Face and Voice Biometrics Market to Reach US$ 24 Bn Value by 2025 - Persistence Market Research
NEW YORK, June 19, 2017 /PRNewswire/ --
Governments will be the largest end-users of face & voice biometrics in the world, while revenues from military & defense and law enforcement agencies will register speedy growth at 19.6% CAGR during the forecast period
Increasing adoption of technology in homeland security continues to promote the need for face & voice biometrics at necessary checkpoints. Restricted access might be displeasing for investigations, but entry to only authorized personnel continues to be a great advantage for securing everything - from wealth to wisdom. Installing face & voice biometrics in corporate settings has been a common practice since its inception. Going forward, government offices and public places will also be equipped with face & voice biometrics, making them the most sought-after tech solution for controlling a secured access to facilities. Persistence Market Research concurs that by the end of 2025, the global market for face & voice biometrics will have reached a value of US$ 24 Bn.
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Factors as such will continue to promote the use of face & voice biometrics across the globe. In 2016, over US$ 4.5 Bn worth of face & voice biometric solutions were sold in the world. Persistence Market Research's latest report, titled "Global Market Study on Face and Voice Biometrics: Government Sector Projected to be the Most Attractive End Use Industry Segment During 2017 - 2025 , cites that by the end of 2025, the global face & voice biometrics market will have surged at a stellar 18.1% CAGR
Global Face and Voice Biometrics Market Report Overview @ http://www.persistencemarketresearch.com/market-research/face-voice-biometrics-market.asp
Key drivers for growth in adoption of face & voice biometrics include:
- Implementation of biometrics in banking & payments: In Europe, banking
organizations have made facial biometrics mandatory for customers accessing databases
and other digital platforms. While banking employees continue to use face or voice
biometrics for work, now, customers are also expected to log into their accounts via
such solutions.
- Integrating voice biometrics with customer service management applications: A voice
biometric solution that facilitates the customers to reset their account password at
any point of time (quickly & securely over any telephone) is gaining traction in North
America as employees can have historical knowledge of each customer, thereby leading
to intelligent interactions.
- Implementation of biometrics in public administration: In densely-populated regions
such as Asia-Pacific, face biometric solutions equipped with surveillance cameras,
facial recognition software can improve public administration on light rails, buses,
trains, docks and other public transit utilities. Face biometrics can assist
authorities in monitoring train capacity, attending to medical emergencies and
undertaking law enforcement vigilance such as capturing fare evaders or wanted
criminals.
A sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/5093
According to the report analysis, North America's face and voice biometric market is expected to witness highest growth over the forecast period. Along with Asia-Pacific, North America's face & voice biometric revenues are expected to account for over 66% of the global market revenues by 2017-end. Europe, on the other hand, is expected to witness moderate growth in its face & voice biometric market, which will be primarily backed by steady demand for face and voice biometrics in government offices, law enforcement facilities, and military & defense sector.
The report also forecasts that revenue from sales of face biometric solutions in the global market will witness a rise from US$ 4.6 Bn in 2017 to an estimated US$ 17.7 Bn by 2025-end. Meanwhile, biometric solutions developed on voice recognition technologies are projected to create incremental opportunity of US$ 4.5 Bn between 2017 and 2025. The report also reveals higher demand for conventional type of face & voice biometrics, as opposed to mobile.
View Report Table of Contents, Figures, and Tables@ http://www.persistencemarketresearch.com/market-research/face-voice-biometrics-market/toc
The report has also profiled leading developers of face & voice biometric solutions as key players in the global market, and they include
- 3M Cogent, Inc.,
- Apple, Inc..,
- NEC Corporation
- ImageWare System
- Inc.
- Cognitec Systems GmbH
- Atos SE
- Morpho (Safran)
- Nuance Communications, Inc.
- FaceFirst
- M2SYS Technologies
- Others
Global Face and Voice Biometrics Market Report 2017-2025 is available for $4900 (Single User License) @ http://www.persistencemarketresearch.com/checkout/5093
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