LATIN AMERICA FACIAL RECOGNITION MARKET 2019-2028
MARKET OUTLOOK
The facial recognition market in Latin America has been projected to depict growth in terms of revenue and expand with a CAGR of 16.24% during the forecast years 2019-2028, according to a report by Triton Market Research. Brazil, Mexico, and Rest of Latin America comprise the market in this region.
Coahuila, a state in north Mexico, bordering Texas, is looking to purchase 1,100 public security cameras. These cameras will be incorporated with AI software for facial and vehicle recognition. In 2018, Dahua, a company selling surveillance cameras, intercoms, and other related products, introduced a series of internet protocol (IP) cameras in the market. These were equipped with built-in face detection and facial recognition technology, powered by deep-learning AI algorithms for real-time monitoring.
Also, VSBLTY, a provider of edge-based facial analytics, and Energetika, an intelligent lighting solution provider, entered into a collaboration to deploy their smart city security systems across Mexico City. This collaboration was based on a $10 million contract to provide facial recognition and crowd analytics for public safety. In 2019, the companies completed three years of partnership to expand their presence in Latin America’s smart city market.
Further, in April 2019, the government of Buenos Aires, the capital city of Argentina, announced its plans to connect the city’s subway cameras to the Fugitive Facial Recognition System. This facial recognition system was designed to capture wanted individuals from the country’s national fugitive database, called CONARC. High demand for facial recognition technology is thus being witnessed in Latin America. This is augmenting the growth of the region’s facial recognition market.
COMPETITIVE OUTLOOK
The leading companies in this market are 3M Company, Nuance Communications Inc, Panasonic Corporation, Animetrics Inc, Aware Inc, Idemia France SAS, Daon Inc, and NEC Corporation.
- 1. LATIN AMERICA FACIAL RECOGNITION MARKET - SUMMARY
- 2. INDUSTRY OUTLOOK
- 2.1. MARKET DEFINITION
- 2.2. KEY INSIGHTS
- 2.2.1. FACIAL RECOGNITION APPLICATION IN MOBILE SECURITY AND DRONES
- 2.2.2. EMERGENCE OF FACIAL ANALYTICS
- 2.3. IMPACT OF COVID-19 ON FACIAL RECOGNITION
- 2.4. PORTER’S FIVE FORCE ANALYSIS
- 2.4.1. THREAT OF NEW ENTRANTS
- 2.4.2. THREAT OF SUBSTITUTE
- 2.4.3. BARGAINING POWER OF BUYERS
- 2.4.4. BARGAINING POWER OF SUPPLIERS
- 2.4.5. THREAT OF COMPETITIVE RIVALRY
- 2.5. MARKET ATTRACTIVENESS INDEX
- 2.6. VENDOR SCORECARD
- 2.7. MARKET DRIVERS
- 2.7.1. NEED FOR SURVEILLANCE SYSTEMS
- 2.7.2. INCREASING ADOPTION OF FACIAL RECOGNITION IN CONSUMER ELECTRONICS SECTOR
- 2.7.3. TECHNOLOGICAL ADVANCEMENTS IN RECOGNITION SYSTEMS
- 2.8. MARKET RESTRAINTS
- 2.8.1. PRIVACY ISSUES
- 2.8.2. HIGH ERROR RATES
- 2.9. MARKET OPPORTUNITIES
- 2.9.1. INTEGRATION OF FACIAL BIOMETRICS IN SMART CARDS
- 2.9.2. COMMERCIALIZATION OF FACIAL RECOGNITION TECHNOLOGY
- 2.10. MARKET CHALLENGES
- 2.10.1. LACK OF ESTABLISHED INTERNATIONAL STANDARDS
- 2.10.2. COMPETITION FROM NON-BIOMETRICS TECHNOLOGIES
- 2.11. WORKFLOW OF FACIAL RECOGNITION SYSTEMS
- 2.12. ADVANTAGES AND DISADVANTAGES OF FACIAL RECOGNITION SYSTEMS
- 3. LATIN AMERICA FACIAL RECOGNITION MARKET OUTLOOK – BY TECHNOLOGY
- 3.1. 3D FACIAL RECOGNITION
- 3.2. 2D FACIAL RECOGNITION
- 3.3. FACIAL ANALYTICS
- 4. LATIN AMERICA FACIAL RECOGNITION MARKET OUTLOOK - BY END-USER
- 4.1. SECURITY AND LAW ENFORCEMENT
- 4.2. HEALTHCARE
- 4.3. RETAIL
- 4.4. OTHER END-USERS
- 5. LATIN AMERICA FACIAL RECOGNITION MARKET – REGIONAL OUTLOOK
- 5.1. BRAZIL
- 5.2. MEXICO
- 5.3. REST OF LATIN AMERICA
- 6. COMPETITIVE LANDSCAPE
- 6.1. 3M COMPANY
- 6.2. COGNITEC SYSTEMS GMBH
- 6.3. NEC CORPORATION
- 6.4. FACEFIRST INC
- 6.5. NUANCE COMMUNICATIONS INC
- 6.6. CROSSMATCH
- 6.7. ANIMETRICS INC
- 6.8. DAON INC
- 6.9. PANASONIC CORPORATION
- 6.10. GEMALTO NV (THALES GROUP)
- 6.11. AWARE INC
- 6.12. FACEPHI BIOMETRIC SA
- 6.13. AYONIX CORPORATION
- 6.14. IDEMIA FRANCE SAS
- 6.15. ID3 TECHNOLOGIES
- 7. METHODOLOGY & SCOPE
- 7.1. RESEARCH SCOPE & DELIVERABLES
- 7.2. SOURCES OF DATA
- 7.3. RESEARCH METHODOLOGY
- LIST OF TABLES
- TABLE 1: LATIN AMERICA FACIAL RECOGNITION MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)
- TABLE 2: MARKET ATTRACTIVENESS INDEX
- TABLE 3: VENDOR SCORECARD
- TABLE 4: LATIN AMERICA FACIAL RECOGNITION MARKET, BY TECHNOLOGY, 2019-2028 (IN $ MILLION)
- TABLE 5: LATIN AMERICA FACIAL RECOGNITION MARKET, BY END-USER, 2019-2028 (IN $ MILLION)
- TABLE 6: LATIN AMERICA FACIAL RECOGNITION MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)
- LIST OF FIGURES
- FIGURE 1: PORTER’S FIVE FORCE ANALYSIS
- FIGURE 2: WORKFLOW OF FACIAL RECOGNITION SYSTEMS
- FIGURE 3: LATIN AMERICA FACIAL RECOGNITION MARKET, BY 3D FACIAL RECOGNITION, 2019-2028 (IN $ MILLION)
- FIGURE 4: LATIN AMERICA FACIAL RECOGNITION MARKET, BY 2D FACIAL RECOGNITION, 2019-2028 (IN $ MILLION)
- FIGURE 5: LATIN AMERICA FACIAL RECOGNITION MARKET, BY FACIAL ANALYTICS, 2019-2028 (IN $ MILLION)
- FIGURE 6: LATIN AMERICA FACIAL RECOGNITION MARKET, BY SECURITY AND LAW ENFORCEMENT, 2019-2028 (IN $ MILLION)
- FIGURE 7: LATIN AMERICA FACIAL RECOGNITION MARKET, BY HEALTHCARE, 2019-2028 (IN $ MILLION)
- FIGURE 8: LATIN AMERICA FACIAL RECOGNITION MARKET, BY RETAIL, 2019-2028 (IN $ MILLION)
- FIGURE 9: LATIN AMERICA FACIAL RECOGNITION MARKET, BY OTHER END-USERS, 2019-2028 (IN $ MILLION)
- FIGURE 10: LATIN AMERICA FACIAL RECOGNITION MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)
- FIGURE 11: BRAZIL FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
- FIGURE 12: MEXICO FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
- FIGURE 13: REST OF LATIN AMERICA FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
Research Assistance
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook