However, interoperability is inhibiting the facial recognition market. Differentiating between similar faces or appearances poses a major market challenge.
3D facial recognition technology is anticipated to observe much quicker adoption compared to the 2D facial recognition technology in the close future owing to rising technological advancements. The government sector and law enforcement agencies majorly use facial recognition systems for protection purposes. In addition, owing to the increase in frauds in the BFSI sector, facial recognition systems are being progressively used in this sector to ensure security and lessen crimes. Moreover, facial analytics systems are used in the retail industry to find out the age, gender, and facial expressions of the customers in order to target them for marketing suitable products of the concerned company.
The key players in Global Facial Recognition market are NEC Corporation, Cross Match Technologies Inc., Animetrics, Inc., Cognitec Systems, Safran Group (Morpho S.A.), Aware Inc., Ayonix, Inc., 3M Cogent Inc., FaceFirst Inc. and ZK Software.
o New Zealand
o Rest of Asia
o Middle East
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 8 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements