Numerous factor such as growing impact of facial and body recognition technology, latest advancements in machine learning technology and growing popularity of Self-managed identity solutions are some of the key driving factors for the growth of walking barcodes market.
However, privacy and security issues related to their data may hinder the growth of the market. Furthermore, enhanced security, analytics and big data with growing penetration of 5G technology and rise in the demand of adoption of tracking systems are expected to increase opportunities for the market.
The technological advancement in machine learning have created software which can determine the person’s face from imagery to video which is unique and thus it will help you to offer higher degree of accuracy than earlier. The walking barcode will make it possible to track large number of people automatically as they move through public space, which is not possible with human labor.
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In addition to this, this tracking can also be used in police and security organizations as Facial recognition which will further merge the tracking that happens in the digital and physical realms.Thus the implementation of facial and body recognition technology can be implemented into various sectors and thus driving the growth for the market.
However, the scanning, image and facial recognition includes personal data information and thus, the privacy and security would always remain on consumer’s mind and which needs to be prioritized. The organizations need to be transparent and also ensures the consumers about each scanning process, transaction or consent is completely obtained.
In addition to this, the organizations also need to give complete information about the building platforms in which the users would able to see their complete and detailed scanned information.
Key benefits of the report:
- This study presents the analytical depiction of the global walking barcodes market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of global walking barcodes market share.
- The current market is quantitatively analyzed from 2019 to 2027 to highlight the global walking barcodes market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed walking barcodes market analysis based on competitive intensity and how the competition will take shape in coming years.
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