Biometrics research briefs: identity access, voice, border control
Identity access management (IAM)
Market Insights, a research consultancy, projects that the global consumer identity access management (IAM) market was valued at US$12.46 billion in 2016 and is projected to reach US$53.4 billion by 2025, growing at a compound annual growth rate (CAGR) of 17.56 percent from 2017 to 2025.
Identity access management (IAM) enables the right individuals to access the right resources at the right times and for the right reasons. Consumer identity access management system provides the ability to register consumer, authenticate consumer, manage identities, connect consumer to internal and third-party applications, and scale across multiple consumer bases, business units and partner offerings.
The major drivers of the market are: increasing need of biometric authentication for customer identity management; adoption of cloud-based consumer IAM solutions; rising concerns for management of consumer identities; increasing usage of IoT and smart devices; and compliance and regulations management. Major market restraints include:
poor identity standards across organizations; issues with traditional enterprise IAM solutions; and combinations of consumer data distributed across multiple locations.
The main firm within the space include: Microsoft Corporation, Trusona, Ping Identity Corporation, Gigya, Inc., IBM Corporation, Globalsign, Janrain, Inc., Iwelcome, Loginradius, Inc., Forgerock, Okta, Inc. Some of these major players have adopted various organic as well as inorganic growth strategies such as mergers and acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
According to a new market report published by Transparency Market Research, the global voice biometric solutions market is expected to reach a value of US$13 billion by 2026 on account of growing adoption of voice biometric solutions and biometric technology across various industries.
The market is projected to expand at a compound annual growth rate (CAGR) of 17.3 percent during the forecast period from 2018 to 2026. North America is leading the voice biometric solution market with more than 30 percent share globally. This is due to increase in advance technologies for voice biometric solutions and also high penetration of biometric solutions in the region. Furthermore, strong presence of voice biometric solution providers across the region is contributing to the growth of the market. North America is contributing the highest share in the voice biometric solution market because the U.S. is considered as a highly developed country in terms of technological innovations and adoptions.
In terms of new opportunities, Asia Pacific is expected to witness healthy growth during the forecast period. Increasing awareness of voice biometrics technology as well as adoption of advance and technological solutions in the biometric industry across countries such as Singapore, India, South Korea, Taiwan, China, Malaysia, and Thailand is expected to offer prominent opportunities to the voice biometrics solution market.
The authentication speech recognition software segment is expected to see flourishing growth, owing to rising demand for authentication and client and customer verification solutions.
Automated border control
Frost & Sullivan estimates that the automated border control market is currently worth US$200 million and is growing at 10%+ annually.
The research firm notes that border control, driven mainly by airports, along with financial services remain the fastest growing biometric segments.
Frost & Sullivan notes that the benefits of biometrics are numerous – from faster passenger processing, reduced queues and the elimination of bottlenecks, to increased security and better understanding of passenger flows and behaviors.
Passengers and airport operators are deemed to be the main beneficiaries as the former will benefit from better service and the latter will experience improved situational awareness. Airports have traditionally been the weak links in the passenger journey, as operators lack the passenger data and insights that airlines have long benefited from. Biometrics promises to change that, allowing airports to enhance the passenger experience, develop better services and deliver new products for travelers.