Facial Recognition Access Control Solution Market: Market Overview
An increasing number of attacks has made increasing security measures a top priority for many organizations, which is contributing to the facial recognition access control solution market across the globe.
As organizations are increasing their focus on secure authentication methods for user access, e-Commerce, and other safety applications, the demand for facial recognition access control solutions is growing rapidly. The increasing dependency on digital technologies and automation is further driving the growth of the facial recognition access control solution market.
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Moreover, the continuous demand for enhanced security and identification systems has led to the increasing adoption of facial recognition access control solutions. Furthermore, as businesses strive to implement the right mix of technologies and policies for security and reliability, the demand for facial recognition access control solutions is expected to grow rapidly, which further drives the growth of the facial recognition access control solution market.
A facial recognition access control solution serves as a bundle of a highly secure identification and personal verification solution for encountering security breaches and transaction frauds. The widespread deployment of facial recognition access control solutions and technologies for information and physical access security is fuelling the growth of the facial recognition access control solution market.
In addition, with the exponential increase in the number of users switching to mobile banking, various organizations are adopting facial recognition access control solutions as security measures. Due to these factors, the demand for facial recognition access control solutions is expected to increase rapidly in the near future.
Facial Recognition Access Control Solution Market: Drivers and Challenges
The meteoric rise in the demand for smartphones and tablets is one of the primary factors fuelling the growth of facial recognition access control solution market. Also, the rise in demand for facial recognition access control solutions for identification and verification applications in BFSI (banking, financial services, & insurance), government, retail, and healthcare industries is creating potential growth opportunities for the facial recognition access control solution market.
The primary application of a facial recognition access control solution is to provide accessibility to an authorized individual into a premises. Owing to this enhanced security and identification feature of a facial recognition access control solution, the governments of various countries are taking initiatives for promoting the adoption of such a facial recognition access control solution.
Apart from this, increasing applications of facial recognition access control solutions on smartphones is creating potential growth opportunities for the facial recognition access control solution market.
Furthermore, the rising trend of device-embedded facial recognition access control solutions and growing preference for automated identity authentication solutions are some of the major factors driving the growth of the facial recognition access control solution market.
However, issues such as lack of infrastructural development for the implementation and adoption of facial recognition systems, at various regions, acts as a restraining factor for the facial recognition access control solution market.
Moreover, the high deployment cost of a facial recognition access control solution is one of the major factors due to which various small and medium organizations are not adopting facial recognition access control solutions, and this is one of the major challenges for the growth of the facial recognition access control solution market.
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Facial Recognition Access Control Solution Market: Segmentation
Segmentation of the facial recognition access control solution market on the basis of technology:
- 3D Facial Recognition
- 2D Facial Recognition
- Thermal Face Recognition
Segmentation of the facial recognition access control solution market on the basis of component:
- Software
- Hardware
- Services
Segmentation of the Facial recognition access control solution market on the basis of end user:
- Government
- Automotive & Transportation
- BFSI
- Aerospace & Defense
- Retail
- Hospitality
- Others
Facial Recognition Access Control Solution Market: Competition Landscape
Key Players
Some of the major players in the global facial recognition access control solution market are NEC Corporation, Idemia, Gemalto NV, Ayonix Corporation, Cognitec Systems GmbH, Aware, INC., Daon, Inc., Neurotechnology, Herta Security, Keylemon SA, and other facial recognition access control solution providers.
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