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The facial recognition market is expected to grow to more than $2 Bn by 2020. While that’s a small figure compared to that of the analytics market which is expected to grow to a whopping $200+ Bn around the same time, the demand for face analytics continues to grow in-line with the expectations and, therefore, the application of big data and analytics in many spheres of our lives.
Facebook, Google, Amazon, Microsoft, and a host of other technology majors, have acquired continue to be on the look-out for start-ups and companies delving deep in the area of facial recognition. This is a testimony to not only the growing demand of facial recognition tools but also the power it can equip organizations with to do so many wonderful things that weren’t even imagined earlier, much less possible. One of the many premises being how companies and organizations understood people (customers, prospects, visitors, strangers, patrons, commoners, suspects, etc.) beyond online footprints and such other touch-points.
Admittedly, facial recognition software has been in use for quite some time now. However, that was limited use by a select few such as the state and federal investigating agencies, security organizations and, perhaps, a handful of businesses, where …
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