Voice verification biometrics gaining popularity

May 2, 2006 2:57 PM

Increasing return on investment (ROI) and effective transactional authentication are attracting investment in the voice verification biometrics markets around the world, research firm Frost and Sullivan reports.
Vendors of these solutions must proactively establish a clear demarcation between speech recognition and speech verification products and thus provide greater clarity, the report adds.
The report, "World Voice Verification Biometrics Markets," reveals that revenues in these markets totaled $31.6 million in 2004 and projects to reach $533.7 million in 2011.
"The increasing acceptance of voice verification biometric technologies, along with remote authentication applications is widening the deployment of these solutions," says Frost and Sullivan analyst Sapna Capoor.
While other technologies -- especially biometric ones -- do offer competition, voice verification biometrics' reliability for remote verification is anticipated to have a catalytic effect on the compound annual growth rate (CAGR) rising 50 percent from 2004 to 2011.
The technological penetration is projected to span across many geographic areas.
Visit www.frost.com for more information.

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