Facial Recognition Market To 2020 – Industry Trends, Forecast: Grand View Research, Inc.

Increasing security needs in government sectors for employee attendance and identification is expected to be a key driver for the facial recognition market over the forecast period. Facial recognition is a biometric technology which provides high-level security for public and private sectors. It takes into account selected facial features and compares them with a database to provide authorization. Facial recognition system includes readers, software and related database for providing accuracy along with security. This technique is highly efficient for avoiding security breaches as compared to traditional authorization methods such as passwords and tokens etc.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/facial-recognition-market

Technology advancements such as cloud-based services and 3D recognition systems are further expected to fuel the overall market demand. Factors such as aging, makeup, plastic surgeries and other such medical procedures may affect the efficiency of these systems. Lack of accuracy and high implementation cost may hinder market growth over the next six years. Growing data security demand has spurred adoption across organizations, which is compounded by increased usage of personal devices as part of the BYOD policy in the IT sector.

Key facial recognition technologies include 2D, 3D, and facial analytics. 2D technology is widely used owing to its low installation cost and operational ease as it uses two-dimensional appearance recognition. This technology is inaccurate in various conditions such as varying environmental conditions, angles, and expressions. 3D technology overcomes the drawbacks of 2D by using high definition and complex algorithms. The 3D facial recognition market is expected to grow at a considerable rate over the forecast period. Emerging technologies such as facial analytics and cloud-based solutions are further expected to favor market growth. Facial analytics is increasingly used in retail, education & research and police services to determine changing attributes such as age, gender, and other facial characteristics.

Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/electronic-security-systems-and-devices

The government sector is estimated to be the key end-use segment over the next six years owing to demand in law enforcement and security. Since it is non-intrusive in nature, facial recognition is used for covert monitoring. This technology is widely used in banking and finance to counter frauds which are expected to favor market growth over the forecast period. High technology implementation cost can pose a challenge to overall market growth. However, increasing use and technology advancements are expected to reduce gradually the overall implementation cost. Facial recognition is also used in retail segment for an efficient marketing of its products.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

For more information visit – http://www.grandviewresearch.com/

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s