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World Face Recognition Biometrics Markets
Frost & Sullivan, Oct 2003
Rising Awareness and Increasing Security Concerns Boost Face Recognition Biometrics Market
Growth opportunities abound in the face recognition biometrics market with government and non-government enterprises evincing keen interest in implementing biometric solutions to combat terrorist attacks. Lucrative new markets arise specifically in areas of border control, immigration application, and passenger processing at airports giving this technology new life. The sudden interest is spurring performance evaluation and deployment in hitherto unexplored territories.
This research service analyzes the World face recognition biometrics market. It provides key market drivers, restraints affecting growth, and offers a detailed competitive market analysis. The research provides a seven-year revenue forecast across different vertical, application, and geographical segments. It provides detailed insights into recent developments, trends, and emerging applications.
New Legislations and Database Mining Applications are Spurring Growth
Important new legislations and standardization efforts by industry associations have given a tremendous impetus to face recognition biometrics, say the analysts of this research. The International Civil Aviation Organization (ICAO) recommends its usage as best suited in machine-readable travel documents (MRTD). Moreover, the U.S. Enhanced Border Security and Visa Entry Reform Act mandates the use of biometrics in travel documents, passports and visas, boosting biometric equipment and software adoption levels. It also mandates ICAO recommendations to be followed. With huge impending investments by these segments, participants targeting it can expect to witness high revenue growth.
Additionally, applications that require database mining hold great promise. Though face recognition technology experiences stiff competition from other biometric technologies in traditional areas of application such as physical access control and PC/network security, the technology is ideal for database mining applications such as driver's license programs, and casino surveillance. Face recognition technology's ability for database mining can be used to prevent multiple identities in driver's license, passport and visa databases. Since facial images are an intrinsic part of driver's licenses, visas and passports, there is a clear fit of face recognition technology, say the analysts.
Better Technologies Likely to Drive Growth
Consistent R&D efforts by manufacturers are directed toward improving accuracy and reliability of face recognition technology. Face recognition biometrics is in its early growth stage and needs high investments to boost market growth and solve the dual purpose of creating demand and generating awareness. With functionality improvements in the future and better technologies such as 3D face recognition, customers are likely to get better value for money, inform the analysts.
New application opportunities include expedited passenger processing and surveillance applications in the post 9/11 era. Face recognition's capability to perform one-to-many searches also enables applications that involve database mining.
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