Facial recognition is a biometric technology which is used for authentication and identification of individuals, by comparing the facial features from an image with the existing database. Facial recognition is expected to witness robust growth during the forecast period due to its increasing usage in both law enforcement and non-law enforcement applications. Moreover, facial recognition is widely preferred over other biometric technologies such as voice recognition, skin texture recognition, iris recognition and fingerprint scanning among others, due to its non-contact process and easy deployment (using cameras and existing monitoring devices).
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The technology is predominantly used for security purposes, but is now gaining wide popularity for advertising and marketing, as it enables the companies’ to deliver targeted messages to the consumers.Increasing crime rate across the world has persuaded government agencies to look for cutting edge surveillance technology that can effectively address the growing concerns over security.
Facial recognition has emerged as one such identification technologies, which addresses most of the security concerns in the most effective and fool proof manner. However, increasing sensitivity towards personal data privacy has hindered the expansion of market in certain regions. On the other hand, technically advanced facial recognition systems with application in mobile security, drones, and retail is likely to create greater opportunities in the years to come.
Major companies profiled in the report include 3M, Cognitec Systems GmbH, NEC Corporation, FaceFirst, Inc., Nuance Communications Inc., Crossmatch, International Business Machines Corporation (IBM), Animetrics Inc. and Daon Inc.