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 biometric 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 Global Voice Biometrics Market Research Report provides a brief overview inclusive of the competitive landscape and key developments, policies, manufacturing costs, and processes. The report also provides the analysis of import/export, production and consumption ratio, supply and demand, cost, price, estimated revenue, and gross margins. The report further discusses in detail the driving factors influencing the growth of the market currently and in the coming years.
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The report also discusses key players involved in the market, such as Verint, Nuance Communications, Pindrop, Acculab, NICE, Phonexia, Auraya, VoicePIN, LumenVox, and SESTEK, among others as well as new entrants in the market. The competitive analysis also includes regional analysis of major geographical regions. The report covers regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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)
Training and Education
Support and Maintenance
Deployment and Integration
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
Organization Size Outlook (Revenue, USD Billion; 2017-2027)
Small and Medium-Sized Enterprises
Deployment Type Outlook (Revenue, USD Billion; 2017-2027)
Industry Vertical Outlook (Revenue, USD Billion; 2017-2027)
Retail and eCommerce
Government and Defense
Banking, Financial Services, and Insurance
Telecommunications and IT
Highlights of the TOC:
- Report Overview
1.1 Research Scope
1.2 Key Voice Biometrics market segments
1.3 Major players
1.4 Market analysis by product
1.5 Market analysis by application
1.6 Report timeline
- Global Growth Trends
2.1 Global Voice Biometrics market size
2.2 Latest Voice Biometrics market trends
2.3 Key growth trends
- Competitive Landscape
3.1 Global Voice Biometrics market key players
3.2 Global Voice Biometrics size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Voice Biometrics market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances
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