market trends

Grand View Forecasts $31.82 Billion Speech and Voice Recognition Market

Grand View Forecasts $31.82 Billion Speech and Voice Recognition Market

A new report from Grand View Research predicts that the market for speech and voice recognition tech will hit $31.82 billion by 2025. The rising demand for voice-activated virtual AI assistants is expected to drive much of that growth, leading to a CAGR of 17.2 percent. The banking, automotive, and healthcare sectors are expected to…

Goode Intelligence: Digital Identity Market Will Hit $15 Billion by 2024

Goode Intelligence: Digital Identity Market Will Hit $15 Billion by 2024

The demand for digital identity and document verification services is expected to skyrocket as the technology continues to improve. At least, that’s the takeaway from a new report from Goode Intelligence, which predicts that the market for such tech will hit $15 billion by 2024. According to the report, identity and document verification is so…

The Identity Verification Market is Set to Skyrocket: Report

The Identity Verification Market is Set to Skyrocket: Report

MarketsandMarkets has released a new report that predicts that the market for identity verification tech will more than double from $6 billion in 2019 to $12.8 billion by 2024, with a CAGR of 16 percent. The rising demand for reliable identity verification solutions and services is expected to drive much of that growth as companies…

Goodix Exec: US-China Trade War Slowing Mobile Biometrics Market Growth

Goodix Exec: US-China Trade War Slowing Mobile Biometrics Market Growth

The US-China trade war is slowing growth in the mobile biometrics market, suggest comments made by a senior Goodix executive at the latest Mobile World Congress. Speaking to the Nikkei Asian Review, Goodix CTO and COO Pi Bo said, “Under the current conditions, it has become very unlikely for Chinese tech companies like us to…

Apple Pay Now Has 383 Million Users: Loup Ventures

Apple Pay Now Has 383 Million Users: Loup Ventures

Apple’s biometrically secured digital payments platform continues to attract new users, according to a new analysis from Loup Ventures. The venture capital firm had estimated in August of last year that Apple Pay had attained 31 percent of active iPhone users; now, after assessing data points from Apple’s December 18th earnings call, the firm says…

People Will Trade Personal Data for Convenience and Security: Experian

People Will Trade Personal Data for Convenience and Security: Experian

People are more than happy to share their personal data, just as long as they’re getting something in return.  That’s the main takeaway from Experian’s Global Identity and Fraud Report, which found that growing privacy concerns have not soured people on the overall potential of the digital experience. The vast majority (90 percent) of consumers are…

Juniper Research Goes Bearish on mPayments in New Report

Juniper Research Goes Bearish on mPayments in New Report

“The window of opportunity in the US for mobile payment providers like Apple Pay and Google Pay is closing fast,” writes Juniper Research in a new report on the mPayments market. Assessing the results of a survey of over a thousand smartphone users across the US and the UK, Juniper Research finds dismaying trends for…

Research: Behavioral Biometrics Market  on Track to Hit $3.9 Billion by 2025

Research: Behavioral Biometrics Market on Track to Hit $3.9 Billion by 2025

The behavioral biometrics market is really going to come into its own over the next several years, suggests a new report from Allied Market Research. The firm estimates that the global behavioral biometrics market was valued at about $720.5 million in 2017, and that it will reach a whopping $3.922 billion by the year 2025.…

Mobile Payments Continue to Climb as Biometrics Boom Continues: Goode

Mobile Payments Continue to Climb as Biometrics Boom Continues: Goode

“This trend is part of the larger mobile biometrics boom, with Goode Intelligence forecasting in its report that mobile biometric payments will amount to $1.67 trillion per annum by the end of the forecast period.” Mobile payments are going to keep climbing as the mobile biometrics boom continues to unfold in the world of financial…

‘Curb to Gate’ Biometric Airport Automation is on the Way: Acuity

‘Curb to Gate’ Biometric Airport Automation is on the Way: Acuity

“Shanghai’s Hongqiao airport, London’s Heathrow, and Atlanta’s Hartsfield Jackson have all announced deployments or enhancements of existing passenger processing systems based on facial recognition technology.” Acuity Market Intelligence is pointing to deployments of biometric passenger processing technology announced this week at three major airports as validation of the market research firm’s predictions about the rise…

Chinese AI Startups Overtake US Firms in VC Backing: Report

Chinese AI Startups Overtake US Firms in VC Backing: Report

Chinese AI startups have now overtaken their American counterparts in attracting investment, according to a new report from ABI Research. The report asserts that China-based AI firms raised $5 billion in venture capital in 2017, compared to $4.4 billion raised by firms in the US. Notably, the Chinese firms raised $4.9 billion from 19 investments,…

Major Growth Coming for Voice and Speech Recognition Market

Major Growth Coming for Voice and Speech Recognition Market

“Clinical documentation in the healthcare market will be a leading driver going forward, Tractica says – good news for companies like Nuance Communications, which is already gaining a foothold with its Dragon Medical platform. “ Tractica is predicting some major growth for the voice and speech recognition market over the next several years. The market…

Apple Pay Has 252 Million Users And Counting: Loup Ventures

Apple Pay Has 252 Million Users And Counting: Loup Ventures

About 31 percent of active iPhone users are also using Apple Pay, Apple’s biometrically secured digital payments platform, according to a new estimate from Loup Ventures. And the firm predicts this number will rise substantially. In a new post on its website, the investment firm says Apple will lead the charge for digital wallets more…

Biometrics Market on Track to Hit $41.8 Billion by 2023

Biometrics Market on Track to Hit $41.8 Billion by 2023

The biometrics market will grow from a value of $16.8 billion this year to $41.8 billion by 2023, according to a new forecast from MarketsandMarkets. The growth will reflect a CAGR of 19.99 percent for the forecast period. The government sector will be the key driver of the overall market’s growth, according to a report…

BRIEF: The Face ID Effect

BRIEF: The Face ID Effect

When Apple revealed its Face ID system for user authentication with its launch of the iPhone X last autumn, many wondered whether the mobile industry would shift away from fingerprint recognition and to facial recognition for user authentication. Several months later, it’s not clear that fingerprint recognition is going anywhere – that technology is still…