The global market value of the face and voice biometric market was USD 1.9 billion in 2022, with a CAGR of 9.8% predicted during the forecast period. The growing demand for robust fraud detection and prevention systems in the banking, financial services, and insurance industries, as well as the need to cut authentication and identity costs, are driving the global adoption of biometrics.

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Impact of Covid-19
COVID-19 has had a substantial impact on the market because of the necessity to reduce physical contact, increasing demand for touchless biometric identification technologies like as face and voice recognition. With the transition to remote work and rising digitization across industries, there is a growing demand for safe and convenient authentication solutions, which is driving the adoption of face and voice biometrics.
Growth Drivers
With growing concerns about data breaches and identity theft, enterprises are turning to biometric solutions as a more secure alternative to traditional password-based systems. Advances in facial and voice recognition algorithms, combined with hardware upgrades such as high-resolution cameras and microphones, increase biometric system accuracy and dependability. The increased use of smartphones and other mobile devices has driven biometric authentication for device unlocking, payment authorization, and application access, resulting in a demand for face and voice recognition technologies.
The most significant advantage of biometric authentication is that it eliminates the need to remember passwords or carry physical tokens. This convenience element is boosting adoption across a variety of industries, including banking, healthcare, and retail. The integration of biometric authentication with internet of things devices and artificial intelligence systems is enabling new applications and use cases, including smart homes, connected cars, and tailored health care. Increased usage of biometrics reduces fraud detection and prevention while increasing operational efficiency.
Segmentation
Components
· Solutions
· Services
Type
· Active Voice Biometrics
· Passive Voice Biometrics
Authentication Process
· Automated IVR
· Agent-assisted
· Mobile Applications
· Employee Authentication
Deployment Mode
· On-Premises
· Cloud
Organization Size
· Large Enterprises
· Small and Medium Size Enterprises
Application
· Authentication and Customer Verification
· Transaction Processing
· Access Control
· Workforce Management
· Risk and Emergency Management
· Fraud Detection and Prevention
· Forensic Voice Analysis, and criminal detection
· Others Vocal Passphrase, and Personalized User Experience
Regional Outlook
· Asia Pacific
· North America
· Latin America
· Europe
· Middle East and Africa
Key Players
· Element
· Trust Stamp
· Kaizen Secure
· Any Vision
· Pindrop
· Lexis Nexis Risk solutions
· Nuance
· Aculab
· Auraya
· Uniphore
· Sestek
· Voicepin
· Phonexia
· HYPR
· QSS Technosoft
· Voxta
· Other Players

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