Market By Technology, End-user, And Geography | Forecast 2019-2028
According to Triton, the facial recognition market in Latin America is expected to proliferate with a CAGR of 16.24% in the forecast period of 2019-2028.
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The countries reviewed in this market include:
•          Brazil
•          Mexico
•          Rest of Latin America countries
Data management technologies and computing capabilities have majorly evolved over the last ten years. Thus, artificial intelligence (AI) has gained immense prominence in today's world. Be it cashier-less grocery stores or self-driving cars, AI has brought about a major technological revolution. Since the past few years, Brazil has been increasingly investing in the development of AI. The country's government recently announced that it would be working on building a network of eight R&D facilities focusing on AI applications.
Brazil has also adopted facial recognition technology, and it was actively used at the Carnival, the annual national fest. In 2019, the face recognition systems were deployed on the streets on a small scale. However, in 2020, these systems were rolled out at a much larger scale, throughout six capitals across the country. The technology for identifying people by scanning their facial features is used for cataloging the data obtained from millions of people partying on the streets as well as the "sambadromes," the place at which the world-famous parade is held.
Not only that, but this technology is also used to nab wanted criminals. Further, dozens of cameras supporting facial recognition tech have been set across São Paulo, Brazil's largest urban center, which automatically sends the captured images to the police database. These examples indicate the high rate of adoption of facial recognition software and systems in Brazil. This is fueling the growth of the country's market over the forecasting period.
Aware Inc provides biometric software and services. AwareABIS and BioSP, which is a Biometric Services Platform, are some of its well-known solutions. It caters to the government and commercial sectors. In February 2020, the company announced that its solution, 'Knomi,' is in the process of being adopted by several leading banks across Latin America for biometric authentication. Knomi uses facial recognition techniques to identify users logging into their mobile banking app, thereby eliminating the need for passwords and PINs.
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1.   LATIN AMERICA FACIAL RECOGNITION MARKET - SUMMARY       Â
2.   INDUSTRY OUTLOOK
2.1. MARKET DEFINITIONÂ Â Â Â Â
2.2. KEY INSIGHTSÂ Â Â Â Â Â
2.2.1.  FACIAL RECOGNITION APPLICATION IN MOBILE SECURITY AND DRONESÂ
2.2.2.  EMERGENCE OF FACIAL ANALYTICS
2.3. IMPACT OF COVID-19 ON FACIAL RECOGNITIONÂ
2.4. PORTER’S FIVE FORCE ANALYSIS  Â
2.4.1.  THREAT OF NEW ENTRANTS  Â
2.4.2.  THREAT OF SUBSTITUTE          Â
2.4.3.  BARGAINING POWER OF BUYERS    Â
2.4.4.  BARGAINING POWER OF SUPPLIERS
2.4.5.  THREAT OF COMPETITIVE RIVALRY Â
2.5. MARKET ATTRACTIVENESS INDEXÂ Â
2.6. VENDOR SCORECARDÂ
2.7. MARKET DRIVERSÂ Â Â Â Â Â Â Â Â
2.7.1.  NEED FOR SURVEILLANCE SYSTEMS
2.7.2.  INCREASING ADOPTION OF FACIAL RECOGNITION IN CONSUMER ELECTRONICS SECTOR   Â
2.7.3.  TECHNOLOGICAL ADVANCEMENTS IN RECOGNITION SYSTEMS
2.8. MARKET RESTRAINTSÂ Â
2.8.1.  PRIVACY ISSUESÂ
2.8.2.  HIGH ERROR RATES      Â
2.9. MARKET OPPORTUNITIESÂ Â Â Â Â Â Â
2.9.1.  INTEGRATION OF FACIAL BIOMETRICS IN SMART CARDS       Â
2.9.2.  COMMERCIALIZATION OF FACIAL RECOGNITION TECHNOLOGY
2.10. MARKET CHALLENGESÂ Â Â Â Â Â Â Â Â Â
2.10.1. LACK OF ESTABLISHED INTERNATIONAL STANDARDS Â
2.10.2. COMPETITION FROM NON-BIOMETRICS TECHNOLOGIES
2.11. WORKFLOW OF FACIAL RECOGNITION SYSTEMSÂ Â Â Â Â Â Â Â
2.12. ADVANTAGES AND DISADVANTAGES OF FACIAL RECOGNITION SYSTEMSÂ Â Â Â Â Â Â Â
3.   LATIN AMERICA FACIAL RECOGNITION MARKET OUTLOOK – BY TECHNOLOGY        Â
3.1. 3D FACIAL RECOGNITIONÂ Â Â Â Â Â Â Â
3.2. 2D FACIAL RECOGNITIONÂ Â Â Â Â Â Â Â
3.3. FACIAL ANALYTICSÂ Â Â Â Â Â Â Â
4.   LATIN AMERICA FACIAL RECOGNITION MARKET OUTLOOK - BY END-USER   Â
4.1. SECURITY AND LAW ENFORCEMENTÂ Â Â Â Â Â Â Â Â
4.2. HEALTHCAREÂ Â Â Â Â Â
4.3. RETAILÂ Â Â Â Â Â Â
4.4. OTHER END-USERSÂ Â Â Â Â Â
5.   LATIN AMERICA FACIAL RECOGNITION MARKET – REGIONAL OUTLOOK
5.1. BRAZILÂ Â Â Â Â Â Â
5.2. MEXICOÂ Â Â Â Â Â
5.3. REST OF LATIN AMERICAÂ Â Â Â Â Â Â Â
6.   COMPETITIVE LANDSCAPE
6.1. 3M COMPANYÂ Â Â Â Â Â
6.2. COGNITEC SYSTEMS GMBHÂ Â Â
6.3. NEC CORPORATIONÂ Â Â Â Â Â
6.4. FACEFIRST INCÂ Â Â
6.5. NUANCE COMMUNICATIONS INCÂ Â Â Â Â Â
6.6. CROSSMATCH TECHNOLOGIES Â Â Â Â
6.7. ANIMETRICS INCÂ
6.8. DAON INC
6.9. PANASONIC CORPORATIONÂ Â Â
6.10. GEMALTO NV (THALES GROUP)Â Â Â Â Â Â
6.11. AWARE INC
6.12. FACEPHI BIOMETRIC SAÂ Â Â Â Â Â Â Â
6.13. AYONIX CORPORATIONÂ Â Â Â Â Â Â Â Â
6.14. IDEMIA FRANCE SASÂ Â
6.15. ID3 TECHNOLOGIESÂ Â Â Â
7.   METHODOLOGY & SCOPE Â
7.1. RESEARCH SCOPE & DELIVERABLESÂ Â Â Â Â Â Â Â
7.2. SOURCES OF DATAÂ Â Â Â Â Â Â
7.3. RESEARCH METHODOLOGYÂ Â
TABLE 1: LATIN AMERICA FACIAL RECOGNITION MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)
TABLE 2: MARKET ATTRACTIVENESS INDEX
TABLE 3: VENDOR SCORECARD
TABLE 4: LATIN AMERICA FACIAL RECOGNITION MARKET, BY TECHNOLOGY, 2019-2028 (IN $ MILLION)
TABLE 5: LATIN AMERICA FACIAL RECOGNITION MARKET, BY END-USER, 2019-2028 (IN $ MILLION)
TABLE 6: LATIN AMERICA FACIAL RECOGNITION MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)
FIGURE 1: PORTER’S FIVE FORCE ANALYSIS
FIGURE 2: WORKFLOW OF FACIAL RECOGNITION SYSTEMS
FIGURE 3: LATIN AMERICA FACIAL RECOGNITION MARKET, BY 3D FACIAL RECOGNITION, 2019-2028 (IN $ MILLION)
FIGURE 4: LATIN AMERICA FACIAL RECOGNITION MARKET, BY 2D FACIAL RECOGNITION, 2019-2028 (IN $ MILLION)
FIGURE 5: LATIN AMERICA FACIAL RECOGNITION MARKET, BY FACIAL ANALYTICS, 2019-2028 (IN $ MILLION)
FIGURE 6: LATIN AMERICA FACIAL RECOGNITION MARKET, BY SECURITY AND LAW ENFORCEMENT, 2019-2028 (IN $ MILLION)
FIGURE 7: LATIN AMERICA FACIAL RECOGNITION MARKET, BY HEALTHCARE, 2019-2028 (IN $ MILLION)
FIGURE 8: LATIN AMERICA FACIAL RECOGNITION MARKET, BY RETAIL, 2019-2028 (IN $ MILLION)
FIGURE 9: LATIN AMERICA FACIAL RECOGNITION MARKET, BY OTHER END-USERS, 2019-2028 (IN $ MILLION)
FIGURE 10: LATIN AMERICA FACIAL RECOGNITION MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)
FIGURE 11: BRAZIL FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 12: MEXICO FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)
FIGURE 13: REST OF LATIN AMERICA FACIAL RECOGNITION MARKET, 2019-2028 (IN $ MILLION)