Market research firm Research and Markets has a new report available on the face and voice biometrics market. Entitled “Face and Voice Biometrics – Global Strategic Business Report”, the report offers predictions for the period between 2013 and 2020, and also offers a seven-year historical analysis. It also analyzes 107 different companies involved in these markets, with the vast majority (56) in the US and many others in the Asia-Pacific region, Europe, and Canada.
While the firm is being tight-lipped about the specifics of its new report’s findings, it seems a fair bet that growth is in the cards for both face and voice biometrics. A Research and Markets report on voice biometrics published at the end of January predicted growth of 9.4 percent CAGR between 2014 and 2019, while a report issued this month on the overall global biometrics market predicts a growth rate of 14 percent CAGR until 2020.
Facial recognition technology, meanwhile, is continuing to gain popularity. Law enforcement authorities are increasingly finding it useful for identifying criminals and matching individuals to database images, while elsewhere the technology is gaining momentum in commercial applications, as in the case of Alipay, the mobile payment and commerce platform, which is going to use facial recognition technology for user authentication in transactions.