Adroit Market Research - Industry Insights

Echoing standard biometric solutions for identity verification, facial recognition is a unique means to gauge unique characteristics in the interest of identity authentication. Essentially, a facial recognition system identifies unique images and features to subsequently match with its vast database of images. Facial recognition technology is based on complex computation and algorithms that are designed from unique physical attributes and behavioral response amongst individuals.

Owing to its versatility, facial recognition technology finds ample adoption across diverse end-use application

Echoing standard biometric solutions for identity verification, facial recognition is a unique means to gauge unique characteristics in the interest of identity authentication. Essentially, a facial recognition system identifies unique images and features to subsequently match with its vast database of images. Facial recognition technology is based on complex computation and algorithms that are designed from unique physical attributes and behavioral response amongst individuals.

Owing to its versatility, facial recognition technology finds ample adoption across diverse end-use applications such as banking and transacting apps, smart devices, border authentication for travelers and the like. In recent times, facial recognition technology is overtly adopted in social media platforms. Features such as tagging is based on facial recognition technology.

However, owing to stringent protocols, social media platforms are adopting new and improved privacy policies governing the use of facial recognition technology for superlative social media experience. Soaring instances of identity threats remain core growth propellants in global facial recognition market. With ubiquitous reliance on web based solutions on the back of smart device ownership as well as pervasive internet connectivity, scope for identity threats has increased visibly, thus reinforcing reliance on advanced safety parameters.

Factors as such are poised to influence remunerative returns in global facial recognition market in the coming years. As identity thefts become more prevalent and challenging, advances in biometric solutions are foraying to capture physical and behavioral features of users, thus eliminating scope for forgery.

Improved Healthcare Funding to Leverage Quick Adoption of Advanced Facial Recognition Technology

On the back of surged disease prevalence, healthcare industry is at the forefront to adopt novel tracking solutions for optimum care delivery across patient pools. Patient identification has always remain a potential challenge, interfering grossly with optimum care delivery models.

With digital workflow gaining momentum in healthcare, facial recognition has become indispensable to avert patient data mismatches, thus eliminating scope for wrong treatments and unnecessary price hikes.

Some of the core functionalities delineated by facial recognition in healthcare industry comprise, maintaining optimum safety in hospital premises, emotion detection of patients to leverage improved care, arrest patient forgery and the like. With optimistic outlook for improved healthcare models across matured and emerging economies alike, scope for integrated facial biometrics remains robust, thus harnessing million dollar growth opportunities in global facial recognition technology market.

Novel R&D Practices Target Mobile App Based Facial Recognition for Patient Verification

Several ongoing R&D ventures are in place to offset the limitations of other biometric identification systems such as fingerprint scanners, RFID, iris scanners and the like. These identification systems are at greater risks of infection transmission and data loss. Thus, inclusion of a versatile facial recognition mobile health app is likely to be soon embraced for accurate patient identification and verification process. The app is designed to function on several verticals such as maintaining medical records, patient registration, appointments and prescriptions. Mobile facial recognition aids in accurately identifying patient pools.

Yet another facet of facial recognition is preventing potential cases of drug abuse. Emerging economies such as China is taking massive leaps in arresting such instances. In this regard, government of China has recently doled out facial recognition identification method to accurately identify and prevent drug abuse across patient and supplier chains. According to these developments, buyers need to authenticate their need to consume sedatives and psychotropic drugs via facial recognition authentication process. China conducted this pilot survey across 31 healthcare facilities and is expected to be launched extensively early next year.

3D facial recognition technology is the latest market trend driving revenue maximization. The technology essentially uses a 3D model that is touted to offer superlative accuracy by capturing 3D image in real time, comprising distinct features, tissues and bones which are not subject to alterations. 3D facial recognition technology is also compatible in the dark or dim light surroundings and follows a step-by-step sequence commencing with detection, alignment, measurement, representation, matching and verification.

Google to Unveil Latest 3D Facial Recognition Technology in its Proprietary Pixel 4 Smartphone

Companies in facial recognition technology market are relentlessly making investments to offer best in class 3D facial recognition technology to align with diverse end-use applications. In this light, Taiwan based Lips Corporation, best known for its 3D sensing technologies has recently unveiled its advanced 3D facial recognition solution at an event, Ifsec International late last year in the UK. The development is likely to curb the limitations of 2D facial recognition technologies that could be manipulated with photos and masks. This latest 3D facial recognition technology works on 3D liveness detection to assist high grade security access and biometric authentication protocols.

Further in 3D facial recognition technology space, smartphone manufacturers are also integrating advanced facial recognition system in their proprietary smartphones to align with consumer preferences and stringent safety protocols. In this light, Google next big smart phone venture is likely to integrate unique 3D facial biometrics to accommodate safe device unlocking and deliver secure transactions. Other additional features such as gesture identification and motion sensing are also additional features, allowing 3D facial recognition technology market to grow unabated.

Yet another novel application of facial recognition capabilities is in the retail sector where kiosks are overtly accommodating these technologies to ensure improved consumer experience. Applications such as inventory robots, displays, virtual fitting and security are all governed by 3D imaging. Thus, facial recognition technology market is anticipated to remain bullish with optimistic retail expansion as well as thorough adoption across retail chain.