Facial Recognition Market Report

Facial Recognition Market Analysis By Technology (2D, 3D, Facial Analytics), By End-Use (Government, Military, Homeland Security, Banking & Finance, Retail) And Segment Forecasts To 2020

Published: May 2014  |  90 Pages  |  Format: PDF  |  Report ID: 978-1-68038-311-9

Industry Insights

Increasing security needs in government sectors for employee attendance and identification is expected to be a key driver for the facial recognition market over the forecast period. Facial recognition is a biometric technology which provides high-level security for public and private sectors. It takes into account selected facial features and compares them with a database to provide authorization. Facial recognition system includes readers, software and related database for providing accuracy along with security. This technique is highly efficient for avoiding security breaches as compared to traditional authorization methods such as passwords and tokens etc.

Technology advancements such as cloud-based services and 3D recognition systems are further expected to fuel the overall market demand. Factors such as aging, makeup, plastic surgeries and other such medical procedures may affect the efficiency of these systems. Lack of accuracy and high implementation cost may hinder market growth over the next six years. Growing data security demand has spurred adoption across organizations, which is compounded by increased usage of personal devices as part of the BYOD policy in the IT sector.

Technology Insights

Key facial recognition technologies include 2D, 3D, and facial analytics. 2D technology is widely used owing to its low installation cost and operational ease as it uses two-dimensional appearance recognition. This technology is inaccurate in various conditions such as varying environmental conditions, angles, and expressions. 3D technology overcomes the drawbacks of 2D by using high definition and complex algorithms. The 3D facial recognition market is expected to grow at a considerable rate over the forecast period. Emerging technologies such as facial analytics and cloud-based solutions are further expected to favor market growth. Facial analytics is increasingly used in retail, education & research and police services to determine changing attributes such as age, gender, and other facial characteristics.

End-Use Insights

The government sector is estimated to be the key end-use segment over the next six years owing to demand in law enforcement and security. Since it is non-intrusive in nature, facial recognition is used for covert monitoring. This technology is widely used in banking and finance to counter frauds which are expected to favor market growth over the forecast period. High technology implementation cost can pose a challenge to overall market growth. However, increasing use and technology advancements are expected to reduce gradually the overall implementation cost. Facial recognition is also used in retail segment for an efficient marketing of its products.

Regional Insights

Facial recognition technology is increasingly used to address security needs owing to growing internal and external threats worldwide. North America is estimated to be the key regional market over the forecast period owing to the wide use of this technology in the U.S. in departments such as homeland security, justice, defense, etc. Government initiatives such as UIDAI project in India and e-KTP project in Indonesia to generate electronic id generation of individuals are also expected to provide new opportunities for the facial recognition market in Asia Pacific. Key European markets of the UK, France, Germany, Italy and Spain are expected to drive the regional market considerably over the forecast period.

Competitive Insights

The facial recognition market comprises companies including 3M Cogent, Animetrics Inc., Aurora Computer Services Ltd., Aware Inc., Ayonix Inc., NEC Corporation, Precise Biometrics, FaceFirst, and Nuance Communications, etc. Continuous research & development to offer product differentiation is expected to be the key success factor for industry participants. Ayonix Inc. specializes in dealing with real-time face recognition with use of IP cameras to identify suspects in public locations and VIP customers in sectors such as banking, hospitality, and retail, etc.

Key questions answered by the report
Request for Customization

Choose License Type:

Single User - $4,950
Multi User - $7,950
Enterprise User - $9,950

Special Pricing & Discounts

Avail customized purchase options to meet your research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities

Why Choose Us

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert. Request for a free product review before report purchase.

  • Custom research service

    Custom research service

    Speak to the report author to design an exclusive study to serve your research needs.

  • Quality assurance

    Quality assurance

    A testimonial for service excellence represented in the form of BBB "A" Accreditation.

  • BBB Rating dandb
  • Information security

    Information security

    Your personal and confidential information is safe and secure.

  • BOA