The facial recognition market size was valued at USD 3.35 bn in 2020-2024. The market is expected to witness robust growth at a CAGR of 12 % during the forecast period 2020-2024. The market sizing has been built and validated using multiple demand-side and supply-side approaches for a detailed understanding of the facial recognition market.
The size of the global facial recognition market has been derived by triangulating data from multiple sources and approaches. While arriving at the market size, we have considered data points, such as the size of the parent market and the revenues of key market participants, such as ASSA ABLOY AB, Aware Inc., Cognitec Systems GmbH, Egis Technology Inc., IDEMIA France SAS, NEC Corp., Precise Biometrics AB, Safran SA, Synaptics Inc., and Thales Group.
