Facial recognition is biometric software that compares and analyzes patterns based on the subject’s facial characteristics to identify, recognize, and authenticate them uniquely.
According to a recent Mordor Intelligence report, the facial recognition market was worth $3.72 billion in 2020 and is expected to reach $11.62 billion by 2026, with a CAGR of about 21.71 percent during the forecast period (2021 – 2026).
The pandemic has impacted the industry by pushing manufacturers throughout the globe to modify their algorithms in response to the breakout of Covid-19 to accept a new set of adjustments and conventions.
The sector’s significant growth is expected to be aided by government initiatives. China’s officials, for example, have utilized face recognition technology in conjunction with infrared cameras to identify persons who are afflicted with the virus. The United States government intends to improve airport security by using face recognition to register and identify travelers. Several North American Free Trade Agreement (NAFTA) member banks have made mandatory face and voice recognition technology for online identity verification.
Biometric solutions are one of the most secure authentication solutions because of their capability to incorporate the physical and behavioral features of the end-users, which are difficult to forge.
a market research report by Technavio
Despite the presence of significant competitors in the market, the competitive landscape in the facial recognition market is moderately fragmented and is expected to become even more rival due to the increasing number of startups.
Artificial intelligence, machine learning (especially deep learning), and machine vision technologies that enable matching images from cameras with pictures in databases and complex facial recognition systems are expected to be the top trends this year. By integrating face recognition with other biometrics forms and applications ranging from detecting persons wearing protective equipment to temperature sensing, facial recognition technologies are rapidly being employed in digital healthcare and disease outbreak prevention. Social media platforms have also used face recognition technology for digital marketing. Juniper Research suggests the fastest-growing form of smartphone biometric hardware will be facial recognition hardware, such as Face ID on recent iPhones.
Transmit Security has offices in Boston and Tel Aviv. The company recently raised $543M Series A to make passwords obsolete.
TransmitSecurity.com is the domain name this startup has chosen to operate on. It perfectly matches their brand name, and the .com extension is what visitors intuitively lean towards when typing a web address.
Smile Identity builts encryption, authentication, and security solutions. So far, the company has raised close to $12 million to make it easier for Africans to prove their identity online.
Smile Identity operates on the exact brand match domain SmileIdentity.com. This ensures their brand is well protected online, avoids traffic and email leaks, and confusion amongst their customers and business partners.
Vu Security is an Argentine startup that uses a combination of geolocation, biometrics, and behavior analysis to help governments verify people online.
Vu Security operates on VuSecurity.com. Investing in a .com domain name that matches their brand name ensures their brand is secure online and makes it easy for their customers, business partners, and investors to reach them.
Verihubs is a Y Combinator startup located in Indonesia. The company raised a $3 million seed round to help businesses verify the identities of online buyers via selfie authentication.
Verihubs has invested in the exact brand match Verihubs.com thus making the most out of their marketing across channels and avoiding security risks.
A digital identification platform, Yoti, allows users to prove their identities straightforwardly and safely, both online and in person. The company was founded by Robin Tombs, Duncan Francis, and Noel Hayden in 2014 in London, UK.
Yoti has secured the short and memorable, four-letter exact brand match domain name for their brand – Yoti.Com. In the domaining industry, 4-letter domains are referred to as LLLL.COM or 4L. All the 4-letter combination domains are registered, with the most valuable beeing the CVCV domains.
93 companies are using the .COM extension. The.com domain name extension is used by more than half of all websites on the internet, thus making it the most natural choice for users to type in when it comes to domain names.
78 biometrics and facial recognition companies operate on exact brand match domains. The majority of successful global brands operate on similar names that communicate trust and authority.
The popular among tech startups .AI and .IO extensions are the preferred choice of 9 and 5 of the companies in the list.