India Face Matching And Authentication Software Market Set to Grow at a CAGR of 35.9% until 2024
Growing adoption of facial attendance and
timekeeping coupled with rising demand for cloud-based face matching and
authentication software to propel India face matching and authentication
software market through 2024
According to TechSci Research report, “India
Face Matching And Authentication Software Market By Deployment Type, By
Authentication type, By Verticals, Competition Forecast & Opportunities, 2024’’, India face
matching and authentication software market is projected to grow at a CAGR of
35.9% during 2019-2024, owing to growing demand for cloud based face matching
and authentication software and increasing demand in Banking & financial
sectors. Moreover, increasing use of multimodal biometric adoption along with rising use
of face matching and authentication software in smartphones is further propelling
growth in the market. In addition, Smart City projects and
adoption of facial recognition software in mobile wallet is anticipated to steer
growth in India face matching and authentication software market in the coming
years.
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Face Matching And Authentication Software Market "
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Among
Authentication types, 1:
N authentication type accounts for the largest share in India face matching and
authentication software market. Moreover, the segment is expected to be the
fastest growing authentication type during the forecast period owing to rising
focus of companies towards enhancement of software to increase the accuracy
rate, which reduces the authentication time. NEC Technologies India Private
Limited, Videonetics Technology Private Limited, Matrix Comsec Private Limited,
Gemalto Digital Security Private Limited and AllGoVision Technologies Pvt Ltd are the major companies operating in India face matching
and authentication software market.
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“South region led India face matching
and authentication software market in 2018 and is expected to continue its
dominance throughout the forecast period as well on account of growing
government initiatives in the region. Moreover, the region is the IT hub of
India, which is further contributing to its growth. Moreover, increasing
deployment of facial recognition at airports in cities like Hyderabad and
Bengaluru is further fuelling growth in the region’s face matching and
authentication software market.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“India
Face Matching And Authentication Software Market By Deployment Type, By
Authentication type, By Verticals, Competition Forecast & Opportunities, 2024’” has evaluated the future growth
potential of India face matching and authentication software market and
provides statistics and information on market size, structure and future market
growth. The report offers decision makers superior market intelligence, thereby
enabling them conduct thorough investment appraisal. Besides, the report also analyzes the evolving market inclinations along
with indispensable drivers, challenges and opportunities in India face matching
and authentication software market.
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