Increasing Demand for Cashless Fuel Transactions To Drive The Global Facial Recognition Market

Market Research Future (MRFR) will be publishing a cooked research report on the “Global Facial Recognition Market” that contains Information from 2022 to 2030. 

MRFR recognizes the following companies as the key players in the global Facial Recognition market: Cognitec Systems GmbH (Germany), Aware Inc. (US), Facefirst. All (US),  NEC Corporation (NEC), Dell Inc.(US), Thales Digital Identity and Security (US), Daon, Inc (US), Ayonix Corporation (Japan), kairos AR, Inc (US), Key Lemon Ltd (Switzerland), Safran S.A (France), Face++ (China), Fareclock (US), Nuance Commuication, Inc (US), Google LLC (US), Intel Security Group (US), 3M Company (US), Advanced Micro Devices, Inc (US), Animetrics, Inc (US), Apple, Inc (US), AsusTek Computer Inc. (Taiwan), Allied Times USA Inc (US), and  Lenovo Group Limited (China).

Market Highlights

The global Facial Recognition market is projected to be valued at USD 22.1 Billion by the end of 2032, registering a CAGR of 16.71 % during the forecast period.

The growing criminal attacks on public places such as airports, bus & railway stations, multiplexes, and others have demanded more secure safety solutions by people. Facial recognition is one of those highly secured safety solutions which can identify these critical social issues and can deliver the desired results. Airport protection system around the world is taking high interest in implementing facial recognition system for providing high security for airline staff office and passengers. Earlier, only a few airports namely Brisbane, Cairns, & Melbourn in Australia, and FYI airport in California, has installed facial recognition system for airport security purpose. However, now governments of other major countries have also approved the installation of facial recognition systems at their respective international airport. One of the popular facial recognition systems installed at the airport is SmartGate, an automated border processing system that permits self-processing passport checks on the airport. The growing interest of the government in implementing facial recognition technology to reduce crime is developing interest in market players to invest in the technology and upgrade it for the future thereby expected to drive the facial recognition market globally.

Governments all over the world are highly concerned about implementing facial recognition solutions in order to reduce the crime rate in the country. For instance, the US government has been building facial recognition databases to aid in investigations. Further, half of the U.S. police departments are using facial recognition software to compare surveillance images with the databases and ID proof of the suspect. Developing country India is also showing high growth opportunity for facial recognition systems as it can be beneficial to overcome crimes over ATM frauds and to reduce voter frauds during the election.  The high adoption of facial recognition by law enforcement agencies and government to get better results in investigating a crime with high proportion of identifying the suspect is driving the high growth of facial recognition systems in the forecast period.

COVID-19 Impact Analysis

The facial recognition demand was increased for monitoring and tracking people's movement, verification identification, security measures, and patient identification due to the pandemic, which positively influenced the growth of the facial recognition market. Additionally, it is anticipated that the facial recognition market will grow in the upcoming years due to the widespread deployment of facial recognition systems in a variety of applications, including biometric sign-in, public security, travel security, authorized healthcare services, and eLearning platforms. For instance, in 2020, Telepower Communication Co., Ltd., the world's leading smart solutions provider, deployed a face recognition technology, as an alternative to fingerprint scanners, and for identifying people without any close contact.

Segment Analysis

The global Facial Recognition market has been segmented on the basis of technology, service type, component, end-user, and region.

The global Facial Recognition market, based on technology has been segmented into 3D facial recognition, 2D facial recognition, thermal imaging, skin texture analysis, and others.

The global Facial Recognition market, based on service, has been segmented into consulting and cloud-based services.

The global Facial Recognition market, based on components, has been segmented into hardware and software.

The global Facial Recognition market, based on end-user has been segmented into government, BFSI, commercial retail, automotive, and others.

Key Findings of the Study:

• The global Facial Recognition market is projected to reach a value of USD 22.1 Billion by the end of 2032, with a CAGR of around 16.71% during the forecast period from 2024 to 2032.


• North America accounted for the largest market share in 2021. The market consists of the US, Canada, and Mexico. The US was the highest revenue-generating country owing to the presence of numerous players. In North America, Facial Recognition is used in security and law enforcement applications to monitor border management, defense, employee screenings, healthcare, security, and more. The government organizations in these regions are in charge of national security in important public areas like international airports, police stations, hospitals, and hotels in order to combat and lessen terrorism. Such factors are driving the market in North America. 


• Europe is expected to be the second-largest market in 2021. The countries have been deploying facial recognition technology across government, healthcare, transportation, and BFSI, among other sectors. Also, European countries have adopted a Facial Recognition solution to tighten their border security that including Austria, Switzerland, Germany, Lithuania, Luxembourg, Latvia, the Netherlands, Poland, Portugal, and Slovenia.


• The  US is among the top contributors in the Facial Recognition s market. The country has already deployed Facial Recognition at airports for transportation security administration screening, and Facial Recognition for tracking inmates in the prison system. The US government is largely pursuing a public-private partnerships model to implement biometrics across various sectors and promote collaboration and co-investment, thereby driving the US Facial Recognition market growth. Lack of knowledge and awareness leading to technical challenges is the key opportunity in this market.