Developing economies utilizing the availability of face and voice biometric technology

Technology - Mohit Shah - Aug 02,2017

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developing economies utilizing the availability of face and voice biometric technology

As per the research findings, the application segment focused on government utility is expected to gain pace at a CAGR of 18.3% during the period 2017-2025.

In this high tech era, passwords and PINS to gain access to systems has been replaced by newer technology such as face and voice biometrics recognition. Currently, the effectiveness of face and voice biometrics is quite active in the field of computers, electrical machinery, scientific instruments etc. 

As per a recent report published by Market Research Reports Search Engine (MRRSE), foreign investors are central in the growth of the face and voice biometric market. It has been analyzed that, national governments – mainly in emerging economies – are providing opportunities to foreign direct investors to actively invest in refining the standards and infrastructure of the face and voice biometrics. The prime regions for face and voice biometrics market is centered at North America, Latin America, Europe, MEA, and APAC. Among these, the developing economies are spotted as the highest contributors.

In the present day scenario, face and voice biometrics are seen as the focused technologies, with the popular types categorized as conventional and mobile. The current end user industries for this technology include banking, financial services & insurance (BFSI), government, healthcare, law enforcement, military & defense, commercial and IT & telecom. Among these, the government segment is anticipated to witness a rise in revenue from a scale close to US$ 1.7 Bn in 2017 to more than US$ 6 Bn by the end of 2025. At this pace, the market is estimated to acquire a CAGR of 18.3% during the stated forecast period.

The growth of the global face and voice biometrics market can also be contributed to the efforts placed by the top companies from this sector. 3M Cogent, Inc., Apple, Inc., Cognitec Systems GmbH and FaceFirst, are among the leading companies which are expected to push the face and voice biometrics market to new heights.

 

For more information on this report visit- http://www.mrrse.com/face-voice-biometrics-market