Market outlook of facial recognition biometrics in the consumer electronics market
Technavio’s research analyst predicts facial recognition biometrics in consumer electronics market to grow tremendously at a CAGR of over 102% during the forecast period. The high adoption of mobile devices for financial transactions has increased the need for advanced security, which has been driving the market growth. As facial recognition biometrics provides high security and can be easily installed in mobile devices with built-in cameras, the technology is being increasingly used in consumer electronics.
However, competition from non-biometric authentication technologies such as PINs and passwords is impeding market growth. These non-biometric solutions have an increased acceptance level among enterprises as they are more cost-effective and user-friendly compared to biometric systems.
Segmentation by end-user and analysis of the facial recognition biometrics in consumer electronics market
- Enterprise
- Individual consumers
Individual consumers dominated the market in 2015, with a market share of over 60%. However, enterprise users will show high revenue growth at a rate of over 100% during the forecast period because of the growing awareness of the facial recognition biometrics technology and ease of implementation.
Geographical segmentation and analysis of the facial recognition biometrics in consumer electronics market
In 2015, the Americas accounted for the largest market share of over 35%, followed by APAC and EMEA. The Americas is expected to have the highest revenue growth in the market during the forecast period due to the presence of numerous vendors in this region.
Competitive landscape and key vendors
The global facial recognition biometrics in consumer electronics market is highly fragmented because of the presence of numerous small and large vendors. Providers in the market compete based on pricing, quality, innovation, service, reputation, distribution, and promotion. The high vendor competition has led to an increase in mergers and acquisitions.
The leading vendors in the market are –
- Cognitec Systems
- Dell
- Google
- HP
Other prominent vendors in the market include 3M Cogent, Allied Time USA, AMD, Animetrics, Apple, ASUS, FacialNetwork, Fareclock, Intel Security, Kairos, KeyLemon, Lenovo, and Windows.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global facial recognition biometrics in consumer electronics market?
- What are the key market trends impacting the growth of the facial recognition biometrics in consumer electronics 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 the vendors in the global facial recognition biometrics in consumer electronics market?
- Trending factors influencing the market shares of the Americas, EMEA, and APAC?
- What are the key outcomes of the five forces analysis of the facial recognition biometrics in consumer electronics market?
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Table of Contents
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
- Research methodology
- Economic indicators
PART 04: Introduction
PART 05: Market description
- Workflow of facial recognition systems
- Advantages and disadvantages of integrating facial recognition in consumer electronics
- Applications of facial recognition systems
- Comparison of facial recognition with other biometrics technologies
PART 06: Market landscape
- Market overview
- Market size and forecast
- Market developments and opportunities
PART 07: Life cycle analysis
PART 08: Market segmentation by application
- Segmentation of global facial recognition biometrics in consumer electronics by application 2015
PART 09: Market segmentation by end-user
- Segmentation of global facial recognition biometrics in consumer electronics by end-user 2015-2020
- Segmentation of global facial recognition biometrics in consumer electronics by individual consumers
- Segmentation of global facial recognition biometrics in consumer electronics by enterprises
PART 10: Geographical segmentation
- Segmentation of global facial recognition biometrics in consumer electronics by geography 2015-2020
PART 11: Buying criteria
PART 12: Market drivers
- High adoption of mobile devices for financial transactions
- Instances of identity and data theft
- Implementation of BYOD policy in enterprises
- High demand of facial recognition in healthcare sector
PART 13: Impact of drivers
PART 14: Market challenges
- Availability of non-biometric authentication technologies
- High error rates
- High deployment cost
- Lack of established international standards
PART 15: Impact of drivers and challenges
PART 16: Emerging trends in key sectors
- BFSI sector
- Retail sector
- Education sector
PART 17: Five forces analysis
PART 18: Vendor landscape
PART 19: Other prominent vendors
- 3M Cogent
- Allied Time USA
- AMD
- Animetrics
- FacialNetwork
- Fareclock
- Intel Security
- Kairos AR
- KeyLemon
- Apple
- ASUSTek Computer
- Lenovo Group
- Microsoft
PART 20: Appendix
PART 21: Explore Technavio