MarketResearchNest.com adds “Global Facial Recognition Market 2017-2021” new report to its research database. The report spread across 76 pages with table and figures in it.
Research analysts forecast the global facial recognition market to grow at a CAGR of 22.53% during the period 2017-2021.
Facial recognition technology is used for the identification of an individual. Facial recognition system measures the overall facial features of a person, which includes the eyes, mouth, nose, and jaw edges. It is being used in high-security areas for control access. Facial recognition is largely used in the government, financial, transit, and aviation sectors to identify and authenticate individuals. Facial recognition systems are widely accepted as they are non-intrusive, and they can work from a distance of more than two feet.
Covered in this report
The report covers the present scenario and the growth prospects of the global facial recognition market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of biometrics solutions, including hardware, software, integrated solutions, and services used in facial recognition systems.
Browse full table of contents and data tables at https://www.marketresearchnest.com/global-facial-recognition-market-2017-2021.html
The market is divided into the following segments based on geography:
Technavio’s report, Global Facial Recognition Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Facial Recognition Market 2017-2021
Technavio recognizes the following companies as the key players in the global facial recognition market: 3M Cogent, Cognitec Systems, NEC, and Safran.
Other Prominent Vendors in the market are: ArcSoft, Aurora Computer Services, Aware, FaceFirst, Fulcrum Biometrics, Gemalto, Google, Herta Security, Imagus Technology, KeyLemon, Lathem Time, Luxand, Netatmo, and XiD Technologies.
Commenting on the report, an analyst from Research team said: “One trend in the market is integration of facial recognition in video surveillance. Currently, vendors are incorporating facial recognition capabilities in video surveillance systems to help in effective and easy identification of intruders or attackers and enhance the level of security. The increasing instances of intruder threats have created the need for strong security, and governments worldwide are increasing their security budgets.”
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According to the report, one driver in the market is increasing instances of identity threats. The increasing dependence of end-users on websites and web applications is giving rise to an increasing number of identity and data theft cases. The growing popularity of online gaming and social network websites is also adding to the rising number of identity theft cases. In addition, the increasing complexity of these attacks is driving end-users to implement secure authentication solutions. Thus, there is increased adoption of biometric security solutions.
Further, the report states that one challenge in the market is high cost of deployment. One of the major challenges restricting the use of facial recognition systems is the high cost of deployment. Large-scale deployment of facial recognition systems in government departments and airports is a time-consuming process, and they typically have a long sales cycle. In addition, the cost of deployment varies depending on the user requirements. The budget constraints limit the testing of facial recognition solutions.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Key questions answered in this report: What will the market size be in 2021 and what will the growth rate be?; What are the key market trends?; What is driving this market?; What are the challenges to market growth?; Who are the key vendors in this market space?; What are the market opportunities and threats faced by the key vendors?; What are the strengths and weaknesses of the key vendors? ;
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Mr. Jeet Jain