The global Voice Biometrics Market is forecasted to be worth USD 4.90 Billion by 2027, according to a new report by Emergen Research.
The market is witnessing high demand owing to the rise in advancement in software and hardware. Rapid urbanization and adoption of digital technology in industries like Telecommunications and IT, BFSI, Government, and Defense will drive the demand for the voice biometric. The proliferation of digital devices in everyday activities has created a need for advanced protection solutions. Some of the commonly used biometric technology are radio networks, mobile phones and landlines, virtual private networks, voice over IP networks, and microphones.
Voice biometrics is gaining traction owing to the high level of security they provide. They can be deployed in the mobile application as they provide safe authentication by means of a spoken password or passphrase. Voice biometric uses pitch, speech, range, and voice quality of a particular individual to permit usage.
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The primary aim of the report is to offer market overview, product scope, growth prospects, and risks. The report also offers in depth information about each player in the global Voice Biometrics market along with its global standing, financial status, product launch, business expansion plans among others. The market players are focused on developing various strategies such as partnerships, mergers and acquisitions, joint ventures, product launches, and research and development investments.
Companies profiled in the global Voice Biometrics market:
Verint, Nuance Communications, Pindrop, Acculab, NICE, Phonexia, Auraya, VoicePIN, LumenVox, and SESTEK, among others.
Key Highlights from the Report
LumenVox, in January 2020, launched an advanced suite of voice biometric authentication technologies, naming them Version 8. This technology implements AI and biometrics to authenticate customer-agent interaction.
The Access Control and Authentication dominated the market for voice biometrics. The high level of awareness among organizations regarding the confidentiality of their data and the need to protect from malware targeted cyber-attacks while using cloud computing services will drive the segment’s demand.
The cloud deployment type held the largest market share of 57.4% in the year 2019. The benefits provided by cloud-like data accessibility, quick implementation, lower cost, and 24×7 availability will foster the demand for voice biometrics.
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Emergen Research has segmented into the global Voice Biometrics Market on the basis of component, type, application, organization size, deployment type, industry vertical, and region:
Component Outlook (Revenue, USD Billion; 2017-2027)
Software
Services
Professional Services
Training and Education
Consulting
Support and Maintenance
Deployment and Integration
Managed Services
Type Outlook (Revenue, USD Billion; 2017-2027)
Passive Voice Biometrics
Active Voice Biometrics
Application Outlook (Revenue, USD Billion; 2017-2027)
Fraud Detection and Prevention
Access Control and Authentication
Forensic Voice Analysis and Criminal Investigation
Other
Organization Size Outlook (Revenue, USD Billion; 2017-2027)
Large Enterprises
Small and Medium-Sized Enterprises
Deployment Type Outlook (Revenue, USD Billion; 2017-2027)
Cloud
On-Premises
Industry Vertical Outlook (Revenue, USD Billion; 2017-2027)
Retail and eCommerce
Government and Defense
Banking, Financial Services, and Insurance
Telecommunications and IT
Healthcare
Others
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Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Regional Outlook of Voice Biometrics Market:
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
U.A.E.
South Africa
Rest of MEA
Key Features of the Voice Biometrics Market Report:
The report offers details about key drivers, restraints, opportunities, challenges, growth prospects, limitations, and threats
The report encompasses details about the key companies, product portfolio along with specifications, production valuation, and market shares
Evaluation of key current and emerging market trends and growth prospects
It also offers research-backed estimations for the forecast period of eight years, primarily to estimate the potential market growth
Brief overview of industry with regards to research and development, technological advancements, and product development
In-depth assessment of upstream raw materials, downstream buyers, demands, and current market scenario
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Thank you for reading our report. Please get in touch with us if you have any queries regarding the report or its customization. Our team will ensure the report is best suited to your needs.
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