DUBLIN, Dec. 12, 2014 /PRNewswire/ --Research and Markets
(http://www.researchandmarkets.com/research/87pph8/global_facial) has announced the addition of the "Global Facial Recognition Market 2015-2019" report to their offering.
Facial recognition is a technology used for the identification of individuals. Facial recognition system measures the overall facial feature of a person such as nose, jaw edges, mouth, and the distance between eyes. Facial recognition is used for access control in restricted or high-security areas such as private and public buildings. Facial recognition is largely used in the Government, Financial, Transit, and Aviation sectors to identify and authenticate individuals.
Facial recognition system is widely accepted because it is non-intrusive and can be performed from a distance of around more than two foot. Most of the facial recognition systems work without the consent of individuals. Therefore, this system does not demand an individual to stand against the camera for the scan. Rather it locates the individual face and accomplishes the process of identification against the facial data stored in the database.
The analysts forecast the Global Facial Recognition market to grow at a CAGR of 25.7 percent over the period 2014-2019.
This report covers the present scenario and the growth prospects of the Global Facial Recognition market for the period 2015-2019. To calculate the market size, the report considers the revenue generated from the sales of facial recognition systems.
The report, the Global Facial Recognition Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the APAC region, Europe, Latin America, the Middle East and Africa (MEA) region, and North America; it also covers the Global Facial Recognition market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
One key trend upcoming in this market is increased R&D spending by the market leaders. These companies are in a better position to focus on the development and use of inexpensive and advanced solutions for the end-users. The companies are mainly focusing on R&D to introduce inexpensive and advanced solutions for the customers. The increased focus on R&D has resulted in the introduction of products with better accuracy and high integration ability.
According to the report, the increased threat of unauthorized intrusions is one of the major factors driving this market. With the increase in terrorist attacks in transit locations such as airports, there is a greater need for high security. However, with thousands of passengers travelling every day, tracking each one of them is challenging. Facial recognition is one of the best solutions to look for potential threats.
Further, the report states that one of the key challenges that the market faces is the high cost of implementation of facial recognition systems. Facial recognition systems are more expensive than other types of biometric readers. There are hidden costs involved such as maintenance costs and middleware costs that contribute to the implementation cost.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Key Topics Covered:
01. Executive Summary
02. List of Abbreviations
03. Scope of the Report
04. Market Research Methodology
06. Market Description
07. Market Landscape
08. Market Segmentation by End-users
09. Geographical Segmentation
10. Market Attraction
11. Buying Criteria
12. Market Growth Drivers
13. Drivers and their Impact
14. Market Challenges
15. Impact of Drivers and Challenges
16. Market Trends
17. Trends and their Impact
18. Vendor Landscape
19. Key Vendor Analysis
20. Other Reports in this Series
- 3M Cogent
- Airborne Biometrics
- Cognitec Systems
- Cross Match Technologies
- Herta Security
- Intelligent Security Systems
- Lodge Service
- PSP Security
- RCG Holdings
- Safran Group
- Smartmatic 8
For more information visit http://www.researchandmarkets.com/research/87pph8/global_facial
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SOURCE Research and Markets