for national security, rise of smartphones and consumer electronics, biometric authentication in financial services.
The facial recognition market size is expected to see rapid growth in the next few years. It will grow to $15.33 billion in 2029 at a compound annual growth rate (CAGR) of 17.9%. The growth in the forecast period can be attributed to privacy-preserving solutions, COVID-19 pandemic response, enhanced security in airports and transportation, expanding use in education. Major trends in the forecast period include contactless biometric authentication, enhanced accuracy with AI and deep learning, privacy and ethical considerations, expansion in public safety and security.
The growing significance of the surveillance industry is anticipated to boost the facial recognition market. The rise in cyberattacks, terrorist activities, and identity theft incidents worldwide has heightened the need for surveillance. Both private and public organizations are implementing facial recognition technology to enhance security by accurately identifying individuals for access control. The adoption of smart surveillance systems that utilize facial recognition is on the rise. For example, in January 2024, Comparitech, a U.S.-based software company, reported that Washington, DC, is equipped with 35,082 cameras covering 61.14 square miles, resulting in 573.8 cameras per square mile. Atlanta, Georgia, follows with 60,864 cameras across 135.74 square miles, equating to 448.4 cameras per square mile. San Francisco, California, has 18,200 cameras for 46.9 square miles, yielding 388.1 cameras per square mile. Philadelphia, Pennsylvania, features 46,957 cameras over 134.28 square miles, translating to 349.7 cameras per square mile. New York City, New York, boasts 70,882 cameras covering 300.38 square miles, which is 236 cameras per square mile. Thus, the increasing significance of the surveillance industry is expected to drive growth in the facial recognition market.
The facial recognition market is poised for growth due to the increasing incidence of robberies and crime rates. Robbery, defined as the criminal act of taking or attempting to take property from another person or entity by force, threat, or intimidation, has prompted law enforcement agencies to leverage facial recognition technology as a valuable tool in the fight against crime. This technology aids in the rapid identification, tracking, and apprehension of suspects by allowing for quick and accurate matching of facial features captured in surveillance footage or crime scenes. Such applications contribute to efforts aimed at enhancing public safety and preventing criminal activities. As an illustration, in February 2022, according to the New York City Police Department, the city experienced a 58.7% increase in overall index crime, rising from 5759 cases in 2021 to 9138 cases in 2022. Robbery cases specifically saw a 56% increase, climbing from 2099 in 2021 to 3762 in 2022. Therefore, the rising incidence of robberies and crime rates is a significant driver for the growth of the facial recognition market.
Major companies in the market are incorporating artificial intelligence (AI) into facial recognition to enhance the accuracy and efficiency of these systems. For instance, in April 2023, Suprema AI, a Korea-based provider of AI-based integrated security solutions, introduced Q-Face Pro, a high-performance AI facial recognition OEM (original equipment manufacturer) module. Utilizing its AI-driven facial recognition algorithm and Neural Processing Unit (NPU), Q-Face Pro can identify faces up to 50,000 times faster and with greater accuracy than other facial recognition devices. Additionally, it delivers highly precise authentication performance and excels in detecting fake faces.
Major players in the facial recognition market are directing their focus towards technological innovation, with an emphasis on background-check databases to enhance the capabilities of facial recognition. A background-check database serves as a tool in the process of background verification, revealing information about an individual's past conduct. For example, in December 2022, Verify, a US-based company offering performance management solutions, introduced the world's first publicly available background-check database designed to support facial recognition. Known as Verify Faces, this service assists individuals in making more informed decisions about potential dating partners, coworkers, business associates, or any other interactions. It furnishes essential background information, including criminal and civil court reports, birthdate, address and phone number history, and social security number validation.
In May 2023, Salto, a security products manufacturer based in Spain, acquired TouchByte for an undisclosed sum. This acquisition aligns with Salto's strategy to improve its biometric-based access control offerings and develop more advanced facial recognition access control solutions. TouchByte is a UK-based provider of facial recognition technology.
Major companies operating in the facial recognition market include NEC Corporation, SenseTime Group Inc., Idemia Group S.A., Megvii Inc., CyberLink Corp., FacePhi S.L., Raydiant Inc., Paravision Inc., Aware Inc., FaceFirst Incorporated, Innovatrics Inc., Ayonix Corporation, Herta Security GmbH, Polaris Sensor Technologies Inc., Cognitec Systems GmbH, Animetrics, Rank One Computing Inc., DeepVisionAI Inc., AnyVision Interactive Technologies Ltd., FaceTec Inc., BioID AG, Applied Recognition Inc., XRVision Pte Ltd., Tech5 S.A., Pangiam Trueface Corporation, Clearview AI Inc., Kairos AR Inc., Neurotechnology LLC, ImageWare Systems Inc., KeyLemon S.A., VicarVision B.V.
North America was the largest region in the facial recognition market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the facial recognition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the facial recognition market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The facial recognition market includes revenues earned by entities by providing solutions that assist in controlling access to personal devices, homes, cars, offices, and other locations. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Facial Recognition Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on facial recognition market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for facial recognition ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The facial recognition market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.