Facial Recognition Market To Set Phenomenal Growth by 2025 | Key Players 3M, Cognitec Systems, Safran, Daon

The segmentation of the facial recognition market is bifurcated into identification and verification, indicating that the identification segment will experience a significant growth as it aids users, such as airport authorities, to recognize terrorists from among a group of individuals. The verification segment of the facial recognition industry will dominate over the forecast timespan as these are largely used by home and business owners to authenticate whether the person is allowed the permission for entry.

Facial recognition market is segmented based on end users as government and law enforcement, military, retail, BFSI, consumer, automotive, and others. The government and law enforcement segment of the facial recognition is projected to experience a high growth during the forecast time span owing to the adoption of these technologies to prevent criminal activities. Law enforcement agencies, such as correctional facilities, utilize face identification technology to keep track of inmates and ex-convicts. These technologies also are finding increasing adoption in the consumer electronics segment owing to the high demand for security features; for instance, iPhone’s FaceID software and the Facebook feature to tag the user and user’s contacts from the user’s friend list in pictures.

Get sample copy of this research report @https://www.gminsights.com/request-toc/upcoming/2593

The potential threat of privacy invasion is a major factor hindering the growth of the facial recognition market. FindFace; for instance, is a software that was launched in Russia, which allowed users to photograph people in a crowd through their smartphones and reveal their identities with approximately 70% success rates. This can lead to the loss of anonymity and can inversely increase crime rates as the major portion of data is readily available. Many technologies are unable to identify features that are partially covered or disguised allowing criminals to conduct nefarious activities.

An increasing number of retail and commercial businesses is anticipated to adopt these systems, driving the growth of the facial recognition market. For instance, in China, KFC in collaboration with Baidu is developing a technology to predict customer’s orders based on their age and mood. The companies are also developing their ‘Smile-To-Pay’ service that allows customers to process their payment by smiling at a 3D camera. Large organizations are utilizing biometric solutions to obtain the feedback of events, such as training programs, to gauge employee interest and receptivity to the training programs

Get this report Customized to your requirements @ https://www.gminsights.com/roc/2593

The industrial and retail sector in the Asia Pacific countries including China and India is anticipated to experience a high growth owing to which companies are increasingly adopting this software to control the access of their employees. Furthermore, governments of various economies have undertaken initiatives aiding in the growth of the facial recognition market.

Players operating in the facial recognition market include Aware, Inc., Cross Match Technologies, Inc., FaceFirst, Inc., 3M, Cognitec Systems GmbH, Ayonix, Safran Group, Animetrics, Inc., Daon, and others. The companies invest heavily in the development of new technologies to improve the existing software. For instance, in April 2017, NEC Corporation announced the launch of NC7000-3A, which is a data utilization platform software that leverages this technology in mobile devices and is anticipated to improve its position in the facial recognition market.

Contact us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

This release was published on openPR.