The GMI Research forecasts that the facial recognition market is witnessing an upsurge in demand over/ during the forecast period. This is mainly due to the rapid technological advancement and the rising number of terrorist attacks in several government organizations.
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Introduction of the Facial Recognition Market:
The facial recognition system is the technology that helps in identifying or verifying a person from a video frame or a digital image. It helps in taking face images without any physical contact with the respective person. The facial recognition system uses biometrics to map a person's facial features from a photograph or video. This system is gaining popularity worldwide and is largely used in various sectors such as automotive, banking and financial services, healthcare, retail and e-commerce, education, and many other industries.
Facial Recognition Market Dynamics (Including market research)
The growing technological advancement across various industry verticals globally is one of the key factors driving the growth of the global facial recognition market. The private and public sectors mainly emphasize on improving their high level of security, which will fuel the demand of the market. Furthermore, the increasing number of incidences of terrorist attacks in several government organizations will encourage them to opt for surveillance systems to enhance their safety and security level. The facial recognition system helps in capturing an image from a distance and is considered a cost-effective solution.
The rapid technological advancement in these systems, such as 3D-based recognition systems and cloud-based services, will create various growth opportunities in the market. The emerging trend of facial locks in smartphones and the rising penetration of smart devices will support market growth during the forecast period. According to the facial recognition market research, drones have been extensively used in the commercial sectors, such as inspection, media& & entertainment, and surveying, thus propelling the market growth. On the other edge of the spectrum, the lack of accuracy, growing sensitivity towards shared personal data, and the high cost of implementation of facial recognition system will hinder the growth of the market.
Key Players of the Global Facial Recognition Market:
• NEC Corporation
• Aware, Inc.
• Gemalto NV
• Ayonix Corporation
• IDMEA
• Cognitec Systems GmbH
• Daon Inc.
• NVISO SA
• StereoVision Imaging, Inc.
• Techno Brain Group
Facial Recognition Market Segmentation:
Global Facial Recognition Market Report Segment by Component:
• Software Tools
o 2D Facial Recognition
o 3D Facial Recognition
o Facial Analytics
• Services
o Training and Consulting
o Cloud-based Facial Recognition
Global Facial Recognition Market Report Segment by Application:
• Emotion Recognition
• Attendance Tracking & Monitoring
• Access Control
• Law Enforcement
• Others
Global Facial Recognition Market Report Segment by Vertical:
• BFSI
• Government & Defense
• Retail & eCommerce
• Healthcare
• Education
• Automotive
• Others
Global Facial Recognition Market Report Segment by Region:
• North America
o United States of America
o Canada
• Asia Pacific
o China
o Japan
o India
o Rest of APAC
• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, be it small and medium enterprises or large organization. Our research team helps the clients to understand the importance and impact of the market dynamics. We have a team of industry experts that provides unbiased insights on reports to best meet the specific needs of our clients. GMI Research’s analysts rely on secondary research to lay down the foundation of every report. We use both internal and external databases to cull out relevant information about the industry. Our main aim is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client, through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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