Next-gen biometric authentication market trends analysis report and forecast 2024-2031, with profiles of aware, fingerprint cards, idemia, m2sys technology, cardlogix & touchless biometric systems

Dublin, jan. 20, 2025 (globe newswire) -- the "next-gen biometric authentication market size, share & trends analysis report by component (software and services), by authentication type, by technology, by end user, by regional outlook and forecast, 2024 - 2031" report has been added to researchandmarkets.com's offering. the global next-gen biometric authentication market size is expected to reach $187.18 billion by 2031, rising at a market growth of 20.7% cagr during the forecast period. voice recognition technology analyzes vocal characteristics to authenticate users, offering a hands-free and convenient biometric authentication method. it is widely used in call centers, mobile banking, and smart home devices for voice command-based authentication. the voice recognition segment held 11% revenue share in the market in 2023. the technology's ability to integrate with natural language processing and ai capabilities has enhanced its utility and application scope. the rising adoption of voice-activated virtual assistants and the need for secure voice-based transactions have driven the growth of the voice recognition segment in the market. the major strategies followed by the market participants are partnerships as the key developmental strategy to keep pace with the changing demands of end users. for instance, in july, 2024, fingerprint cards ab announced a partnership with in groupe, a french company specializing in the production of secure documents, and launched a safe component for contactless biometric payment cards. this partnership aims to streamline production, improve reliability, and reduce costs, supporting global manufacturers in scaling next-generation card production for mass adoption. additionally, in november, 2023, idemia sas signed a partnership agreement with home team science and technology agency (htx), the science and tech arm of the ministry of home affairs, in singapore. under this partnership, the company will work with htx on research and development in biometrics and forensics technologies.
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