Facial Recognition Market Size and Growth Prospects Till 2020

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Facial Recognition Market Size and Growth Prospects Till 2020 “The facial recognition market was valued at USD 3.35 Billion in 2016. Facial recognition is a biometric method which gives high-level security for private as well as public sector.�

The Facial Recognition Market was valued at USD 3.35 Billion in 2016. Facial recognition is a biometric method which gives high-level security for private as well as public sector. It compares the facial features with the database so as to provide authorization. Facial recognition consists of software, readers as well as the associated database to provide security along with accuracy. The method of facial recognition is highly efficient to avoid security issues in comparison with the traditional method such as token, passwords, and others. Increasing needs of security in government sector for employee attendance and recognition is anticipated to be a key driver for the market of facial recognition throughout the forecast period. Besides technological developments such as 3D recognition systems and cloud-based services are anticipated to fuel the overall demand for the market. Factors like plastic surgeries, makeup, aging and other medical procedures may affect the effectiveness of the system. The absence of accuracy, as well as costly implementation, may restrain the growth of the market in the coming six years. Increasing demand for data security has encouraged its implementation across the organization which is combined with increased employment of personal devices being a part of BYOD policy in the IT sector. Technology Insights It includes facial analytics, 2D, and 3D. Facial analytics is largely used in education and research, retail and police services to ascertain ever changing features like gender, age, and other facial attributes. 2D technology is broadly used due to the low cost of installation along with ease of operation as it makes use of twodimensional appearance recognition. 2D technology is not accurate in several conditions like changing expressions, angles, and environmental conditions.

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