Increasing Security Threats Drives the Global Market for Face and Voice Biometrics, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Face and Voice Biometrics market. Global market for Face and Voice Biometrics is projected to reach US$2.9 billion by the year 2018, primarily driven by growing security concerns especially against the backdrop of increasing terrorist attacks, racial and ethnic disturbances, campus violence, random shootouts, riots, burglary, and physical assaults.

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Face and Voice Biometrics: A Global Strategic Business Report

San Jose, California (PRWEB) February 01, 2013

Follow us on LinkedIn – Unlike other technologies such as vein pattern scanning, fingerprint identification or hand geometry, all of which demand individuals to be identified to make some contact with the reader or the system, facial and voice recognition technologies can establish an individual’s identity even without any established contact between the person and the system, just by capturing image or voice samples of the person with the help of cameras and voice recorders respectively. The non-intrusive features of these technologies give it an edge over other biometric modalities. Thanks to several success stories from government and commercial implementations, face and voice biometric technologies are now being well accepted in the field of Information Security. Voice biometrics is especially poised to succeed in this space. Having proven its worth in password reset application for years in enterprise IT help desk and customer care operations, voice recognition systems are evolving into a mainstream commercial user authentication technology, achieving significant adoption in a range of customer-facing applications.

In Europe, biometric technologies in the public sector, until now, have fairly survived the debt crisis largely as a result of most EU governments’ regional agenda to implement Biometric IDs for citizens ranging from biometric based passports to biometrics based national IDs. Driving interest in these national agendas is the ability of these programs to strengthen cross border security and control fraud. Cultural and economic development in all countries across the globe depends upon an open border. The said need is especially pronounced in Europe keeping in view the fact that the continent has one of the largest and most open trade platforms. Trade ranks as one of the most important drivers of employment creation and economic growth and strengthening of trade condition is imperative to ensuring competitiveness of EU in the global market, especially at a time when its economy is undergoing its toughest financial challenge ever.

As Europe turns its focus to international trade, biometrics is poised to play an instrumental role in trade facilitation by enhancing operational security and optimizing trade flows, which is imperative for continuous economic growth and prosperity. Adoption potential of biometric solutions therefore remains high in commercial shipping and international trade. The emphasis on curbing illegal immigration is now even higher in Europe as a result of the ongoing debt crisis, given the magnitude of annual costs incurred by governments in supporting immigrant population. As governments seek to reduce their fiscal loads, unwarranted expenditure incurred on illegal immigrants is coming under the scanner, and biometrics is emerging into a prime beneficiary in the given scenario.

On the flip side, consumer, residential, and enterprise biometrics, which are largely used for physical access control is however feeling the heat of the debt crisis. In the United States, the ongoing futile debt ceiling negotiations and the still hanging thereat of sequestration cuts is injecting uncertainty, especially in the military biometrics space where sequestration cuts can rip US defense budgets and bring in changes in defense budget priorities. The scenario can bring changes in the market prospects for portable biometric devices, such as those utilized by overseas military troops to verify terrorist profiles and identify detainees in war zones and access control biometrics for accessing military base and campuses, by reducing defense equipment procurement budgets.

In the upcoming years, as the BRIC countries slowdown highlighting the popping of the BRIC bubble, the CIVETS countries are poised to emerge into the next cluster of developing markets to turbo-charge future growth in the market. Characterized by burgeoning economies, increase in foreign investments, fast paced urbanization, rise in new business establishments, presence of large relatively untapped private security markets and increase in crime rates, CIVETS is forecast to witness increased adoption of security systems, particularly biometric technologies like face and voice biometrics.

As stated by the new market research report on Face and Voice Biometrics, the US continues to remain the largest regional market accounting for a majority share in global sales. Asia-Pacific currently is the fastest growing regional market with sales in the region waxing at a CAGR of about 28.5% over the analysis period. Face Biometrics represents the fastest growing product segment with sales waxing at a CAGR 19% over the analysis period.

Major players in the global marketplace include 3M Cogent, AcSys Biometrics Corp., Cognitec Systems GmbH, Eurotech S.P.A, Ivrnet Inc., Kimaldi Electronics, S.L., National Security Resources, NEC Corporation of America, Neurotechnology, Nuance Communications, Inc., PSP Security Co., Ltd., SAFRAN Group, Sensible Vision, Sensory Inc., Suprema Inc., and VoiceVault Inc., among others.

The research report titled “Face and Voice Biometrics: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for global face and voice biometrics market in US$ for all major geographic markets such as the US, Canada, Europe (France, Germany, UK and Rest of Europe), Asia-Pacific, Middle East, and Latin America.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Face_and_Voice_Biometrics_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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