South America Facial Recognition Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Software and Services), Application (Security & Surveillance, Access Control, and Others), and Vertical (BFSI, Retail and E-commerce, Government, Healthcare, Education, Automotive and Transportation, and Others) 

The facial recognition market in South America is expected to grow from US$ 286.03 million in 2021 to US$ 534.56 million by 2028; it is estimated to grow at a CAGR of 9.3% from 2021 to 2028.

3D face recognition systems deliver more accurate results than their 2D counterparts by measuring the geometry of rigid facial features. 3D face recognition systems could accurately recognize human faces even under dim lights. With varying facial positions and expressions, 2D face recognition systems face difficulties while operating in such conditions. The 3D face recognition technique uses sensors that help capture 3D face images and track persons’ faces in real time with improved precision; moreover, these systems identify an individual irrespective of variations in their poses and expressions, and lighting conditions. Owing to the higher accuracy of 3D facial recognition systems, their deployment is on the rise in public safety systems at airports, and border protection and surveillance check posts. Thus, with the growing research and development efforts, 3D recognition systems are leading to significant future trends in the facial recognition market.

South America Facial Recognition Market Revenue and Forecast to 2028 (US$ Million)

South America Facial Recognition Market Segmentation       

The South America facial recognition market is segmented on the basis of component, application, vertical, and country. Based on component, the market is segmented into software and services. In 2020, the software segment held a larger market share. The market for the software segment is further segmented into 2D facial recognition, 3D facial recognition, and facial analytics. In 2020, the 3D facial recognition segment held the largest market share. The market for the services segment is subsegmented into training & consulting, integration and implementation, and support & maintenance. In 2020, the integration and implementation segment held the largest share of the market. Based on application, the South America facial recognition market is segmented into security & surveillance, access control, and others. In 2020, the security & surveillance segment held the largest market share. Based on vertical, the market is segmented into BFSI, retail and e-commerce, government, healthcare, education, automotive and transportation, and others. In 2020, the government segment held the largest market share. Aware Inc., Fujitsu Limited, IDEMIA, NEC Corporation, and Thales Group are among the leading companies in the South America facial recognition market.

1. Aware Inc.
2. Fujitsu Limited
3. IDEMIA
4. NEC Corporation
5. Thales Group

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