Global Outlook: The facial recognition market was estimated to be valued at USD 5.07 billion in 2019 and is expected to reach a value of USD 10.19 billion by 2025, at a CAGR of 12.5%, for the forecast period (2020-2025). This technology has been gaining prominence due to the benefits it offers over traditional surveillance techniques like biometrics. Governments are investing significant resources in facial recognition technology and helping top facial recognition company for the better Artificial intelligent solutions. Further, United States and China are leading in terms of investment and adoption of this technology.
Governments’ proactive policies are leading to the double-digit growth of such technologies. In future, the US government has plans to revamp airport security by using facial recognition for registration and identification of the visitors. Additionally, the rise of cyber-attacks and attacks on democratic election process in advanced economies has necessitated the demand for multi-factor authentication like fingerprint sensors and facial recognition technology. The facial recognition will bring transformative impact the way security in future will be managed.
How Facial Recognition Works?
Facial recognition is a technology capable of identifying a person from a digital image or a video frame from a video source. Face recognition has proved to be one of the best biometrics as images can be taken without interacting with the individual being identified, and those images are recorded and checked against existing databases on real time basis.
A key component of how facial recognition system works is via the use of a standard video camera positioned a couple of feet away from the user to capture images of the face. The system extracts feature from the images by focusing on aspects that are not changing over time like the geometry of the eyes and nose and avoiding superficial features like facial hair. This technique is highly acceptable as photos are already a well-established approach to security. Face recognition system’s matching capability is the world’s fastest and most accurate across all benchmarks and challenging conditions. It combines recognition with real-time identification, verification and situation analysis for quick decision-making, preemptive security, and smoother services. It further enables identification from a large set of databases, which is humanly impossible otherwise. The big data analysis has further sharpened the usage of facial recognition in the security related analytics.
What is Facial Recognition Used For?
Biometric facial recognition technology is used worldwide for fighting crime, preventing fraud, securing public safety, and improving customer experience across a vast range of locations and industries. Border controls, airlines, airports, transport hubs, stadiums, mega events, concerts, conferences are some of the areas where facial recognition is used. Biometric facial recognition technology is playing a growing role not only in the real-time policing and securing of increasingly crowded and varied venues worldwide, but also in ensuring a smooth, enjoyable experience for the people who visit them. Face surveillance, search, identification and verification functions can be easily integrated to surveillance systems to enable real time face recognition, which matches faces against an existing database or watchlist and produces real-time alerts to help reduce public safety risks. With the ability to process and analyze multiple camera feeds and thousands of faces per minute, powerful face recognition is able to police the largest and most difficult security challenges with unparalleled efficiency, sensitivity, and perception.
One of the still unexplored but emerging area for facial recognition is for immigration. This has huge potential to secure borders as well as smoothen the process of entry in country through facial biometric, thereby promoting tourism. Additionally, visa on arrival processes could be made truly efficient and hassle free at the airport through real time face recognition. Facial recognition will change the way we will travel in future and will disrupt the immigration and visa process around the world. It will also enhance the exiting business processes of Visa Facilitation Services Global (VFS) and enable new business models, adding value to entire chain value and enhancing productivity manifold.
Automatic face recognition (AFR) technologies have made many improvements in the changing world. Smart Attendance using face recognition based attendance system is a real-world solution which plays into day to day activities of handling attendance system. It can have usage in the school attendance system where teachers are taking manual attendance in the school. Face recognition based attendance system has huge implications for corporates, schools and other offices where it can used for security, productivity and attendance monitoring purposes via the help of facial biometric.
How Good Is Facial Recognition?
AI facial recognition is only as smart as the dataset used to train it. While technology is reported to be accurate 99% of the time when the face in the image is a white man, this accuracy reduces to 65% in the case of darker skinned women. One widely used facial recognition software was found to have been trained with 75% male and 80% white faces. With the inherent biases in training the algorithm, it poses an important question about its usage in our society. How good is facial recognition is dependent on the variety of faces that are used to train its algorithm.
Best Facial Recognition Software:
The following are the best facial Recognition software, which have emerged over the years:
- Deep Vision AI
- Amazon Rekognition.
Best Facial Recognition Companies:
The following are the best facial recognition companies:
- Global Vox: Global Vox is the best technology consulting service provider and offers innovative IT managed services portfolio that promotes accelerated growth and innovation. Global Vox leverages technology solutions and IT consulting services to meet the changing needs of businesses and help make their clients more secure, agile and flexible.
Facial Recognition Algorithms –
The following are some of the most prevalent facial recognition algorithms:
#1 Kernel Methods
Kernel is weighing factor between two sequences of data, and it allocates either more weight on a data point at one time point or assigns them equal weight. To put it simply, Kernel outputs a similarity score between objects. There are different Kernel methods that use different approaches to output this weighing factor. For instance, a linear Kernel uses dot product to find the similarity in the length of the projection of one vector of an object to another. Another example is of Gaussian Kernel, which uses angle between two vectors to compute the similarity.
#2 Elastic Bunch Graph Matching (EBGM)
The algorithm localizes on a set of landmark features and then measures similarity between these features. The image of the object is illustrated as a set of local facial features in labeled graphs. A bunch of graphs of the same structure is derived from these graphs with nodes representing the local features (like variants in the nose) and edges replicating the distance between the nodes (like distance between nose and left eye). These graphs are compared by simple similarity functions.
#3 Linear Discriminant Analysis –
Images are stored by large pixel values. Linear discriminant analysis cleans up the images of faces and reduces the number of features to a more manageable number. A template is formed by each dimension of the face, which is represented as a linear combination of pixel values.
#4 3D Morphable Model –
The algorithm allows for mapping between a low dimensional space to a 3D shape and texture. Currently, in entertainment industry this model is being used to construct 3D images from paintings. Its utilization is being explored in other industries.
Some of the other facial recognition algorithms include:
- Principal Component Analysis
- Independent Component Analysis
- Evolutionary Pursuit
- Active Appearance Model
- Bayesian Framework
Emerging Company from a Developing Country:
Global Vox is putting resources in area of Facial recognition as a futuristic solution. A client can choose from a myriad of solutions that Global Vox has to offer for an interaction-free experience of collecting and using facial recognition for emerging needs. This emerging company is also offering solutions for computer to understand the uncertainty and the emotions of the user and related sophisticated solutions.
The Benefits of Facial Recognition:
The benefits of facial recognition are as follows:
#1 Security multiplier:
Facial recognition offers robust and fool proof solutions to individual as well as to corporations and governments. With the help of facial recognition, it will be easier to track down any thieves, or other trespassers. On the governmental level, facial recognition can help identify terrorists or any other criminals with the help of the scanning faces in a crowded place. Since there are no password like features, hacking this technology will not be very easy. Further, with rising concern of privacy, facial recognition can be used as a security tool for securing personal devices. It has global usage from individuals to country level with certainty in detection and surety in results.
#2 Super speed processing:
The process of recognition takes a second or less, and it is beneficial for the companies where time is critical factor for security and theft. In the event of cyber-attacks and advanced hacking tools, companies ask for a technology that is both secure and fast. Facial recognition is almost instantaneous and provide a quick and efficient verification. It is not very easy to deceive this technology since it has been very highly researched and thoroughly tested by companies that produce them.
#3 Automation and Seamless integration:
The facial recognition technology can be easily integrated. It does not require spending additional expenditure on its integration and is compatible with the majority of security software. Technology can be automated and will replace the manual intervention for identification with enhanced accuracy.
Looking into the world, which in spite of the best technological advancement has become more insecure, facial recognition offers a ray of hope for enhancing the sense of security. The rising investment and double-digit growth with a potential of over $10 billion markets by 2025 indicate the market opportunity as well as the potential for this technology.