Face and Voice Biometrics Market: Government incentives encouraging FDI 2025

Increasing adoption of technology in homeland security continues to promote the need for face & voice biometrics at necessary checkpoints. Restricted access might be displeasing for investigations, but entry to only authorized personnel continues to be a great advantage for securing everything – from wealth to wisdom. Installing face & voice biometrics in corporate settings has been a common practice since its inception. Going forward, government offices and public places will also be equipped with face & voice biometrics, making them the most sought-after tech solution for controlling a secured access to facilities. Persistence Market Research concurs that by the end of 2025, the global market for face & voice biometrics will have reached a value of US$ 24 Bn.

Factors as such will continue to promote the use of face & voice biometrics across the globe. In 2016, over US$ 4.5 Bn worth of face & voice biometric solutions were sold in the world. Persistence Market Research’s latest report, titled “Face & Voice Biometric Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025),” cites that by the end of 2025, the global face & voice biometrics market will have surged at a stellar 18.1% CAGR.

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Key drivers for growth in adoption of face & voice biometrics include:

Implementation of biometrics in banking & payments: In Europe, banking organizations have made facial biometrics mandatory for customers accessing databases and other digital platforms. While banking employees continue to use face or voice biometrics for work, now, customers are also expected to log into their accounts via such solutions.
Integrating voice biometrics with customer service management applications: A voice biometric solution that facilitates the customers to reset their account password at any point of time (quickly & securely over any telephone) is gaining traction in North America as employees can have historical knowledge of each customer, thereby leading to intelligent interactions.

Implementation of biometrics in public administration: In densely-populated regions such as Asia-Pacific, face biometric solutions equipped with surveillance cameras, facial recognition software can improve public administration on light rails, buses, trains, docks and other public transit utilities. Face biometrics can assist authorities in monitoring train capacity, attending to medical emergencies and undertaking law enforcement vigilance such as capturing fare evaders or wanted criminals.

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