Global Facial Recognition Market 2012-2016
- ID: 2603859
- July 2013
- Region: Global
- 44 Pages
The analysts forecast the Global Facial Recognition market to grow at a CAGR of 24.5 percent over the period 2012–2016. One of the key factors contributing to this market growth is the increasing high security requirement in government departments. The Global Facial Recognition market has also been witnessing an increased number of mergers and acquisitions. However, facial recognition systems are not always accurate and this could pose a challenge to the growth of this market.
The report, the Global Facial Recognition Market 2012–2016, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Global Facial Recognition market in the Americas, the EMEA, and the APAC landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
The key vendors dominating this space include are 3M Cogent, Inc., Cognitec Systems, NEC Corp., and Safran Group.
The other vendors mentioned in the report are Ayonix Inc. and EUROTECH.
Key questions answered in this report:
- What will the market size be in 2016 and at what will be the growth rate?
- What are key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by key vendors?
- What are the strengths and weaknesses of each of these key vendors?
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1. Executive Summary
2. List of Abbreviations
4. Market Research Methodology
Market Research Process
5. Scope of the Report
6. Market Landscape
6.1. Market Size and Forecast by Revenue
6.2. Five Force Analysis
7. Geographical Segmentation
8. Key Leading Countries
9. Vendor Landscape
10. Buying Criteria
11. Market Growth Drivers
12. Drivers and their Impact
13. Market Challenges
14. Impact of Drivers and Challenges
15. Market Trends
16. Key Vendor Analysis
16.1 Safran Group
16.1.1. Business Overview
16.1.2. Business Segmentation
16.1.3. Key Information
16.1.4. SWOT Analysis
16.2. NEC Corp.
16.2.1. Business Overview
16.2.2. Business Segmentation
16.2.3. SWOT Analysis
16.3. Cognitec Systems GmbH
16.3.1. Business Overview
16.3.2. SWOT Analysis
16.4. 3M Cogent Inc.
16.4.1. Business Overview
16.4.2. Business Segmentation
16.4.3. SWOT Analysis
17. Other Reports in this Series
List of Exhibits:
Exhibit 1: Global Facial Recognition Market Research Methodology
Exhibit 2: Global Facial Recognition Market 2012-2016 (US$ million)
Exhibit 3: Global Facial Recognition Market by Geographical Segmentation 2012
Exhibit 4: Business Segmentation of Safran
Exhibit 5: Business Segmentation of NEC Corp.
Exhibit 6: Business Segmentation of 3M Cogent
Commenting on the report, an analyst from the team said: “The Global Facial Recognition market is witnessing an increasing number of mergers and acquisitions, and this trend is expected to continue during the forecast period. The existing vendors and new entrants are taking the acquisitive route to either enter the market or broaden their portfolio of offerings. For instance, the French defense company Safran Group completed the acquisition of biometric solution provider L-1 Identity Solutions in July 2011 for US$1.09 billion. The acquisition helped Safran become a leading player in the Global Facial Recognition market. Similarly, 3M completed the acquisition of Cogent Inc. in December 2010 for US$943 million. In addition, Google acquired Ukrainian augmented and facial recognition start-up Viewdle for approximately US$30 million in 2012.”
According to the report, one of the drivers in this market is the growing need for high-level security in the Government sector. Government departments such as Intelligence, Defense, Finance, and Military are the major adopters and users of facial recognition technology. In recent years, the Government sector has been the major revenue contributor to the market.
Further, the report states that one of the major challenges in this market is the lack of accuracy in facial recognition systems. Sometimes, facial recognition systems may show errors in the identification process due to factors such as aging, plastic surgery, and the non-permanent makeup of the persons whose images are previously stored in the database.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are EUROTECH and Ayonix Inc.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.