by Shane Henson — September 18, 2013—TechNavio, a technology research and advisory company with global coverage, recently released a report detailing how the global facial recognition market is witnessing an increasing number of mergers and acquisitions, and how this trend is expected to continue during the forecast period.
According to the report, Global Facial Recognition Market 2012-2016, one of the drivers in this market is the growing need for high-level security in the government sector. Government departments such as intelligence, defense, finance, and military are the major adopters and users of facial recognition technology. In recent years, the Government sector has been the major revenue contributor to the market, the report says.
Further, the report states that one of the major challenges in this market is the lack of accuracy in facial recognition systems. Sometimes, facial recognition systems may show errors in the identification process due to factors such as aging, plastic surgery, and the non-permanent makeup of the persons whose images were previously stored in the database.
The study was conducted using an objective combination of primary and secondary information, including inputs from key participants in the industry, says TechNavio.
