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Face and Voice Biometrics Market Segmented By Face Biometrics, Voice Biometrics Technology in Conventional, Mobile Type
The government of different countries are known to play a vital role in establishing the prominence of the face voice biometrics market. The governing authorities of emerging economies are boosting the market growth by encouraging Foreign Direct Investment which ultimately improves the standard and infrastructure of the face and biometrics market. Growing adoption of these services in different industries such as the pharmaceutical industry and government offices are propelling the growth of the market ahead.
The government as an end-use segment is projected to create incremental growth opportunities in the market worth US$5Bn by the end of 2025. Research and development activities supported by the government play a vital role in determining the growth trajectory of these biometric services. Government collaborations to use biometrics against terrorism pacing way for a new trend in the market. Led by the US, North America is expected to contribute a huge chunk of revenue in the market.
The government segment in the region in forecasted to bolster the biometrics landscape with rapid growth. Major market players are entering into collaborations to expand their market presence. They are investing in solutions that offer biographic and biometric data in real-time. Prominent players profiled in the global market are Cognitec Systems GmbH, Apple, Inc., Nuance Communications, Inc., M2SYS Technologies., Atos SE, and Morpho (Safran).
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Revenue from the government end use industry segment in the global face and voice biometric market was valued at US$ 629.7 Mn in 2012 and US$ 1,152.0 Mn in 2016, representing a CAGR of 16.3% from 2012 to 2016.
According to forecasts by Persistence Market Research, the government segment is slated to witness an increase in revenue from close to US$ 1.7 Bn in 2017 to more than US$ 6 Bn by the end of 2025, representing a CAGR of 18.3% from 2017 to 2025. The government segment is projected to create incremental opportunity of a little less than US$ 5 Bn between 2017 and 2025.
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Get a Customized VersionForeign investors are indispensable in the growth of the face and voice biometric market. National governments – particularly in emerging economies – are offering opportunities to foreign direct investors to invest in improving the standards and infrastructure of face and voice biometrics.
High technology products that need a high R&D such as computers, electrical machinery, scientific instruments, and pharmaceuticals will come to rely on the face and voice biometric market in the days ahead. Countries to look out for in this space include China, South Korea, Singapore, Germany, and the U.S.
In April 2017, Innovatrics s.r.o., a biometrics solutions provider along with Veridos, Sertracen, and IECISA entered into an agreement with the Civil Registry of Panama. This contract was supervised by the Tribunal Electoral and is meant to register births, marriages, and deaths, and make a note of any changes in people’s personal information by relying on the face and voice biometrics market.
In 2016, Vision-Box, S.A agreed to conduct a pilot program for the Mato Grosso State Court of Justice with a biometric solution for improving criminal hearing personal identifications. Vision-Box is expected to deploy vb e-pass, an integrated system that considers both biometric and biographic data in real time.
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