 |
| NXT-ID’s 3D FaceMatch biometric identification systems will be added to VOBD's product line |
NXT-ID Inc. a biometrics company focused on the growing m-commerce market and its wholly owned subsidiary, 3D-ID, LLC, recently announced an agreement with Indian/U.S. technology company, Voice of Big data (VOBD), to distribute its patented 3D FaceMatch biometric facial recognition identification systems in India.
3D FaceMatch will be added to Voice of Big data's current Facial Signature product line as part of its security and intelligence division. The technology will be targeted to retail markets, law enforcement, airports, government agencies, public and private organizations, product development centers and offshore development centers.
Voice of Big data reported to fytimes.com in August that it will be the first company in India to launch 3D facial recognition technology in India.
It was recently chosen as one of the top 10 promising technology start-ups in India by Nasscom's Emerge; (ET Times October 25th). The fast growing company has 65 employees comprising 20 data scientists and anticipates hiring 80 more by the end of the year.
Mr. Gino Pereira, Chief Executive Officer of NXT-ID, Inc., said, "Clearly, this is another milestone in our history as we continue to make solid progress as we implement our growth strategy. We are delighted to be partnering with VOBD in such an exciting developing market. India is at the forefront of the biometric revolution and with our combined expertise in 3D facial recognition and the ability to analyze large amounts of data very quickly I believe we can contribute substantially to biometric adoption here."
Srinivas Kishan Anapu, CEO of VOBD, reiterated that "the partnership with NXT-ID is a major strategic milestone for Voice of Big Data in the R&D space and for implementation of facial recognition solutions across industries globally. Additionally we see a huge value addition to our customers especially in India."
3D FaceMatch facial imaging solutions provide government, law enforcement and security agencies with fast, precise, automated and low-cost solutions for biometrically-accurate imaging of human faces in three dimensions. By acquiring the shape of a subject's face, together with a perfectly registered image, FaceMatch technology enables dramatic performance enhancements in human identification systems ranging from manual photo ID verification to automated facial recognition.
The global facial recognition market is estimated to grow from $1.92 billion in 2013 to $6.5 billion in 2018 according to a report earlier this year by MarketsandMarkets. Analysts forecast the biometrics market in India to cross USD 2 Billion revenues by 2018.
