Europe Facial Recognition Market Size & Outlook, 2021-2028
Europe facial recognition market, 2017-2028 (US$M)
Related Markets
Europe facial recognition market highlights
- The Europe facial recognition market generated a revenue of USD 1,192.6 million in 2021.
- The market is expected to grow at a CAGR of 13.9% from 2022 to 2028.
- In terms of segment, 3d was the largest revenue generating technology in 2021.
- Facial Analytics is the most lucrative technology segment registering the fastest growth during the forecast period.
- Country-wise, France is expected to register the highest CAGR from 2022 to 2028.
Europe data book summary
| Market revenue in 2021 | USD 1,192.6 million |
| Market revenue in 2028 | USD 2,967.4 million |
| Growth rate | 13.9% (CAGR from 2021 to 2028) |
| Largest segment | 3d |
| Fastest growing segment | Facial Analytics |
| Historical data covered | 2017 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 2028 |
| Quantitative units | Revenue in USD million |
| Market segmentation | 2D, 3D, Facial Analytics |
| Key market players worldwide | Aware Inc, Cognitec Systems, Thales, Fujitsu Ltd, NEC Corp, Entrust Inc. |
Other key industry trends
- In terms of revenue, Europe region accounted for 26.8% of the global facial recognition market in 2021.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2028.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 3,863.9 million by 2028.
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Facial Recognition Market Scope
Facial Recognition Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Europe facial recognition market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to facial recognition market will help companies and investors design strategic landscapes.
3d was the largest segment with a revenue share of 36.53% in 2021. Horizon Databook has segmented the Europe facial recognition market based on 2d, 3d, facial analytics covering the revenue growth of each sub-segment from 2017 to 2028.
The European Union (EU) GDPR (General Data Protection Regulation) has rolled out a framework for biometric data protection practices. These regulations on the use of facial recognition could cause organizations to assess the privacy implications before using any face recognition application.
Also, under the EU GDPR, organizations must have a specific reason to use biometric data, such as facial images. In January 2020, Germany’s Interior Minister announced a plan about using automatic facial recognition at 14 airports and 134 railway stations to expand Germany’s facial recognition technology.
The German police have expanded the use of facial recognition solutions since the use of these solutions by the LKAs (State Criminal Investigation Offices), and BKA (Federal Criminal Police Office) increased from 1,673 instances to 27,436 instances between 2010 and 2017.
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Our clientele includes a mix of facial recognition market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe facial recognition market , including forecasts for subscribers. This continent databook contains high-level insights into Europe facial recognition market from 2017 to 2028, including revenue numbers, major trends, and company profiles.
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Europe facial recognition market size, by country, 2017-2028 (US$M)
Europe Facial Recognition Market Outlook Share, 2021 & 2028 (US$M)
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