market trends

Identity Verification Market Driven by Digital Onboarding Demand

Identity Verification Market Driven by Digital Onboarding Demand

Goode Intelligence has published a new White Paper that highlights the importance of secure digital identity verification. Titled “The Digital Identity Problem – Solving the issue of trust,” the free paper suggests that reliable verification is essential because enterprises need to know the identities of their customers in order to safely do business with those…

Speech and Voice Recognition Market to Hit $31.83 Billion by 2025

Speech and Voice Recognition Market to Hit $31.83 Billion by 2025

A new report from Grand View Research predicts that the market for speech and voice recognition tech will hit $31.82 billion by 2025. The rising demand for voice-activated virtual AI assistants is expected to drive much of that growth, leading to a CAGR of 17.2 percent. The banking, automotive, and healthcare sectors are expected to…

Get Ready For The Digital Identity Services Market Boom

Get Ready For The Digital Identity Services Market Boom

The demand for digital identity and document verification services is expected to skyrocket as the technology continues to improve. At least, that’s the takeaway from a new report from Goode Intelligence, which predicts that the market for such tech will hit $15 billion by 2024. According to the report, identity and document verification is so…

New Report Forecasts Booming Identity Verification Market

New Report Forecasts Booming Identity Verification Market

MarketsandMarkets has released a new report that predicts that the market for identity verification tech will more than double from $6 billion in 2019 to $12.8 billion by 2024, with a CAGR of 16 percent. The rising demand for reliable identity verification solutions and services is expected to drive much of that growth as companies…

Comprehensive Visiongain Report Forecasts Big Decade for Facial Recognition

Comprehensive Visiongain Report Forecasts Big Decade for Facial Recognition

Visiongain has released a new report on the facial recognition market, analyzing a number of different variables to create a comprehensive forecast for the next ten years. The outlook is positive for those in the industry. The report evaluated the market at $4.6 billion in 2019, and expects that figure to grow as the demand…

Aluf Will Focus on Biometrics and Blockchain with New Board, M&A Strategy

Aluf Will Focus on Biometrics and Blockchain with New Board, M&A Strategy

Aluf Holdings is turning its attention to biometrics and blockchain, and has appointed a new Board of Directors to oversee the transition. “Biometrics is disruptive, transformative, and revolutionary,” said incoming Aluf Vice Chairman Ben Zandi. “We’re going to be the ones that bring that to market.” To do so, the holding company will be pursuing a…

Fingerprint Biometrics Market to See Solid Growth Through 2023: ABI Research

Fingerprint Biometrics Market to See Solid Growth Through 2023: ABI Research

Despite the rise of facial recognition in smartphones, the fingerprint sensor market will continue to see substantial growth over the coming years, according to a new market forecast from ABI Research. The firm predicts that the fingerprint sensor market will see 1.26 billion shipments this year, and that this ties into a predicted CAGR of…

US-China Trade War, Apple Hinder Goodix Growth: Exec

US-China Trade War, Apple Hinder Goodix Growth: Exec

The US-China trade war is slowing growth in the mobile biometrics market, suggest comments made by a senior Goodix executive at the latest Mobile World Congress. Speaking to the Nikkei Asian Review, Goodix CTO and COO Pi Bo said, “Under the current conditions, it has become very unlikely for Chinese tech companies like us to…

Users Happy to Trade Personal Data for Convenience and Security: Report

Users Happy to Trade Personal Data for Convenience and Security: Report

People are more than happy to share their personal data, just as long as they’re getting something in return.  That’s the main takeaway from Experian’s Global Identity and Fraud Report, which found that growing privacy concerns have not soured people on the overall potential of the digital experience. The vast majority (90 percent) of consumers are…

Voice Recognition Market Expected to Hit $15.5B by 2029: IDTechEx Research

Voice Recognition Market Expected to Hit $15.5B by 2029: IDTechEx Research

Voice recognition technology has been commercially available since Radio Rex hit store shelves in the 1920s, but it is only in the past decade that it started making serious inroads into the consumer market. The latest research suggests that trend will continue in the next ten years.   A new report from IDTEchEx Research suggests…

APAC Mobile Biometrics Market Undergoing ‘Strong Growth’: Frost & Sullivan

APAC Mobile Biometrics Market Undergoing ‘Strong Growth’: Frost & Sullivan

“Key driving factors include growing adoption in mobile banking applications, collaborative innovations, updating smart devices, and, of course, security concerns.” As the mobile biometrics revolution continues, the APAC market will play an important role in driving growth, suggests Frost & Sullivan. Announcing a new report focused on the APAC region, the market research firm asserts…

Behavioral Biometrics Market to Reach $3.9B by 2025: Report

Behavioral Biometrics Market to Reach $3.9B by 2025: Report

The behavioral biometrics market is really going to come into its own over the next several years, suggests a new report from Allied Market Research. The firm estimates that the global behavioral biometrics market was valued at about $720.5 million in 2017, and that it will reach a whopping $3.922 billion by the year 2025.…

Mobile Biometric Payments On the Ascent in Latest Goode Forecast

Mobile Biometric Payments On the Ascent in Latest Goode Forecast

“This trend is part of the larger mobile biometrics boom, with Goode Intelligence forecasting in its report that mobile biometric payments will amount to $1.67 trillion per annum by the end of the forecast period.” Mobile payments are going to keep climbing as the mobile biometrics boom continues to unfold in the world of financial…

Fingerprint Cards Bets On ‘Cool’ Factor for Biometric Cards in China

Fingerprint Cards Bets On ‘Cool’ Factor for Biometric Cards in China

Fingerprint Cards is betting on biometric payment cards becoming the next cool way to pay in China. In a post on its website, the Swedish company notes that mobile payments have taken off in a big way in China, thanks in large part to the enormous popularity of smartphones in the culture. Not only Apple…

Survey Research Finds Many UK Consumers Ready for Biometric Cards

Survey Research Finds Many UK Consumers Ready for Biometric Cards

Survey data collected by German market research firm GfK suggests that consumers in the UK are warming to the idea of using biometric payment cards. Based on online polls of 821 cardholders in the country conducted in late May and early June, the research found that 54 percent of respondents said they would get a…

Acuity’s Airport Automation Predictions Validated by New Biometric Deployments

Acuity’s Airport Automation Predictions Validated by New Biometric Deployments

“Shanghai’s Hongqiao airport, London’s Heathrow, and Atlanta’s Hartsfield Jackson have all announced deployments or enhancements of existing passenger processing systems based on facial recognition technology.” Acuity Market Intelligence is pointing to deployments of biometric passenger processing technology announced this week at three major airports as validation of the market research firm’s predictions about the rise…

Voice and Speech Recognition Market to Reach $6.9B by 2025: Tractica

Voice and Speech Recognition Market to Reach $6.9B by 2025: Tractica

“Clinical documentation in the healthcare market will be a leading driver going forward, Tractica says – good news for companies like Nuance Communications, which is already gaining a foothold with its Dragon Medical platform. “ Tractica is predicting some major growth for the voice and speech recognition market over the next several years. The market…

Biometrics Market to Grow from $16.8B to $41.8B by 2023

Biometrics Market to Grow from $16.8B to $41.8B by 2023

The biometrics market will grow from a value of $16.8 billion this year to $41.8 billion by 2023, according to a new forecast from MarketsandMarkets. The growth will reflect a CAGR of 19.99 percent for the forecast period. The government sector will be the key driver of the overall market’s growth, according to a report…

BRIEF: The Mainstreaming of Face ID

BRIEF: The Mainstreaming of Face ID

When Apple revealed its Face ID system for user authentication with its launch of the iPhone X last autumn, many wondered whether the mobile industry would shift away from fingerprint recognition and to facial recognition for user authentication. Several months later, it’s not clear that fingerprint recognition is going anywhere – that technology is still…

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