India Face Matching And Authentication Software Market By Deployment Type (On-premise & Cloud), By Authentication type (1: 1 & 1: N), By Verticals (Office Workspace, Banking & Telecom, Construction, Manufacturing & Others), Competition Forecast & Opportunities, 2024
India face matching and authentication software market is projected to grow from $ 700.6 million in 2018 to $ 4,336 million by 2024, exhibiting a CAGR of 35.9%. Growth in the market can be attributed to increasing use of multimodal biometric adoption, growing demand for cloud based face matching and authentication software and increasing demand in banking & financial sector. Moreover, rising use of face matching and authentication software in smartphones is further fueling growth in the market.
Among deployment type, cloud deployment dominated India face matching and authentication software market in 2018 and is also expected to be the fastest growing deployment type during the forecast period owing to its various benefits such as reduced IT staffing/administration, increased flexibility and on demand scalability and reduced total cost of ownership.
By Authentication Type, 1: N authentication type dominated India face matching and authentication software Market in 2018 and is also expected to be the fastest growing authentication type during the forecast period owing to the ongoing enhancement of software to increase the accuracy rate, i.e., reduce false acceptance rate (FAR) and false rejection rate (FRR). As a result, the speed of authentication is reduced to an average of 1-5 seconds. Moreover, 1: N also reduces the additional cost of cards or other devices/tokens required in case of 1: 1 authentication type.
Among verticals, office workspaces dominate India face matching and authentication software market as it requires facial recognition for various applications including physical access to workplace, attendance tracking and user provision to corporate networks. Moreover, increasing acceptance of facial recognition for attendance tracking and access control applications is further contributing to the growth of this segment.
By Region, South region garnered the highest market share in 2018 and is expected to continue its dominance throughout the forecast period as well owing to the region being the IT hub of India coupled with the growing government initiatives in the region.
NEC Technologies India Private Limited accounts for the largest share in India face matching and authentication software market.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
- bjective of the Study:
- To define, segment, describe and forecast the India face matching and authentication software market on the basis of deployment type, authentication type, verticals, region and company.
- To analyze and forecast India face matching and authentication software market size.
- To scrutinize the detailed market segmentation and forecast the market size, on the basis of segmenting the India face matching and authentication software market verticals into following, namely, office workspace, banking and telecom, construction, manufacturing, real estate commercial, retail outlets, event management, warehouse, entertainment and others.
- To identify the drivers and challenges for India face matching and authentication software market.
- To analyze and forecast the market size for India face matching and authentication software market with respect to deployment type, authentication type, verticals, region and company.
- To strategically profile leading players in the market which are driving the innovation and technological advancements in India face matching and authentication software market.
Key players in India face matching and authentication software market are NEC Technologies India Private Limited, Videonetics Technology Private Limited, Matrix Comsec Private Limited, Gemalto Digital Security Private Limited and AllGoVision Technologies Pvt Ltd, among others.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of face matching and authentication software in India. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. TechSci Research further analyzed the security offerings or variants of major face matching and authentication software.
TechSci Research calculated the market size for India face matching and authentication software market using a bottom-up approach, where data for different components for standard application were recorded and forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and these were externally validated through analyzing historical data of face matching and authentication software market to arrive at the overall market size. Various secondary sources such as secondary Company Website, Company Annual reports, Press Releases, white papers, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- India face matching and authentication software providers
- Research organizations and consulting companies
- Associations, organizations and alliances related to face matching and authentication software
- Government bodies such as regulating authorities and policy makers
- Industry associations
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as face matching and authentication software, companies, customers and policy makers, about the targeted market segments in coming years in order to strategize investments and capitalize on the growth of market segment.
In this report, India face matching and authentication software market has been segmented into the following categories in addition to the industry trends which have also been detailed below:
- Market by Deployment Type,
- Market by Authentication Type,
- 1: N
- 1: 1’
- Market by Verticals
- Office Workspace
- Banking and Telecom
- Real Estate Commercial
- Retail Outlets
- Event Management
- Market by Region,
- Market by Company,
- NEC Technologies India Private Limited
- Videonetics Technology Private Limited
- Matrix Comsec Private Limited
- Gemalto Digital Security Private Limited
- AllGoVision Technologies Pvt Ltd.
Company Profiles: Detailed analysis of the major companies providing face matching and authentication software.
With the given market data, TechSci Research offers customization according to the company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five)
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