Published on : Feb 05, 2018
ALBANY, New York, Feb 05, 2018: The global face recognition systems market has been prophesied to obtain a rising growth because of the commercial and residential security sector witnessing a strong integration of facial recognition solutions in surveillance cameras. ResearchMoz.us has included a report bearing the title “Global Face Recognition Systems Market Size, Status and Forecast 2022,” which has segmented the market as per application and product. In terms of application, the market could see a classification into banking, financial services, and insurance (BFSI), transportation, and government. By product, the market could be segmented into thermal, 3D, and 2D face recognition. Each of these segments has been studied in great detail by the analysts.
In commercial and residential locations, surveillance cameras are usually integrated with facial recognition to help people verify and identify individuals before giving them access to secured premises. Governments such as the U.S. have made it an obligation to install surveillance cameras with facial recognition systems due to the rise of violent activities in residential areas. During the course of the forecast period, the world face recognition systems market has been predicted to witness a strong boost in its growth on account of the rise of fast-growing trends such as the move from 2D to 3D facial recognition.
3D facial recognition has been observed to provide accurate results with the help of its sensors projecting structured light as they collect improved details of the face of an individual. As a result, vendors have been making the move from the provision of 2D to 3D facial recognition in order to help identify an individual more accurately without any room for error. The world face recognition systems market had showcased its dominance in 2015 on the back of the swelling awareness about the facial recognition technology among government bodies.
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The technology gas been majorly used in the government sector for the identification of criminals. A good instance to follow could be the Australian government’s heavy integration of the facial recognition technology into passports for two main purposes, i.e. improving homeland security and identifying travelers. The U.S. in North America has been among the first adopters of latest technologies across the world, which could be an indication of lucrative opportunities birthing in the country. The U.S. government has been anticipated to be a significant contributor of the international face recognition systems market with a massive count of cities installing surveillance cameras enabled with the technology to track individuals.
With respect to product offerings and innovation, global companies have been expected to have an upper hand in the worldwide face recognition systems market. The intensifying competition between global companies could be a marker of the rising growth in the market. Nevertheless, even other players have been prognosticated to improve their market shares with the introduction of innovative products. This could help them to garner a handsome growth in the market while also taking advantage of crucial factors such as the advent of multimodal biometrics technology and its aggressive traction among prominent end users.
The publication has shed light on key information about important players such as Crossmatch Technologies, Ayonix, Gemalto, Safran Group, and NEC Corporation. The competitive landscape of the worldwide face recognition systems market has been comprehensively detailed in the publication with a view to help readers to prepare for any unseen or surprise circumstances beforehand.
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