About Facial Recognition in Consumer Electronics
Facial recognition is a biometrics software technology that is being used for individual identification and authentication. The identification and authentication process is carried out by comparing an individual's facial features extracted from an image with those stored in a database. Facial recognition is being used by enterprises in the government; banking, financial services, and insurance (BFSI); and defense sectors for preventing unauthorized access to high-security areas and private and public buildings.
Technavio’s analysts forecast the global facial recognition biometrics in consumer electronics to grow at a CAGR of 102.42% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global facial recognition biometrics in consumer electronics market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of consumer electronics integrated with facial recognition technology.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Facial Recognition in Consumer Electronics Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Facial Recognition in Consumer Electronics Market: Cognitec Systems, Dell, Google, and HP.
Other Prominent Vendors in the market are: 3M Cogent, Allied Time USA, AMD, Animetrics, Apple, ASUS, FacialNetwork, Fareclock, Intel Security, Kairos, KeyLemon, Lenovo, and Microsoft.
Commenting on the report, an analyst from Technavio’s team said: “The growing acceptance of e-commerce and high adoption of consumer electronics among end-users is expected to increase the adoption of facial recognition systems for recognizing customers, determining their age and gender, and predicting their buying behavior. Based on these factors, e-retailers can tailor advertisements for customers, which will help them generate more revenue. E-retailers can also recommend products with better deals to their customers. This will enhance the shopping experience of the customers.”
According to the report, growing usage of the internet, websites, and applications by end-users has led to an increase in the number of identity and data theft cases. With the growing popularity of social network websites, instances of identity theft cases have increased. With the increasing complexity of such attacks, awareness among end-users is increasing, which is forcing OEMs of consumer electronics to implement facial recognition solutions in laptops, smartphones, and tablets.
Further, the report states that the facial recognition market in consumer electronics is witnessing strong growth, but it continues to face strong competition from alternative technologies and products such as token-based two-factor authentication, swipe cards, and software authentication.
Cognitec Systems, Dell, Google, HP, 3M Cogent, Allied Time USA, AMD, Animetrics, Apple, ASUS, FacialNetwork, Fareclock, Intel Security, Kairos, KeyLemon, Lenovo, Microsoft.
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