The facial recognition market has been projected to grow rapidly in the near future. The growth opportunities in the market are likely to expand with increasing R & D activities that further result in the rising use of facial recognition technology across different industry verticals. For example, biometric technology has been adopted in recent years for the improvement of overall security.
Thus, on the basis of these increasing applications, the facial recognition market has been anticipated to grow at a rapid pace in the upcoming years.
Biometrics are universal, measurable, and unique and they provide numerous security solutions around the world. In addition to this, there has been an increased demand for biometric technology as it finds applications for various purposes, for instance, security, surveillance, access control, and attendance tracking.
These factors are further estimated to drive sales opportunities in the facial recognition market throughout the forecast period.
Facial recognition technology commonly refers to the techniques of image recognition that commonly used a connected or digital camera for faces identification in the captured images.
Along with this, the technique from the facial recognition market also quantifies the features of images to match templates that are generally stored in the database.
Face recognition, speech recognition, fingerprint, and iris recognition are numerous types of biometrics techniques from the facial recognition market that are used today.
Key Trends in Facial Recognition Market
The facial recognition market has been growing with numerous trends in recent years, for instance, advancements, for example, cloud-based services, and a rapid shift from 2D facial recognition to 3D facial recognition.
In addition to this, the rising application of the technology in intelligent signage and physical security, growing application in the mobile drones and security, and the emergence of facial analytics are also driving facial recognition market growth.
The technology from the facial recognition market has been experiencing commercialization in the corporate sectors. Along with this, incrementing integration of facial biometrics with smart cards is also fueling growth avenues in the facial recognition market in the near future.