Facial Recognition
Facial recognition is a biometric technology preferred over iris and fingerprint systems. It provides protection across various public and private sectors. A facial recognition system encompasses reader, software, and a database. It compares selected facial points to the match provided in the database to provide entry to users.
It has been highly efficient against other traditional methods such as passwords and tokens. The adoption of Bring Your Own Devices (BYOD) policy in the IT (information technology) sector is expected to contribute to market growth.
Latest Trends
NEC Corporation, a Japanese multinational specializing in IT solutions, has gained high ratings for its facial recognition software. Its feature point extraction technology can pinpoint suspicious individuals in real-time within crowds. This can be used in prevention of potential attacks.
Customer engagement has found a way to be measured using facial recognition. Val Morgan Outdoor (VMO), an advertising company, is employing this technology in its DART (Digital outdoor Audience in Real Time) measurement system to measure audience engagement levels. It can be used to measure mood levels and can be used in public campaigns.
The Chinese government is using the technology in nearly all sectors within the region. The Face++ technology has been a part of many popular mobile applications. It can be used as a secure gateway to transfer money online.
Market Outlook
The worldwide facial recognition market is expected to grow at a remarkable rate over the forecast period (2014 - 2020). It is driven by novel technologies such as Cloud and 3D recognition systems. The need to secure data across government sectors is another ancillary driving factor. 3D technology, 2D technology, and facial analytics are technologies within the market.
3D technology is expected to register high growth over the next six years. Other technologies like Cloud services are anticipated to spur global market growth. Government is expected to be the biggest market end-user over the next six years. North America can dominate the global market throughout the forecast period due to its extensive utilization in federal departments of the US government. Prominent market players comprise Precise Biometrics, 3M Cogent, FaceFirst, and NEC Corporation.
In-Depth research report on facial recognition market:
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