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.
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