Global Face Voice Biometrics Market Size, Trends, Analysis - Forecasts to 2026 By Technology (Face Biometrics, Voice Biometrics), By Type (Conventional, Mobile), By End User Industry (Banking, Financial Services & Insurance (BFSI), Government, Law Enforcement, Military & Defence, Healthcare, Commercial, IT & Telecom, Others [Industrial, Manufacturing, Gaming, Hospitality]), By Region (North America, Europe, Asia Pacific, Middle East & Africa, and Central & South Africa) and Competitive Landscape
Face Voice Biometrics is a system where the adopted technology recognizes a person without any actual physical contact. This technology matches the person’s image and voice with stored data and information from the system. This technology uses cameras and voice recorders to compare the person with the stored data. Face Voice Biometrics market has gained much importance and demand in recent years. This system recognizes the identity of an individual from the previously stored information and uniqueness. Factors like increasing security risks promotes the need for face voice biometrics. Other factors like increasing demand from the commercial sector, integration of biometrics in payment and banking services, incorporation of face voice biometrics in customer service applications, increasing internet-based business/e-commerce industry, advancement in Artificial Intelligence (AI), and implementations in public administrations are the drivers propelling the growth of the market.
Based on technology, this market is split into voice and face biometrics. The face biometric technology has showcased its dominance in this market over the past few years. Face Biometric is estimated to trend upwards in the forecast period. Face biometrics has a high potential in enabling high security and recognition capacity due to the integration of 2D and 3D systems. Such reasons have attracted demand from emerging industries.
The Face Voice Biometric market is categorized into two types, the conventional type, and the mobile type. The market has experienced higher demands for conventional type compared to mobile. The demand from the corporate and commercial sector has given more weightage to the conventional type of face voice biometrics.
The end-user industry of Face Voice Biometrics has increased tremendously and has spread out between various sectors. The end-user industries include Banking, Financial Services & Insurance (BFSI), Law Enforcement, Government, IT & Telecom, Military & Defence, Commercial, IT & Telecom, Others. It is estimated that the government will hold the highest share of the face voice biometric market. The increased need for security to execute confidential issues and the safety of prominent government leaders/bodies has led to the increased demand for face voice biometrics. Although, the industries like Military & Defence as well as Banking, Financial Services & Insurance (BFSI) also showcase a fast growth rate in the face of the voice biometrics market.
Based on the region, North America holds the highest position in the face voice biometric market. The investment done by the government in this region is exceptionally high compared to the governments in the other regions. However, the APAC region is predicted to show fast growth in this market. Countries like China, the second-largest growing economy, is predicted to account for fast growth, resulting in the overall growth of the face voice market within the APAC region. The government of countries in this region are encouraging heavy investment. The need for higher security and authenticity has compelled governments to adapt face voice biometric technologies. The increasing awareness about technological changes among the commercial sector of the APAC region is also leading to the fast growth of this market.
Apple, Inc., Atos SE, NEC Corporation, 3M Cogent, Inc, Cognitec Systems GmbH, Morpho (Safran), ImageWare System, Inc., Nuance Communications, Inc., FaceFirst, and M2SYS Technologies among others, are the major vendors competing in the market.
Please note: This is not an exhaustive list of companies profiled in the report.
In April 2017, Innovatrics s.r.o., provider of the biometric solution entered into a strategic agreement with the Civil Registry of Panama, to record changes in personal information by using face voice biometrics.
In May 2018, Nuance Communications took over Voicebox Technologies and utilized its components of voice recognition and language technologies.
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The Global Face Voice Biometrics Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Face Voice Biometrics Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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