Facial Recognition Market Worth $6.5 Billion by 2018

Facial Recognition Market Worth $6.5 Billion by 2018

DALLAS, May 15, 2013 /PRNewswire/ --

    Over the past few years, the Facial Recognition Market has crossed the chasm and has
become more accurate, less costly and significantly mainstream. This has helped the
technology to gain traction and investment from the commercial sector. The development of
3D face recognition technology, backed by improved imaging solutions, middleware and fast
analytics, has helped the technology to overcome its traditional flaws such as poor
results in low lights, pose variation and image reconstruction

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        - 86 Market Data Tables
        - 27 Figures
        - 171 Pages and an in-depth Table of Content on "Facial Recognition Market"

    http://www.marketsandmarkets.com/Market-Reports/facial-recognition-market-995.html

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    The major forces driving the market are growth of surveillance market and huge
spending by the government across the globe on biometric technologies. At the same time,
various opportunities exist in consumer electronics segment, handheld devices segment and
innovative cloud services based on face recognition technologies (anonymous face
analysis).

    The report "Facial Recognition Market: Global advancements, Emerging Applications,
Business Models and Worldwide Market Forecast and Analysis (2013 - 2018)" defines and
segments the global facial recognition market with analysis and forecasting of the global
revenues. It also identifies drivers and restraints for this market with insights on
trends, opportunities and challenges.

    MarketsandMarkets has segmented the face recognition market by types of technologies
and solutions, components (hardware, software and services), industry verticals or
end-users and regions. The face recognition technology and solutions segment comprises of
2D, 3D, thermal, emotion, mobile and forensic technology. The software segment is further
segmented by face recognition algorithms/SDK, middleware, database, modeling and analytic
software. Under the services segment, the report covers consulting and cloud-based
services. The technology and components markets, along with each of their sub-segments are
further bifurcated by regions. Regions covered include North America (NA), Europe,
Asia-Pacific APAC, Middle East and Africa (MEA), and Latin America (LA).

    The global Facial Recognition Market
[http://www.marketsandmarkets.com/Market-Reports/facial-recognition-market-995.html ] is
estimated to grow from $1.92 billion in 2013 to $6.50 billion in 2018. This represents a
Compound Annual Growth Rate (CAGR) of 27.7% from 2013 to 2018. In the current scenario,
government and utilities are expected to be the largest adaptor for face recognition
technology. In terms of regions, North America is poised to be the biggest market for face
recognition. However, over the next five years, APAC will experience increased market
traction, to become the biggest facial recognition market globally.

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