Facial Recognition Market

New Product Launches, Acquisitions, Collaborations, and Partnerships are the Key Strategies Adopted in the Facial Recognition Market

Facial recognition is a software application that enables biometric devices to identify individuals’ biometric features using facial specification. The facial recognition application is used to scan, store, identify, and verify the features of human faces by associating the digital images with those that are saved in databases. Facial recognition identifies a person by comparing the person’s image with that stored in the database, thus providing a high level of security.

MarketsandMarkets expects the global facial recognition market to grow from USD 4.05 Billion in 2017 to USD 7.76 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 13.9%. The increased need for enhanced surveillance and monitoring at public places and the increased use of applications in the government and other such industries are expected to be driving the facial recognition market growth. The major facial recognition vendors include Aware (US), NEC Corporation (Japan), Ayonix Corp. (Japan), Cognitec Systems (Germany), KeyLemon (Switzerland), nViso (Switzerland), Herta Security (Spain), Techno Brain (Kenya), Neurotechnology (Lithuania), Daon (US), Animetrics (US), 3M Company (US), IDEMIA (France), and Gemalto (Netherlands). New product launches, acquisitions, collaborations, and partnerships are the key strategies adopted by these market players to offer feature-rich products and services to their customers and penetrate deeper into the unserved regions.

IDEMIA is a digital security and identification technology solutions provider company. The company’s strategy is to provide highly competitive products and solutions in the facial recognition market. The company offers 3D Face Reader, which is an integrated product of software and hardware. It enables fast, convenient, and secure facial recognition. It works in different modes, such as identification, multi-factor authentication, and tamper detection. In July 2017, IDEMIA deployed its biometric technology to Bio-Link, a Center of Excellence for Biotechnology and Life Sciences. The deployment improved its access control performance system. In May 2017, Oberthur Technologies (OT) and Safran Identity & Security (Morpho) merged to form IDEMIA. The company announced its new name, IDEMIA, in September 2017.

Aware was founded in 1986 and is headquartered in Massachusetts, US. The company is a global biometrics application provider. The company’s product offerings include Software Development Kits (SDKs), controls, and applets. The company’s product offerings include Nexa|Face and Nexa|Iris. Nexa|Face is a multistage facial identification and recognition algorithm, deployed as SDK. In October 2017, Aware introduced a Knomi Mobile Biometric authentication framework. Knomi comprises SDKs, which is integrated between the mobile device and the server as the replacement for passwords using multi-factor authentication. In April 2017, Aware introduced Idigo|Onboard, a cloud-based biometric identity solution, designed for upgrading onboarding processes with the advanced identity functionality.

Related Reports:

Facial Recognition Market by Component (Software Tools and Services), Technology, Use Case (Emotion Recognition, Attendance Tracking and Monitoring, Access Control, Law Enforcement), End-User, and Region - Global Forecast to 2022

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Report Code
TC 3421
RI Published ON
11/14/2017
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