Global Facial Recognition market to grow at a CAGR of 25.7% over the period 2014-2019
Deerfield Beach, FL -- (SBWIRE) -- 08/21/2015 -- Global Facial Recognition market to grow at a CAGR of 25.7% over the period 2014-2019. Facial recognition is a technology used for the identification of individuals. Facial recognition system measures the overall facial feature of a person such as nose, jaw edges, mouth, and the distance between eyes. Facial recognition is used for access control in restricted or high-security areas such as private and public buildings. Facial recognition is largely used in the Government,
Financial, Transit, and Aviation sectors to identify and authenticate individuals. Facial recognition system is widely accepted because it is non-intrusive and can be performed from a distance of around more than two foot. Most of the facial recognition systems work without the consent of individuals. Therefore, this system does not demand an individual to stand against the camera for the scan. Rather it locates the individual face and accomplishes the process of identification against the facial data stored in the database.
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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.
The latest report 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.
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"Companies are explicitly focusing on R&D to introduce inexpensive and advanced solutions for customers,".
Covered in this Report
This report covers the present scenario and the growth prospects of the Global Facial Recognition market for the period 2015-2019. To calculate the market size, the report considers the revenue generated from the sales of facial recognition systems.
The report offers a detailed analysis of Global Facial Recognition market in the following sectors:
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Global Facial Recognition Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the APAC region, Europe, Latin America, the Middle East and Africa (MEA) region, and North America; it also covers the Global Facial Recognition market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
"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.