Industry Insights
Increasing safety demand in government sector for worker
identification and attendance is anticipated to boost the facial
recognition market over the next five years. Facial recognition uses
biometric technology which gives high level security for private and
public sectors. It takes into consideration chosen facial features and
crosschecks them with a database to give authorization.
Facial recognition includes software, readers and related database
for giving security along with accuracy. This technique is immensely
effective for averting security breaches as compared to classical
authorization techniques such as tokens and passwords. Technology
developments such as 3D recognition systems and cloud-based services are
further anticipated to provide positive avenues to the overall market
growth.
Browse Detail Report With TOC @ http://www.hexaresearch.com/research-report/facial-recognition-industry/
Factors such as plastic surgeries, makeup, aging and other such
medical measures may concern the effectiveness of these systems. Lack of
exactness and high execution cost is expected to hamper the market
demand over the forecast period. Increasing data security demand has
spurred acceptance across organizations, which is compounded by
augmented usage of individual devices as part of the BYOD rule in the IT
division.
Technology Insights
Facial recognition technologies include 3D, facial analytics and 2D.
2D technology is broadly used due to its operational ease and low
installation cost as it utilizes two-dimensional appearance recognition.
This technology is inappropriate in various conditions such as angles,
expressions and varying environmental conditions. 3D technology
overcomes the limitations of 2D by using complex algorithms and high
definition. The 3D facial recognition market is estimated to nurture at a
substantial rate over the next five years. Rising technologies such as
cloud-based solutions and facial analytics is expected to fuel the
market demand. Facial analytics is rapidly used in education &
research, police and retail services to determine varying attributes
such as, gender, facial characteristics, age and others.
Request A Sample copy of This Report @ http://www.hexaresearch.com/sample/208
End-Use Insights
The government sector is anticipated to be the key end-use segment
over the forecast period due to demand in law security and enforcement.
As it is non-intrusive in nature, facial recognition is used for covert
monitoring. This technology is broadly used in finance and banking
sector to counter frauds which is estimated to boost market demand over
the next five years. High technology implementation cost is expected to
pose a challenge to global market growth. However, growing technology
advancements such as cloud based solutions and facial analytics are
anticipated to augment the market growth.
Regional Insights
Facial recognition technology is widely used to address security
requirements due to increasing external and internal threats worldwide.
North America is expected to be the key regional market over the next
five years owing to broad use of this technology in departments such as
defense, security, homeland, and justice among others. Initiatives such
as e-KTP electronic ID project in Indonesia and UIDAI projects in India
are also anticipated to offer new favorable circumstances for the market
in Asia Pacific region.
Competitive Insights
The facial recognition technology market comprises companies
including Animetrics Inc., Aurora Computer Services Ltd., 3M Cogent,
Aware Inc., NEC Corporation, Ayonix Inc., Precise Biometrics, Nuance
Communication, and FaceFirst. Increasing research & development to
provide product differentiation is anticipated to be the success factor
for market players. Ayonix Inc. specializes in dealing with real-time
face recognition with use of IP cameras to recognize suspects in VIP
customers and public locations in sectors such as retail, hospitality,
banking, and others.
Browse Full Report @ http://www.hexaresearch.com/research-report/facial-recognition-industry/
About Us:
Hexa Research is a market research and consulting organization,
offering industry reports, custom research and consulting services to a
host of key industries across the globe. We offer comprehensive business
intelligence in the form of industry reports which help our clients
obtain clarity about their business environment and enable them to
undertake strategic growth initiatives.
Contact Us:
Ryan Shaw
Hexa Research
Felton Office Plaza
6265 Highway 9
Felton, California 95018
United States
Phone: +1-800-489-3075
Email: sales@hexaresearch.com
Website - http://www.hexaresearch.com/
Visit our Blog: http://hexaresearchinc.blogspot.com/
No comments:
Post a Comment