The facial recognition market has experienced a rapid upsurge in adoption in recent years. All credit to the tech giants dominating the smartphone industry that helped bring this technology to the forefront, making it a part of the consumers’ day to day lives. The ripple effect of this mass adoption can be seen across the globe as the technology previously perceived as a gimmick, protecting a rogue corporate asset in a Tom Cruise spy thriller or action movie, is now being used in almost every industry.
A recent report from Research and Markets summarized that “the market (i.e. facial recognition market) is driven mostly by companies and government organizations that are trying to digitize certain mundane everyday activities such as attendance to save time and eliminate human interference”. This goes to show that the use of facial recognition is no longer restricted to security, but now includes convenience, speed, durability, and ease of use. The report goes on to state that the facial recognition market grew to reached an estimated $4.3 billion US in 2018 and is expected to continue growing at a CAGR of ~13.5% over the next 6 years to a massive $10.43 billion US by 2025.
These numbers do not come as any surprise considering facial recognition as a biometric technology is extremely versatile. It can be and should be used not only for access control and identity verification but also for high throughput time tracking (also known as time and attendance or workforce management in some parts of the world) or home automation. When integrated with an enterprise-grade software, facial recognition has the potential to achieve multiple objectives through a single device. Invixium’s management team was cognizant of this upcoming trend, which is why in 2016, Invixium embarked on the development of a stunning facial recognition product. It was evident even at this time, that face recognition would soon become a dominant biometric technology. This vision coupled with Invixium’s unyielding passion to engineer the best in class products purpose-built for physical access control and workforce management, gave birth to IXM TITAN. Incorporating trusted technologies to bring the best of security and convenience to our customers, TITAN was developed not as a “one of a kind” biometric product, but as the “only product of its kind” using proprietary AI-based facial recognition technology for superior performance in access control and attendance management applications.
Since the launch of TITAN, Invixium has seen tremendous traction from the market – a testament to its phenomenal capabilities that have broadened the adoption of biometrics into new markets. TITAN has been deployed in a variety of applications in extreme environments throughout the world. From remote construction sites using TITAN’s cellular connectivity to transfer attendance data of thousands of workers to a central server; to data centers and nuclear power plants taking advantage of the dual biometrics and 4-factor authentication (Face + Finger + Card + PIN) features for enhanced security. At the crux of it all lies the facial recognition technology, poised to become the shining star of the biometric industry, if it hasn’t already.