Biometrics research briefs: voice recognition, cloud, and fingerprint sensors
Both voice biometrics and cloud-based identity services are being forecast to grow faster than 20 percent CAGR over the coming years, while falling prices for fingerprint sensors will not prevent that market from doubling by 2024, according to new research.
Voice market to reach $3.91B by 2026
The global market for voice biometrics will increase at a 23.5 percent CAGR from $690 million in 2018 to $3.91 billion in 2026, according to research by Reports and Data.
Access security makes up nearly half of the market (45.7 percent), according to the “Voice Biometrics Market Analysis…” report, which examines the applications, components, deployment types, size, and user industry of the technology with forecasts to 2026.
Increasingly complex cyber attacks are driving voice biometric adoption, particularly in the BFSI sector, which is expected to remain the largest segment of the market through the forecast period. The Asia-Pacific market, which includes the largely untapped potential of China and India, is expected to have the highest growth rate over the next seven years.
The 150-page report also examines key players in what it characterizes as a fragmented vendor landscape.
Fingerprint sensors market to double by 2024
Sales of fingerprint sensors are projected to generate $3.5 billion in 2019, but rise dramatically at a 15.3 percent CAGR to $7.1 billion by 2024, according to a new report from MarketsandMarkets. Extensive use in consumer devices, high adoption rates among governments, and the emergence of biometric smart cards for BFSI applications will be among key drivers to market growth.
Capacitive sensors are expected to remain the leading sensor type, while consumer electronics will make up the end-use application with the largest share. The region with the largest share of the global market will be Asia-Pacific, according to the “Fingerprint Sensor Market…” report.
IDaaS to grow at over 21 percent CAGR
Cloud-based security solutions are increasingly in demand, with the Identity as a Service (IDaaS) market growing from $2.5 billion this year to $6.5 billion by 2024, a 21.1 percent CAGR, according to a new report available from Reportbuyer.
The advanced authentication segment is expected to have the highest growth rate through the forecast period, and large organizations of 1000 or more employees are expected to be the top customer group. The Asia-Pacific region, with fast-growing economies and a recent history of security threats and compromises, is expected to invest the most in the technology.
Overall global market increasing
Revenues from the global biometrics market will increase substantially through 2026, according to new market research from Global Market Estimates (GME).
The “Global Biometrics Market Size, Share, Analysis- Forecasts to 2026” report breaks down the market by biometric modality, functionality (contact, non-contact, or combined), component, singe or multi-factor authentication, end user, region, and country. It also examines the vendor landscape and profiles companies investing in research and innovation, building their brand, and forming partnerships.
While biometrics are already playing a major role in many industries, there is increasing interest in the technology among state and local governments, according to a new report from BCC Research. The 329-page “Biometrics Extended by Affective Computing: Technologies and Global Markets” report is now available from ResearchAndMarkets.com.
Affective computing is sometimes known as emotional intelligence or emotion AI, but the report appears to cover the industry fairly broadly.
Major global players profiled in the report include Apple, Bayometric, Cmitech, and Unioncommunty.