Facial Recognition Systems’ Market to Continue Growth Despite COVID-19 Pandemic
Comments Off on Facial Recognition Systems’ Market to Continue Growth Despite COVID-19 Pandemic
The global facial recognition market is set to grow from USD 3.8 billion in 2020 to USD 4.5 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 17.1% during the forecast period, a recent market research report has been able to suggest.
The research paper from ResearchAndMarkets, titled “COVID-19 Impact on the Facial Recognition Market by Component (Software Tools and Services), Vertical (BFSI, Government & Defense, Retail & E-Commerce, Healthcare, Education, Automotive, and Others), and Region – Global Forecast to 2021” points out that the major growth factors in the facial recognition industry include government and companies worldwide shifting their focus on facial recognition from touch-based biometrics.
The demand for services is on a surge during the pandemic due to a rise in the tailored demands of customers. The requirement of innovative cloud-based facial recognition solutions, which are effectively coupled with big data, AI, security, and network connectivity, is on a surge in different verticals. The adoption of cloud-based facial recognition is expected to rise in the coming years, as regulatory authorities of various countries are majorly focused on monitoring the health, safety, and surveillance of their citizens.
Governments across the world are using facial recognition solutions and other surveillance technology for contact tracing to limit the spread of coronavirus. Countries such as Singapore, Taiwan, South Korea, and even some parts of India used contact tracing across digital and physical space. When an individual is admitted with COVID-19 symptoms, the government retrieves the data spanning 14 days before his/her travel history, purchases, people who came in contact. These people have been tested and asked to home quarantine themselves. This was possible with the help of facial recognition and other technology implementation in public and private areas.
CCTV Surveillance – The experts in deploying Facial Recognition CCTV systems
The Facial Recognition CCTV solution supplied by CCTV Surveillance dynamically compares images of individuals from incoming video streams against those stored in a predefined access control list and immediately sends alerts when a positive match occurs.
The technology yields a very good level of performance despite partial occlusions of the face, the use of glasses, scarves or caps, changes of facial expression, and moderate rotations of the face. Moreover, it does not allow users to be impersonated using photographs.
This biometric access control technology is the perfect solution to control the access to restricted security areas, especially since we’re talking about a completely automated system that requires very little interaction with the operator.
Our Facial Recognition CCTV system can be easily integrated with existing ID management products and enables administrators to easily create Whitelists/Blacklists for specific areas, while subjects can be very easily enrolled from one or more photographs.
The system fully supports runtime alarm management, is highly tunable (control based on time-frames, sequentially, etc) and even allows alarms to be exported to common formats (PDF, Excel) and remote devices (mobile, PDA, tablet, security control centre).