The Global Market for Face and Voice Biometrics is Projected to Reach US$4.7 Billion by 2020

Growing Security Concerns Drive the Global Market for Face and Voice Biometrics, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Face and Voice Biometrics. The global market for Face and Voice Biometrics is projected to reach US$4.7 billion by 2020, driven by growing security concerns, against the backdrop of increasing crimes such as terrorist attacks, racial disturbances, financial frauds, illegal immigration, and physical assaults

Technologies such as vein pattern scanning, fingerprint identification and hand geometry require physical contact with the biometric systems for identification. Facial and voice biometrics, in comparison,   can establish an individual’s identity without any established contact between the person and the system. The non-intrusive features give these technologies an edge over other biometric modalities. Successful government and commercial implementations are encouraging the adoption of face and voice biometric technologies in the field of Information Security. Voice biometrics, which is widely used in password reset application in enterprise IT help desk and customer care operations, is especially poised to witness growth. Voice biometrics is expected to evolve into a mainstream commercial user authentication technology in a range of customer-facing applications.

In the United States, the market outlook remains bright against the backdrop of growing focus on tightening security measures in defense, customs and border protection, banking, and healthcare sectors. The country offers favorable opportunities for adoption in the financial services and banking industry. Stringent regulations and the growing need for enhanced security of online transactions are expected to encourage implementation of the technology in banks and other financial institutions. In Europe, the use of biometric technologies in the public sector is witnessing growth supported by the EU government’s agenda to implement Biometric IDs for citizens. Driving interest in these national agendas is the ability of these programs to strengthen cross border security and control fraud. Additionally, as Europe turns its focus to international trade, biometrics is poised to play an instrumental role in trade facilitation by enhancing operational security. Adoption of biometrics therefore remains high in commercial shipping and international trade applications. The emphasis on curbing illegal immigration is strong in Europe, given the high annual costs incurred by governments in supporting immigrant population.

As stated by the new market research report on Face and Voice Biometrics, the United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 20.1% over the analysis period. Face Biometrics represents the fastest growing product market with sales waxing at a CAGR 15.8% over the analysis period.

Major players in the global market include 3M Cogent , AcSys Biometrics Corp. , AGNITiO S.L., Cognitec Systems GmbH , Eurotech S.P.A , Ivrnet Inc., Kimaldi Electronics, S.L., National Security Resources , NEC Corporation of America , Neurotechnology, Nuance Communications Inc. , PSP Security Co. Ltd , SAFRAN Group, Sensible Vision, Sensory Inc. , Suprema, Inc. , VoiceTrust GmbH, VoiceVault, Inc.  

The research report titled “Face and Voice Biometrics: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for global face and voice biometrics market in US$ for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, UK and Rest of Europe), Asia-Pacific, Middle East, and Latin America.

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