Dublin, March 22, 2021 (GLOBE NEWSWIRE) -- The "Singapore Facial Recognition Systems Market (2020-2026): Market Forecast by Component Types (Hardware, Software & Software Tools), by Applications (Law Enforcement, Physical Security, Border Control and Commercial & Service-Based Applications) And Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Singapore Facial Recognition Systems Market size is projected to grow at a CAGR of 17.6% during 2020-26.
Singapore's facial recognition systems market is one of the emerging markets in the Asia Pacific region. The adoption of facial recognition systems by the Singapore government as a part of its "national digital identity (NDI) system" and "smart nation" project would prove to be one of the major drivers behind the growth of the facial recognition systems market during the forecast period.
Additionally, the COVID-19 outbreak has augmented the growth since the lockdown norms are relaxing, there is an increased requirement of corroborating safety measures into the system.
Several upcoming projects which would require the implementation of such systems are in the development pipeline. For instance, ongoing trials of facial recognition systems at Tuas checkpoint. Also, in the year 2020, Singapore became the first country to pay taxes and access other government services using facial recognition technology.
Further, the Singapore facial recognition systems market report discloses that this market is anticipated to register growth since the country is expected to witness a construction spree in the coming years in the healthcare sector on account of surging COVID-19 cases coupled with increasing applications of connectivity solutions in years, with projects including the setting up of large-scale commercial establishments, such as economic cities, hotels, and offices.
Law enforcement application accounts for maximum revenue share in the Singapore facial recognition systems market share for the year 2019 and the same trend is likely to follow in near future on account of criminal identification & investigation purposes resulting in increased demand for security systems. However, other sectors such as border control and physical security would register significant growth in the years to come owing to the ongoing and upcoming infrastructural development in the country and adoption of facial recognition technology in airports, offices, and banks.
The Singapore facial recognition systems market report comprehensively covers the market by component types and applications. The Singapore facial recognition systems market outlook report provides an unbiased Singapore facial recognition systems market overview and detailed analysis of the Singapore facial recognition systems market trends, Singapore Facial recognition Systems market share, opportunities, high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
Key Topics Covered:
1. Executive Summary
2. Introduction
2.1. Report Description
2.2. Key Highlights of The Report
2.3. Market Scope & Segmentation
2.4. Research Methodology
2.5. Assumptions
3. Singapore Facial Recognition Systems Market Overview
3.1. Singapore Facial Recognition Systems Market Revenues (2016-2026F)
3.2. Singapore Facial Recognition Systems Market - Industry Life Cycle
3.3. Singapore Facial Recognition Systems Market - Porter's Five Forces
4. Singapore Facial Recognition Systems Market Dynamics
4.1. Impact Analysis
4.2. Market Drivers
4.3. Market Restraints
5. Singapore Facial Recognition Systems Market Trends
6. Singapore Facial Recognition Systems Market Overview, By Component Types
6.1. Singapore Facial Recognition Systems Market Revenue Share, By Component Types (2019 & 2026F)
6.1.1. Singapore Facial Recognition Systems Market Revenues, By Hardware (2016-2026F)
6.1.2. Singapore Facial Recognition Systems Market Revenues, By Software (2016-2026F)
6.1.3. Singapore Facial Recognition Systems Market Revenues, By Services (2016-2026F)
7. Singapore Facial Recognition Systems Market Overview, By Applications
7.1. Singapore Facial Recognition Systems Market Revenue Share, By Applications (2019 & 2026F)
7.1.1. Singapore Law Enforcement Facial Recognition Systems Market Revenues (2016-2026F)
7.1.2. Singapore Border Control Facial Recognition Systems Market Revenues (2016-2026F)
7.1.3. Singapore Physical Security Facial Recognition Systems Market Revenues (2016-2026F)
7.1.4. Singapore Commercial & Service Based Application Facial Recognition Systems Market Revenues (2016-2026F)
7.1.5. Singapore Other Facial Recognition Systems Applications Market Revenues (2016-2026F)
8. Singapore Facial Recognition Systems Market - Key Performance Indicators
9. Singapore Facial Recognition Systems Market Opportunity Assessment
9.1. Singapore Facial Recognition Systems Market Opportunity Assessment, By Application (2026F)
10. Singapore Facial Recognition Systems Market Competitive Landscape
10.1. Singapore Facial Recognition Systems Market Competitive Benchmarking, By Operating Parameters
10.2. Singapore Facial Recognition Systems Market Ranking, By Companies, 2019
11. Company Profiles
11.1. NEC Asia Pacific Pte Ltd.
11.2. Idemia Group S.A.S
11.3. Thales Group
11.4. Hangzhou Hikvision Digital Technology Co. Ltd.
11.5. Daon, Inc.
11.6. Xjera Labs Pte Ltd.
11.7. SenseTime Group Ltd.
11.8. Anyvision
11.9. Aware, Inc.
11.10. Yitu Technology
12. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/8fggbb