April 12, 2013 -
A new report is available on the face and voice biometric technologies market, which suggests that globally, the market is expected to be valued at nearly $3 billion by the end of 2018.
The growth, according to the report, is primarily being fueled by rising threats to security as well as the unobtrusive nature of collecting face and voice biometrics.
Published this year by Global Industry Analysts, “Face and Voice Biometrics: Market Research Report” also contains annual estimates and forecasts for the period 2010-2018, besides including an in-depth six-year historic analysis for these markets. In addition, the report profiles 150 different companies competing in this sector.
The United States still accounts for the largest share of the global face and voice markets, through most of its anticipated growth is expected to come from emerging economies, with the Asia-Pacific taking the lead.
The Biometrics Research Group has also argued that emerging economies will be aggressive adopters of biometric technology – particularly in the banking sector.
The Biometrics Research Group also noted that mobile devices are expected to drive the bank adoption of voice biometrics, and pinpointed that Asia is expected to lead the growth in biometric banking applications. The group estimates the total revenues for biometrics supplied to the global banking sector will total US$900 million by the end of 2012.