The facial recognition biometrics market is in for growth, according to a new report from QY Research Reports. In a report synopsis, the research firm declined to offer specific numbers, but suggested that the market would see expansion between 2016 and 2021, with facial recognition expected to see greater demand than other biometric modalities for identification.
Two major factors are driving the market, according to QY: One is the increasing use of the technology in authorizing financial transactions, particularly on mobile devices—an analysis that stands somewhat in contrast with new research from Visa indicating that consumers, at least in Europe, strongly prefer fingerprint authentication over facial recognition.
The other driving factor, QY says, is rising crime rates, which are driving law enforcement authorities to seek solutions based on facial recognition. But this is where the market runs against a major potential obstacle—increasing privacy issues. Indeed, with the FBI currently coming under fire from privacy and civil rights advocates for its secretive approach to biometric data collection, there does seem to be a real risk that authorities will have difficulty negotiating the complexities of privacy.
Still, growth is in the cards, and QY’s prediction more broadly tracks with continuing growth in the biometric industry generally.
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July 14, 2016 – by Alex Perala
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