FB pixel

Biometrics research briefs: AFIS, identity verification, Europe, and voice biometrics

 

This week, biometric market research continues to indicate rapid growth in demand for AFIS systems, and even faster growth for voice biometrics over the next several years. The identity verification market is set to double in the next five years, and ResearchAndMarkets.com explores the European biometrics market.

AFIS

Global revenues from the automated fingerprint identification system (AFIS) market are projected to grow by 18.4 percent CAGR to $12.46 billion by 2025, with advanced security systems increasingly in demand across various industries, according to Grand View Research. The growing adoption of mobile payments and demand for integrated AFIS solutions will also drive growth.

The government and software segments are both expected to account for significant shares of the market. North America will be the largest regional market throughout the forecast period, and be worth $4.05 billion by 2025, as law enforcement agencies deploy AFISs.

Key market players identified include Gemalto, NEC Corporation, Crossmatch (now owned by HID), IDEMIA, Dermalog, Suprema, Fujitsu, Sonda Technologies, HID Global, Papillon Systems, East Shore Technologies, and AFIX Technologies.

According to the 132-page “Automated Fingerprint Identification System (AFIS) Market Size, Share & Trends Analysis Report By Component (Hardware, Software, Service), By End Use, By Region, And Segment Forecasts, 2018 – 2025,” security systems used everywhere from government agencies to smart homes will boost the AFIS market.

Identity verification

The rising number of identity-related fraud incidents and data breaches, and an increasing emphasis on compliance are driving the global identity verification market to bring in $6 billion in 2019, and grow at a 16 percent CAGR to $12.8 billion by 2024, a new report from MarketsandMarkets predicts.

The fastest growing industry verticals for identity verification are expected to be retail and healthcare, according to the report, while emerging geographic markets, particularly in the APAC and MEA regions, and large-scale implementations of cloud-based solutions offer potential market opportunities.

“Identity Verification Market by Component (Solutions and Services), Deployment Mode, Organization Size, Industry Vertical, and Region (North America, Europe, APAC, Middle East and Africa, Latin America) – Global Forecast to 2024” also forecasts the small and medium-sized enterprise (SME) segment will grow at a faster rate than the large enterprise segment, but big businesses are starting from a larger market share in 2019.

Key players identified include Experian, LexisNexis, Equifax, Mitek Systems, Gemalto, Onfido, Trulioo, Acuant, IDEMIA, Jumio, Authenteq, Shufti Pro, IDMERIT, iDenfy, and Transunion.

European market

Growth in physical and cybersecurity attacks, Internet of Things (IoT) trends and increasing regulation are driving demand for biometric technology in Europe, according to a new report from ResearchAndMarkets.com.

The “European Biometrics Market, Forecast to 2023” analyzes the market size by segment, and explores market dynamics, challenges, trends, product analysis, and growth drivers. It examines the government segment, including border control, e-ID and law enforcement, and the commercial segment, including physical and logical security and surveillance.

Despite a breakthrough 2017 for facial biometrics, fingerprint remains the dominant modality across government and commercial applications, due to its low cost, according to the 75-page report.

Voice biometrics

The global market for voice biometrics will be worth $984 million this year, according to MarketsandMarkets research, and is forecasted to grow at a 23.7 CAGR to $2.845 billion by 2024 due to growing demand for robust fraud detection across the BFSI vertical and a need to reduce authentication and identification costs.

The “Voice Biometrics Market” report breaks down the market by application, component, type, deployment, organization Size, industry vertical, and region. It shows access control and authentication is the largest application market segment, and that the Asia Pacific region will grow at the fastest rate over the next five years.

Major solutions providers identified include Nuance Communications, NICE, Verint, AimBrain, Voice Biometrics Group, Phonexia, OneVault, SESTEK, LumenVox, LexisNexis Risk Solutions, VoicePIN, Uniphore, Pindrop, Aculab, and Auraya.

Article Topics

 |   |   |   |   | 

Latest Biometrics News

 

The UK’s election may spell out the future of its national ID cards

Identity cards are back among the UK’s top controversial topics – thanks to the upcoming elections and its focus on…

 

Challenges in face biometrics addressed with new tech and research amid high stakes

Big biometrics contracts and deals were the theme of several of the stories on that drew the most interest from…

 

Online age verification debates continue in Canada, EU, India

Introducing age verification to protect children online remains a hot topic across the globe: Canada is debating the Online Harms…

 

Login.gov adds selfie biometrics for May pilot

America’s single-sign on system for government benefits and services, Login.gov, is getting a face biometrics option for enhanced identity verification…

 

BIPA one step closer to seeing its first major change since 2008 inception

On Thursday, a bipartisan majority in the Illinois Senate approved the first major change to Illinois Biometric Information Privacy Act…

 

Identity verification industry mulls solutions to flood of synthetic IDs

The advent of AI-powered generators such as OnlyFake, which creates realistic-looking photos of fake IDs for only US$15, has stirred…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read From This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events