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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.
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.
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.
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 –
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.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market description
PART 06: Market landscape
PART 07: Life cycle analysis
PART 08: Market segmentation by application
PART 09: Market segmentation by end-user
PART 10: Geographical segmentation
PART 11: Buying criteria
PART 12: Market drivers
PART 13: Impact of drivers
PART 14: Market challenges
PART 15: Impact of drivers and challenges
PART 16: Emerging trends in key sectors
PART 17: Five forces analysis
PART 18: Vendor landscape
PART 19: Other prominent vendors
PART 20: Appendix
PART 21: Explore Technavio
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