5 Applications of Facial Recognition Technology

Facial Recognition is becoming a growing trend in IT Solutions, for everything from Social Media to cybersecurity solutions to mobile authentication.Facial recognition is the least intrusive and fastest growing fields of biometric technology.

Biometrics in general is the body’s measurements and calculations – the metrics of the human body and characteristics.

The study of the body’s measurements and relationships goes back throughout human kind, but the technology to quantify it has been significantly advanced by current technology.

Also, the recognition systems have to be completely free, but it can make sure the tests are run perfectly. Facial recognition technology is improving by leaps and bound as per the restricted need. The most fabulous part of this software is an expert in differentiating the basic faces from the rest of the scene.

Facial Recognition is used when issuing identity documents, most often combined with other biometrics systems.Facial recognition is a process of identifying or verifying the identity of a person using their facial features.

It captures and compares the patterns of the facial features, based on the person’s facial details.

From enhancing cyber security to improving office securities to solving a crime, facial recognition technology can be a revolution to the world.

As per Markets and Markets, by 2024, the global facial recognition market could generate $7 billion in the revenue.How does Facial Recognition technology support security?Doesn’t it sound like some science fiction, when we talk about how facial recognition helps us in keeping our data secure or helping the police department to find the criminals?

A lot of organizations, public sector departments and people have started using facial recognition for security purposes.Places like airports to monitor people checking in or checking out at the airports.

Even new security applications on mobile devices have put facial recognition in the spotlight, it involves illuminating someone’s face with an infrared (IR) source and detects the image.

During the forecast period, the market will be supported by a rise in the disposable income and the growing application areas.

The risk of false matches presents on the other hand will challenge information technology sector based organizations functioning in the global facial recognition market.

Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/1250   Competitive Outlook: The global facial recognition market research report brings a comprehensive study of technology, hardware & software, and vertical market segments, regional analysis, and information technology vertical based company details of key players.

As the forecast period 2016 to 2022 will bring new opportunities for the market owing to the increasing disposable income and the increasing preference of consumers, the market is set to grow at a compound annual growth rate of 19.68% and is predicted to reach a value of US$8.93 billion by 2022.

With SWOT analysis of information technology sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as the lack of developed infrastructure and the lack of R investments, companies in the information technology sector can change the way business is done.

To study the market, analysts have further segmented technology, hardware & software, and vertical into 2D recognition, 3D recognition, and thermal recognition on the basis of technology.

Looking back at the 1990s, technology was limited to computers, the internet, emails, wired telephony, but advancements in technology have led to a sweeping change in its role as an indispensable necessity in our lives and society.

In the subsequent sections, we will see the expanse of AI and ML in various use cases as well as understand their role in one of the most advanced forms of biometric security — facial recognition.What Is Artificial Intelligence (AI)?AI is a technology that simulates human intelligence processes using machines to make cognitive decisions.

Secondly, it adds intelligence to products in the areas of automation, conversational platforms, smart machines, and bots.

Lastly, Artificial Intelligence helps in monetizing data for businesses to stay ahead of the curve.What Is Machine Learning (Ml)?Machine Learning is a subset of AI that mainly focuses on using data and algorithms to mimic human learning.

It converts unstructured data to manageable groups for processing through a process known as dimensionality reduction.On the other hand, neural networks also known as artificial neural networks comprise node layers — an input layer, multiple hidden layers, and an output layer.

In the basic neural network, two or three layers are present whereas a deep neural network consists of more than three layers.How Does ML Work?An ML algorithm has three components:Decision processError FunctionModel OptimizationIn the decision process, an initial input is analysed to make a prediction or estimation of the pattern in the data.

MarketsandMarkets forecasts the facial recognition market size to grow from USD 3.8 billion in 2020 to USD 8.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 17.2% from 2020 to 2025.

Growing importance of the surveillance industry, increasing investments in facial recognition technologies by government and defense sectors and Increased technological advancements across industry verticals to boost the growth of facial recognition market across the globe during the forecast period.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=995The major facial recognition vendors include 27 major vendors, namely  NEC Corporation (NEC) (Japan), Aware, Inc. (Aware) (US), Ayonix Corporation (Ayonix) (Japan), Cognitec Systems GmbH (Cognitec Systems) (Germany), NVISO SA (nViso) (Switzerland), Animetrics (US), Neurotechnology (Lithuania), Daon (Ireland), Stereovision Imaging, Inc. (SVI) (US), Techno Brain (Dubai), Innovatrics (Bratislava), id3 Technologies (id3) (Israel), Thales (France), Idemia (France), Nuance Communications, Inc. (Nuance) (US), BioID (Germany), Fulcrum Biometrics, LLC.

(Fulcrum Biometrics) (US), TrueFace.AI (US), Amazon (US), FacePhi (Spain), Herta Security (Herta) (Spain), Kairos AR, Inc. (Kairos) (US), SightCorp Inc. (SightCorp) (The Netherlands), and Microsoft Corporation (Microsoft) (US).By application, law enforcement segment to have highest market share during the forecast periodBy application area, the facial recognition market has been mainly categorized into emotion recognition, attendance tracking and monitoring, access control, law enforcement, and others.

Over the past decade, many major technology players have acquired companies that are operating in the facial recognition domain to add value to their own services.

Wearing masks has made face recognition difficult, which leads to the need to modify or upgrade the existing algorithms, involving the iris, pupil, sclera, upper and lower eyelids, eye folds, eye corners, skin texture, fine wrinkles, skin color, and skin pores, has also increased.

This is expected to fuel the growth of law enforcement application market in the coming years.Among the verticals, government and defense to hold the largest market size during the forecast periodThe growing number of government and defense investments in implementing facial recognition technology for various activities, such as border control and criminal identification, are driving the adoption of the facial recognition technology solutions and services.

As per the report that has been recently published by Market Research Future (MRFR), the global facial recognition market is expected to witness significant expansion at a robust CAGR of over 19.68 % during the forecast period of 2016-2022 and reach USD 8.93 Bn by the end of the forecast period.Market Scenario:The facial recognition system is a technology used for the identification of individuals from digital images or video clips by comparison of selected facial features with the available database.

The vital application of facial recognition systems in military and defence sector owing to the proliferating terrorist activities and increasing crime rate and incorporation of facial recognition systems in various government and private organizations for security purposes are some of the major factors driving the global facial recognition market.The advancement in technology is facilitating the incorporation of facial recognition systems in various personal devices such as computers, laptops, and smartphones in order to maintain the user privacy and data security.

The rise in adoption of digital door lock systems which use facial recognition technology along with other biometrics such as fingerprint and retina scanning is positively impacting the expansion of the global facial recognition market.The increasing rate of home invasions, burglaries, and other major crimes is generating a dire need for facial recognition systems in all the regions of the world, leading to the growth of the global facial recognition market.

The widespread application of facial recognition systems in the consumer electronics sector is also proving to be a vital factor fuelling the expansion of the global facial recognition market.However, the high installation and maintenance cost and low penetration of advanced technology in underdeveloped regions of the world are likely to create prime hindrance in the expansion of the global facial recognition market during the forecast period.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/1250Market Segmentation:The global market for facial recognition has been segmented on the basis of technology, hardware and software, and verticals.

Based on technology, the facial recognition market is segmented into 2D recognition, 3D recognition, and thermal recognition.

Based on verticals, the facial recognition market is segmented into large organization, government, airports, home security, and others.Detailed Regional Analysis:Geographically, the global facial recognition market is segmented into four major regions such as North America, Europe, Asia Pacific, and the Middle East and Africa.