London, 24 November 2014 – The Global Facial Recognition Market is expected to grow at a CAGR of 25.7 percent from 2015-2019, according to a new report from research firm TechNavio.
An increased number of security threats and intrusions are boosting demand for high tech security solutions. Facial recognition is emerging as one of the leading solutions for identifying potential threats.
About the Report
The latest report by TechNavio highlights leading vendors in the Global Facial Recognition Market like 3M Cogent, Cognitec, NEC and Safran that have increased their spending on R&D for biometric readers. More partnerships with suppliers and value-added resellers are also expected to significantly improve existing biometric systems.
“Companies are explicitly focusing on R&D to introduce inexpensive and advanced solutions for customers,” says Faisal Ghaus, Vice President of TechNavio.
“The increased focus on R&D has also resulted in the introduction of products with better accuracy and high integration ability. The greater accuracy, integration and low price of facial recognition systems are expected to enhance the adoption of these systems by 2019 and promote aggressive growth in the market.”
Additionally, emergence of 3D facial recognition technology also expected to drive the market growth through the projected period.
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
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