Commerce. Calling cards. Bank online. Voice Mail. Bank-by-phone. Email. Network access. Desktop Security. Cell phones. PDAs. In today's world, being securely connected is key to survival. The need to protect and enable secure access to sensitive information, such as credit card numbers, medical records, and personal information, is increasing as more and more people do business from anywhere, at anytime. Biometric technologies have unlimited commercial uses due to their ability to improve enterprise security, eliminate password hassles, facilitate financial transactions, and more.
Biometric technology is the automated use of physiological or behavioral characteristics that uniquely define an individual. Biometric identities are difficult to lose, steal, copy, forge or falsely issue and cannot be borrowed. Some of the physiological and behavioral characteristics that biometric technologies measure include fingerprint, voiceprint, iris scan, and retina scan, among others.
Persistence Market Research's (PMR) recent 2020 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 2020, 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 2020, 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 2020. 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.