Facial recognition is a biometric technique that compares face traits from an image to a database of stored facial information to authenticate and identify people. Due to its expanding use in both law enforcement and non-law enforcement applications, it is predicted to increase rapidly during the forecast period. Furthermore, due to its non-contact procedure and ease of deployment, facial recognition is often preferred over other biometric technologies such as voice recognition, skin texture recognition, iris identification, and fingerprint scanning. Furthermore, the use of facial recognition has expanded due to rising applications in physical security and intelligent signage, as well as technological improvements such as cloud-based services and 3D-based recognition systems. However, in some places, rising sensitivity to shared personal data, a lack of accuracy, and a high implementation cost stymie industry progress. Face recognition systems that are technologically advanced and have applications in mobile security and drones are anticipated to provide more opportunities in the future.
IDEMIA, LEIDOS, NEC CORPORATION, THALES GROUP AND COGNITEC – PROMINENT MARKET PARTICIPANTS IN FACIAL RECOGNITION MARKET
IDEMIA, Leidos, NEC Corporation, Thales Group and Cognitec are some of the key market players operating in the global facial recognitions market. The listing of key players is derived by considering multiple factors such as overall revenue, current facial recognition product portfolio, geographical reach, new product launches, market initiatives, investment in technology upgradation, partnerships, and other market related activities. In addition to these players, there are several other important players operating in the facial recognition ecosystems which were studies analyzed during the course of this market research study, such as, Tech5, Aware Inc., Ayonix Corporation, Onfido, and Face PHI.
Most of the market initiatives were observed in Europe and APAC region, which have a high potential of market-related products, solutions, and services. Few of the important market initiatives from the industry are mentioned below:
| Year | News | Country |
| 2022 | Tech5 partnership with NIDP Ethiopia Partners in the field if biometric and digital ID Technologies. | Europe |
| 2021 | Fujitsu Limited announced that its facial recognition tool is able to analyze face even if personnel is wearing mask. | APAC |
