Face and Voice Biometrics Market Growth, Trends, Size, Demand, Revenue and Future Outlook
Face and Voice Biometrics Market Size- By Type, By Technology, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Feb-2024 | Report ID: IACT2426 | Pages: 1 - 231 | Formats*: |
| Category : Information & Communications Technology | |||
Face and Voice Biometrics Market Introduction and Overview
According to SPER Market Research, the Global Face and Voice Biometrics Market is estimated to reach USD 60.88 billion by 2033 with a CAGR of 21.41%.
The report includes an in-depth analysis of the Global Face and Voice Biometrics Market, including market size and trends, product mix, Applications, and supplier analysis. With a face-voice biometric system, a person can be recognized by the technology without ever making physical contact. This technology compares a person's voice and image to information from the system and stored data. This technology compares the individual with the stored data using cameras and voice recorders. The market for face-voice biometrics has grown significantly in importance and demand in recent years. This system determines a person's identity based on their uniqueness and previously stored data. Face-voice biometrics are becoming more and more necessary due to factors like growing security risks.
- 2021: The most recent version of Auraya's voice biometric ArmorVox 17.9.2 was released. It was equipped with extraordinary, enhanced features, as well as extra biometric scoring choices, in order to identify and stop fraudulent activity.
- 2021: Aculab has integrated with the ForgeRock Trust Network platform to enable rapid user identification and verification through distinctive voiceprints. Aculab's AI-driven voice biometric solutions will enable ForgeRock customers to experience a password-free experience.
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Market Opportunities and Challenges
Opportunities- The demand for voice and face biometrics has increased due to the rise of online transactions and e-commerce. These biometric systems are thought to be more dependable and safe than smartcards, PINS, or passwords. Voice biometrics will be used in the future to handle issues related to user security, enabling secure communication with digital assistants for bill payment purposes or the bank. Spanish banks like BBVA are actively implementing voice-enabled interfaces, like "Blue," to enable customers to interact with their systems, utilize their services, and authenticate themselves.
Challenges- The need for reliable and practical biometric authentication methods has grown due to the rise in online transactions and e-commerce payments. Thus, issues with sensitive data privacy and the storage of so much personal data are becoming a major problem for companies in the face and voice biometrics market or service providers.
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Market Competitive Landscape
Due to the small number of well-established companies offering secure, scalable face and voice biometric services, the market as a whole is highly consolidated. However, in recent years, new regional players have emerged as a result of growing concerns expressed by many national governments regarding data storage and privacy. Some of the key players are –Atos SE, Apple Inc., Cognitec Systems GmbH, FaceFirst, ImageWare Systems Inc., NEC Corporation, Nuance Communications, Inc., Morpho (Safran), M2SYS Technologies.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By Technology , By End User |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | BP PLC, Exxon Mobil Corporation, Gazprom Neft PJSC, Neste Oyj, Repsol SA, Royal Dutch Shell PLC, Total SA. |
COVID-19 Impact on Global Face and Voice Biometrics Market
Because people are growing weary of touch, the COVID-19 pandemic has gained popularity in biometrics, especially in contactless biometrics. Robust digital authentication and fraud prevention have become critical as long as businesses are operating remotely. Simultaneously, mask use is reducing the accuracy of facial recognition biometrics. Voice has therefore become a useful authentication method. Voice biometric systems record a person's unique voice characteristics, such as cadence, rhythm, inflexion, tempo, sound pattern, and rhythm, as a "Voiceprint." In order to prevent voice verification, the generated voiceprint is encrypted and stored. Because voice biometric technology is more accurate, easier to use, and has lower execution costs than ever before, it is poised to revolutionize the industry.
Key Target Audience
- Consumers
- Enterprises and Corporate Organizations
- Financial Institutions
- Healthcare Industry
- Retail and E-commerce
- Smart Cities and IoT
- Others
Our in-depth analysis of the Face and Voice Biometrics Market includes the following segments:
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Key Topics Covered in the Report
- Global Face and Voice Biometrics Market Size (FY’2023-FY’2033)
- Overview of Global Face and Voice Biometrics Market
- Segmentation of Global Face and Voice Biometrics Market By Type (Conventional and Mobile.)
- Segmentation of Global Face and Voice Biometrics Market By Technology (Face Biometrics and Voice Biometrics.)
- Segmentation of Global Face and Voice Biometrics Market By End User (Banking, Commercial Uses, Financial Services and Insurance, Government Departments, Healthcare Services, IT & Telecom Companies, Law Enforcement Agencies and Military and Defense Sector.)
- Statistical Snap of Global Face and Voice Biometrics Market
- Expansion Analysis of Global Face and Voice Biometrics Market
- Problems and Obstacles in Global Face and Voice Biometrics Market
- Competitive Landscape in the Global Face and Voice Biometrics Market
- Impact of COVID-19 and Demonetization on Global Face and Voice Biometrics Market
- Details on Current Investment in Global Face and Voice Biometrics Market
- Competitive Analysis of Global Face and Voice Biometrics Market
- Prominent Players in the Global Face and Voice Biometrics Market
- SWOT Analysis of Global Face and Voice Biometrics Market
- Global Face and Voice Biometrics Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Face and Voice Biometrics Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Face and Voice Biometrics Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Face and Voice Biometrics Market
7. Global Face and Voice Biometrics Market, By Type (USD Million)
7.1. Global Face and Voice Biometrics Market Value Share and Forecast, By Type, 2023-20337.2. Conventional7.3. Mobile
8. Global Face and Voice Biometrics Market, By Technology (USD Million)
8.1. Global Face and Voice Biometrics Market Value Share and Forecast, By Technology, 2023-20338.2. Face Biometrics8.3. Voice Biometrics
9. Global Face and Voice Biometrics Market, By End User (USD Million)
9.1. Global Face and Voice Biometrics Market Value Share and Forecast, By End User, 2023-20339.2. Banking9.3. Commercial Uses9.4. Financial Services and Insurance9.5. Government Departments9.6. Healthcare Services9.7. IT & Telecom Companies9.8. Law Enforcement Agencies9.9. Military and Defense Sector
10. Global Face and Voice Biometrics Market Forecast, 2019-2033 (USD Million)
10.1. Global Face and Voice Biometrics Market Size and Market Share
11. Global Face and Voice Biometrics Market, By Type, 2019-2033 (USD Million)
11.1. Global Face and Voice Biometrics Market Size and Market Share By Type (2019-2026)11.2. Global Face and Voice Biometrics Market Size and Market Share By Type (2027-2033)
12. Global Face and Voice Biometrics Market, By Technology, 2019-2033 (USD Million)
12.1. Global Face and Voice Biometrics Market Size and Market Share By Technology (2019-2026)12.2. Global Face and Voice Biometrics Market Size and Market Share By Technology (2027-2033)
13. Global Face and Voice Biometrics Market, By End User, 2019-2033 (USD Million)
13.1. Global Face and Voice Biometrics Market Size and Market Share By End User (2019-2026)13.2. Global Face and Voice Biometrics Market Size and Market Share By End User (2027-2033)
14. Global Face and Voice Biometrics Market, By Region, 2019-2033 (USD Million)
14.1. Global Face and Voice Biometrics Market Size and Market Share By Region (2019-2026)14.2. Global Face and Voice Biometrics Market Size and Market Share By Region (2027-2033)14.3. Asia-Pacific
14.3.1. Australia14.3.2. China14.3.3. India14.3.4. Japan14.3.5. South Korea14.3.6. Rest of Asia-Pacific
14.4. Europe
14.4.1. France14.4.2. Germany14.4.3. Italy14.4.4. Spain14.4.5. United Kingdom14.4.6. Rest of Europe
14.5. Middle East and Africa
14.5.1. Kingdom of Saudi Arabia14.5.2. United Arab Emirates14.5.3. Rest of Middle East & Africa
14.6. North America
14.6.1. Canada14.6.2. Mexico14.6.3. United States
14.7. Latin America
14.7.1. Argentina14.7.2. Brazil14.7.3. Rest of Latin America
15. Company Profile
15.1. Atos SE
15.1.1. Company details15.1.2. Financial outlook15.1.3. Product summary15.1.4. Recent developments
15.2. Apple Inc.
15.2.1. Company details15.2.2. Financial outlook15.2.3. Product summary15.2.4. Recent developments
15.3. Cognitec Systems GmbH
15.3.1. Company details15.3.2. Financial outlook15.3.3. Product summary15.3.4. Recent developments
15.4. FaceFirst
15.4.1. Company details15.4.2. Financial outlook15.4.3. Product summary15.4.4. Recent developments
15.5. ImageWare Systems, Inc.
15.5.1. Company details15.5.2. Financial outlook15.5.3. Product summary15.5.4. Recent developments
15.6. NEC Corporation
15.6.1. Company details15.6.2. Financial outlook15.6.3. Product summary15.6.4. Recent developments
15.7. Nuance Communications, Inc.
15.7.1. Company details15.7.2. Financial outlook15.7.3. Product summary15.7.4. Recent developments
15.8. Morpho (Safran)
15.8.1. Company details15.8.2. Financial outlook15.8.3. Product summary15.8.4. Recent developments
15.9. M2SYS Technologies
15.9.1. Company details15.9.2. Financial outlook15.9.3. Product summary15.9.4. Recent developments
15.10. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Face and Voice Biometrics Market is projected to reach USD 60.88 billion by 2033, growing at a CAGR of 21.41% during the forecast period.
Face and Voice Biometrics Market grew in Market size from 2022. The Market is expected to reach USD 60.88 billion by 2033, at a CAGR of 21.41% during the forecast period.
Face and Voice Biometrics Market CAGR of 21.41% during the forecast period.
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Face and Voice Biometrics Market size is USD 60.88 billion from 2023 to 2033.
Face and Voice Biometrics Market Segment is covered By Type, By Technology , By End User.
The North America is anticipated to have the highest Market share in the Face and Voice Biometrics Market.
The key players in the Market include Companies Covered Atos SE, Apple Inc., Cognitec Systems GmbH, FaceFirst, ImageWare Systems Inc., NEC Corporation, Nuance Communications, Inc., Morpho (Safran), M2SYS Technologies.
This technology compares a person's voice and image to information from the system and stored data. This technology compares the individual with the stored data using cameras and voice recorders.
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