Government, retail and smartphones to push facial recognition market to $7B by 2024

Government, retail and smartphones to push facial recognition market to $7B by 2024

Facial recognition is widely associated with mobile phone technologies such as Apple’s Face ID, and a trend towards more smartphone implementations is causing optimism in that market, but a new study available on MarketsandMarkets shows the global market for biometric facial recognition will be boosted by government initiatives and retail deployments as it grows to $7 billion by 2024. The overall facial recognition market is expected to grow at a 16.6 percent CAGR from $3.2 billion in 2019.

Smartphones and home security systems are still expected to boost market growth, but government projects to reduce terrorism and crime are expected to be a key growth driver, particularly in the Asia Pacific region.

Attendance tracking and monitoring is expected to be the fastest growth segment in the market by the report authors, and biometric check-ins via smartphone are identified as a significant trend. The BFSI, government and defense, and retail and eCommerce verticals have dominated global market share, and the report says the latter vertical holds huge growth potential.

A series of announcements this week attest to the momentum of those growth areas for facial recognition.

New smartphone implementations

The time-of-flight (ToF) modules supporting 3D image capture for biometric facial recognition in the forthcoming Samsung Galaxy S11 will be supplied by China’s Sunny Optical, Korean publication The Elec reports.

Sunny Optical also provides the ToF module for the Samsung Galaxy S10 5G. Kamuga and Partron will be the two main suppliers for the Galaxy S11 ToF modules in South Korea, however, according to the report.

The growing market share of Sunny is making some South Korean camera part suppliers nervous, an industry source told The Elec. The Chinese company is expected to provide about 20 percent of the camera lenses for Samsung smartphones this year.

TechRadar also reports a Samsung is likely to implement 3D facial recognition in its Galaxy S11 devices, citing code identified by XDADevelopers writer Max Weinbach. The article is notable for its consideration of the relative merits of 3D facial recognition and fingerprint biometrics as primary modalities for smartphone use.

New U.S. government air travel initiative details

Innovative Travel Solutions (ITS) by Vancouver International Airport has been announced as the supplier of the new self-service biometric kiosks for the NEXUS program for expedited border crossing between the U.S. and Canada. As Vancouver International was reported to be the first airport upgrading, it is little surprise ITS, which has recently supplied kiosks to airports in Barbados and the EU, is involved.

ITS BorderXpress has been configured to meet the requirements of the modernized Canada Border Services Agency (CBSA) program, which is a joint program with the Trusted Traveller program operated by U.S. Customs and Border Protection (CBP).

“This is another big first for us—being the first Canadian airport to offer NEXUS members an enhanced and more seamless border clearance process. I know our frequent travellers that utilize NEXUS will be pleased with this modernized solution,” says Craig Richmond, president and CEO of the Vancouver Airport Authority. “We are grateful for the collaborative relationship we have with our partners at the Canada Border Service Agency and to be once again chosen as the trusted partner for the first solution and rollout. We look forward to continuing to work together on the next phase to create a complete seamless journey for all NEXUS members.”

Korean Air, meanwhile, has announced the launch of facial recognition boarding for passengers departing from Atlanta through a partnership with Delta Air Lines, starting in November, Travel Daily reports.

Delta launched its biometric terminal at Atlanta’s Terminal F in partnership with U.S. Customs and Border Protection (CBP) in 2018.

The airline already uses facial recognition at Singapore and Los Angeles airports, and plans to expand the service to JFK in New York in December. Korean Air will also install facial recognition at Incheon International Airport in Seoul, and now allows seat assignment and self bag-tagging at self-service check-in kiosks at Incheon.

Fashion brand raises funds for personalization with facial recognition

Ruti, a clothing brand offering a highly personalized in-store experience with facial recognition, has raised $6 million in Series A funding, which it plans to use to further develop its proprietary technology for stores, scale online, and open new retail locations.

The company makes clothing designed specifically for women over 35 years old, and has developed a proprietary AI platform, which offers opt-in facial recognition for personalized recommendations based on the customer’s fashion preferences, according to the announcement.

“The thing that keeps tens of thousands of enthusiastic customers coming back to Ruti is their personal relationship with our brand. They appreciate that we are able to provide them with products catered to their style and the use of technology vastly enhances our ability to do just that,” said CTO, Sharon Segev.

Related Posts

Article Topics

 |   |   |   |   |   |   | 

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Research

Biometrics White Papers

Biometrics Events

Explaining Biometrics