Facial Recognition - CIS

The CIS nan Facial Recognition market in the Computer Vision sector of the Artificial Intelligence market is experiencing subdued growth due to factors such as slow adoption of digital technologies and limited awareness of the benefits offered by facial recognition technology. However, with increasing investment in AI and rising security concerns, growth is expected to pick up in the near future.

Customer preferences: As the demand for enhanced security and efficiency in public spaces grows, the Facial Recognition Market of the Computer Vision Market within the Artificial Intelligence Market is experiencing a surge in adoption. This is driven by the increasing preference for touchless interactions, as well as the need for accurate and reliable identification methods in the wake of the pandemic. Furthermore, the incorporation of emotion recognition technology in facial recognition systems is gaining traction, catering to the growing emphasis on personalized and empathetic customer experiences.

Trends in the market: In the CIS region, the Facial Recognition market within the Computer Vision market is experiencing a surge in demand due to the increasing use of biometric identification for security purposes. This trend is expected to continue as governments and businesses prioritize the need for enhanced security measures. Additionally, there is a growing trend towards contactless authentication methods, driving the adoption of facial recognition technology. This has significant implications for industry stakeholders, as it presents opportunities for growth and innovation in the market. However, concerns over privacy and data protection may pose challenges for companies operating in this space.

Local special circumstances: In CIS, the Facial Recognition Market is heavily influenced by the government's efforts to enhance security measures and combat crime. This has led to the widespread adoption of facial recognition technology in law enforcement and public surveillance systems. Additionally, cultural attitudes towards privacy and data protection play a significant role in shaping the market, as consumers are more cautious about sharing personal information. Regulatory frameworks also differ across CIS countries, affecting the use and development of facial recognition technology.

Underlying macroeconomic factors: The growth of the Facial Recognition Market in the Computer Vision Market within the Artificial Intelligence Market is also impacted by macroeconomic factors such as advancements in technology, government regulations, and investment in infrastructure. Countries with favorable regulatory environments and strong investment in AI technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Moreover, the rise in cybersecurity threats and the need for enhanced security measures are driving the demand for facial recognition solutions, especially in the CIS region.

Data coverage: The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the funding values from different industries for the market.

Modeling approach / Market size:Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports, funding data, and third-party data. In addition, we use relevant key market indicators and data from country-specific associations such as GDP, number of internet users, number of secure internet servers, and internet penetration. This data helps us estimate the market size for each country individually.

Forecasts:In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are the level of digitalization, the number of secure internet servers, and the revenue of the Public Cloud market.

Additional Notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russian-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the market is updated on an ad-hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is weighted for representativeness.