• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

Smartphone Industry Contributing to Growing Facial Recognition Market

May 29, 2019

‘The report highlights several key players in the facial recognition market, including NEC, FaceFirst, and Cognitec…’

Smartphone Industry Contributing to Growing Facial Recognition Market

Reports and Data is predicting that the facial recognition market will hit $11.3 billion by 2026. The research firm attributes the projected growth to the booming smartphone market, as well as the rising frequency of terrorist attacks and the corresponding demand for high-quality surveillance.

The $11.3 billion figure comes from a new report by Reports and Data, and is based on a $4.53 billion market valuation in 2018 coupled with a CAGR of 12 percent. North America accounted for the largest share of the market (36.5 percent) in 2018, although the Asia Pacific region is expected to display the most growth (a 12.2 percent rate) leading up to 2026.

The report goes on to highlight several key players in the facial recognition space, including NEC, FaceFirst, and Cognitec. Reports and Data repeatedly emphasized security and terrorism concerns, indicating that law enforcement was the biggest segment of the market in 2018 at 37.6 percent.

The numbers are not too far removed from recent reports by Visiongain and Market Research Future, the latter of which forecasted an $8 billion facial recognition market by 2022. Grand View Research previously predicted that the entire biometrics market would hit $59.31 billion by 2025, so $11.3 billion would make facial recognition a significant percentage of that overall total.

–

(Originally posted on FindBiometrics)

Filed Under: Industry News Tagged With: Biometric, Biometric Security, biometrics, face biometrics, facial recognition, industry trends, law enforecement, market forecasts, market reports, Reports and Data

Related News & Articles

FPC Announces Three New Smartphone Integrations

YubiKey Bio Security Key Now in Private Preview Phase

IDEX Announces Several New Hires, Sharpens Focus on Biometric Cards

Primary Sidebar

Register For the Next Virtual Identity Summit

Travel & Hospitality Biometrics Online Summit
Register now!

Tweets

Sponsored Links

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi's product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • ‘Meta Pay’ Plans Hint at Digital ID Applications
  • Google Switches to New In-display Fingerprint Sensor for Upcoming Pixel 6a
  • Meta Deactivates Instagram Filters for Users in Texas and Illinois
  • Selfie Onboarding Specialist Names New CFO
  • Google Wants People to Store Everything in the New Google Wallet

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2022 MobileIDWorld