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Facial Recognition Market | Increasing Instances of Identity Theft to Boost the Market Growth | Technavio

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The global facial recognition market size is poised to grow by USD 3.35 billion during 2020-2024, progressing at a CAGR of almost 12% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

The facial recognition market research analysis identifies the increasing instances of identity threats as one of the primary growth factors for this market. The increasing dependence of end-users on websites and web applications is giving rise to an increasing number of identity and data theft cases. Also, the increasing complexity of these attacks is driving end-users to implement secure authentication solutions. As a result, the adoption of biometric security solutions is growing as they have the capability to incorporate the physical and behavioral features of end-users for identity verification. This ability makes forging difficult and designates facial recognition as one of the most secure authentication solutions.

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Report Highlights:

  • The major facial recognition market growth came from 3D facial recognition segment. The 3D facial recognition segment will grow significantly during the forecast period because of its high accuracy, leading to its high adoption, especially in the government sector.
  • APAC will offer several growth opportunities to market vendors during the forecast period. The growing adoption of facial recognition systems because of the increasing public threats and high vendor penetration will significantly drive facial recognition market growth in this region over the forecast period.
  • The global facial recognition market is fragmented. ASSA ABLOY AB, Aware Inc., Cognitec Systems GmbH, Egis Technology Inc., IDEMIA France SAS, NEC Corp., Precise Biometrics AB, Safran SA, Synaptics Inc., and Thales Group. are some of the major market participants. To help clients improve their market position, this facial recognition market forecast report provides a detailed analysis of the market leaders.
  • As the business impact of COVID-19 spreads, the global facial recognition market 2020-2024 is expected to have Neutral and At par growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Increase in the Emergence of Facial Analytics will be a Key Market Trend

The increase in the emergence of facial analytics is one of the latest facial recognition market trends that will gain traction in the coming years. Vendors are investing heavily in the R&D of facial analytics due to the increasing instances of violent activities in the past. Facial analytics enhances facial recognition by recognizing an individual’s facial attributes such as a scar, long nose, or facial expression and can estimate an individual’s age along with his/her gender. These factors will positively impact the market.

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Facial Recognition Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist facial recognition market growth during the next five years
  • Estimation of the facial recognition market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the facial recognition market
  • Analysis of the markets competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of facial recognition market vendors

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View market snapshot before purchasing

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019-2024

Five Forces Analysis

  • Five Forces Summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Identification – Market size and forecast 2019-2024
  • Verification – Market size and forecast 2019-2024
  • Market opportunity by Application

Market Segmentation by Technology

  • Market segments
  • Comparison by Technology
  • 3D facial recognition – Market size and forecast 2019-2024
  • 2D facial recognition – Market size and forecast 2019-2024
  • Market opportunity by Technology

Market Segmentation by End-user

  • Market segments
  • Comparison by End-user
  • Government sector – Market size and forecast 2019-2024
  • BFSI sector – Market size and forecast 2019-2024
  • Transportation sector – Market size and forecast 2019-2024
  • Other sectors – Market size and forecast 2019-2024
  • Market opportunity by End-user

Customer Landscape

  • Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America – Market size and forecast 2019-2024
  • Europe – Market size and forecast 2019-2024
  • APAC – Market size and forecast 2019-2024
  • MEA – Market size and forecast 2019-2024
  • South America – Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Competitive scenario
  • Vendor Landscape
  • Landscape disruption
  • Industry risks

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • ASSA ABLOY AB
  • Aware Inc.
  • Cognitec Systems GmbH
  • Egis Technology Inc.
  • IDEMIA France SAS
  • NEC Corp.
  • Precise Biometrics AB
  • Safran SA
  • Synaptics Inc.
  • Thales Group

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavios report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavios comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: [email protected]

Website: www.technavio.com/

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Manuela Baroncini joins Swiss Re Corporate Solutions as Global Head Engineering & Construction

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ZURICH, Nov. 27, 2020 /PRNewswire/ — Swiss Re Corporate Solutions appoints Manuela Baroncini as Global Head Engineering & Construction (E&C), effective 1 March 2021. In this role, Ms. Baroncini will be responsible for driving the success of the E&C portfolio, maintaining a profitable book of business and leading a global team of underwriting experts. Based in London and reporting to Martin Hegelbach, Head Property & Specialty, Ms. Baroncini succeeds Guido Benz, who will join Aon at the end of December after 13 years with Swiss Re.

Construction site (PRNewsFoto/Swiss Re Corporate Solutions)

“It is great to welcome someone of Manuela's calibre and technical expertise back to Corporate Solutions. She is a highly energetic, experienced industry leader who understands the needs of our customers. She is also highly engaged with the broking community and truly understands the market,” said Mr. Hegelbach. “Over the past several years, Manuela has amassed a wealth of knowledge and experience by profitably managing large portfolios of business. I look forward to working with her as she leads our next phase of development in this key sector.”

Mr. Hegelbach continued, “We wish Guido great success in his new role. He has been instrumental in building up our E&C book of business and expanding our product offering. We are sad to see him leave but look forward to continuing the relationship as he will remain active in the insurance market.”

Ms. Baroncini brings almost 20 years of construction insurance experience to this role, most recently as Head of Construction UK for a large commercial insurer. In this role, she was responsible for providing construction risk transfer solutions for domestic and multinational risks to help make customers in the UK and around the globe more resilient. She previously worked for Swiss Re Corporate Solutions between 2002 and 2015 in roles of increasing seniority within the E&C team.

Ms. Baroncini holds a Fellowship Post Degree in Material Science from the University of Cambridge and a Master of Science in Mechanical Engineering from the University of Rome Tor Vergata. She is an executive member at the London Engineering Group and a Chartered member of the Italian Institution of Engineers.

The Swiss Re Corporate Solutions E&C team insures a wide range of risks across different sectors including renewable energy, construction, infrastructure, power and utilities, heavy industries and mining.

About Swiss Re Corporate Solutions
Swiss Re Corporate Solutions provides risk transfer solutions to large and mid-sized corporations around the world. Its innovative, highly customised products and standard insurance covers help to make businesses more resilient, while its industry-leading claims service provides additional peace of mind. Swiss Re Corporate Solutions serves clients from offices worldwide and is backed by the financial strength of the Swiss Re Group. Visit corporatesolutions.swissre.com or follow us on linkedin.com/company/swiss-re-corporate-solutions and Twitter @SwissRe_CS.

Logo – https://mma.prnewswire.com/media/1343441/Swiss_Re_Corporate_Solutions_Construction_site.jpg  

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Ultimaker appoints Jürgen von Hollen as Chief Executive Officer

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Jos Burger advances to Supervisory Board

UTRECHT, Netherlands, Nov. 27, 2020 /PRNewswire/ — Ultimaker, the global leader in professional 3D printing, appointed Jürgen von Hollen as Chief Executive Officer, replacing Jos Burger, who will retire and join the Supervisory Board. This change will be effective on January 1, 2021.

Jos Burger joined Ultimaker in 2014 and transformed the company from a start-up to a global player in the 3D printing industry. According to the most recent findings from the UK market intelligence firm CONTEXT, in the first half of 2020, strong demand from work-from-home scenarios allowed for Ultimaker to ascend to the top two position in global 3D Printer hardware shipment revenues. Ultimaker leads the Professional Price Class printer segment in the first half of 2020 with a 40% market share of hardware revenues.

“I'm tremendously proud of everything we achieved at Ultimaker in a short period of time. The transformation from a start-up to a company that now shapes how companies produce and manufacture is phenomenal,” said Jos Burger, outgoing CEO, Ultimaker. “The last seven years have been intense, and given my age, it's now time to retire from the CEO role. All the building blocks that will sustain future growth are there, and now it's the best moment to hand over to Jürgen. Ultimaker continues to have a unique space in my heart, and I'm thrilled with the opportunity to serve on the Supervisory Board.”

Jürgen von Hollen brings extensive international experience and a wealth of leadership in fast-growth technology industries. Prior to Ultimaker, Jürgen was President and CEO at Universal Robots, where he successfully grew the company and established it as the global market leader in collaborative robotics. Jürgen has held leadership positions at Bilfinger SE, Daimler-Chrysler Services, T-Systems, and Pentair.

“I am very excited to be joining the Ultimaker team, who has developed a leading product, strong business model and has a very talented team,” said Jürgen von Hollen, incoming CEO, Ultimaker. “I believe this uniquely positions Ultimaker to take full advantage of a USD 35 billion 3D printing market and outgrow this market, which itself is expected to grow at 20% per annum. Ultimaker has the ability to enable dynamic innovation, flexible manufacturing and delivers great productivity improvements. Together, we want to transform organizations and Ultimaker is in a great position to grow as the leader.”

Bart Markus, Chairman of the Supervisory Board, adds: “Jos is leaving a great legacy behind, and now it is the right time to take advantage of what Jos has built and accelerate the company further. We are excited to have Jürgen as our new leader, and he is perfectly suited to take Ultimaker to new heights.”

About Ultimaker

Since 2011, Ultimaker has built an open and easy-to-use solution of 3D printers, software, and materials that enable professional designers and engineers to transform the way they manufacture. Over 400 employees work together to accelerate the world's transition to digital manufacturing.  

Photo – https://mma.prnewswire.com/media/1343404/Ultimaker_Jurgen_von_Hollen.jpg

 

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EQT Infrastructure and Proximus form partnership to bring fiber to 1.5 million households in the Flemish Region of Belgium

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  • EQT Infrastructure and Proximus sign joint venture agreement to build a fiber-to-the-home network for at least 1.5 million households and businesses in the Flemish Region of Belgium                 
  • EQT Infrastructure and Proximus are committed to invest significantly into the increased digitalization of the Belgian society                 
  • The JV will benefit from EQT Infrastructure's vast fiber roll-out experience and Proximus' unrivalled expertise in the Belgian telecom market, and together the parties aim at realizing a substantial increase of the fiber coverage in Flanders

STOCKHOLM, Nov. 27, 2020 /PRNewswire/ — The EQT Infrastructure V fund (“EQT Infrastructure”) and Proximus, Belgium's largest telecom operator, are pleased to announce the signing of a partnership agreement. As part of this agreement, the two parties will form a new joint venture (JV) that will design, build and maintain a fiber-to-the-home (FTTH) network in Flanders. EQT Infrastructure will initially own 50.1 percent of the JV and Proximus will hold 49.9 percent.

EQT Infrastructure and Proximus have identified large opportunities in accelerating the build-out pace of the FTTH network in the Flemish Region of Belgium. FTTH is the fastest and most reliable broadband solution available and is instrumental in managing the increasingly growing internet bandwidth demands of the future. EQT and Proximus are committed to invest significantly into the JV over the coming years with the ambition to bring the required fiber connectivity to Flanders so that its residents and businesses can actively participate in the Gigabit Society.

The JV will benefit from the combination of EQT Infrastructure's vast experience from developing strong fiber companies in Europe and North America, and Proximus' unrivalled expertise in the Belgian telecom market and long-standing relationships with municipalities and housing associations. Together, the parties will create an efficient rollout machine to build a fiber network, which will be open and accessible to all operators. The JV intends to connect its first customers during 2021 and the overall goal is to bring fiber connectivity to at least 1.5 million households and businesses over the coming years. The JV will be supported by a strong board of directors with hands-on experience from fiber deployment in Belgium and other European markets.

Matthias Fackler, Partner at EQT Partners, said: “We are very happy to have found a strong partner in Proximus for this exciting fiber rollout opportunity in Belgium. As the leading investor in digital infrastructure, EQT sees the growing need for future-proof and reliable broadband access all over the European continent. Through this partnership, we look forward to facilitating digital inclusion and sustainable economic growth in Flanders and the Belgian society as a whole.”

Guillaume Boutin, CEO of Proximus, said: “I am very pleased that we have signed this final agreement with EQT Infrastructure. This will enable us to reinforce our leading position in multi-gigabit infrastructures, in an era where reliable, next-generation fixed and mobile connectivity has become more important than ever. It also illustrates our positive attitude towards cooperation and co-investment, which will be an important trigger to guarantee a faster, broader and more cost-efficient roll-out. I'd like to congratulate the teams involved on both sides, as this agreement marks another major step forward to build the most future-proof and open network for Belgium and bring high-speed connectivity solutions to every citizen”.

The closing of the transaction is expected in Q1 2021, subject to customary regulatory approvals.

With this transaction, EQT Infrastructure V is expected to be 15-20 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on its target fund size, and subject to customary regulatory approvals.

Contact:
Matthias Fackler
Partner at EQT Partners and Investment Advisor to EQT Infrastructure
+49 89 25 54 99 0

EQT Press Office, [email protected], +46 8 506 55 334

About EQT

EQT is a purpose-driven global investment organization with more than EUR 75 billion in raised capital and over EUR 46 billion in assets under management across 16 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com

Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About Proximus

Proximus Group (Euronext Brussels: PROX) is a provider of digital services and communication solutions operating in the Belgian and international markets. Delivering communication and entertainment experiences for residential consumers and enabling digital transformation for enterprises, we open up a world of digital opportunities so people live better and work smarter. Thanks to advanced interconnected fixed and mobile networks, Proximus provides access anywhere and anytime to digital services and data, as well as to a broad offering of multimedia content. Proximus is a pioneer in ICT innovation, with integrated solutions based on IoT, Data analytics, cloud and security.

With 12,931 employees, all engaged to offer customers a superior experience, the Group realized an underlying Group revenue of EUR 5,686 million end-2019.

More info: www.proximus.com and www.proximus.be

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/eqt/r/eqt-infrastructure-and-proximus-form-partnership-to-bring-fiber-to-1-5-million-households-in-the-fle,c3244704

The following files are available for download:

https://mb.cision.com/Main/87/3244704/1340732.pdf

Press release EQT Infrastructure V Proximus JV 201127

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Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
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