FB pixel

Biometrics research briefs: voice recognition, cloud biometric services, intelligent and risk-based authentication

 

New biometrics market research indicates that both cloud biometric services and voice biometric technologies will be worth $2.7 billion in 2024, as both fields grow rapidly, along with risk-based and intelligent authentication methods.

Cloud biometrics

The global market for Biometrics-as-a-Service will grow from $1.2 billion in 2019 to $2.7 billion by 2024, a CAGR of 17 percent, driven by government data-security initiatives, increasing mobile device usage, and growth in fraud detection and prevention systems, according to MarketsandMarkets.

The 68-page “Biometric-as-a-Service Market by Application Area (Government and Defense, Financial Services, Healthcare, Law Enforcement, and Human Resources), Modality (Unimodal and Multimodal), Offering (Solution and Services), and Region – Global Forecast to 2024″ also shows investment by the financial services segment in cloud biometrics leading to the largest market segment, and multimodal biometrics outpacing solutions utilizing individual modalities.

The report also shows North America continuing to lead global regions in adoption, and considers major vendors in the market.

Risk-based authentication

A new market report from Garner Insights forecasts impressive growth in risk-based authentication services over the next five years.

The report “Global Risk-Based Authentication Services Market 2019 By Company, Regions, Type And Application, Forecast To 2024” examines market growth, key factors and challenges, and major companies providing risk-based authentication services. It considers regional markets, managed services and professional services coverage types, and application segments including banking, financial services, and insurance (BFSI), government, healthcare, manufacturing, retail, and telecommunications.

Market leaders identified by the research include IBM, Okta, Gemalto, Entrust Datacard, Ping Identity, Onelogin, Crossmatch, BioCatch, and ForgeRock.

Voice biometrics

The BFSI, healthcare and life sciences, retail and ecommerce, and telecom and IT markets are all expected to grow by between 21.5 percent and 26.1 percent CAGR, as the total market reaches $2.7 billion by 2024, according to KBV Research.

The Global Voice Biometrics Market report forecasts a total growth of 22.7 percent CAGR, with access control and authentication the leading application type. Fraud detection and prevention and forensic voice analysis and criminal investigation technologies are also expected to grow by 23.4 percent and 24.2 percent CAGR, respectively.

The market will be dominated by North America, despite faster growth in Europe and the Asia Pacific market. The report identifies Nuance, Verint, NICE, and AimBrain among market leaders.

Intelligent authentication and voice biometrics

As large banks, e-retailers, wireless carriers and other global companies encourage customers to engage through mobile apps, messaging platforms, and website chatbots, demand for zero-effort authentication is driving adoption of biometrics, and voice recognition in particular, according to a new report from Opus Research.

The “2019 Intelligent Authentication and Voice Biometrics Intelliview” report considers 13 firms offering voice biometrics, which have combined to enroll roughly 600 million voiceprints, used for more than 2 billion authentications annually for estimated fraud loss reductions of $300 billion.

Article Topics

 |   |   |   | 

Latest Biometrics News

 

UK shop theft inquiry addresses use of facial recognition to combat retail crime

The Justice and Home Affairs committee has issued a call for reforms to address the rise in organized retail crime,…

 

Evolving age assurance landscape takes spotlight in Liminal webinar

Regulations, it turns out, are highly irregular, particularly when it comes to age assurance. In a recent webinar hosted by…

 

ATO prevention remains top focus for key biometrics firms

Account takeover (ATO) fraud continues to be a concern, and as a result, digital identity industry leaders are introducing new…

 

Idemia, Secure Systems integrate SPAC protocol for high-security biometric access

Idemia Public Security has partnered with Secure Systems, a subsidiary of French construction engineering firm Vinci Energies, on a new…

 

Philippines postal service introduces ID card for KYC

The Philippine Postal Corporation (PHLPost) has launched a postal identity card that will help citizens confirm their identities and addresses….

 

Scammers capitalize on Australia’s myID rebrand

In its continued push to clarify and implement digital identity, the Australian government has announced that the myGovID app is…

Comments

Leave a Reply

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

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events