In the stored facial database, the identification of the individuals is made by comparing their facial features from an image; this biometric technology is known as facial recognition.
Sarasota, FL -- (SBWIRE) -- 03/16/2017 -- Zion Market Research, the market research group announced the analysis report titled "Facial Recognition Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024"
Facial Recognition Market: Overview
In the stored facial database, the identification of the individuals is made by comparing their facial features from an image; this biometric technology is known as facial recognition. In the coming years, this market is going to grow tremendously owing to its increase use in non-law enforcement and law enforcement applications. Among the other biometric technologies, such as skin texture recognition, fingerprint scanning, voice recognition, and iris recognition, facial recognition is preferred on a large scale owing to its easy deployment and non-contact process. This technology is mainly used in the marketing and security purpose.
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Facial Recognition Market: Segmentation
The facial recognition market is segmented globally into its component, technology, and use case. On the basis of the component, the global market is segregated into service and software. The service segment is further sub-segmented into cloud-based facial recognition services and training and consulting service. The software segment is sub-segmented into thermal facial recognition, 2D facial recognition, and 3D facial recognition. Based on the technology, the market is categorized into middleware, modeling and restructuring, facial recognition software and SDK (Software Development Kit), databases, and analytics solutions. On the basis of the use case, the facial recognition market is bifurcated into emotion recognition, surveillance, law enforcement, monitoring, e-learning, robotics, and others.
Facial Recognition Market: Growth Factors
The use of facial recognition provides high level of security in the private and the public sectors. In the recent years, there has been an increase in the terrorists attacks in the government organizations, thus the demand for the facial recognition is growing on a large scale. The factors that increased the use of the facial recognition is its increasing application in the intelligent signage and physical security, the technological advancements made such as 3D-based recognition systems and cloud-based services have huge implementations of the facial recognition. Technically developed facial recognition systems with its application in the mobile security and drones will provide huge opportunities in the future. However, factors such as lack of accuracy, lack of security of the personal shared data, and the high implementation cost are likely to hamper the market growth.
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Facial Recognition Market: Regional Analysis
Region-wise, the facial recognition market is diversified into North America, Asia-Pacific, Europe, and Rest of the World. The region that dominates the facial recognition market is the North America. The developed regions in North America have deep-rooted infrastructure which favors the market growth. The major countries that are contributing to the market share is the US and Canada. The factor that attributes this growth is the established economy that allows to make investments in the new technologies. The Asia Pacific region also has a huge scope for the growth of the facial recognition market. Huge investments made by the government for the surveillance and security infrastructure, increased awareness among the people, and the increasing developments made are some of the factors that are driving the Asia-Pacific facial recognition market.
Facial Recognition Market: Competitive Players
The key market players in the facial recognition market include NEC Corporation, Safran Group, Cognitec Systems GmbH, Keylemon, Animetrics, 3M, Aware, Daon Inc., Ayonix, and nViso.
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Facial Recognition Market: Regional Segment Analysis
Middle East and Africa
What Report Provides
Full in-depth analysis of the parent market
Important changes in market dynamics
Segmentation details of the market
Former, on-going, and projected market analysis in terms of volume and value
Assessment of niche industry developments
Market share analysis
Key strategies of major players
Emerging segments and regional markets
Testimonials to companies in order to fortify their foothold in the market.
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