Global Payments Reports
Face and Voice Biometrics Market to 2025
Revenue from the government end use industry segment in the global face and voice biometric market was valued at US$629.7 million in 2012 and US$1,152.0 million in 2016, representing a CAGR of 16.3% from 2012 to 2016. The government segment is slated to witness an increase in revenue from close to US$1.7 billion in 2017 to more than US$6 billion 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 billion between 2017 and 2025.
Foreign 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.
(June 2017/Persistence Market Research)
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