Monday, December 1, 2014

Predictions are hard - how fast will the facial recognition market grow?

Perhaps you're under the impression that by reading free news sources such as the Empoprise-BI business blog, you can get all of the information that you need.

But to get quality information, you have to pay money - sometimes thousands of dollars.

Take the whole business of industry analyses. There are a number of firms that provide information, analysis, and future predictions for various vertical industries. For example, I am employed in the biometrics industry, and there are firms that examine that industry and try to predict where it is headed.

One of these firms, Research and Markets, has announced the availability of a new study on the facial recognition industry.

The global facial recognition market was valued at USD 1.17 billion in 2013 and is expected to grow at a CAGR of 9.5% from 2014 to 2020. Currently, the market is primarily driven by robust technological advancements for development of efficient surveillance systems required by civil and government agencies.

At the same time, another firm, TechNavio, has announced its own study.

TechNavio's analysts forecast the Global Facial Recognition market to grow at a CAGR of 25.7 percent over the period 2014-2019.

They can't both be right - unless the industry suffers a MASSIVE collapse between 2019 and 2020.

Incidentally, if you're interested in facial recognition and the artistic world, keep an eye on my tymshft time blog. You may see something of interest there in the future.
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