Global Facial Recognition Biometrics in Consumer Electronics Market 2016-2020

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

• Americas
• EMEA
• APAC

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?

Technavio also offers customization on reports based on specific client requirement.

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