Voice verification and face biometrics market sees 24 billion near term


Leading Analyst PMR Projects the Face Voice Biometrics Market to Exceed 24 Billion dollars (US) in 2026Boston, Massachusetts. (July 5,2018) – Frances M. Lynch, CEO of THC Technologies Corporation (THC), a private corporation engaged in the global biometrics solutions market said, “We are delighted to see our market and sales experiences particularly in the US and Canada mirrored in recent PMR studies.

THC's VoiceVantage™ technology is recognized as a world leader in voice authentication software and products that capture and analyze human voiceprints for identification purposes, security, fraud prevention and numerous other applications particularly in the banking and government markets.”

Persistence Market Research (PMR) recent study states, by the end of 2025, the global market for face & voice biometrics will have reached a value of US$ 24 Billion. Security related factors 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.

Another recent PMR study stated, “The U.S. is anticipated to be the most attractive market in the North America face and voice biometric market throughout the course of the forecast period in terms of value. However, Canada should witness a high CAGR of 15.8% during the study period. In 2016, the U.S. face and voice biometric market alone was already worth nearly US$ 1.7 Bn and this should show steady growth in revenue terms until the end of 2025. The government segment is predicted to be the most attractive segment by end use industry in the North America face and voice biometric market and was valued at just under half a billion US dollars in 2016. Market forecasts indicate a steady growth of the government segment over the assessment period in the North America region with a CAGR of 14.7% in terms of value from 2017 to 2025.” PMR research is available at www.persistencemarketresearch.com

Further information on THC and VoiceVantage™ biometrics voice verification technology can be found below and, on our website, www.voicevantage.com.

All VoiceVantage™ products provide the following features and benefits:

Multi-Layered Security: VoiceCheck™ technology provides two-factor authentication – something they are and something they know.

Convenient: Voice has consistently been ranked as the least intrusive and least intimidating biometric technology.

Cost-Effective: VoiceCheck™ technology integrates with most existing infrastructures and uses existing communication devices.

Language Independent: VoiceCheck™ captures the voice characteristics necessary for future voiceprint comparison, regardless of the language, gender, or accent of the user.

Multiple Platforms: By using one centralized database of voiceprints for all platforms, enterprises can leverage their investment across many communication channels, such as web and telephony.

Real-Time Enrollment: The entire enrollment procedure takes less than one minute to complete. Users can then securely gain immediate access to an enterprise’s business applications and, Voice Verification takes place in 3-7 milliseconds.

Low Storage Requirements: The typical user enrollment process consists of multiple renditions of a voiceprint; and the resulting storage requirement is no more than approx. 20-30 Kbytes per user. Flexible Security Models: VoiceCheck™ technology offers adjustable security threshold settings that can be controlled and modified by an enterprise to align with the enterprise’s own security standards.

Highly Scalable Server Platform: The VoiceVantage™ software is highly scalable via conventional industry standard relational databases. VoiceCheck™ is compatible with ODBC compliant databases.