Facial Recognition Market Was Valued at USD 1,496.2 Million in 2014 And Expected To Reach USD 3.28 Billion By 2022: Credence Research

CredenceResearch.com has Published New Research Report Title “Global Facial Recognition Market – Growth, Share, Opportunities & Competitive Analysis, 2015 – 2022”

According to a new market research report published by Credence Research “Facial Recognition (By Type – Two-dimensional (2D) Facial Recognition, Three-dimensional (3D) Facial Recognition and Facial Analytics) Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022”, the global facial recognition market was valued at US$ 1,496.2 Mn in 2014 and is estimated to expand with a CAGR of 10.4% from 2015 to 2022.

Browse the full report at http://www.credenceresearch.com/report/facial-recognition-market

Market Insights

Facial recognition refers to a security system which identifies a person from video frame or digital image. It is a computer application designed for access control that is based upon facial features of a person. One of the most significant advantages of facial recognition technology is that it does not require any cooperation from the subject. Thus, the technology can be easily used for identifying people even in crowded places.

Another major factor fueling the market growth is the increasing investment on security systems. Public places such as airports, railway stations and commercial/retail places are vulnerable to terror attacks. Due to rising terror threats, surveillances systems are mandatorily installed at these places. Facial recognition systems are used in combination to the video frames produced by the surveillance systems making suspect identification easier.

Nevertheless, the most significant factor hindering the market growth is the privacy concerns over public use of facial recognition solutions. In several European and North American countries, require prior permission for using facial recognition in commercial purposes. Additionally, the facial recognition algorithms are accurate up to 97% making their slightly unreliable.

Competitive Insights

The global facial recognition market is consolidated in nature with few international players contributing to more than forty percent of the total market revenue. Some of the major players operating in the market include NEC Corporation, Morpho S.A. (Safran Group), Cognitec Systems and Cross Match Technologies, Inc. The market is highly competitive in nature.

Facial recognition technology is quite nascent as compared to the traditional biometric solutions such as fingerprint and iris recognition. Thus, these companies continuously emphasize on development of advanced, more reliable solutions in order to gain a competitive edge in the market. Due to strong anticipated growth of the market, many new players are expected to enter the market, making it more competitive and technology driven, in the coming years.

Key Trends

  • Development of advanced facial recognition solutions with higher accuracy and reliability
  • Facial recognition solutions for access control in web applications
  • Introduction of 3-D facial recognition solution
  • Acquisition and partnerships for entering/strengthening the position in the market

Browse the full report at

Latest Report:

Drug Delivery Technologies Market – Growth, Share, Opportunities & Competitive Analysis, 2015 – 2022

About Us:

Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.

Who we are

Credence Research is a worldwide firm, containing more than 15 research consultants and almost 100 research and information professionals.

Our customers mirror our worldwide nature. Around 45% are in Europe, 30% in the Americas, 13% in Asia Pacific and 12% in the Middle East and Africa. 

Our firm is intended to work as one. We are a solitary global research organization united by a solid arrangement of qualities, concentrated on customer effect.

What we do

We serve customers at each level of their organization, in whatever limit we can be most helpful, whether as a trusted counsel to top management or as a hands-on mentor for forefront representatives. For each engagement, we collect a group with the most suitable experience and ability.

No matter the challenge, we concentrate on delivering functional and persevering results, and preparing our customers to develop and lead. We join forces with customers to place suggestions into practice. Our research specialist work straightforwardly with customers over long stretches to create workforce aptitudes, drive operational change, and apply new working strategies.

For more information, visit: http://www.mobilecomputingtoday.co.uk/2953/mobile-point-sale-mpos-terminals-market-demand-retail-sector-spur-market-growth/

Web:  Credence Research

Blog: http://www.mobilecomputingtoday.co.uk/3246/global-facial-recognition-market-reach-3-28-2022-credence-research/

Media Contact
Company Name: Credence Research
Contact Person: Chris Smith, Global Sales Manager
Email: sales@credenceresearch.com
Phone: 1-800-361-8290
Address:105 N 1st ST #429
State: California
Country: United States
Website: http://www.credenceresearch.com/report/facial-recognition-market