Facial Recognition Market Outlook 2026: Growth Amid New Technological Possibilities
A detailed analysis of the facial recognition market is entailed in this research report. The driving forces responsible for propelling the growth graph of this vertical in addition to the regional and competitive trends are mentioned in the study. A comprehensive document comprising details about vital parameters such as the industry ecosystem analysis, market segmentation, and the vendor matrix, the market report also contains information on the pivotal industry insights for core players to look out for.
Growing spending on security and surveillance systems across the globe will drive facial recognition market outlook. Facial recognition technology is showcasing immense potential for organisations that handle sensitive data and require strict security controls on who enters their facilities. Facial biometrics is widely integrated with physical devices and instead of using passwords, consumer electronics and mobile phones can now be accessed via facial features of the owner.
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3D facial recognition technology is experiencing high demand as it offers accurate results even in dim light conditions. The technology uses facial parameters, such as shape of the nose, chin and depth of the eyes of image captured of an individual for comparison with the available database of images.
These systems offer excellent accuracy while capturing images from videos and they can also track certain parameters like changes in the skin texture, ageing which 2D facial recognition systems cannot track with precision. 3D facial technology is likely to witness major demand from use in document verification, identity management and cross-border monitoring over the coming years.
Facial recognition technology is gaining massive popularity in the healthcare sector for various applications. Integration of artificial intelligence into facial recognition cameras are now utilized to track depressed patients with the help of facial expression analysis. These cameras can be deployed in hospitals to identify regular staff, doctors, patients and to categorize new patients as well.
The systems are also being deployed to track pain levels and for management of chronic pain in patients to boost treatment. Over 30 hospitals in China had installed cameras with facial recognition technology as of February 2019.
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North America facial recognition market share will gain significant traction through 2026 on account of the rising adoption of advanced security technology across various sectors, including defense, retail, homeland security, healthcare, BFSI, and others. For instance, SnapPay, an international payment solution provider, deployed a facial recognition payment technology for merchants in the U.S. The technology immensely enabled convenient payment solutions for consumers at retail outlets.
Prominent facial recognition market players are Cognitec Systems, Daon, Inc., Aware, Inc., NEC Corporation, Ntechlab, Panasonic Corporation, Facefirst, Inc., Thales Group, Herta Security, Idemia, VisionLabs B.V and Ayonix Corporation.
Major Key Points from Table of Content:
Chapter 5. Facial Recognition Market, By Component
5.1. Key trends, by component
5.2. Software
5.2.1. Facial recognition market estimates and forecast, 2016 - 2026
5.2.2. 2D facial recognition
5.2.2.1. Market estimates and forecast, 2016 - 2026
5.2.3. 3D facial recognition
5.2.3.1. Market estimates and forecast, 2016 - 2026
5.2.4. Facial analytics
5.2.4.1. Market estimates and forecast, 2016 – 2026
5.3. Services
5.3.1. Market estimates and forecast, 2016 – 2026
Chapter 6. Facial Recognition Market, By Application
6.1. Key trends, by application
6.2. Criminal investigation
6.2.1. Market estimates and forecast, 2016 - 2026
6.3. Homeland security
6.3.1. Market estimates and forecast, 2016 – 2026
6.4. ID management, attendance tracking & monitoring
6.4.1. Market estimates and forecast, 2016 – 2026
6.5. Intelligent signage
6.5.1. Market estimates and forecast, 2016 – 2026
6.6. Photo indexing & sorting
6.6.1. Market estimates and forecast, 2016 – 2026
6.7. Physical security
6.7.1. Market estimates and forecast, 2016 – 2026
6.8. Others
6.8.1. Market estimates and forecast, 2016 – 2026
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