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Facial Tracking Solution Market Outlook

The facial tracking solutions market revenue estimated to value US$ 3.6 Mn in 2023. The facial tracking solutions market is expected to reach US$ 16.4 Mn by 2033, growing at a CAGR of 15.2% for 2023 to 2033.

Estimated Year (2023) Market Value

US$ 3.6 Mn

Projected Year (2033) Market Value

US$ 16.4 Mn

CAGR% (2023 to 2033)

15.2%

Top 5 Vendor Market Share

34%

Facial tracking is the process of recognising or confirming someone's identity by glancing at their face. It records, analyses, and compares methods that rely on a person's facial traits. The face detection method is a vital first step in identifying and locating human faces in images and videos.

The surveillance industry's expanding prominence is projected to fuel the facial tracking market. Global surveillance has increased due to an increase in cyber-attacks, terrorist operations, and identity theft. Facial tracking is being used by private and public organizations to provide strong protection by accurately identifying persons for access control.

As a result, organizations and end users are widely implementing these solutions to ensure the long-term success of their enterprises. It is a part of the biometric market.

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2018 to 2022 Facial tracking solutions Market Demand Outlook compared to 2023 to 2033 Forecast

The CAGR for compliance and traceability market is expected to vary from 16.4% in 2018 to 22 to 15.2% in 2023 to 2033.

Through the use of face photos and speech-to-text recognition, Facial tracking technology assists in the identification of staff and guests, as well as providing access to the physical office.

Airports across the globe are implementing facial recognition technology to allow paperless identification to allow quick and hassle-free identification. This development should help the growth of the facial recognition solutions.

Increase in the Adoption of Face Tracking Technology for Improved Safety and Medical Monitoring

Face recognition technology is important in identifying and authenticating an individual based on his or her unique facial features. It then saves the information as a face image. It also makes the visitor sign-in and sign-out process easier. This allows healthcare practitioners to monitor the patient's health status more easily and in real time.

Sudip Saha
Sudip Saha

Principal Consultant

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Regional Analysis

During the forecast period, North America is expected to have the largest market for Facial tracking solutions with a market share of 32.0%. The use of Facial tracking solutions in North America will be fuelled by the growth of the manufacturing, healthcare, and IT & telecom industries.

With a CAGR of 15.2% South Asia & Pacific is set become the fastest growing region in the facial tracking solutions market.

Country wise insights

High Demand for Face Tracking Solutions as A Standard in USA

Face tracking solutions have gone up in demand in US; this is because an increasing number of businesses are working on improving their systems of access control. For example, Precise Biometric, a company that manufacturers authentication products, released an upgrade. The company confirmed the incorporation of real - time intrusion detecting capabilities into face recognition-based physical access control systems. Such advancements are encouraging the adoption of access control technology, resulting in larger revenues.

These factors lead to USA having the highest market share of 34.6%.

China boasts The Most Significant Public Monitoring System in The World

As numerous government agencies in the country have implemented surveillance technologies, China is one of the leading customers and suppliers of facial tracking technology. The country currently boasts the most significant public monitoring system.

These factors lead Germany to have the market share of 19.3%.

India has approved the nationwide implementation of its Automated Facial Tracking System

India has approved the nationwide implementation of its automated facial tracking system, which will allow cranial biometric data to be extracted from surveillance cameras and video and paired with the portrait of persons' images whose identity information is stored in a dataset by the National Crime Records Bureau, which reports to the Minister of State for Home Affairs.

The Indian government's Aadhaar initiative is one of the world's largest biometric databases, with over 95% of the country's 1.3 billion people using it. The UIDAI includes a civilian's thumbprint, face recognition, and iris recognition. Citizens in the country are currently actively employing software for identification, mainly to gain access to various government perks, processes, and facilities. Thus India has the market share of 16.4%

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Category wise Insights

The Use of Facial Identification Technology for Methods of Payment Reduces the Requirement for Multiple Payment Options in E-Commerce

Face recognition technology is being rapidly used by the e-commerce and retail sectors in order to increase operational efficiency and the in-store experience. Customers previously made payments using a variety of electronic cash, credit, or QR code.

These payment methods require numerous POS terminals and a high level of staff engagement, but the use of facial identification technology for methods of payment reduces the requirement for spectrum of options. Customers can pay their bills quickly by reading their faces on smart phones or at kiosks, resulting in more secure, rapid, and user-friendly payment.

Due to these factors e-commerce and retail has a share of 38.6%.

The Use of Face Tracking Technology or Border Protection and Target Detection Is Increasing

The increasing amount of government and defence investments in deploying facial tracking software for a variety of activities such as border protection and target detection is pushing the use of face detection technology services and products because facial tracking simplifies identification and verification, it is commonly used in airport immigration as well as participation tracking and surveillance. Growing technological breakthroughs across industries are prompting businesses to employ facial tracking services and solutions for easier manual operations and time savings.

These factors contribute in government and defence having the market share of 20.3%.

Competitive Landscape

Several manufacturing industries are coming forward to use face tracking in their applications, creating opportunities for companies,

  • In February 2021, SAFR, a touch less biometrics solutions provider based in the United States, has teamed with Convergint Technologies. Convergint shall add its SAFR object recognition system to its platform of unified software solutions as part of this cooperation, providing the industry's top biometric system for real time video analytics to its customers in the US
  • In May 2021, Honeywell, a multinational business based in the United States that supplies intelligent buildings services for aviation, military, manufacturing, and other industries, has teamed with Idemia. The collaboration intends to develop solutions that will allow occupants to interface with a building in a frictionless and secure manner, from car identification in the carport to autonomous elevators.

Scope of report

Attribute

Details

Market value in 2023

US$ 3.6 Mn

Market CAGR 2023 to 2033

15.2%

Share of top 5 players

34%

Forecast Period

2023 to 2033

Historical Data Available for

2018 to 2022

Market Analysis

USD Million for Value

Key Regions Covered

North America, Latin America, Europe, South Asia & Pacific, East Asia and the Middle East & Africa

Key Countries Covered

USA, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Australia & New Zealand, GCC Countries, Turkey and South Africa

Key Segments Covered

Technology type, Industrial Vertical, Component and Region

Key Companies Profiled

  • Safran SA
  • NEC Corporation
  • Gemalto
  • Cognitec Systems
  • Aware Inc.
  • Daon Inc.
  • FaceFirst Inc.
  • Key Lemon Ltd.
  • Ayonix Corporation
  • Face++

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Facial Tracking Solutions by Category

Technology type:

  • Online
  • Offline

Industrial Vertical:

  • BFSI
  • Government and Defence
  • Retail & E-commerce
  • Healthcare
  • Education
  • Automotive

Component:

  • Software
  • Services

Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia and Pacific
  • Middle East & Africa

Frequently Asked Questions

Which are some leading companies which offer Facial tracking solutions?

A: Safran SA, NEC Corporation, Gemalto, Cognitec Systems, Aware Inc., Daon Inc., FaceFirst Inc., Key Lemon Ltd., Ayonix Corporation, Face++ are some major companies.

Which region is expected to showcase high growth in Facial tracking solutions demand?

South Asia & Pacific is expected to show high growth in facial tracking solutions.

What are the driving demands for implementing Facial tracking solutions?

Requirement of precise security systems is the driving demands for implementing Facial tracking solutions.

Which industry has the largest market share for the Facial tracking solutions?

Retail and e-commerce has the largest market share for the facial tracking solutions

Which product has the highest CAGR for the Facial tracking solutions?

government and defence have the highest CAGR for the facial tracking solutions.

Which are the top five countries for Facial tracking solutions market?

The Top 5 countries are USA, Germany, China, India, and Japan.

What is the market share and value for the South Asia and Pacific region?

The market share and value for the South Asia and Pacific region is 12.1%

Which country has the highest CAGR for the forecast period?

India has the highest CAGR for the forecast period 2023-2033.

What was the CAGR for the forecast period 2018 to 2022 for Facial tracking solutions market?

15.2% was the CAGR for the forecast period 2018-2022 for Facial tracking solutions market.

Which East Asian Country had the largest market share for Facial tracking solutions for the year 2022?

China has the highest market share for 2022 for the facial tracking solutions market.

What Factors Are Influencing the Growth for the Facial Tracking Solutions Market?

Growing concerns for public safety and use of the solution for identification in numerous sectors

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Facial Tracking Solution Market

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