Facial Recognition - Japan

  • Japan
  • The market size in the Facial Recognition market is projected to reach US$219.00m in 2024.
  • The market size is expected to show an annual growth rate (CAGR 2024-2030) of 9.35%, resulting in a market volume of US$374.50m by 2030.
  • In global comparison, the largest market size will be in the United States (US$1,316.00m in 2024).
 
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Analyst Opinion

The Facial Recognition market in Japan is facing subdued growth due to factors such as limited adoption of digital technologies, low health awareness among consumers, and the lack of convenience in online health services. However, the market is still experiencing growth in the Computer Vision sector within the Artificial Intelligence market, driven by advancements in technology and increasing demand for AI-based solutions. This growth is expected to continue in the coming years.

Customer preferences:
As facial recognition technology becomes more advanced and widely available, there has been a growing demand for personalized and convenient security solutions in Japan. This trend has been fueled by the country's aging population and a desire for increased safety measures. Additionally, the rise of contactless interactions due to COVID-19 has further accelerated the adoption of facial recognition technology in various industries, such as retail and hospitality. This shift towards touchless solutions is expected to continue, with consumers prioritizing safety and convenience in their interactions.

Trends in the market:
In Japan, there is a growing trend of using facial recognition technology in various industries, including retail and banking. This is driven by the government's push for digitalization and the increasing demand for contactless services in the wake of the pandemic. Additionally, there is a focus on developing more accurate and efficient facial recognition systems, with a particular emphasis on improving diversity and inclusivity. These trends are expected to continue, with potential implications including enhanced customer experiences and improved security measures.

Local special circumstances:
In Japan, the Facial Recognition Market of the Computer Vision Market within the Artificial Intelligence Market is influenced by the country's strict privacy laws and cultural attitudes towards personal data. This has resulted in a slower adoption of facial recognition technology compared to other markets. Additionally, Japan's aging population has led to the development of facial recognition solutions for elderly care and security in nursing homes. The country's advanced technology infrastructure and high demand for security measures also drive the growth of facial recognition in retail, transportation, and government sectors.

Underlying macroeconomic factors:
The growth of the Facial Recognition Market in Japan is influenced by macroeconomic factors such as technological advancements, regulatory support, and investment in artificial intelligence infrastructure. Japan's strong investment in AI and advanced facial recognition technologies, coupled with favorable regulatory policies, is driving the market growth. Additionally, Japan's aging population and high demand for security and surveillance solutions are also contributing to the growth of the Facial Recognition Market in the country.

Methodology

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.

Overview

  • Market Size
  • Value
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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