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Global Facial Recognition Market 2011-2014

VIEWS: 42 PAGES: 27

TechNavio’s analysts forecast the Global Facial Recognition market to grow at a CAGR of 29.4 percent over the period 2011–2014. One of the key factors contributing to this market growth is the enhanced performance of facial recognition technology. The Global Facial Recognition market has also been witnessing improved facial recognition technology performance. However, the high cost of facial recognition technology could pose a challenge to the growth of this market. TechNavio’s report, Global Facial Recognition Market 2011-2014, has been prepared based on an in-depth analysis of the market with inputs from industry experts. The report covers the Americas, and the EMEA and APAC regions; it also covers the Global Facial Recognition market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market. Key vendors dominating this market space include Morpho, NEC Corp. and Cognitec Systems GmbH. Key questions answered in this report: What will the market size be in 2014 and at what rate will it grow? What key trends is this market subject to? What is driving this market? What are the challenges to market growth? Who are the key vendors in this market space? What are the opportunities and threats faced by each of these key vendors? What are the strengths and weaknesses of each of these key vendors?

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									2011-2014   Global Facial Recognition Market




                                 technavio insights
2011-2014          Global Facial Recognition Market




            CONTENTS


            01. Executive Summary ..............................................1

            02. Introduction ...........................................................2

            03. Market Coverage .................................................4

            04. Market Landscape ................................................5

            05. Vendor Landscape ...............................................9

            06. Buying Criteria .....................................................11
            07. Market Growth Drivers ........................................12

            08. Drivers and their Impact .....................................14

            09. Market Challenges .............................................15

            10. Market Trends ......................................................16

            11. Key Vendor Analysis ...........................................18
            11.1 Morpho ................................................................................. 18

            11.2 NEC Corp.............................................................................. 20

            11.3 Cognitec Systems GmbH ................................................... 21

            12. Other Reports in this Series .................................23




2011-2014                                                     Global Facial Recognition Market
2011-2014       Global Facial Recognition Market




            EXHIBITS

            Exhibit 1: Global Facial Recognition Market 2010 –2014
                       (US$ million)............................................................................5

            Exhibit 2: Global          Facial         Recognition              Market           by
                       Geographical Segmentation 2010 ....................................6

            Exhibit 3: Global Facial Recognition Market by Vendor
                       Segmentation 2010 ..............................................................9




2011-2014                                                    Global Facial Recognition Market
Global Facial Recognition Market                                                                   1

      01. Executive Summary
                             2010: US$513 million
        Market Size
                             2014: US$1,439 million

        Growth Rate          29.4 percent CAGR

                             The Americas
        Key Geographies      EMEA
                             APAC

                             Government Organizations
        Key Customer         Financial Services
        Segments             Healthcare
                             Travel and Transportation

                             Improved Technology Performance
        Trends               New Markets for Facial Recognition Technology
                             Increasing Adoption of Technology by Government Agencies

                             Enhanced Performance of Technology
        Drivers              Regulation Drives the Growth of Facial Recognition Technology
                             Government Investment in R&D Increases Sales Revenue

                             High Cost of Facial Recognition Technology
                             Long Sales Cycles in the Government Sector Delays Rapid
        Challenges
                             Adoption
                             Competition from other Biometrics Technologies

                             Cost-effective Solution with Improved Accuracy Rate
        Key Customer Needs   Tailor Made and Easily Integrated with other Biometric Devices
                             Multi-purpose Solution with Low Maintenance

                             Morpho
        Key Vendors          NEC Corp.
                             Cognitec Systems GmbH




2011-2014                                                           Global Facial Recognition Market
Global Facial Recognition Market                                                                               2

      02. Introduction
      Biometrics is a process used for the recognition of individuals based on their biometric
      characteristics. Facial recognition technology is a part of the Biometrics market, used for
      identifying or recognizing an individual from a digital image or from a video source. This
      application is mainly used by the Government, Financial, and Healthcare sectors to recognize
      individuals. Facial recognition is used for verification, identification, and for access control. With
      a database-mining feature, it identifies individuals with various samples available in the
      database and provides access privileges based on individuals. Governments also use facial
      recognition in border con
								
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