Facial Recognition Market — Mushrooming Consumer Electronics Sector Stokes Market

The global facial recognition market was valued at US$ 1,307.0 Mn in 2014 and is expected to grow at a CAGR of 9.5% from 2015 to 2022. Currently, the market is primarily driven by robust technological advancements for development of efficient surveillance systems required by civil and government agencies. This is due to rising instances of criminal and terrorist activities and identification of fraud cases across the globe.

Moreover, facial recognition systems that can scan images in all environmental conditions are being developed using 3D facial recognition technology. This would help overcome the barriers of 2D facial recognition technology that include light and pose deflections of the object.
However, restrictions on users to share their personal details i.e. covert monitoring of an individual, is expected to hinder the market growth. Furthermore, increased adoption of facial recognition in web applications for picture tagging, social interaction, and others is expected to drive the demand for facial recognition in future.

Obtain Brochure For Latest Technology Advancements @  https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1910 

The global facial recognition market is analyzed on the basis of parameters such as type of technology, end-use industry and geographic regions. Of the different technology types, the 2D facial recognition technology segment contributed a significant revenue share in the global market in 2014. This is due to the adoption and acceptance of 2D facial recognition technology in surveillance, which is primarily due to its low cost and easy installation using existing cameras.

The market for 3D facial recognition technology, that offers better and accurate results, is expected to record steady growth as compared to 2D technology. Furthermore, the facial recognition market is witnessing development of facial analytics systems that help generate descriptive metadata about a given face, apart from simple identification. This has resulted in the use of facial recognition technique as both identification and authentication tools.

Facial recognition technology, primarily used for human face detection and identification helps in better surveillance at a particular location where strict people movement monitoring is required. Thus, this technology has wide acceptance across industry verticals namely government and utilities, military, homeland security, banking, financial services, and insurance (BFSI), retail, and others. 

Comments

Post a Comment

Popular posts from this blog

Floor Grinding Machines Market Projected to Reach $344.6 million by 2027

The global floor grinding machines market size was valued at $271.0 million in 2019, and is projected to reach $344.6 million by 2027, registering a CAGR of 3.1% from 2020 to 2027. Asia-Pacific generated the highest revenue in 2019, and is expected to grow at a highest CAGR during the forecast period, followed by LAMEA and North America. Floor grinding machine products witnessed a higher demand, owing to the durability and availability at low cost. Moreover, advancements in floor grinding machines with GPS and others further strengthen the floor grinding machines market growth.  Request PDF Sample Copy @ https://www.alliedmarketresearch.com/request-sample/A06328 In addition, surge in residential construction industry in the developing countries such as India, China, India, and Brazil is expected to increase the demand for floor grinding machines. However, high maintenance and repair costs hamper the floor grinding machines market growth. The impact of this factor is anticipated to ...
Read more

Energy-Efficient Windows Market Segmentation and Key Companies by 2027

The global market for energy-efficient windows is poised for substantial growth, projected to reach $29,023.8 million by 2027, up from $15,594.0 million in 2019, with a notable compound annual growth rate (CAGR) of 8.1% from 2020 to 2027. In 2019, North America emerged as the dominant force in the market, capturing 33.6% of the total revenue share. Dont Miss Out Download Sample Copy of Report: https://www.alliedmarketresearch.com/request-sample/A06191 Energy-efficient windows play a crucial role in reducing the reliance on artificial heating and cooling systems within buildings by providing effective insulation against heat loss and gain from the external environment. Comprising three key elements—glass or glazing, frames, and associated hardware—these windows undergo certification based on metrics like the solar heat gain coefficient (SHGC) and U-factor, qualifying for Energy Star Ratings issued by the National Fenestration Rating Council (NFRC) in the U.S. The SHGC assesses solar h...
Read more

Press Brakes Market Exploring the Growth at a CAGR of 5.9% By 2032

The press brakes market size was valued at $568.15 million in 2022, and is estimated to reach $995.3 million by 2032, growing at a CAGR of 5.9% from 2023 to 2032. A press brake is a machine utilized in metalworking and fabrication procedures to bend and shape sheet metal. It consists of an effective hydraulic or mechanical press that applies force to a metal workpiece, forcing it into a predetermined form by means of a die. Request PDF Sample Copy @ https://www.alliedmarketresearch.com/request-sample/A08707 The press brake's adjustable back gauge allows for specific and repeatable bends, making it a versatile tool for the manufacturing of diverse metal components. Commonly found in manufacturing settings, press brakes are crucial for forming metallic parts utilized in industries inclusive of automotive, aerospace, and construction. Growing industrialization is one of the major factor driving the growth of press brakes market. For instance, in August 2022, Accurl displayed the...
Read more