Face and Voice Biometrics Market is Projected to Grow at a Healthy CAGR During 2015 - 2021

Facial and voice acknowledgment technologies can recognize identity of an individual even without any direct contact between the system and the person. This is conventionally done by taking or capturing a sample of image or voice of the individual using cameras and voice recorders. Voice recognition systems are developing into a conventional commercial user acknowledgement technology, achieving substantial level of adoption in a wide range of customer interactive applications.

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Biometrics assists in authenticating the identity of an individual through physiological or behavioral distinctiveness. More precisely, conventional verification methods such as magnetic cards, passwords, keys and personal identification cards are weak towards any threat and can be stolen without much effort. Biometrics technology acknowledges an individual by analyzing his fingerprints, DNA, face, iris, signature, typing rhythm, etc. and extends a simple and secure authentication.

The boom in Internet-based businesses such as online banking, coupled with growing need for accurate verification while accessing various accounts, has rendered biometrics technology a highly convenient and simple solution. Features associated with the technology include measurable, universal, permanent and uniqueness. These factors ensure high level of information security and therefore assist in market growth.

The major drivers for the market include growth in E-Passport Program, government support, biometrics in smart phones, use of biometric technology in banking and healthcare, extensive use in criminal identification, use of biometric technologies in election administration and growing need for large scale supervision at public meetings. Key challenges for market growth include fear of privacy intrusion and high cost of systems. Substantial opportunities for face and voice biometrics system will arise in the e-commerce and cloud computing space for biometrics technology. Interoperability of biometrics system is one of the major burning issues in the market, in addition to the long time frame for implementation.

The market is segmented by end-user and geography. The various end users include banking and financial firms, government, consumer electronics, defense, healthcare, home security and safety, transport and logistics, visa authentication services, commercial safety and security, and others. The others segment includes retail, hospitality, automobile and gaming. Geographically, the market is segmented into North America, Europe, Asia-Pacific (APAC) and Rest of the World (RoW). Face recognition methods can be segmented as traditional method, 3D face recognition skin texture analysis and facial thermogram. Traditional method of face recognition includes face recognition using Eigen Faces and face recognition using Line Edge Map.

Biometric technologies in the public sector have continued to exist in spite of the debt crisis in Europe. This is primarily a result of most governments in the European Union to put into operation Biometric IDs for citizens. These range from biometric passports to biometric national identification cards. Thus, as Europe shifts its attention towards international business, biometrics is bound to play key role in trade facilitation as it will upgrade the operational security and optimize trade flows. Potential of adoption of biometric technology and services thus remains high in international trade and commercial shipping sectors.

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Key players in the market include 3M Cogent Inc., BIO-Key International Inc., Cognitec Systems GmbH, DigitalPersona Inc., Fujitsu Limited, IDTECK, IrisGuard Inc., Morpho SA, Daon Inc., NEC Corporation, Lumidigm Inc., Accu-Time Systems Inc., Siemens AG, RCG Holdings Ltd., and Suprema Inc.

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