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Increasing International Trade Globally to Boost Facial Recognition Market

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Published on : Jul 04, 2016

Facial recognition is a type of biometric technology employed for the authentication as well as identification of people by capturing of facial imaging through a camera. Post this, the pictures are compared with an already present database. This technology is highly demanded over other biometric technologies owing to its easy deployment by the use of already available monitoring devices and cameras. The major factors fuelling the growth of the market for facial recognition have been elaborated as under:

  • Non-Intrusive Nature and Strict Government Regulation to Boost Market Growth: The facial recognition biometrics, unlike the other types of biometrics, are able to capture the identity of an individual without the need of any established contact of the individual with the system. Thus, these non-intrusive qualities provide this technology an edge over other kinds of biometric solutions. In addition, the strict regulations posed by governments globally will also contribute to the high growth of the market. Governments globally are taking steps to increase the adoption of this technology within financial institutions as well as banks owing to growing rate of crime globally. 

For example: Within Europe, the utilization of biometric technologies within the public sector is witnessing development owing to the government’s plan on implementing biometric IDs for all the citizens.

  • Rising Employment of Facial Recognition within Consumer Electronics: The technology of facial recognition is being highly employed in consumer electronics. This is owing to the rising usage of mobile devices in order to carry out financial transactions. This has further increased the need for enhanced security, thus contributing to the increased demand for facial recognition technology. In addition, facial recognition biometrics can be very easily installed within mobile devices having built-in cameras and also provide enhanced security, this is why the facial recognition technology is being immensely deployed within consumer electronics. 
  • Increasing International Trade to Raise Adoption of Facial Recognition: A number of nations globally are turning toward international trade and this is where biometrics need to be highly employed. The technology of facial recognition is poised to play a lead role within trade facilitation by improving operational security. Hence, the implementation of biometrics will remain high within commercial shipping as well as international trade applications owing to the rising requirement to curb illegal immigration activities globally.