A report said that the market for facial recognition is set to see 27.7 percent compount annual growth to 2018, when it will be worth around $6.5 billion.
The research from ReportsnReports.com said the market is segmented into various technologies including 2D, 3D, thermal imaging, “emotion” imaging and mobile.
And the forces driving the market are big spends by governments worlwide on biometric technology.
Companies big in the field include Afix Technologies, Fujitsu, Gemalto, Nextgen and many others. Other multinational corporations surveted include NEC, Qualcomm, Toshiba, Catchroom and Hitachi.
The research company claims that the facial recognition market has come into its own because of 3D technology, better imaging, better sofware and speedier analytics.
The market was worth $1.92 billion in 2013, the company estimates.
