Installation of the face and voice biometrics has been a common practice. According to the latest study by Persistence Market Research (PMR), with increasing adoption of technology and security, soon public places and government offices will be secured and equipped with face and voice biometrics.
New York City, NY -- (SBWIRE) -- 08/08/2017 -- The government segment is expected to exceed $6 billion revenue by 2025 end. It is anticipated to register 18.3% CAGR during 2017-2025. However, by 2025 end, face and voice biometric global market is projected to reach $24 billion value.
Facial biometrics system has been made mandatory by banking organizations in Europe. Banking employees are already using face and voice biometrics and now customers will also need login into their accounts using such system.
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Emerging economies are witnessing huge investments by foreign direct investors in improving the infrastructure of the security systems, especially in the face and voice biometrics. Moreover, the high-tech products such as scientific instruments, computers, etc. that need high research and development, are expected to depend on the face and voice biometrics. Some of the countries in this space are South Korea, China, Singapore, U.S. and Germany.
In regions such as Asia-Pacific which are densely-populated, face biometric solution can help to improve public transit utilities such as buses, trains, docks, etc. It can also help government authorities in monitoring whether the enforced law is being followed.
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Voice biometric solution is becoming popular in customer service management applications in North America. It facilitates customers to change or reset account password at anytime and anywhere. Leading to better communication between employees and customers.
The report indicates North America market is to have the highest growth in face and voice biometric market during 2017-2025. The revenue in this region is anticipated to reach 66% of global face and voice biometric market by the end of 2017. Europe will witness moderate growth, owing to the steady demand for face and voice biometric system by law enforcement services, government and defense & military sector. Canada is also expected to register 15.8% CAGR during 2017-2025.
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The government is said to be the largest user of face and voice biometric solution. While law enforcement organizations and defense & military sector are expected to register 19.6% CAGR during the forecast period.