Facial recognition technology is a key technology in the security ecosystem. The market outlook for this area of the industry is positive. Visiongain assesses the market to be valued at $4.6bn in 2019 and with continued advancement and sustained market demand, Visiongain forecasts growth for the facial recognition technologies market. Forecasts by Type (2D, 3D, and Facial Analytics), by Component (Hardware, Software, and Services), by Application (Access Control, Law Enforcement, Emotion Recognition, Attendance Tracking & Monitoring, and Others) and by Industry Vertical (Government, Homeland Security, Military, BFSI, Retail, Healthcare and Others) and Analysis on Leading Companies and Regional and Leading National Market Forecasts and Analysis.

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Facial Recognition Technology Market Report
2019-2029
Forecasts by Type (2D, 3D, and Facial Analytics), by Component (Hardware, Software, and Services), by
Application (Access Control, Law Enforcement, Emotion Recognition, Attendance Tracking & Monitoring, and
Others) and by Industry Vertical (Government, Homeland Security, Military, BFSI, Retail, Healthcare and Others)
and Analysis on Leading Companies and Regional and Leading National Market Forecasts and Analysis

2. Page 71www.visiongain.com/energy/
Facial Recognition Technology Market Report 2019-2029
Forecasts by Type (2D, 3D, and Facial Analytics); by Component (Hardware, Software, and Services); by
Application (Access Control, Law Enforcement, Emotion Recognition, Attendance Tracking & Monitoring,
and Others) and By Industry Vertical (Government, Homeland Security, Military, BFSI, Retail, Healthcare,
and Others) and Analysis on Leading Companies and Regional and Leading National Market Forecasts
and Analysis
period. The others segment for the facial recognition market by industry vertical include education,
media & entertainment, and manufacturing industries. There is a huge usage of digital media and
smartphones in these sectors. Furthermore, these industries witness the deployment of
authentication solutions and services for providing a unique identity to customers, which can be
recognised by computers, smartphones, and other IoT devices.
Companies in the sectors such as media & entertainment, manufacturing, and education offer their
products and services through virtual online platforms such as virtual training programs, online
video, gaming, virtual classroom programs, and others. Thus, customers accessing these require
robust systems for identification for controlling fraud and redundancy of customer identity. At
present, the customers access online services in education and media & entertainment sectors
through personalised login. A large amount of customer data is generated that is managed through
authentication solutions. For instance, many of the educational institutes have implemented class
identity management ERP systems for managing and authenticating the identities of users or
students throughout online sessions, examinations, registration audits, and certification activities.
Manufacturing, media & entertainment, and education sectors have observed revolutionary
changes from conventional business structure towards digitisation. Also, many companies are
adopting various authentication solutions and systems for customers such as multifactor
authentication for preventing unauthorised access to services. Increase in an incident of data
breaches and lack of centralised access management are projected to create numerous growth
opportunities for the facial recognition technologies market over the forecast period.
Figure 4.24 Global Facial Recognition Technology Market Forecast by
Other Industry Verticals 2019-2029 ($mn, AGR%)
Source: Visiongain 2019
18.0%
19.0%
20.0%
21.0%
22.0%
23.0%
24.0%
25.0%
-
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
AGR(%)
Revenue($Million)

3. Page 124www.visiongain.com/energy/
Facial Recognition Technology Market Report 2019-2029
Forecasts by Type (2D, 3D, and Facial Analytics); by Component (Hardware, Software, and Services); by
Application (Access Control, Law Enforcement, Emotion Recognition, Attendance Tracking & Monitoring,
and Others) and By Industry Vertical (Government, Homeland Security, Military, BFSI, Retail, Healthcare,
and Others) and Analysis on Leading Companies and Regional and Leading National Market Forecasts
and Analysis
5.4.5.3 Rest of LAMEA Facial Recognition Technology Market Forecast 2019-
2029
Table 5.39 Rest of LAMEA Facial Recognition Technology Market Forecast
2019-2029 ($mn, AGR %, CAGR %, Cumulative)
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
2019-
2029
Revenue ($Mn) 25 30 37 45 54 66 81 99 122 150 187 234 1,105
AGR (%)
21.37
%
21.44
%
21.53
%
21.66
%
21.84
%
22.09
%
22.44%
22.90
%
23.48
%
24.22
%
25.15%
CAGR 2019-24 (%) 21.7
2024-
29
23.6
CAGR 2019-29 (%) 22.7
Fiscal Year 2018 is used in this report as a baseline for Visiongain’s forecast of the Facial recognition
technology Market and is consistently highlighted in this colour throughout this report.
Source: Visiongain 2019
For the rest of LAMEA, the revenue is $25 mn in 2018, increasing to $81 mn by 2024 at a CAGR of
21.7%. The market further grows to reach $234 mn by 2029, at a CAGR of 23.6% from 2024 to
2029. Overall the submarket would grow with a CAGR of 22.7% over the forecasted period.
Figure 5.34 Rest of LAMEA Facial Recognition Technology Market
Forecast 2019-2029 ($mn, AGR%)
Source: Visiongain 2019
19.0%
20.0%
21.0%
22.0%
23.0%
24.0%
25.0%
26.0%
-
50
100
150
200
250
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
AGR(%)
Revenue($Million)

4. Page 126www.visiongain.com/energy/
Facial Recognition Technology Market Report 2019-2029
Forecasts by Type (2D, 3D, and Facial Analytics); by Component (Hardware, Software, and Services); by
Application (Access Control, Law Enforcement, Emotion Recognition, Attendance Tracking & Monitoring,
and Others) and By Industry Vertical (Government, Homeland Security, Military, BFSI, Retail, Healthcare,
and Others) and Analysis on Leading Companies and Regional and Leading National Market Forecasts
and Analysis
7. Leading Companies in the Facial Recognition
System Market
7.1 3M
Table 7.1 3M Profile 2019 (Market Entry, Public/Private, Headquarters, No
of Employees (2017), Revenue $bn, Change in Revenue, Geography, Key
Markets, Listed on, Products/services)
Market entry 1902
Public/Private Public
Headquarters The U.S.
No of employees (2017) 91,536
Revenue in $bn, FY 2017 US$31.7 Billion
Change in revenue from 2016 +5.3%
Geography North America, Europe, Asia-Pacific, and rest of the
world
Key markets Mining and Manufacturing
Listed on NYSE
Products/services Automotive, commercial, communications, design &
construction, electronics, energy, healthcare,
manufacturing, mining, oil & gas, safety, and
transportation solutions
Source: Visiongain 2019, 3M. 2018
7.1.1 3M Business Overview
3M operates in diverse business areas including industrial, healthcare, and consumer goods. The
company manufactures several products including abrasives, adhesives, passive fire protection,
laminates, personal protective equipment, electronic materials, dental products, car-care products,
and others.
7.1.2 3M Recent Developments
In September 2016, 3M introduced the 3M Live Face Identification System that is easily
configurable and highly scalable. It makes use of live video for facial identification in real-time. The
system can scan and identify multiple faces simultaneously in uncontrolled and dynamic
environments. This technology can be deployed not only in border management and law
enforcement but also for private security and commercial applications.
7.1.3 3M Business Strategy
The factors influencing the success of 3M are the company’s fundamental strengths: state-of-the-
art manufacturing capabilities, 46 technology platforms, and global reach & brand equity. 3M
operates in more than 70 countries across the globe. 3M ranked 97th in the list of Fortune 500
largest corporations in the United States by revenue.