Facial Recognition Global Market Overview:
Facial recognition is an emerging intrusive and fastest biometric technology working with most individual identifier- the human face. Face recognition technology automatically identifies a person through comparing his digital image with the record available. It monitors the captured image from every angle, identifies skin tone of a human face’s surface, and also able to identify the suspect by emotion analysis technique.
There are various methods used to perform facial recognition such as 3D facial recognition, 2D facial recognition, thermal imaging and skin texture analysis. With growing technology advancement, 3D facial recognition is been adopted on large number over 2D and other facial recognition techniques. There is huge demand for 3D facial recognition technique in government and banking sector in order to increase security at homeland and in military & defence sector. 3D facial has the ability to identify suspect from a mile of distance unlike 2D facial and other techniques thereby has large benefits for suspect identification during criminal investigation. Further, Aware Inc., IBM Corporation, Apple, and Intel security group among others are implementing facial biometrics in wearable, PC’s & laptops, thereby developing good opportunity for facial biometrics in commercial, and retail sectors.
The growing criminal activities and increase in terrorist attacks worldwide has driven the huge demand for high tech and highly secured surveillance system especially for public places. The law enforcement agencies are using Facial Recognition Market to trace & identify suspects during crime investigations. Other than securities, facial recognition also attracting commercial and automotive market these days.
Major Key Players:
- Safran SA (France),
- NEC Corporation (Japan),
- Cognitec Systems (Germany),
- Aware Inc. (U.S),
- Daon Inc. (U.S.),
- Gemalto (Netherlands)
- FaceFirst Inc. (U.S.),
- Ayonix Corporation (Japan),
- Key Lemon Ltd. (Switzerland),
- Face++ (China)
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December 2017 – Intel Corporation in collaboration with Foxconn introduced use cases for 5G based edge computing facial recognition technology to serve emerging requirement of safety in application areas such as payments, retailing, and residential & business security. This technology allows consumer to make transactions within 0.03 seconds of payment process.
December 2017 – Vision Labs announced a strategic partnership with BS/2, a Lithuanian banking technology company, to develop an interbank services for contactless identification using facial recognition technology. This solution is expected to capture user data including gender, age, and emotional response with video stream analysis.
November 2017 – OnePlus, an emerging smartphone company, launched its new product named “OnePlus 5T” featuring facial recognition technology for device unlock.
February-2017– Apple Buys Face Biometrics Company RealFace, an Israel based facial recognition company. With this acquisition, Apple is looking to introduce password based login on its iPhone with facial biometric solution.
Facial Recognition Global Market- Competitive Analysis:
IBM Corporation is the leading market player in Facial Recognition market and has occupied highest market share globally in 2016. They offer i2 facial recognition software kit for intelligent video analytics application. Recently the company has partnered with Rice University to develop elder care robots that can assist seniors which stay alone. These robots would have many features like sensors, cameras that would read facial expressions, sensors to capture vital signs, and Watson-powered speech recognition to know when to call for help.
Safran S.A., NEC Corporation, Gemalto NV, and 3M Company are some other growing companies which are fuelling the growth of Facial Recognition in coming years.
Facial Recognition Global Market- Segmentation:
The Facial Recognition Market can be classified into 5 key segments as follows:
Segmentation by Technology: 3D Facial Recognition, 2D Facial Recognition, Thermal Imaging, and Skin Texture Analysis
Segmentation by Services: Consulting and cloud based
Segmentation by Component: Hardware and Software
Segmentation by End-User: Government, BFSI, Commercial, Retail, Automotive, Education, Healthcare and others.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
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Facial Recognition Global Market- Regional Analysis
The global facial recognition market is estimated to grow at a promising rate in upcoming years. North America is dominating the market followed by Europe. Law enforcement agencies of U.S. and Canada are early adopter of facial recognition technology to control the increasing crime rate in the country. Mexico government has also implemented this technology to reduce fraud at elections and to control the criminal activities in the country.
Asia-Pacific is the fastest growing region which is estimated to show high growth during forecast period. China is dominating the market in Asia-Pacific. In China, government and private companies has deployed facial recognition technology for various purposes such as public safety, fraud prevention, and reducing crime rate. In India also, Government and NGO’s are promoting facial recognition technology based biometrics service. However, lack of technical awareness about facial biometrics process and benefits is the major reason behind slow growth in the country.
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