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05/12/2017

Facial biometrics market gains recognition

Maharashtra, India

The Global Facial Recognition Market accounted for USD 4.1 billion in 2016 and is predicted to grow at a CAGR of 15.48% during the forecast period of 2017 to 2024 in the new market research recently released by Data Bridge Market Research. This latest market report contains historical data for the years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

Facial Recognition is a biometric process of identifying an individual by capturing images and then comparing it with existing information. Facial recognition uses different biometric techniques, known as algorithms, that for instance look at the length or width of the nose, shape of the cheekbones. It is a technology widely applicable in homeland security, and military, banking, financial services, and insurance, healthcare, retail, and others. Increasing government deployment and increasing applications in numerous industry sectors may act as the major driver in the growth of the facial recognition market. On the other hand, misinterpretation of some emotions may hamper the market say the researchers.

Major market drivers include the growing surveillance market, increasing government deployment and increasing applications in numerous industry sectors, whereas market restraints could include; interoperability concerns; misinterpretation of emotions.

In the report, the global facial recognition market is segmented on the basis of component into software tools, and services. The software tools segment is further sub segmented into 2D facial recognition, 3D facial recognition, and thermal face recognition. The services segment is further sub segmented into training and consulting services, and cloud-based facial recognition services.

On the basis of technology, the global facial recognition market is segmented into facial recognition software and SDK, middleware, databases, modeling and restructuring, and analytics solutions. In terms of use case, the global facial recognition market is segmented into emotion recognition, law enforcement, surveillance, and monitoring, and others.

Applications for  the global facial recognition market have been segmented into government, enterprise, and consumer. The government segment is further sub segmented into homeland security, and military. The enterprise segment is further sub segmented into banking, financial services, and insurance, healthcare, retail, and others.

Geographically speaking, the global facial recognition market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.

The facial recognition market report includes detailed vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others. The report also measures the technology life line curve and market time line to analyse and prepare for more effective investments.

Some of the major players in the global facial recognition market and listed by the analysts are 3M, NEC Technologies, Aware, Safran, Animetrics, Daon, Ayonix, Cognitec Systems, Keylemon, Nviso, ZK Teco, Aurora Computer Services, Crossmatch, Facefirst, and others.


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