The face and voice biometric market was estimated to be worth USD 1.9 billion globally in 2022, and over the course of the forecast period, a CAGR of 9.8% is anticipated. Global biometric adoption is being driven by the need to lower authentication and identity costs and the growing need for reliable fraud detection and prevention systems in the banking, financial services, and insurance sectors.

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Growth Drivers
Organizations are shifting from traditional password-based systems to biometric solutions as a more secure approach in response to growing concerns about identity theft and data breaches. Biometric systems are becoming more accurate and dependable because to advancements in hardware, including high-resolution cameras and microphones, as well as advancements in facial and voice recognition algorithms. The demand for face and voice recognition technology has increased due to the growing use of smartphones and other mobile devices, which has spurred biometric authentication for device unlocking, payment authorization, and application access.
The primary benefit of biometric authentication is that it does away with the requirement for physical tokens or password memory. Adoption is being fueled by this convenience factor in a number of sectors, including retail, finance, and healthcare.
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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