United States Facial Recognition Market – Growth, Trends, and Forecasts (2020-2025)
The United States Facial Recognition Market research report 2020 provides a basic overview of the industry including definitions, classifications, applications, and industry chain structure. The United States Facial Recognition market report provides information regarding market size, share, trends, growth, cost structure, United States Facial Recognition market competition landscape, market drivers, challenges and opportunity, capacity, revenue, and forecast 2025.
The report delivers a comprehensive overview of the crucial elements of the market and elements such as drivers, current trends of the past and present times, supervisory scenario & technological growth. This report also includes the overall and comprehensive study of the United States Facial Recognition market with all its aspects influencing the growth of the market. This report is exhaustive quantitative analyses of the United States Facial Recognition industry and provides data for making strategies to increase market growth and effectiveness.
Scope of the report:
The report evaluates the growth rate and the Market value based on Market dynamics, growth inducing factors. The complete knowledge is based on the latest industry news, opportunities, and trends. The report contains a comprehensive Market analysis and vendor landscape in addition to a SWOT analysis of the key vendors.
The United States Facial Recognition Market is expected to reach a CAGR of 14.3% during the forecast period 2020 – 2025.
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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global United States Facial Recognition Market: Panasonic Corporation, Gemalto NV (Thales Group), NEC Corporation, Cognitec Systems GmbH, Aware Inc., Clearview AI Inc., Animetrics Inc., Ayonix Corporation, Face First Inc., Idemia France SAS, Daon Inc., BioID Inc., Veritone Inc., and others.
Key Market Trends
Increasing Demand for Surveillance Systems to Enhance Safety and Security
– The demand for surveillance as part of access control is on the rise in the private sector, the level of authentication offered by facial recognition in the space is driving the demand. Enterprises are using technology as a means to ensure only authorized individuals get into facilities such as bank vaults, training centers, board rooms, server rooms, and other sensitive locations.
– Moreover, the most significant facial recognition surveillance system in the region is operated by the FBI. The FBIs ID system maintains a facial recognition database with images of more than 117 million Americans. The FBI conducts, on average, 4,055 searches every month to identify individuals with facial recognition systems.
The US Customs and Border Protection is using a facial recognition system to identify and stop criminals and terrorists at the border. Its new facial comparison biometric system looks at the traveler and compares them to the passport photo.
– In recent times, face recognition has been improved with the use of matching algorithms and neural networks to help in preventing criminal and terrorist activities. For instance, Virginia Beach was recently awarded a grant that will allow cameras to be installed to capture potential criminals and to find missing children, as well as Tampa, Florida is currently making the use of face recognition systems in its popular tourist areas, such as parks and airport arena for security purposes.
– However, the privacy debate around facial recognition is hindering the market growth. In March 2020, the American Civil Liberties Union (ACLU) filed a lawsuit against the Department of Homeland Security (DHS) because of its use of facial recognition technology at airports. Similarly, California, in September, passed a bill to ban the use of facial recognition-equipped cameras by law enforcement.
Healthcare is Expected to Witness Significant Growth
– Facial recognition is slowly gaining momentum in the Healthcare industry, primarily due to the advancements in Artificial Intelligence (AI) that has widened its application across a host of use-cases such as hospital traffic pattern analysis, securing hospital facilities, and recognizing patient fraud, among others.
– The benefits of facial recognition are spreading quickly in the healthcare industry. The technology has the potential to replace passwords or devices to enable quick access to medical records. The National Institutes of Health (NIH) has carried out a new study which strengthened the hypothesis about the effectiveness of AiCures medication adherence solution.
– The technology uses a form of artificial intelligence for facial recognition, to keep track of patients taking correct medication intake, according to a report by Med City News. The findings published in Stroke, a medical journal, were based on a 12-week randomized controlled trial.
– Moreover, the spread of Coronavirus has increased the growth of face recognition in the healthcare industry. Vendors in the region are adopting partnerships to cater to the suddenly spiked demand and provide customized solutions and services. For instance, TensorMark has joined hands with health system University Hospitals to offer solutions with AI and biometric facial recognition technology to ease the process of returning to work amid COVID-19.
Influence of the United States Facial Recognition market report
– Comprehensive assessment of all opportunities and risks in the United States Facial Recognition market.
– United States Facial Recognition market recent innovations and major events.
– A Detailed study of business strategies for the growth of the United States Facial Recognition market-leading players.
– Conclusive study about the growth plot of the United States Facial Recognition market for forthcoming years.
– In-depth understanding of United States Facial Recognition market-particular drivers, constraints, and major micro markets.
– Favorable impression inside vital technological and market latest trends striking the market report.
What are the market factors that are explained in the report?
– Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
– Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
– Analytical Tools: The United States Facial Recognition Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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- United States Facial Recognition Market: Where are the opportunities? What does the future look like for the United States Facial Recognition Market? What will be the market size in the next 5 years?
- Market trends: What is driving the market? Where are the key players? What are their strategies? What is holding the market behind? Where is the industry heading for in the short and long-term? How are new developments expected to change the market?
- Technology: How are RO and new brine concentration technologies shaping the market? What are the new revenue channels which companies can explore for growth?
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