Asia Pacific Facial Recognition Market – Industry Analysis and Forecast (2022-2027)

Asia Pacific Facial Recognition Market is expected to grow at a CAGR of 23.5% during the forecast period and market is expected to reach US$ 3.57 Bn. by 2027.


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Face recognition is usually described as a biometric technology that attempts to create an individual’s identity. Also known as face detection, this technology works using a computer application used for capturing a digital image of an individual’s face, which are at times taken by a video frame and then comparing it to numerous images within a database of stored records. The facial recognition systems normally employ an algorithm that helps in predicting whether or not there’s any match that is based on multiple points on an individual’s face.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.

The Asia Pacific market for facial recognition is segmented into a component, technology, use case, end-use, and geography. Based on a component, the market is divided into software tools, and services. The technology segment for the market includes middleware, facial recognition software, and sdk, databases, analytics solution, modeling and restructuring. By use case, the facial recognition market is divided into access control, emotion recognition, law enforcement, attendance tracking and monitoring. Enterprises, Government, and Others have formed the various end-use areas for facial recognition market.

Countries in Asia Pacific region are using facial recognition across numerous areas to make sure that there numerous opportunities for the application and growth of facial recognition system and software. In China, citizens and tourists are likely to spot the country’s police force using facial recognition glasses. These special glasses are made for helping officials use the real-time ID authentication to primarily fighting crimes during the celebrations time of the year. In 2017, China had built a giant facial recognition database for identification of its population of more than 1.3 billion within seconds, having a goal of achieving almost 90 percent accuracy. This huge database along with a number of partnerships within the country have helped maintain China’s domination over the physical security equipment market globally.

Japan has also worked on advanced applications of facial recognition. On such application is taking the photograph of a traveler’s face at the immigration counter. The photograph would then be checked in a computer and compared with the photo stored in the passenger’s passport IC chip. This process will help in confirming that both of these photos belong to the same person. Using this system will help every single immigration officer to oversee multiple stations, which in turn release other officers to monitor foreigners during entry and also deal with suspicious individuals. It is expected that there would be more or less no cases of misidentification. As per the conventional entry and exit screenings, there is an immigration officer that usually confirms an individual's identity over an interview-style interaction. Using facial recognition technology will help the immigration officer to oversee the system on numerous machines, thus reducing the time required for checks.

China, India, Japan, South Korea, and Australia are some of the key countries that were the major contributors of the growth of Facial Recognition market in the Asia Pacific region. Technological development along with rising in infrastructure growth remains some of the key factors that have boosted the application of facial recognition in Asia Pacific region.

The objective of the report is to present comprehensive Asia Pacific Facial Recognition market  including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.

The report also helps in understanding Asia Pacific Facial Recognition market  North America for Asia Pacific dynamics, structure by analyzing the market segments, and project the Asia Pacific Facial Recognition market  North America for Asia Pacific   size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Asia Pacific Facial Recognition market  North America for Asia Pacific make the report investor’s guide.
Asia Pacific Facial Recognition Market Key Highlights:
• Asia Pacific Facial Recognition market size analysis and forecast.
• Comprehensive study and analysis of market drivers, restraints, and opportunities influencing the growth of the Asia Pacific Facial Recognition market.
• Asia Pacific Facial Recognition Market segmentation on the basis of by component, technology, use case, end-use, and geography.
• Asia Pacific Facial Recognition Market strategic analysis with respect to individual growth trends, future prospects along with a contribution of various sub-market stakeholders have been considered under the scope of a study
• Asia Pacific Facial Recognition Marketanalysis and forecast for major countries has been provided.
• Profiling of key industry players, their strategic perspective, and analysis of core competencies
• Competitive landscape of the key players operating in the Asia Pacific Facial Recognition Market including competitive developments, investments, and strategic expansion
Years that have been considered for the study are as follows:
• Base Year – 2021
• Estimated Year – 2021
• Forecast Period – 2022 to 2027

For company profiles, 2021 has been considered as the base year. In cases, wherein information was unavailable for the base year, the years prior to it have been considered.
Asia Pacific Facial Recognition Market Research Methodology:
The market is estimated by triangulation of data points obtained from various sources and feeding them into a simulation model created individually for each market. The data points are obtained from paid and unpaid sources along with paid primary interviews with key opinion leaders (KOLs) in the market. KOLs from both, demand and supply side were considered while conducting interviews to get an unbiased idea of the market. This exercise was done at a country level to get a fair idea of the market in countries considered for this study. Later this country-specific data was accumulated to come up with regional numbers and then arrive at the market value for Asia Pacific Facial Recognition Market.
Asia Pacific Facial Recognition Market Key Target Audience:
• Facial Recognitions technology platform developers
• Raw material and material testing equipment suppliers
• Facial Recognitions original equipment manufacturers (OEMs)
• End-users/enterprise-users
• Research institutes and organizations
• Government bodies, venture capitalists, and private equity firms
• Market research and consulting firms
• Enterprise data center professionals
Asia Pacific Facial Recognition Market Scope: Inquire before buying



Asia Pacific Facial Recognition Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2027


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 1.01 Bn.


Forecast Period 2022 to 2027 CAGR:
23.5%
Market Size in 2027:
US $ 3.57 Bn.


 Segments Covered:
by Component
• Software Tools
• Services


by Technology
• Middleware
• Facial Recognition Software and Sdk
• Databases
• Analytics Solution
• Modeling and Restructuring


by Use Case
• Access Control
• Emotion Recognition
• Law Enforcement
• Attendance Tracking and Monitoring


by End-Use
• Enterprises
• Government
• Other



Asia Pacific Facial Recognition Market, by Geography:
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Others
Asia Pacific Facial Recognition Market Geographic Analysis:
• Breakdown of China Facial Recognition market
• Breakdown of Japan Facial Recognition market
• Breakdown of India Facial Recognition market
• Breakdown of South Korea Facial Recognition market
• Breakdown of Australia Facial Recognition market
• Breakdown of Others Facial Recognition market
Asia Pacific Facial Recognition Market Key Players :
• Dahua Technology
• Hikvision
• Face++
• SenseTime
• Ayonix Corporation
• Panasonic Corporation
• FRS Labs
• Imagus Technology
• Cognitec
• NoahFace
• NEC Corporation
• Gemalto NV
• Aware Inc.
• Thales Group
• Animetrics Inc.
Frequently Asked Questions:
1. Which region has the largest share in Asia Pacific Facial Recognition Market?
Ans: China held the highest share in 2021.

2. What is the growth rate of Asia Pacific Facial Recognition Market?
Ans: The Asia Pacific Facial Recognition Market is expected to grow at a CAGR of 23.5% during forecast period 2022-2027.

3. What is scope of the Asia Pacific Facial Recognition market report?
Ans: Asia Pacific Facial Recognition Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Asia Pacific Facial Recognition market?
Ans: The important key players in the Asia Pacific Facial Recognition Market are – Dahua Technology, Hikvision, Face++, SenseTime, Ayonix Corporation, Panasonic Corporation, FRS Labs, Imagus Technology, Cognitec, NoahFace, NEC Corporation, Gemalto NV, Aware Inc., Thales Group, and Animetrics Inc.

5. What is the study period of this market?
Ans: The Asia Pacific Facial Recognition Market is studied from 2021 to 2027.