Facial Recognition Market Global Outlook to 2015 – 2022 | 3M, Cognitec Systems GmbH, NEC Corporation, FaceFirst, Inc., Nuance Communications Inc., Crossmatch, International Business Machines Corporation (IBM)

Facial recognition is a biometric technology which is used for authentication and identification of individuals, by comparing the facial features from an image with the existing database. Facial recognition is expected to witness robust growth during the forecast period due to its increasing usage in both law enforcement and non-law enforcement applications. Moreover, facial recognition is widely preferred over other biometric technologies such as voice recognition, skin texture recognition, iris recognition, and fingerprint scanning among others, due to its non-contact process and easy deployment (using cameras and existing monitoring devices). The technology is predominantly used for security purposes but is now gaining wide popularity for advertising and marketing, as it enables the companies' to deliver targeted messages to the consumers.

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Increasing crime rate across the world has persuaded government agencies to look for cutting edge surveillance technology that can effectively address the growing concerns over security. Facial recognition has emerged as one such identification technologies, which addresses most of the security concerns in the most effective and fool proof manner. However, increasing sensitivity towards personal data privacy has hindered the expansion of market in certain regions. On the other hand, technically advanced facial recognition systems with application in mobile security, drones, and retail is likely to create greater opportunities in the years to come.

Based on geography, the facial recognition market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America is further bifurcated into the U.S., Mexico and Canada, whereas Europe has been further segmented into UK, Russia, Germany, Italy, France and Rest of the Europe. The countries covered under Asia-Pacific are China, India, Japan, South Korea, and Rest of Asia Pacific. LAMEA includes Latin America, Middle East and Africa.

Major companies profiled in the report include 3M, Cognitec Systems GmbH, NEC Corporation, FaceFirst, Inc., Nuance Communications Inc., Crossmatch, International Business Machines Corporation (IBM), Animetrics Inc. and Daon Inc. 

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FACIAL RECOGNITION MARKET SEGMENTATION

The market is segmented on the basis of technology, component, application, and geography.

MARKET BY TECHNOLOGY

2D facial recognition
3D facial recognition
Facial analytics

MARKET BY COMPONENT

Hardware
Scanners
Cameras
Handheld devices
Integrated devices
Software

MARKET BY APPLICATION

Homeland security
Criminal investigation
ID management
Physical security
Intelligent signage
Web application
Business intelligence
Photo indexing and sorting
Others (VIP recognition, automotive and phone, PC & banking login)

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Posted by on Friday July 12 2019, 6:01 AM EST. All trademarks acknowledged. Filed under Business & Financial Services, Business Services, Featured Press Release, Software & Services, Technology Hardware & Equipment, Technology, Media, & Telecommunications. Comments and Trackbacks closed. Follow responses: RSS 2.0

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