Face Voice Biometrics Market Size, Application, Region, Growth Forecast [ 2023 – 2033 ]
The demand for face and voice biometrics at critical checkpoints is continuing to be supported by the growing deployment of technology in homeland security. Even though limited access may be annoying for investigations, it is still incredibly advantageous for protecting everything, from riches to knowledge. Since its introduction, installing voice and facial biometrics in corporate settings has become standard practise.
Face & voice biometrics will soon be installed in public spaces like government buildings, making them the most sought-after technological solution for managing secured access to facilities. According to Persistence Market Research, the face and voice biometrics market would have grown to a value of US$24 billion by the end of 2025.
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Factors like these will keep promoting the adoption of voice and facial biometrics globally. The global market for face and voice biometric systems reached over US$ 4.5 billion in 2016. According to the most recent analysis from Persistence Market Research, “Face & Voice Biometric Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025),” the market would have grown at a remarkable 18.1% CAGR by the end of 2025.
Key drivers for growth in adoption of face & voice biometrics include:
- Implementation of biometrics in banking & payments: In Europe, banking organizations have made facial biometrics mandatory for customers accessing databases and other digital platforms. While banking employees continue to use face or voice biometrics for work, now, customers are also expected to log into their accounts via such solutions.
- Integrating voice biometrics with customer service management applications: A voice biometric solution that facilitates the customers to reset their account password at any point of time (quickly & securely over any telephone) is gaining traction in North America as employees can have historical knowledge of each customer, thereby leading to intelligent interactions.
- Implementation of biometrics in public administration: In densely-populated regions such as Asia-Pacific, face biometric solutions equipped with surveillance cameras, facial recognition software can improve public administration on light rails, buses, trains, docks and other public transit utilities. Face biometrics can assist authorities in monitoring train capacity, attending to medical emergencies and undertaking law enforcement vigilance such as capturing fare evaders or wanted criminals.
According to the report analysis, North America’s face and voice biometric market is expected to witness highest growth over the forecast period. Along with Asia-Pacific, North America’s face & voice biometric revenues are expected to account for over 66% of the global market revenues by 2017-end. Europe, on the other hand, is expected to witness moderate growth in its face & voice biometric market, which will be primarily backed by steady demand for face and voice biometrics in government offices, law enforcement facilities, and military & defense sector.
The report also forecasts that revenue from sales of face biometric solutions in the global market will witness a rise from US$ 4.6 Bn in 2017 to an estimated US$ 17.7 Bn by 2025-end. Meanwhile, biometric solutions developed on voice recognition technologies are projected to create incremental opportunity of US$ 4.5 Bn between 2017 and 2025. The report also reveals higher demand for conventional type of face & voice biometrics, as opposed to mobile.
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Governments will be the largest end-users of face & voice biometrics in the world, while revenues from military & defense and law enforcement agencies will register speedy growth at 19.6% CAGR during the forecast period. The report has also profiled leading developers of face & voice biometric solutions as key players in the global market, and they include
- 3M Cogent, Inc.
- Apple, Inc..
- NEC Corporation
- ImageWare System, Inc..
- Cognitec Systems GmbH
- Atos SE
- Morpho (Safran)
- Nuance Communications, Inc.
- FaceFirst
- M2SYS Technologies.
- Others.
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Face and Voice Biometric Market Taxonomy
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