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Facial Recognition Market to see 27.7% CAGR to 2018: Analysis of Emotion, Thermal, Mobile, Forensic, 2D, 3D, and Cloud-based Facial Recognition
|By PR Newswire
|August 31, 2014 10:30 AM EDT
DALLAS, August 31, 2014 /PRNewswire/ --
The global facial recognition market is estimated to grow from $1.92 billion in 2013 to $6.50 billion in 2018. This represents a Compound Annual Growth Rate (CAGR) of 27.7% from 2013 to 2018. In the current scenario, government and utilities are expected to be the largest adaptor for face recognition technology. In terms of regions, North America is poised to be the biggest market for face recognition. However, over the next five years, APAC will experience increased market traction, to become the biggest facial recognition market globally. Complete report titled "Facial Recognition Market [Emotion; Thermal; Mobile; Forensic; 2D; 3D; Cloud-based Facial Recognition]: Global Advancements, Emerging Applications, Business Models and Worldwide Market Forecasts and Analysis (2013 - 2018)" is available at http://www.reportsnreports.com/reports/246678-facial-recognition-market-emotion-thermal-mobile-forensic-2d-3d-cloud-based-facial-recognition-global-advancements-emerging-applications-business-models-and-worldwide-market-forecasts-and-analysis-2013-2018-.html .
The major forces driving the market are growth of surveillance market and huge spending by the government across the globe on biometric technologies. At the same time, various opportunities exist in consumer electronics segment, handheld devices segment and innovative cloud services based on face recognition technologies (anonymous face analysis). Over the past few years, Facial Recognition Market has crossed the chasm and has become more accurate, less costly and significantly mainstream. This has helped the technology to gain traction and investment from commercial sector. The development of 3D face recognition technology backed by improved imaging solutions, middleware and fast analytics has helped the technology to overcome its traditional flaws such as poor results in low lights, pose variation and image reconstruction.
Facial recognition market companies discussed in this report include Airborne Biometrics, Animetrics Inc., Afix Technologies Inc., Aware Inc., Cognitec Systems, Cross Match Technologies, Fujitsu, Gemalto N.V., Nec Corp, Rcg Holdings, Safetic, Safran Group, Suprema, Zk Software, 3m Cogent, Avalon Biometrics, Daon Inc., Digitalpersona Inc., Iris Id Systems Inc., Lumidigm Inc., Nextgen Id Inc., Nviso Sa, Neurotechnology, Oki Electric Industry and Xid Technologies. Order a copy of this report at http://www.reportsnreports.com/Purchase.aspx?name=246678 .
The report is based on the extensive research study of the facial recognition market and the related submarket within the ecosystem. The report is focused to give a bird's eye-view of the complete facial recognition industry with regards to technology and solutions, software, hardware and services. It also provides revenue distribution of the market based on various industry vertical or end-users. The report provides a unique view of the facial recognition market and how the market will evolve by 2018.
Segmentation of global face recognition market is done by types of technologies and solutions, components (hardware, software and services), industry verticals or end-users and regions. The technology and solutions segment comprises of 2D, 3D, thermal, emotion, mobile and forensic technology. The software segmented is further segmented by face recognition algorithms/SDK, middleware, database, modelling and analytic softwares. Under the services segment the report covers consulting and cloud-based services. The technology and components markets, along with each of their sub-segments are further bifurcated by regions. Regions covered include North America (NA), Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America (LA).
Image Recognition Market [Method (OCR, Object, Pattern Matching, Barcode/ QR, Facial), Application (Security & Surveillance, Quality Control & Inventory Management, Advertising, Scanning & Imaging, m-Commerce)] - Worldwide Market Forecast (2014-2019) is another research report of 187 pages that analyzes global adoption trends, future growth potential, key drivers, restraints, opportunities, and best practices in this market. The report also analyzes market sizes and revenue forecasts across different geographies as well as industry verticals. Image recognition is being applied in almost every field in today's world. It is just in the introduction phase of various industry applications. The technologies in which image recognition is being used include Augmented Reality (AR), visual search, virtual reality, big data, and mobile applications. Companies profiled in this report include Catchoom, Hitachi Ltd., Honeywell, Itraff Technology, LTU Technologies, NEC Corporation, Panasonic Corporation, Qualcomm Technologies, Toshiba and Wikitude Gmbh. Read more at http://www.reportsnreports.com/reports/277738-image-recognition-market-method-ocr-object-pattern-matching-barcode-qr-facial-application-security-surveillance-quality-control-inventory-management-advertising-scanning-imaging-m-commerce-worldwide-market-forecast-2014-2019-.html .
Explore more reports on IT & Telecommunications market at http://www.reportsnreports.com/market-research/information-technology/ .
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