Market Analysis and Insights: Global Face Recognition Device Market

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$ 1329 million in 2022 and is forecast to a readjusted size of US$ 4161.5 million by 2029 with a CAGR of 17.5% during the forecast period 2023-2029. Fully considering the economic change by this health crisis, Access Control System accounting for % of the Face Recognition Device global market in 2022, is projected to value US$ million by 2029, growing at a revised % CAGR from 2023 to 2029. 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.

Global Face Recognition Device Scope and Market Size

The global Face Recognition Device market is segmented by company, region (country), type and application. Players, stakeholders, and other participants in the global Face Recognition Device market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by region (country), type and application for the period 2018-2029.


Segment by Type


Access Control System

Ticket Gates System

Others


Segment by Application


Transportation

BFSI

Residential

Non-financial Enterprises

Others

By Region

United States

Europe

China

Japan

Southeast Asia

India

Other Regions


By Company


Cloudwalk

Dahua Technology

Aurora

Insigma Group

Face++

PCI

CMOLO

IDEMIA (France)

Anviz

Adatis GmbH&Co. KG

ColosseoEAS

Artec Group

EnterFace

IDTECK Co Ltd.

Bioenable