Defense Speak Interpreted: Is DARPA Still Around After CHIPS?
Beyond the Board: Orbital High Ground—Why Space Superiority Is Slipping Away
The Government Circuit: Trump’s Trade War Disrupts the Electronics Ecosystem
Global Facial Recognition Market Outlook, 2019 to 2024
July 9, 2019 | Business WireEstimated reading time: 1 minute
The global facial recognition market size is projected to grow from $3.2 billion in 2019 to $7 billion by 2024, at a CAGR of 16.6% during 2019 to 2024.
The rising need for surveillance has become one of the major factors to drive the facial recognition market. The advent of new technologies, such as high-definition Closed Circuit Television (CCTV) and high-resolution 3D facial recognition technologies, along with iris recognition and emotion detection, has enhanced the facial recognition market. However, the integration of new facial recognition technologies with the existing legacy system is limiting the growth of facial recognition solutions in the market.
Government and defence sector among verticals to gain maximum traction during the forecast period
The increasing need for facial recognition-enabled biometrics solutions for identity management, border management, and homeland and military security management has fueled government organizations to largely implement facial recognition technologies. Additionally, government-owned large-scale programs, such as smart cities and smart transportation, need the adoption of facial recognition solutions.
3D Facial Recognition Software Tools to Hold the Largest Market size during 2019 to 2024
3D facial recognition software is capable of analyzing, identifying, and verifying facial characteristics of individuals. It overcomes the drawbacks of 2D facial recognition and can work in low light or completely dark areas. 3D facial recognition technology is used mostly in cross-border monitoring, document verification, and identity management.
Asia Pacific to Grow at the Highest CAGR during 2019 to 2024
The Asia Pacific (APAC) region has a great scope for growth in the facial recognition market in terms of usage of the facial recognition solution. The facial recognition market in APAC is anticipated to grow significantly, due to huge governmental investments in security and surveillance infrastructure, increased public awareness, and the emergence of refined technologies backed by analytics. Furthermore, growth is anticipated with technological advancements, along with the mandatory regulations imposed by government regulatory entities to adopt the best-in-class technologies and standards. The fast expansion of regional enterprises in the APAC region is another crucial variant contributing to the growth of the facial recognition market.
Share on:
Suggested Items
I-Connect007’s Editor’s Choice: Five Must-Reads for the Week
07/04/2025 | Marcy LaRont, I-Connect007For our industry, we have seen several bullish market announcements over the past few weeks, including one this week by IDC on the massive growth in the global server market. We’re also closely watching global trade and nearshoring. One good example of successful nearshoring is Rehm Thermal Systems, which celebrates its 10th anniversary in Mexico and the official opening of its new building in Guadalajara.
Weather RADAR Market Set to Hit Valuation of US$ 816.19 Million by 2033
07/04/2025 | PRNewswireThe global weather RADAR market was valued at US$ 158.43 million in 2024 and is projected to reach US$ 816.19 million by 2033, growing at a CAGR of 21.42% during the forecast period 2025–2033.
Philippines PC Market Falls 12.2% in Q1 2025 as Education Demand Slows
07/04/2025 | IDCAccording to the International Data Corporation (IDC) Worldwide Quarterly Personal Computing Devices Tracker, Q1 2025, the Philippines' traditional PC Market (desktops, notebooks, and workstations) dropped by 12.2% YoY in Q1 2025 to 617 thousand units.
SMT007 Magazine July—What’s Your Competitive Sweet Spot?
07/01/2025 | I-Connect007 Editorial TeamAre you in a niche that’s growing or shrinking? Is it time to reassess and refocus? We spotlight companies thriving by redefining or reinforcing their niche—what are their insights? In the July 2025 issue of SMT007 Magazine, we spotlight companies thriving by redefining or reinforcing their niche and offer insights to help you evaluate your own.
Global Dry Film Photoresist Market Set for Robust Growth with Expanding Semiconductor Ecosystem
06/24/2025 | PRNewswireIn 2024, the global market size of Dry Film Photoresist was estimated to be worth US$939 million and is forecast to reach approximately US$1191 million by 2031 with a CAGR of 3.5% during the forecast period 2025-2031.