DUBLIN–(BUSINESS WIRE)–The “India Face Matching And Authentication Software Market By Deployment Type, By Authentication type, By Verticals (Office Workspace, Banking & Telecom, Construction, Manufacturing & Others), Competition Forecast & Opportunities, 2024” report has been added to ResearchAndMarkets.com’s offering.
The Indian face matching and authentication software market is projected to grow from $ 700.6 million in 2018 to $ 4,336 million by 2024, exhibiting a CAGR of 35.9%.
Growth in the market can be attributed to increasing use of multimodal biometric adoption, the growing demand for cloud based face matching and authentication software and the increasing demand in banking & financial sector. Moreover, rising use of face matching and authentication software in smartphones is further fueling growth in the market.
Among deployment type, cloud deployment dominated the Indian face matching and authentication software market in 2018 and is also expected to be the fastest growing deployment type during the forecast period owing to its various benefits such as reduced IT staffing/administration, increased flexibility and on demand scalability and reduced total cost of ownership.
By Authentication Type, 1: N authentication type dominated the Indian face matching and authentication software Market in 2018 and is also expected to be the fastest growing authentication type during the forecast period owing to the ongoing enhancement of software to increase the accuracy rate, i.e., reduce false acceptance rate (FAR) and false rejection rate (FRR). As a result, the speed of authentication is reduced to an average of 1-5 seconds. Moreover, 1: N also reduces the additional cost of cards or other devices/tokens required in case of 1: 1 authentication type.
Among verticals, office workspaces dominate the Indian face matching and authentication software market as it requires facial recognition for various applications including physical access to workplace, attendance tracking and user provision to corporate networks. Moreover, increasing acceptance of facial recognition for attendance tracking and access control applications is further contributing to the growth of this segment.
By Region, South region garnered the highest market share in 2018 and is expected to continue its dominance throughout the forecast period as well owing to the region being the IT hub of India coupled with the growing government initiatives in the region. NEC Technologies India Private Limited accounts for the largest share in the Indian face matching and authentication software market.
Key players in the Indian face matching and authentication software market are NEC Technologies India Private Limited, Videonetics Technology Private Limited, Matrix Comsec Private Limited, Gemalto Digital Security Private Limited and AllGoVision Technologies Pvt Ltd, among others.
Years considered for this report:
- Historical Years: 2014-2017
- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2020-2024
Objective of the Study:
- To define, segment, describe and forecast the Indian face matching and authentication software market on the basis of deployment type, authentication type, verticals, region and company.
- To analyze and forecast the Indian face matching and authentication software market size.
- To scrutinize the detailed market segmentation and forecast the market size, on the basis of segmenting the Indian face matching and authentication software market verticals into following, namely, office workspace, banking and telecom, construction, manufacturing, real estate commercial, retail outlets, event management, warehouse, entertainment and others.
- To identify the drivers and challenges for the Indian face matching and authentication software market.
- To analyze and forecast the market size for the Indian face matching and authentication software market with respect to deployment type, authentication type, verticals, region and company.
- To strategically profile leading players in the market which are driving the innovation and technological advancements in India face matching and authentication software market.
Key Topics Covered
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
4.1. India face matching and authentication software Respondents, By Parameters Considered while Buying Facial Recognition Solution (N=50)
4.2. India face matching and authentication software Respondents, By Challenge(s) Faced (N=50)
4.3. India face matching and authentication software Respondents, By Satisfaction Level on Existing Facial Recognition Solution based on Following Parameters (N=50), (where 1 is Least Important and 5 is extremely Important)
4.4. India face matching and authentication software Respondents, By currently used Authentication type of facial recognition (N=50)
4.5. India face matching and authentication software Respondents, By currently used Deployment type of facial recognition (N=50)
4.6. India Face Matching and Authentication Software, By Company (N=50)
5. Global Face Matching and Authentication software Market Overview
6. India Face Matching and Authentication Software Market Landscape
7. India Face Matching and Authentication Software Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Deployment Type (On-premise and Cloud)
7.2.2. By Authentication type (1: 1 and 1: N)
7.2.3. By Verticals (Office Workspace, Banking and Telecom, Construction, Manufacturing, Real Estate Commercial, Retail Outlets, Event Management, Warehouse, Entertainment and Others)
7.2.4. By Region (South, West, North and East)
7.2.5. By Company
7.3. Market Mapping
7.3.1. By Deployment Type
7.3.2. By Authentication Type
7.3.3. By Verticals
7.3.4. By Region
8. Market Dynamics
8.1. Drivers
8.2. Challenges
9. Market Trends & Developments
10. Policy & Regulatory Landscape
11. India Economic Profile
12. Competitive Landscape
12.1. Competitive Benchmarking
12.2. Company Profiles
12.2.1. NEC Technologies India Private Limited
12.2.2. Videonetics Technology Private Limited
12.2.3. Matrix Comsec Private Ltd.
12.2.4. Gemalto Digital Security Private Ltd.
12.2.5. AllGoVision Technologies Pvt Ltd.
12.2.6. Mantra Softech (India) Pvt. Ltd.
12.2.7. Prama Hikvision India Pvt Ltd.
12.2.8. IDEMIA – Identity and Security
12.2.9. ESSL Biometric Solutions Private Limited
12.2.10. Herta Security S.L.
For more information about this report visit https://www.researchandmarkets.com/r/10pk2m
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