Publication Date - January 2020
Rapidly expanding opportunities for face recognition continue to attract new market entrants as existing technology and solution players clamor to establish a market foothold. Dozens of vendors now operate in the digital on-boarding and remote authentication categories which are driving the highest-growth, most desirable, and most crowded biometric market sectors. This includes solutions for financial services where convenience-based “frictionless” experience is energizing global adoption of face recognition for mobile applications.
The majority of companies operating in the face recognition space are “me too“ players trying to position their technology as a UVP (Unique Value Proposition). This is not an effective strategy as, even when it can be proven (which it often cannot), technology performance and capabilities do not constitute sustainable differentiation.
While no company has yet established itself as the leading facial recognition brand, a number of biometric players are well positioned to leverage key differentiable potentialities that would allow them to successfully engage in a market breaking or category creating market maneuver.
Strategic Market Assessment: Face Recognition