This market research report includes a detailed segmentation of the global facial recognition market by end-user (government, transportation, BFSI, and others). It also outlines the market shares for key regions such as North America, Europe, APAC, MEA, and Latin America. The key vendors analyzed in this report are 3M Cogent, Cognitec Systems, Gemalto, NEC, and Safran.
Technavio’s market research analysts estimate the global facial recognition market, to grow at a CAGR of around 24% between 2016 and 2020. These days, the face recognition software are getting integrated into security cameras for both residential and commercial security. Recently, the surveillance systems integrated with face recognition technology were used by security agencies to identify the criminals behind the Paris attack in November 2015. North America leads the global market for face recognition, where a number of cities in the US are using surveillance cameras integrated with facial recognition technology to track people.
The new market research report from Technavio provides a breakdown and analysis of the face recognition segments by technology.
“Of late, the 3D face recognition technology is gaining traction in this market. It offers enhanced details of an individual’s face with sensors that project structured light, thus providing accurate results. Therefore, to identify an individual accurately without making an error, vendors are shifting from the provision of 2D facial recognition to 3D facial recognition,” says Amrita Chaudury, Lead Analyst, ICT, Technavio Research.
Government organizations are the major end-users of face recognition biometrics technology. They are increasingly incorporating this biometrics method for identifying criminals. For instance, the Australian governments are investing heavily in the integration of facial recognition technology into passports for identification of travelers and to enhance homeland security.
Global facial recognition market by government sector 2015-2020
Source: Technavio, 2016
The leading vendors in the global facial recognition market include 3M Cogent, Cognitec Systems, Gemalto, NEC, and Safran. Currently, the market is witnessing the dominance of the international players who compete among each other on the basis of innovation and product offerings. Factors like the emergence of multimodal biometrics technology and its rapid traction among end-users are encouraging vendors to come up with innovative offerings to enhance their market share.
A more detailed analysis is available in the Technavio report, Global Facial Recognition Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Biometrics Market in MENA: Research Report, Trends, and Forecast 2015-2019
- Global Law Enforcement Biometrics Market 2015-2019
- Global Biometrics Spending Market in the Government Sector 2015-2019
- Global Biometrics Market in BFSI Sector 2015-2019
- Biometrics Market in the United States in Education Sector 2015-2019
- Biometrics Market in BRIC Countries 2015-2019
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