The growth of Facial recognition technology
Facial recognition is one of the widely accepted biometric technologies. Due to its versatile uses and easy adoption, its market size is increasing enormously. According to the Grand View Research paper, global facial recognition market size was valued at USD 3.4 billion in 2019 and is anticipated to expand at a CAGR of 14.5% from 2020 to 2027.
Application of Facial Recognition
Emotion Recognition - Using Artificial Intelligence and a digital camera to capture facial expressions, we can easily understand what a person is feeling. Mostly used is entertainment events to understand if people like the show.
Access control - Mostly used by offices for automatically recording clock-in and clock-out timings. After the pandemic to ensure safety organizations are using touchless access. Our TAM is one such solution which uses facial recognition for touchless Access.
Security - Mostly border authorities and police forces are using this feature to catch offenders. Comparing faces with their database they identify miscreants easily ensuring safety of the country.
Smartphones - The technology is so simple that the digital camera in a phone can recognize our face and use it for unlocking the phone and also for unlocking payments app.
The diversified applications and increasing segments where facial recognition is used makes it highly vulnerable too. While understanding its benefits we should also be aware of threats and use it wisely.
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