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Facial Recognition Market Predicts Smartphone Security Needs to Drive Revenue to $9.6 Billion by 2022

Facial Recognition Market Expects Targeted or Personalized Marketing to Open New Growth Opportunitie

Delaware, March 07, 2017 (GLOBE NEWSWIRE) -- The report “World Facial Recognition Market - Opportunities and Forecast, 2015 - 2022”, available on MarketIntelReports, estimates that the market will register a CAGR of 21.3% till 2022.

Scope & Regional Forecast of the Facial Recognition Market

Facial recognition is a biometric technology which is used for authentication and identification of individuals, by comparing the facial features from an image with the existing database. Facial recognition is expected to witness robust growth during the forecast period due to its increasing usage in both law enforcement and non-law enforcement applications. Moreover, facial recognition is widely preferred over other biometric technologies such as voice recognition, skin texture recognition, iris recognition and fingerprint scanning among others, due to its non-contact process and easy deployment (using cameras and existing monitoring devices). The technology is predominantly used for security purposes, but is now gaining wide popularity for advertising and marketing, as it enables the companies’ to deliver targeted messages to the consumers.

Increasing crime rate across the world has persuaded government agencies to look for cutting edge surveillance technology that can effectively address the growing concerns over security. Facial recognition has emerged as one such identification technologies, which addresses most of the security concerns in the most effective and fool proof manner. However, increasing sensitivity towards personal data privacy has hindered the expansion of market in certain regions. On the other hand, technically advanced facial recognition systems with application in mobile security, drones, and retail is likely to create greater opportunities in the years to come.

Key Benefits

  • The report provides a comprehensive analysis of the world facial recognition market with current and future growth trends, driving factors, opportunities and challenges.
  • The report includes a comprehensive qualitative as well quantitative analysis of the key market segments, for the period 2015 ‐ 2022.
  • Porters Five Forces analysis highlights the potential of buyers and suppliers as well as provides insights on the competitive structure of the market to devise effective growth strategies and facilitate better decision-making.
  • Value chain analysis provides key inputs on the role of stakeholders involved at various stages of the value chain.
  • SWOT analysis of the key market players highlights their strengths and weaknesses along with potential opportunities present in the market.

Segmentations & Key Players Involved in the Facial Recognition Market

The Facial Recognition Market can be broken down into various segmentations on the basis of -

Technology: 2D facial recognition, 3D facial recognition and Facial analytics.

Component: Hardware (Scanners, Cameras, Handheld devices, Integrated devices) and Software.

Application: Homeland security, Criminal investigation, ID management, Physical security, Intelligent signage, Web application, Business intelligence, Photo indexing and sorting and Others (VIP recognition, automotive and phone, PC & banking login).

Geographical Location: North America, Europe, Asia-Pacific and LAMEA. 

Some of the key players involved in the Facial Recognition Market are as follows:

  •     3M
  •     Cognitec Systems GmbH
  •     NEC Corporation
  •     FaceFirst, Inc.
  •     Nuance Communications Inc.
  •     Crossmatch
  •     International Business Machines Corporation (IBM)
  •     Animetrics Inc.
  •     Daon Inc.

 Why buy this report?

  • Get a detailed picture of the Facial Recognition Market.
  • Pinpoint growth sectors and identify factors driving change.
  • Understand the competitive environment, the market’s major players and leading brands.
  • A five-year forecast method is used in order to assess how the market is predicted to develop.

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