Facial Recognition - Ireland

The Facial Recognition Market in Ireland is experiencing subdued growth due to factors such as slow adoption of facial recognition technology, privacy concerns, and high costs. Despite this, the computer vision market within the AI industry continues to grow globally, driven by advancements in technology and increasing demand for automated solutions. In Ireland, the market is expected to see gradual growth in the coming years.

Customer preferences: As the use of facial recognition technology continues to expand in Ireland, consumers are becoming more concerned about data privacy and security. This has led to a growing demand for transparent and ethical practices from companies developing facial recognition software. Additionally, there is a trend towards facial recognition being used for contactless authentication in public spaces, driven by the need for touchless interactions during the pandemic. This shift highlights the importance of balancing convenience with privacy in the adoption of this technology.

Trends in the market: In Ireland, the Facial Recognition Market of the Computer Vision Market within the Artificial Intelligence Market is witnessing a rise in government initiatives and investments towards implementing facial recognition technology in various sectors such as law enforcement, transportation, and retail. This trend is expected to continue, with the potential to enhance security, efficiency, and customer experience. Additionally, there is a growing demand for ethical and transparent use of facial recognition technology, leading to the development of regulatory frameworks and guidelines. These trends have significant implications for industry stakeholders, as they must navigate the evolving landscape to ensure responsible and beneficial integration of facial recognition technology.

Local special circumstances: In Ireland, the Facial Recognition Market of the Computer Vision Market within the Artificial Intelligence Market is influenced by the country's strict data protection laws and privacy regulations. This has led to a slower adoption of facial recognition technology compared to other markets. Additionally, the country's small population and concentrated tech industry also play a role in shaping the market. However, with the increasing demand for security and surveillance solutions, the market is expected to grow in the coming years.

Underlying macroeconomic factors: The Facial Recognition Market of the Computer Vision Market within the Artificial Intelligence Market in Ireland is influenced by various macroeconomic factors. These include the country's strong economic growth, government support for technological advancements, and investment in research and development. Ireland's favorable regulatory environment and investment in AI technology have also contributed to the market's growth. Additionally, the increasing adoption of facial recognition technology in various industries, such as security and healthcare, is driving the demand for these solutions in the Irish market.

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.