Worldwide Social Credit Industry - Infrastructure to Support Social Credit Systems Represents a $16.1 Billion Opportunity by 2026 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 23, 2021--
The “SocialCredit Market by Physical and Cyber Infrastructure (Sensors, Cameras,Biometrics, Computer Vision), Software (Machine Learning, Data Analytics,APIs), Use Cases, Applications, Industry Verticals, and Regions 2021 - 2026” report has been added to ResearchAndMarkets.com’s offering.
This is the only report of its type to assess market opportunities for infrastructure support of the social credit market. The report evaluates market drivers, use cases, and consequential impacts/implications (anticipated and likely unanticipated) for social credit market implementation and operation.
The report also evaluates some of the leading companies that are anticipated to drive social credit market evolution. This report includes detailed quantitative analysis driven by market needs with forecasting for all major infrastructure elements from 2021 to 2026.
- Analog Devices
- Bosch Security Systems
- Broadcom Limited (Avago)
- China Rapid Finance
- Deep Vision AI
- Infineon Technologies
- NEXT Biometrics
- NVidia Corporation
- NXM Semiconductors
- Omron Corporation
- Robert Bosch GmbH
- Texas Instruments
Select Report Findings:
- The COVID-19 pandemic has facilitated substantial interest in citizen monitoring solutions
- Infrastructure to support social credit systems represents a $16.1B global opportunity by 2026
- Cameras and other optical equipment for social credit systems will reach $723M globally by 2026
- Advanced computing will be used in conjunction with AI to provide nearly flawless identification and tracking
- Various forms of biometrics will be used for identity verification as well as verifying the presence/location of people
- Starting as tangential to public safety and homeland security, the social credit market becomes mainstream by2026
- Social credit systems represent the ability to identify (mostly people but also some “things”) and track activities for purposes of grading behaviors and applying “social credit” scoring. A given grading/scoring methodology depends largely on social credit system objectives and metrics.
However, most systems will have socially acceptable behaviour at their core. This presents both a challenge and an opportunity as a combination of government, companies, and society as a whole must determine “good”, “bad”, and “marginal” behavior within the social credit market.
Beginning as a trend largely orthogonal to public safety and homeland security concerns, the market for social credit system infrastructure will ultimately become a mainstream component of both business and public policy.
This means that systems will ultimately be used for a variety of commerce and lifestyle-related issues ranging from risk assessment (access to credit, financing fees, insurance, etc.) to accessibility within public places such as concerts, sporting events, and other assemblies. High social scoring individuals within the social credit market will be granted preferred access to both real and digital assets.
Social credit system infrastructure includes analogue and digital surveillance, Internet-enabled devices like smartphones, wearable devices, security systems, sensor-enabled physical objects, and surveillance devices that use biometrics and computer vision. Technologies include broadband wireless (WiFi, LTE, and 5G), IoT, AI algorithms, and big data analytics platforms, processes, and procedures.
While each of these systems has market value individually, and are deployed separately for various purposes, it is the convergence of these otherwise disparate technologies that will facilitate value within the social credit market. For example, combined AI and IoT systems will be leveraged to identify important events that require immediate action versus those that are merely archived.
It is important to note that there is great overlap between the technologies used for social credit systems and other solutions such as public safety, homeland security, and smart cities applications of many types including smart transportation (highways and surface streets, parking, autonomous vehicles, etc.), intelligent buildings, environmental monitoring (light, temperature, pressure, etc.). Many of these infrastructure elements are already planned for smart city implementations and will, therefore, be multi-purposed including support of the social credit market.
In terms of physical infrastructure, social credit systems will rely upon various forms of equipment and platforms including sensors, biometrics, cameras, and other optical devices, computer vision systems, and other advanced computing platforms.
Cyberinfrastructure includes platforms, devices, and software to support data processing and correlation with identity information, which shall leverage AI, IoT, and advanced data analytics. The main purpose for all the aforementioned infrastructure elements is to capture data, which must be stored and acted upon as appropriate.
Key Topics Covered:
1.0 Executive Summary
3.0 Social Credit System Technologies and Applications
4.0 Company Analysis
5.0 Social Credit Systems Market Analysis and Forecasts
6.0 Conclusions and Recommendations
7.0 Appendix: Social Credit Market Supporting Technologies
For more information about this report visit https://www.researchandmarkets.com/r/vwjkzu
View source version on businesswire.com:https://www.businesswire.com/news/home/20211223005270/en/
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SOURCE: Research and Markets
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PUB: 12/23/2021 08:15 AM/DISC: 12/23/2021 08:16 AM