Facial recognition is one of the most revolutionary technological innovations of today that has shaped many aspects of our lives. This fairly new technology allows the identification and verification of a person by creating a map of their face, and has an increasing use across various industries.
Use of facial recognition is predicted to become even more widespread in the coming years. Watch out for these trends below if you want to have a better understanding of where the technology is headed in the future.
- Enhanced customer experience
One of the widest uses of facial recognition technology across industries is to provide an enhanced, more customized experience to consumers. For instance, banks are working to employ facial recognition so that the teller can immediately be notified of your details simply by you looking at a device. Hotels are also working to provide the same service so that frequent guests or members can have their details and preferences stored in the hotel base just by looking at a facial recognition device.
- Increasing security at airports and other public spaces
More and more countries are expected to adopt facial recognition at airports to increase security. China has already made use of the technology to increase safety in public spaces, while Japan plans to utilize facial recognition for the 2020 Olympic in Tokyo to grant access to authorized personnel. Sydney is also testing out the technology at airports, while the US utilizes biometric technology in a number of airports across the country.
Not only does facial recognition at airports increase security, but fliers will also no longer have to stand in long queues with boarding passes, effectively making their overall experience more seamless.
- Market value to double by 2024
In 2018, the facial recognition market had a value of USD 4.51 billion. This is expected to increase to USD 9.06 billion by 2024. In other words, the market value will likely double in just six years or so. This speaks volumes on just how fast the facial recognition industry is growing, and how widely the technology is used for various purposes.
- Enhanced smartphone experience
Perhaps the one use of facial recognition most of us are familiar with is our smartphones. Today, many phones come equipped with this technology, allowing us to unlock our phones simply by looking at them. Not only does this enhance data security, but it is also extremely convenient.
No doubt; facial recognition will play a major role in the coming years to make our world a more convenient and safe place to live.