Technavio publishes reports on military biometrics, mobile biometrics, voice recognition
The report, which analyzed the present scenario and the growth prospects of the global military biometrics market for 2016-2020, forecasts that the global market will grow at a CAGR of 7.5% during the 2016-2020 period.
The 63-page report divided the market into the geographical segments of the Americas, APAC and EMEA, based on the revenue generated from the sales of biometric systems in the military.
Technavio analysts identified the global market’s key vendors as 3M Cogent, Crossmatch, M2SYS Technology, NEC and Safran, as well as named other prominent vendors like 4Gid, AGNITIO, Aware, BIO-key International, Corvus Integration, Fujitsu, Fulcrum Biometrics, Gemalto, Giesecke & Devrient, HID Global, Northrop Grumman, Precise Biometrics, Suprema and Thales.
The report attributed rising security concerns, increasing adoption in homeland security, and high refugee influx as the main market drivers.
Technavio sees limitations regarding data accuracy, price and design constraints, and data hacking threats as the main market challenges.
Conversely, Technavio identifies the market trends as the introduction of multimodal biometrics, biometrics in wearables devices, the use of voice and face recognition in border security and criminal identification, and technological advancements.
Technavio also published its latest ‘Global Mobile Biometrics Market 2016-2020’ research report, which forecasts that the global mobile biometrics market is projected to grow at 103.3% CAGR during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global mobile biometrics industry for 2016-2020, providing key statistics on the market status of the mobile biometrics manufacturers.
The report identifies the market’s key vendors as 3M Cogent, Apple, Google, NEC, and Nuance Communications, as well as naming such prominent vendors as AGNITiO, Allied Time USA, AMD, Animetrics, ASUS, BioEnable, BioID, BIO-key, Cognitec Systems, Dell, Dermalog Identification Systems, Diamond Fortress, FacialNetwork, Fareclock, Fingerprint Cards, Fulcrum Biometrics, HP, IDEX ASA, ImageWare Systems, Intel Security, Kairos, KeyLemon, Lenovo, M2SYS Technology, Precise Biometrics, Samsung, SpeechPro, Suprema, VoicePass, ValidSoft, VoiceTrust, VoiceVault, and Windows.
Technavio identifies the main market trends as voice biometrics in the financial sector, facial recognition in the BFSI sector, fingerprint biometrics in the government sector, and fingerprint biometrics in the healthcare sector.
The main market challenges include competition from non-biometrics technologies, privacy issues, high TCO, and high error rates, the report said.
Finally, Technavio released its ‘Global Voice Recognition Biometrics Market 2017-2021’ report, which analyzes the most important trends expected to impact the market outlook from 2017-2021.
Technavio states that voice recognition technology provides an additional layer of security over PINs and smart cards, increasing its adoption in the government, automotive, healthcare, and BFSI sectors.
Several devices such as smartphones and mobile devices are embedded with voice recognition biometrics to improve customer experience. Meanwhile, the government is increasing its investment in voice recognition biometrics for internal and cross-border security.
Technavio ICT research analysts forecast that the top three emerging trends driving the global voice recognition biometrics market are the introduction of voice recognition biometrics in the automotive sector, in multimodal biometrics, and in wearables.
ication does not provide the accurate and exact match of the identity of an individual.
The report identifies the key vendors as AGNITIO, Nuance Communications, VoiceTrust, and VoiceVault.
“Voice recognition biometrics has a low total cost of ownership and is more user-friendly compared with other biometrics technologies, as it eliminates the need for a multitude of complicated passwords to gain access to secure transactions and systems,” said Ishmeet Kaur, a lead analyst from Technavio, specializing in research on IT professional services sector.
Previously reported, Technavio released a new research report on the global biometrics market in the banking, financial services and insurance (BFSI) sector, which analyzes the most important trends expected to impact the market outlook from 2016 to 2020.