Global Voice Biometrics Market: Industry Analysis and Forecast (2018-2026)
Global Voice Biometrics Market was valued at US$ 745.2Mn in 2017 and is expected to reach US$ 3698.3Mn by 2026, at a CAGR of 22.17% during a forecast period.
Voice biometrics digitizes an individual’s voice to match it beside a stored voiceprint template. Acoustic features of an individual’s voice like cadence, pitch, and tone are compared to distinguish between individual voices. The voice verification systems need minimal hardware installation, as most PCs previously have a microphone and can authenticate individuals remotely for different transactions. Voice recognition biometrics are most expected to be deployed in telephone-based environments.
Growing the popularity among various sectors such as social networking, entertainment industry, cloud computing, and building security is one of the major factors accountable to drive the growth of the voice biometrics market globally. Additionally, huge demand for high-level security in the financial sector and rising public awareness are also expected to provide growth to the market. A major factor hampering the growth of the market are issues related to privacy and high cost.
Based on type, the passive voice biometrics segment is expected to grow at a higher CAGR during the forecast period owing to an increasing deployment by companies majorly in BFSI, retail and e-commerce, and telecommunications and IT verticals. Large enterprises have been showing a growing interest in the passive type of biometrics solutions.
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In terms of industry verticals, banking, financial services, and insurance vertical are estimated to account for the largest size in the voice biometrics market globally. Growing deployment of voice biometrics solutions has aided BFSI organizations to reduce frauds and other financial losses. Telecommunication and IT, and healthcare have achieved at ease accountability and greater transparency with the deployment of voice biometrics solutions.
Region-wise, North America is prominent the voice biometric solution market with more than 30% share globally. This is because of the increase in advance technologies for voice biometric solutions and also high penetration of biometric solutions in North America. Moreover, the strong presence of voice biometric solution providers through the region is contributing to the growth of the market. North America is contributing the highest share in the voice biometric solution market as the USA is considered as a highly developed country in terms of technological innovations and adoptions.
A recent development in the global voice biometrics market: NICE launched the Actimize Fraud Essentials Cloud solution to help medium-sized financial organizations in fraud management as the solution can be deployed quickly and is also cost-effective.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Voice Biometrics Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Voice Biometrics Market.
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Scope of the Global Voice Biometrics Market
Global Voice Biometrics Market, By Component
• Software
• Services
o Professional Services
Consulting
Training and Education
Deployment and Integration
Support and Maintenance
o Managed Services
Global Voice Biometrics Market, By Application
• Access Control and Authentication
• Fraud Detection and Prevention
• Forensic Voice Analysis and Criminal Investigation
• Others
Global Voice Biometrics Market, By Type
• Active Voice Biometrics
• Passive Voice Biometrics
Global Voice Biometrics Market, By Organization Size
• Small and Medium-Sized Enterprises
• Large Enterprises
Global Voice Biometrics Market, By Deployment Model
• Cloud
• On-Premises
Global Voice Biometrics Market, By Industry Vertical
• Banking, Financial Services, and Insurance
• Retail and eCommerce
• Telecommunications and IT
• Government and Defense
• Healthcare
• Others
Global Voice Biometrics Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in the Global Voice Biometrics Market
• Nuance Communications
• NICE
• Verint
• Phonexia
• Pindrop
• AimBrain
• Voice Biometrics Group
• Aculab
• Auraya
• Uniphore
• VoicePIN
• LexisNexis Risk Solutions
• LumenVox
• OneVault
• SESTEK
MAJOR TOC OF THE REPORT
Chapter One: Voice Biometrics Market Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Voice Biometrics Market Market Competition, by Players
Chapter Four: Global Voice Biometrics Market Market Size by Regions
Chapter Five: North America Voice Biometrics Market Revenue by Countries
Chapter Six: Europe Voice Biometrics Market Revenue by Countries
Chapter Seven: Asia-Pacific Voice Biometrics Market Revenue by Countries
Chapter Eight: South America Voice Biometrics Market Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Voice Biometrics Market by Countries
Chapter Ten: Global Voice Biometrics Market Market Segment by Type
Chapter Eleven: Global Voice Biometrics Market Market Segment by Application
Chapter Twelve: Global Voice Biometrics Market Market Size Forecast (2019-2026)
Browse Full Report with Facts and Figures of Voice Biometrics Market Market Report at: https://www.maximizemarketresearch.com/market-report/global-voice-biometrics-market/30022/
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