Increasing technological advancements in facial recognition field is anticipated to fuel the market

Market Size – USD 947.5 Million in 2020, Market Growth – at a CAGR of 19.1%, Market Trends – Hiring Skilled Workforce and Use of Artificial Intelligence can empower the Market

The global facial recognition using edge computing market has registered US$ 947.5 million in 2020, and projected to reach at US$ 3,218.5 million by 2027, according to recent study done by Eternity Insights. Availability of high skilled workforce having skills in deep-learning, neural networks and machine learning helps in developing multiple features which is further used across several industry verticals. Surveillance systems is the major feature of this application.

Besides this, it is now also been used at airports to avoid to physical contacts. Similarly , In covid times, features like tracking and monitoring have boosted the demand for facial recognition using edge computing owing to monitor the covid patient movements and check their health status. Going further, emotional recognition is also been used in hospitality and retails sectors to identify the customer delight post product or service purchase .

This helps organizations to effectively understand consumer sentiments and improve their service. Apart from this popular feature there are some features such as payment , image recognition which are expected to increase the popularity and demand for facial recognition using edge computing. Also, companies are working to develop new features in the field of robotics and automotive which can further strengthen the demand for this market.

Key Highlights

• Some of the prominent companies involved in global facial recognition using edge computing market includes Alphabet, Inc., Apple Inc., Arm Ltd., NXP Semiconductors, MediaTek Inc., Cadence Design Systems, Inc. , IDEMIA, Micron Technology, Inc., Xilinx, Inc., Samsung Electronics, Huawei Technologies Co., Ltd., Microsoft Corporation, Qualcomm Technologies, Inc., Amazon.com Inc, and Intel Corporation.
• The facial recognition using edge computing is a very competitive market. The Large tech giants enjoy around 61-64 % of market share. The small to medium size offers products with similar or low differentiation and their products have basic features. They mostly provide cost effective solutions to the organization majorly in the retail, hospitality and the automotive sector.
• In March 2020, Alphabet Inc.’s subsidiary Google has entered into a partnership with AT&T to offer 5G Edge Computing solutions. The company is focusing on integrating the cutting edge 5G networks into its cloud services to deliver enhanced cloud experience.
• In March 2021, Arm Ltd. launched  the Arm®v9 architecture according to the global demand for ubiquitous specialized processing with increasingly capable security and artificial intelligence (AI). Armv9 is the first new Arm architecture in a decade, building on the success of Armv8 which today drives the best performance-per-watt everywhere computing happens.

To get leading market solutions, visit the link below: https://www.eternityinsights.com/report/face-recognition-using-edge-computing-market

Market Segmentation

• Device Type Outlook (Revenue, US$ Million; 2017–2027

  • Integrated
  • Standalone

• Component Outlook (Revenue, US$ Million; 2017–2027

  • Solutions
  • Services

• Application Outlook (Revenue, US$ Million; 2017–2027)

  • Access control
  • Advertising
  • Attendance tracking & monitoring
  • E-learning
  • Emotion recognition
  • Law enforcement
  • Payment
  • Robotics

• End-Use Industry Outlook (Revenue, US$ Million; 2017–2027)

  • Retail & E-commerce
  • Banking, Financial Services and Insurance
  • Hospitality
  • Education
  • Government and Defense
  • Healthcare
  • Automotive
  • Others

• Region Outlook (Revenue, US$ Million; 2017–2027)

  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of MEA
  • Latin America
    • Brazil
    • Rest of Latin America