Driver Facial Analytics Market Size Forecast to Reach $7.9 Billion by 2026
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  • Driver Facial Analytics Market Size Forecast to Reach $7.9 Billion by 2026

    (Transportation-News.com, November 17, 2021 ) The global Driver Facial Analytics market size is forecast to reach $7.9 billion by 2026, growing at a CAGR of 13.2% from 2021 to 2026. Factors attributing towards the market growth of driver facial analytics includes high rate of vehicle crash or fatality incidents owing to driver negligence, drowsiness or lack of concentration and the growing adoption of biometrics and image recognition technology to develop advanced in-vehicle safety systems. Governmental initiatives towards improving transport security and surveillance along with integration of advanced technologies like artificial intelligence to improve facial emotion recognition capabilities is also set to drive the market forward. Adoption of facial analytics can have a significant market growth, due to innovating solutions capable of tracking driver activities and passenger behaviour along with access control in the long run.



    Driver Facial Analytics Market Segment Analysis- By Offering



    Based on offering segmentation, Software is analysed to grow with the highest CAGR of 6.3% in the global driver facial analytics market during the forecast period 2021-2026. Rising rate of road collision incidents as well as integration of advanced technologies like cloud, artificial intelligence and others for automotive safety have been attributing towards the market growth of driver facial analytics software. Adoption of facial recognition software have been gaining wide popularity across automotive markets owing to benefits like providing faster real-time data analysis with high accuracy. Additionally, software offer accessibility on multiple platforms, including cloud, smartphones, tablets and related embedded environments, in order to conduct biometric authentication, emotion and image recognition of the drivers, improving road as well as driver safety. Compared to hardware components, facial analytics software act as a cost efficient alternative owing to elimination of additional maintenance or repair requirements, thus aiding its growth in the driver facial analytics market. In August 2021, NtechLab announced about the launch of a computer vision and biometric software with an advanced algorithm as part of FindFace Multi, capable of enabling biometric matching of faces along with silhouettes of people and cars. The vehicle recognition function of the software help in determining car’s body type, model, reading of license plate and others for identification of same vehicle. Such advancements can further boost the market growth in the long run.



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    Driver Facial Analytics Market Segment Analysis-By Application



    Biometric Authentication is analysed to emerge as the fastest growing segment in the global driver facial analytics market, with a CAGR 8.3% during 2021-2026. Facial recognition through biometric authentication technology help the vehicle owners in maximizing driving safety through voice recognition, iris detection, and many others. Biometric authentication also help in offering real-time identification, verification as well as situation analysis, ensuring faster decision making and generating alerts, which serves as an integral part of its deployment across automotive applications. In addition, integration with AI and data analytics to improve facial analytics with biometrics can also help in boosting its market growth in the long run. In December 2020, AMS AG announced about the launch of a new driver monitoring system particularly for automotive manufacturers which makes use of eye tracking and 3D optical sensing technology. This development was meant to create a detailed map of the driver’s head by assessing its position relative to the road, while enabling driver identification through facial recognition. Through this technology, signs of drowsiness and distracted driving can be easily identified, ensuring its integration with other in-car systems to raise alerts for the driver. Such factors are set to further propel the need for biometric authenticated driver facial analytics systems in the coming time.



    Driver Facial Analytics Market Segment Analysis- By Geography



    APAC is estimated to witness the highest growth of CAGR 15.1% during 2021-2026; the increasing road accidents or fatalities due to driver distractions in the region, as well as governmental initiatives towards improving transportation security and surveillance have been attributing towards the market growth of driver facial analytics across the region. Additionally, technological advances like incorporating artificial intelligence, IoT and others to improve automotive safety, growing adoption of security or surveillance cameras on roads to address reports of over speeding and crash incidents along with investments on facial recognition technology to improve ride hailing services overtime can also fuel the market growth in the long run. In September 2020, the Japan Ministry of Economy, Trade and Industry announced about testing of driverless buses incorporated with a facial recognition ticketing system across the country. Through this, passengers boarding the bus will have their face scanned and registered, ensuring automated ticket charging from the accounts after facial detection. Such advancements are further meant to drive the market growth of driver facial analytics in the coming time.



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    Driver Facial Analytics Market Drivers



    Increasing investments from ride hailing service companies towards facial recognition



    Increasing investments from ride hailing service companies towards facial recognition act as a major factor driving the market growth of driver facial analytics. Ride hailing services have become widely popular overtime due to offering affordable and customized travel experience unlike traditional transport like buses, taxis and others. Due to rising market competition, major ride rental or ride hailing service companies like Uber, Lyft and so on have been already utilizing facial recognition technology for automatic trip monitoring, driver face verification and so on to prevent potential accidents as well as ensure high quality customer service. In August 2019, Uber-owned taxi service, Yandex. Taxi had revealed about its plans of integrating its taxis with facial recognition technology. Integration of a facial recognition software will help to watch out for signs of fatigue and exhaustion, including blinking, yawning, slumped posture with a total of about 68 facial points, while preventing exhausted drivers from taking on further rides. Such initiatives were taken as a part of reducing the rate of road accidents or fatalities caused by taxi drivers, eventually creating a positive impact on the rise of driver facial analytics in the long run.



    Growing shift towards AI based facial recognition drives the market forward



    Growing shift towards AI based facial recognition can also be considered as one of the major drivers boosting the growth of driver facial analytics market. Integration of artificial intelligence (AI) within facial recognition systems help in searching of massive amount of databases and address comparisons more easily with faster speeds. Leveraging AI based algorithms offers capability of reading human faces and recognizing emotions more accurately, thus boosting its market growth for driver facial analytics. In January 2020, Chinese ride hailing giant, Didi had revealed its plans of leveraging AI powered facial recognition ensuring drowsiness detection for drivers. Utilizing AI cameras, along with GPS and accelerometer data from phones will help in detecting dangerous driving patterns, through data availability to safety crews for reviews or assessments. Such advancements can further help in driving the need for driver facial analytics incorporating artificial intelligence in the coming time.



    Driver Facial Analytics Market Challenges



    Security concerns



    Security concerns act as one of the major factors restraining the market growth of driver facial analytics. Threats regarding privacy and security breach incidents lead to slower adoption of facial recognition or analytics technology for vehicle driving applications. Opting for driver facial analytics tools help in recording as well as addressing driver safety concerns through collecting real-time information of facial expressions alongside storing personal information including name, date of birth, contact number, and others, which eventually makes it a significant downside for the market. Rise of cybercriminals and data hacking incidents can create adverse impact for the drivers by concerns like data exploitation, loss of identification or unmatched issues, and so on. This in turn, have been attributing towards as one of the major factors hampering the growth of driver facial analytics market.



    Driver Facial Analytics Market Landscape



    Product launches, acquisitions, and R&D activities are key strategies adopted by players in the driver facial analytics market. The Driver Facial analytics top 10 companies include market include Cognitec Systems GmbH, Panasonic Corporation, NEC Corporation, Ayonix Corporation, Amazon Web Services, Kairos AR Inc. SightCorp Inc., Microsoft Corporation, IntelliVision Corp. and Affectiva among others.



    Acquisitions/Technology Launches/Partnerships



    In June 2020, Panasonic Corporation announced about its partnership with and Pop ID towards bringing facial recognition ordering and payment processes for restaurant as well as retail industries. Under this agreement, Pop ID and Pop Pay will be fully integrated within the Panasonic Clear Connect Kiosk application.

    In May 2019, IntelliVision Corp. announced about developing a full range of AI and video analytics applications, including facial recognition, which was aimed at embedded mart cameras and IoT devices.



    Key Takeaways



    Driver facial analytics software segment is anticipated to witness the fastest market growth during 2021-2026, owing to cost efficiency, faster data analysis and others.

    APAC Driver facial analytics market held the largest share in 2020, due to rising rate of road side accidents or fatalities with others.

    Increasing investments from ride hailing service companies towards facial recognition as well as Growing shift towards AI based facial recognition is analysed to significantly drive the global driver facial analytics market during the forecast period.



    Related Reports:



    A. Advanced Driver Assistance Systems (ADAS) Market

    https://www.industryarc.com/Report/20/advanced-driver-assistance-systems-market.html



    B. Driver Monitoring Systems Market

    https://www.industryarc.com/Report/172/driver-monitoring-systems-global-market-report.html



    For more Automotive Market reports, please click here



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