HOME › Research Insight › Aware Inc. (U.S.) Safran Group (Paris, France), Daon (U.S.) estimates the facial recognition market
Aware Inc. (U.S.) Safran Group (Paris, France), Daon (U.S.) estimates the facial recognition market
Facial recognition is gaining traction owing to the increasing government deployment as it has been deployed by homeland security agencies and the federal & regional law enforcement department. Facial recognition technologies are rapidly being integrated into the framework of homeland security. Various government initiatives to implement next-generation identification programs to create a nationwide-centralized database of criminals’ images and other biometric characteristics will drive the growth of this market in the coming years. This has helped government agencies with criminal investigation and thereby facilitated these agencies in fast identification of offenders. MarketsandMarkets estimates the facial recognition market size is estimated to grow from USD 3.35 Billion in 2016 to USD 6.84 Billion by 2021, at a CAGR (Compound Annual Growth Rate) of 15.3% from 2016 to 2021.
There are several established players in this market such as 3M (Minnesota, U.S.), NEC Corporation (Tokyo, Japan), Aware Inc. (Montana, U.S.), Safran Group (Paris, France), Daon (Virginia, U.S), Cognitec Systems GMBH (Dresden, Germany), Ayonix (Tokyo, Japan), Keylemon (Martigny, Switzerland), nVsio(Lausanne, Switzerland), and Animetrics (New Hampshire, U.S.) are adopting major partnership and agreement & collaboration strategy to grow in the market. The second most adopted strategy by the companies like 3M, NEC Corporation, Daon Inc., Aware, and Ayonix in global facial recognition market is new product launches and upgradations.
Safran Group is one of the leading players in the facial recognition market. The company adopted both organic as well as inorganic strategies to enhance its presence in this market. It announced new product developments to expand its product portfolio. In August 2014, it acquired Dictao, one of the leading providers for security and digital trust. The acquisition strengthens Safran’s security portfolio. In November 2014, Safran expanded its Research and Development (R&D) facilities with the opening of its new R&D center in Saclay, Paris. The new center would help the company increase its focus on new technology and services.
NEC Corporation is one of the leading players in the facial recognition market. The company has adopted both organic as well as inorganic strategies to enhance its presence in this market space. The company has established various partnerships and strategic alliances with local as well as global players, and government agencies. In May 2016, the Australian federal government agency CrimTrac selected NEC to deliver biometric identification services for the following 5 years.
Facial Recognition Market by Component: Software Tools (2D, 3D, and Thermal) and Services (Training & Consulting Services and Cloud-Based Facial Recognition Services), Technology, Use Case, and Application Area - Global Forecast to 2021
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