Pro
Technology & Electronics
Middle East & Africa Core Banking Solution Market, by Services, 2017-2025
| Label | USD Million |
|---|---|
| 2018 | 302.433453141032 USD Million |
| 2019 | 321.69020574411735 USD Million |
| 2020 | 361.5770379791197 USD Million |
| 2021 | 382.18149877966545 USD Million |
| 2022 | 458.2299365950482 USD Million |
| 2023 | 524.2267876328239 USD Million |
| 2024 | 632.2790040828372 USD Million |
| 2025 | 764.0397572644266 USD Million |
| 2026 | 944.6045430872944 USD Million |
| 2027 | 1162.629209315631 USD Million |
| 2028 | 1422.4365463832833 USD Million |
| 2029 | 1771.525468058196 USD Million |
| 2030 | 2194.9665910337926 USD Million |
| 2031 | 2688.787157578056 USD Million |
| 2032 | 3265.4492564766742 USD Million |
Data Source: Wantstats Repository
Market Dynamics
The facial recognition market in the UK is expected to experience significant growth in the next 15 years due to increasing security concerns, high public demand, and development in the field of artificial intelligence. The government, police forces and enterprises across the country are increasing their reliance on facial recognition technologies to protect their citizens, citizens' data, and customers' privacy.The rising demand for facial recognition is due to the increasing number of data breaches, as well as the need to have a secure identification system for public and private services. For instance, the UK border patrol is expected to implement facial recognition technology with people trying to enter the country, which may possibly reduce the number of illegal immigration attempts. Furthermore, London's Heathrow Airport has started using facial recognition services to improve security, reduce the wait times for passengers, and help reduce the human error in the screening process. Private companies such as banks are also utilising biometric markers such as fingerprints and facial recognition to better secure customer accounts and prevent fraud.The development of facial recognition technology is also expected to boost the UK's facial recognition market.
For instance, emerging technologies such as 3D facial recognition and deep learning algorithms are augmenting the accuracy and effectiveness of facial recognition systems. Furthermore, the development of autonomous drones powered by facial recognition software is expected to revolutionize the security landscape in the UK, providing a cost-effective way to detect and monitor suspicious activities.Despite the vast potential, privacy and data use concerns remain the most significant issues affecting the adoption of facial recognition technology across the UK. Thus, the government and private stakeholders in the UK are enacting privacy laws to ensure the secure usage of facial recognition technologies for identification and surveillance purposes. Moreover, research and development are also taking place to develop appropriate regulation for the use of facial recognition technology, given the current hype surrounding the subject. Overall, the facial recognition market in the UK is expected to grow significantly in the upcoming years, driven by the rising demand for secure identification, population growth and technological advancements. Thus, it can be concluded that the facial recognition market in the UK is likely to be a booming market in the next 15 years.
Research Methodology
Figures reflect Wantstats’ original market research and forecasting models, compiled as part of the Wantstats research archive and published in 2023.
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Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau
Sales Leader, Bamberg
We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.