Prologue: a glance at the marketFacial biometrics comes on strong
Though smaller than the fingerprint industry, facial recognition is expected to be a $1 billion business by 2012; high costs prevent more rapid expansion; interested companies are advised to emphasize security benefits to help boost the market
As reported above, fingerprint biometrics is a booming business. We would be remiss, however, if we did not also mention a growing market for facial recognition technologies as well. Frost and Sullivan has issued a complementary report on that sector, and the news is just as good. “Face recognition biometric technologies hold immense revenue-generating potential, especially in the government vertical,” wrote Frost and Sullivan Industry Analyst Sapna Capoor. “Currently, one of the primary drivers of this market is the mandated adoption of face recognition biometric technologies for passports.” According to Capoor, spending will grow from $186 million to more than $1 billion in 2012.
As Capoor notes, the industry growth is largely due to the 2003 decision by the International Civil Aviation Organization to adopt facial recognition as the core technology supporting the new e-passports. Nevertheless, high prices remain a challenge, especially when the technology is put up against non-AFIS fingerprint scanners. “Large-scale adoption of face recognition systems arising from wider deployment in the government vertical will help in reducing the cost of face recognition systems,” says Capoor. “While this is not anticipated till 2007/2008, reduction in the cost of these technologies is expected to result in a considerable increase in demand.” Although costs are certain to decline somewhat, Capoor recommends that vendors emphasize the security advantages of facial recognition over fingerprint biometrics, which, as we have frequently reported, are considerable.
-read more in this industry news release
