DUBLIN, September 22, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Touchless Sensing Equipment Market 2016-2020" report to their offering.
The global touchless sensing equipment market to grow at a CAGR of 10.22% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global touchless sensing equipment market for 2016-2020. To calculate the market size, the report considers the revenue generated from unit shipments of equipment embedded with touchless sensing technologies.
The global touchless sensing equipment market is largely driven by increasing adoption of voice recognition technology and touchless sanitary ware. Voice recognition is used in a variety of applications such as automatic speech recognition, voice biometrics, automotive voice recognition, smartphones, and other smart devices.
Rise in demand for voice authentication will be a key trend for market growth. Voice authentication is being integrated into mobile banking due to the need for a strong verification process. In regions such as Western Europe and North America, many banking customers use phone banking facilities. Hence, most of these financial institutions are using voice-based authentication solutions to accept or reject mobile transactions by a user.
For instance, Nuance Communications' voice technology is being used by financial institutions such as Barclays Wealth, ING, and Santander. In addition, voice authentication in mobile devices provides strong security and is cost-effective. Hence, the trend of integrating voice authentication in mobile banking is expected to grow stronger over the years. Also, phone-based banking institutions are partnering with voice authentication vendors and the incorporation of voice metrics is becoming a key competitive advantage.
According to the report, rise in demand for touchless access control will be a key driver for market growth. Government and private organizations involved in highly sensitive operations such as the BFSI sector face major challenges because of the constant changes in compliance requirements and the adoption of advanced technologies such as the internet of things (IoT) and enterprise mobility. Touchless access control systems help these organizations to meet security, access management, password management, compliance, and access governance requirements.
Both government and private organizations are increasingly adopting touchless access control to improve operational performance in business areas such as risk management and fraud reduction. For instance, in the BFSI sector, the rise in a number of online transactions is leading to an increase in the cases of identity theft, data theft, card-related fraud, and insurance claim fraud. These factors drive the demand for access control in this sector.
- Nuance Communications
- 3M Cogent
- Crossmatch Technologies
- Iris ID
- Assa Alboy
- Boon Edam
- Dorma+Kaba Holdings
- Stanley Access Technologies
- Motekforce Link
- Honeywell Security
- Safran Identity and Security
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by technology
Part 07: Geographical segmentation
Part 08: Market drivers
Part 09: Impact of drivers
Part 10: Market challenges
Part 11: Impact of drivers and challenges
Part 12: Market trends
Part 13: Vendor landscape
Part 14: Key vendor analysis
Part 15: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/rgvkvz/global_touchless
Related Topics: Biometrics
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/research-and-markets---global-touchless-sensing-equipment-market-growth-at-1022-2016-2020---barclays-wealth-ing-and-santander-adopt-nuance-communications-voice-technology-300332583.html
SOURCE Research and Markets