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Facial Recognition

Facial recognition delivers incredible convenience to consumers, as well as serious risks.

Overview

Biometrics-based technology expands from security into the commercial sector

Facial recognition technologies are software-based applications that use facial biometrics (e.g., the distance between the eyes, nose width, cheekbone shape) to identify individuals. Facial recognition software gathers these unique metrics from photographs and recorded or live video—converted to digital data—to compare them against a database of facial images to find a match with identical biometrics. 

Facial recognition technology has been used in the US in criminal law enforcement and border control as a surveillance tool since the 1990s. Now, it is actively expanding into the commercial sector for use in banks, retail stores, airlines, and restaurants, among other areas.

What's driving this industry?
Market Sizing

US facial recognition obtained market value could reach USD 1.0-1.9 billion by 2025

Conservative case

USD 1.0 Bn

20% penetration
Base case

USD 1.3 Bn

27% penetration
Expansion case

USD 1.9 Bn

40% penetration
USD million05001,0001,5002,000202020212022202320242025
View details

COVID-19 IMPACT

  • Facial recognition has potential to help enforce quarantine and social distancing rules

  • Demand for contactless biometric verification has spiked 

  • The commercial adoption by retail, hospitality, and airline industries may slow down, given that these sectors have been hit badly by Covid-19 

  • Facial recognition vendors have faced an added challenge to meet demand for verification on masked faces

View detail

Market Mapping


Incumbents in the field develop in-house technology for their own use to enhance their product offering, for example, Facebook and Google using facial recognition technology for automatic photo tagging in their tech platforms. Among the incumbents, Amazon and IBM also provide services to external customers.

Amazon and several disruptors have partnered with government agencies to provide facial recognition technology. The majority of the disruptors either 1) offer a ready-to-use facial recognition software/product, targeting the business-to-consumer (B2C) market or 2) offer the software targeting both B2C and business-to-business (B2B) markets through application programming interfaces (APIs) and software development kits (SDKs) that can be used by other developers to build facial recognition products.

Incumbents
Growth
Early
Seed
Pre-Seed
Law Enforcement
?
Video Surveillance
?
Access Control and Verification
?
Customer Analytics
?
Payment Gateway
?
Photo Tagging
?
Riddletag.com
Riddletag.com
Riddletag.com
Riddletag.com
Riddletag.com
Riddletag.com
Amazon
AnyVision
Clearview AI
Digital Barriers
Cognitec
Corsight AI
StereoVision Imaging
Camvi Technologies
Animetrics
Rank One Computing
IBM
Evolv Technology
Invixium
Acuant
CyberLink Corp
Paravision
Digital Barriers
Cognitec
Faceter
FaceFirst
Kogniz
Corsight AI
Trueface
Cyberextruder
StereoVision Imaging
Reconess
Camvi Technologies
Animetrics
Rank One Computing
Innovatrics
Kipod
Okaya
Raven
Apple
Idemia
CyberLink Corp
AnyVision
Incode Technologies
Onfido
iLobby
Clarifai
AuthID
Paravision
Alcatraz
FaceTec, Inc.
Digital Barriers
Sensible Vision Inc.
Chooch AI
FaceFirst
FacePhi
PopID
Kairos AR
alwaysAI
ID-Pal
VisionLabs B.V.
Corsight AI
Trueface
Zenus, Inc.
Fortress Identity
Amaryllo Inc.
Cyberextruder
Inferdo
Reconess
Camvi Technologies
Timesly
Luxand
Animetrics
Rank One Computing
Innovatrics
Daon
Oloid
SmartBeings
Facenote
Saffe
GetID
Raven
Visitly
PixLab
Riddletag.com
CyberLink Corp
Incode Technologies
Clarifai
AiCure
Cognitec
Cynny
Kairos AR
VisionLabs B.V.
Trueface
Cyberextruder
Sightcorp
Reconess
Rank One Computing
Facenote
Finiite
Incode Technologies
Clarifai
Sensible Vision Inc.
Chooch AI
PopID
VisionLabs B.V.
Fortress Identity
Facenote
Saffe
Riddletag.com
Google
Facebook
Polarr
Waldo Photos
Reminis

The Disruptors


Disruptors offer a variety of products targeting multiple industries

Disruptors in the facial recognition market focus mainly on offering products for access control, video surveillance, customer analytics, and payment gateways. Major industries using the technology apart from law enforcement and border control are retail, hospitality, gambling (casinos), and banking. Most software on offer can be used with existing camera and access control infrastructure.

Law Enforcement

?

Disruptors

?
Funding in USD Millions
AnyVision
352
Clearview AI
39
Corsight AI
5
Digital Barriers
Unknown
Camvi Technologies
Unknown
Animetrics
Unknown
Rank One Computing
Unknown
Cognitec
Unknown
Watchlist
?
StereoVision Imaging

Video Surveillance

?

Disruptors

?
Funding in USD Millions
Paravision
52
Faceter
29
FaceFirst
22
Corsight AI
5
Trueface
5
Digital Barriers
Unknown
Camvi Technologies
Unknown
Animetrics
Unknown
Rank One Computing
Unknown
Cognitec
Unknown
Okaya
Unknown
Raven
Unknown
Innovatrics
Unknown
Kipod
Unknown
Watchlist
?
Kogniz
Cyberextruder
StereoVision Imaging
Reconess

Access Control and Verification

?

Disruptors

?
Funding in USD Millions
AuthID
Public - Market cap USD 24.7 mn
AnyVision
352
Incode Technologies
257
Onfido
182
iLobby
100
Clarifai
100
Paravision
52
Alcatraz
45
FaceFirst
22
PopID
15
Kairos AR
11
ID-Pal
8
Corsight AI
5
Trueface
5
FaceTec, Inc.
4
Zenus, Inc.
3
Fortress Identity
3
Amaryllo Inc.
3
Digital Barriers
Unknown
Camvi Technologies
Unknown
Animetrics
Unknown
Rank One Computing
Unknown
Raven
Unknown
Innovatrics
Unknown
Sensible Vision Inc.
Unknown
Watchlist
?
Oloid
Chooch AI
FacePhi
alwaysAI
VisionLabs B.V.
SmartBeings
Facenote
Cyberextruder
Saffe
Riddletag.com
Reconess
GetID
Inferdo
Timesly
Luxand
Visitly
PixLab
Daon

Customer Analytics

?

Disruptors

?
Funding in USD Millions
Incode Technologies
257
Clarifai
100
AiCure
53
Cynny
14
Kairos AR
11
Trueface
5
Rank One Computing
Unknown
Cognitec
Unknown
Watchlist
?
VisionLabs B.V.
Facenote
Cyberextruder
Finiite
Reconess
Sightcorp

Payment Gateway

?

Disruptors

?
Funding in USD Millions
Incode Technologies
257
Clarifai
100
PopID
15
Fortress Identity
3
Sensible Vision Inc.
Unknown
Watchlist
?
Chooch AI
VisionLabs B.V.
Facenote
Saffe
Riddletag.com

Photo Tagging

?

Disruptors

?
Funding in USD Millions
Waldo Photos
9
Watchlist
?
Polarr
Reminis

AnyVision

Oosto (formerly known as AnyVision) provides a facial recognition-based platform named “Access Point AI” with touchless access control, video surveillance, occupancy analytics, people counting, and flagging dangerous behavior. The Israeli platform claims to be capable of spoof detection and liveness verification as well as integration with other cameras. The company has formed strategic partnerships with related technology providers such as Honeywell, Schneider Electric, Boon Edam, Ambarella, and Nvidia as well as several regional system integrations to grow its market reach. In October 2021, Oosto also partnered with Carnegie Mellon University’s (CMU) CyLab Biometric Research Center to focus on research and development in object, body, and behavior recognition, for commercial use. The company serves organizations across financial services, education, entertainment, healthcare, manufacturing, and distribution. In November 2021, the company introduced several new features to improve restricted zone alerting, recognition of masked individuals and forensics capabilities.

In March 2020, Microsoft, which invested in the company in June 2019, divested its stake due to ethical concerns over facial recognition technology. The company experienced reduced sales in 2020 owing to the Covid-19 pandemic which resulted in laying off around 50% of its staff along with cuts to research spending.

In July 2021, Oosto raised USD 235 million, bringing the company’s total funding to USD 352 million. The round was co-led by SoftBank’s Vision Fund 2 and Eldridge Industries with participation from existing investors including Robert Bosch GmbH, Qualcomm Ventures, and Lightspeed. The company expects to use the funding to improve its platform, accelerate the integration of its technology to edge computing devices such as smart cameras, bodycams, and chips, and expand into new markets.

Segment:
Law Enforcement
Total funding:
USD 352.0 million
Competitors:
Paravision
Disruptor Funding History

Law Enforcement:

AnyVision
Clearview AI
Corsight AI
StereoVision Imaging

Video Surveillance:

Paravision
Faceter
FaceFirst
Corsight AI
Trueface
Kogniz
Cyberextruder
StereoVision Imaging

Access Control and Verification:

AuthID
AnyVision
Incode Technologies
Onfido
iLobby
Clarifai
Paravision
Alcatraz
FaceFirst
PopID
Kairos AR
ID-Pal
Corsight AI
Trueface
FaceTec, Inc.
Zenus, Inc.
Fortress Identity
Amaryllo Inc.
Oloid
Chooch AI
FacePhi
alwaysAI
VisionLabs B.V.
SmartBeings
Facenote
Cyberextruder
Saffe
Riddletag.com

Competitive Analysis


Filter by a segment or companies of your choice
Law Enforcement

Incumbents


Incumbents enhance product offerings through in-house developments

Most incumbents use technology developed in-house for use in their own products. For example, Facebook and Google use facial recognition technology for automatic photo tagging. They have also acquired startups with complementary technology to strengthen their offering. Other incumbents, such as Amazon, Evolv Technologies, and Acuant, compete with startups in the market. For example, Amazon competes with startups via Amazon Rekognition, which has been used by US law enforcement until recently. Acuant also competes with many startups providing identity verification solutions.

Law Enforcement
Video Surveillance
Access Control and Verification
Customer Analytics
Payment Gateway
Photo Tagging
In House Development
M&A
Partnership
Investment
Apple
Google
Amazon
Facebook
IBM
Evolv Technology
Invixium
Acuant
Idemia
CyberLink Corp

Notable Investors


No investor data is available

Funding data are powered by Crunchbase
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