Megvii Overview
Pro stress-test →Megvii is a Chinese technology company based in Beijing that designs image recognition and deep-learning software and develops artificial intelligence (AI) technology for businesses and the public sector. Megvii is the largest provider of third-party authentication software in the world, and its product, Face++, is the world's largest computer vision platform.
Strategic Profile
Pro stress-test →The company's AI algorithms leverage deep learning and focus on analysis and cognition of visual elements, with industrial-grade products and services integrating hardware and software. Face++ is estimated to have captured over 40% of China's facial recognition sector. However, Megvii was sanctioned by the US government and placed on the Entity List in October 2019, and in December 2021 the US Department of Treasury prohibited all US investment in the company, accusing it of complicity in aiding the persecution of Uyghurs in China.
Competitive Landscape
Pro stress-test →Megvii competes with companies like SenseTime, Amazon, and Microsoft. The global facial recognition market was valued at USD 6.15 billion in 2024 and is projected to reach USD 14.62 billion by 2032, growing at a CAGR of 12.62% from 2026 to 2032. Megvii's dominant position in China is offset by limited access to US markets due to sanctions.
Industry Context
Megvii operates in Computer Vision & Facial Recognition AI.
Key facts
Founded: 2011 · Headquarters: Beijing, China · Employees: 2,349 (as of June 2019) · Revenue: N/A · Market cap: N/A