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The Asia Pacific facial recognition market size is anticipated to experience a growth rate of 23.3% CAGR during the forecast period (2016 - 2022).
Facial recognition is a biometric security system that identifies a person from a digital image or video frame. Unlike fingerprints and iris recognition, the facial recognition system focuses on the facial features of a person. Facial features such as cheek bones, and the distance between eyes, and eye-brows are the factors that are used to differentiate customers; therefore, the need for physical contact of the subject for identification is not necessary. The facial recognition technology, though being relatively new, can be integrated into the existing surveillance systems. The market today is primarily driven due to technological advancements with a focus on developing efficient surveillance systems having the highest demand in both civil and government agencies due to rising incidences of criminal and terrorist activities and increasing fraud cases across the globe. Technological innovation nevertheless are positively influencing the market, as 3D facial recognition technology is now being integrated into facial recognition systems which can scan images in all environmental conditions. The 3D integration would support better object recognition and overcome barriers of 2D facial recognition such as light and pose deflections of an object. Covert monitoring of an individual could be a threat to privacy and would be a hindering factor to the growth of the market. Increased adoption of facial recognition technology in web applications for picture tagging, social interaction, and others nevertheless is expected to drive the demand for facial recognition system.. The report highlights the adoption of Facial Recognition. Based on the Technology type, the Facial Recognition market is segmented into 2D, 3D and Facial Analytics. Based on the Component type, the market is segmented across Hardware and Software. Hardware segment is further subdivided across Scanners, Cameras, Hand held devices and Integrated devices. Based on Application Type, the market is segmented into Homeland security, Criminal Investigation, ID management, Physical security, Intelligent signage, Web application, Business intelligence, Photo indexing and sorting and Others. Based on Country, Asia-Pacific Facial Recognition market is segmented into China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia-Pacific. China remained the dominant Country in the Asia-Pacific Facial Recognition market in 2015. Malaysia would witness highest CAGR during the forecast period (2016-2022). The report covers the analysis of key stake holders of the Facial Recognition market. Key companies profiled in the report include Microsoft Corporation, Gemalto NV, Daon Inc., 3M Company, IBM Corporation, Nuance Communications, Inc., Cognitec Systems GmbH and Animetrics.