A new report titled ‘Global Facial Recognition Market 2014-2018’ available from Research and Markets names the government sector as a key driver in facial biometric technology. According to the research, the global facial recognition market will grow at a CAGR of 26.6 percent over the five years between 2013 and 2018.
The report names key trends and market drivers, among which 3D facial recognition and the growing needs of the government sector are highlighted respectively.
An analyst is quoted in the report’s executive summary, explaining: “The emergence of 3D facial recognition systems is a new trend witnessed in the Global Facial Recognition market. This 3D approach is achieved by integrating two cameras that are synchronized together to reconstruct a 3D facial template for a user. Moreover, this technique uses 3D sensors to capture information about the facial characteristics of a person. This information is then used to identify distinctive features of a face, such as the curve of the eye sockets, nose, and chin. The system has enhanced the accuracy level of facial recognition systems such that it can easily identify identical twins accurately. Therefore, manufacturers of face recognition systems are slowly replacing 2D techniques with 3D techniques because of their unique advantages.”
In regards to the government demand for facial biometric solutions, the report names defense, finance and military as the departments leading the charge in adoption. Recently, according to the report, the government sector has been the major revenue contributor to the market.
OF Course, a growing market is not without its challenges. Research and Markets states that a lack of accuracy in some facial recognition systems is an obstacle. Specifically, the report cites facial reconstruction surgery, changes in makeup and age based changes as conflicting with acceptance rates.
Though not specifically cited in the report summary, facial recognition is also becoming more common in commercial and enterprise markets. Because facial recognition is a software-friendly modality (it can be applied to existing webcams, photo databases and smartphones), it can serve a wide range of applications that leverage existing hardware.
Companies like Cognitec Systems are exploring this versatility, expanding the list of possible uses for face biometrics to marketing scenarios.
June 27, 2014 – by Peter B. Counter