HOME Research Insight Emerging Trend in The Facial Recognition Market

Emerging Trend in The Facial Recognition Market

Facial Recognition Market is focused to give a birds eye-view of the complete facial recognition industry with regards to technology and solutions, software, hardware and services. It also provides revenue distribution of the market based on various industry vertical or end-users. The report provides a unique view of the facial recognition market and how the market will evolve by 2018.

Recent technological advancements in the field of facial recognition, has not only opened innovative and highly lucrative business models for vendors but also is providing variety of interesting products and services to the customers. The development of 3D facial recognition technology backed by improved imaging solutions, middleware and fast analytics has made race recognition more accurate and robust. The global adoption of e-Passes, national ID documents with facial images and automated border control systems will drive the growth of this market in the coming years. Anonymous analysis of persons from video streams gathered from surveillance systems, will be gaining momentum in the commercial field. Countries implementing National ID and e-Passports programs will be highly lucrative for the face recognition vendors.

Rise of infrastructure development in the recent years in several regions across the globe, has boosted the growth of surveillance market. This has increased the integration of facial recognition technology and analytics, with that of the surveillance infrastructure. Enterprises such as retail outlets, sensitive buildings, casinos, critical infrastructures and other public places are catching on to the opportunity to extract Return on Investment (ROI) by integrating facial recognition technologies into their surveillance infrastructure. It is expected that 21% of the global smart cities and smart buildings will embed face recognition technology in surveillance systems and access control systems by 2018. The Facial Recognition Market embedded with surveillance systems will be adopted highly for critical infrastructure protection. Collaboration with major system integrators for implementation of large scale security solutions in these smart city or building projects will act as an ideal growth strategy for the facial recognition vendors in the long run. Upcoming mega events such as Football World Cup in 2014 and Olympics in 2014, in Brazil will induce huge investment on face recognition technology.

Commercialization or consumerization of the facial recognition technology is one of the driving factors which are driving its adoption in the consumer electronics segments. It is expected that more than 30% of the mobile phones in the world will have the facial recognition technology integrated into it by 2018.  With the overwhelming growth of consumer electronics market and growing popularity of facial recognition solution, facial recognition market will witness a substantial growth in the coming years.  High adoption rate is expected to be in Asia-Pacific, Latin America and Middle East and Africa. Emerging economies such as India, Brazil, China, Russia and Mexico are expected to be the lucrative markets for the facial recognition vendors, primary reason being huge spending on National ID programs and biometric systems.

The facial recognition report segments the market based on technologies such as 2D, 3D, thermal, emotion, mobile and forensic technologies. Facial recognition for anonymous analysis of persons in video streams from video surveillance systems will, help in the rapid adoption of 3D facial recognition technology. The cloud-based facial recognition services will be the emerging business model in this market and is expected to gain traction in the coming years. Key market players in the facial recognition market are NEC, Safran Group, 3M and Cognitec.

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