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.
A surge in urbanization, an increasing number of cyberattacks, and the emergence of technologies such as machine learning and artificial intelligence is driving the market demand.
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.
The growing incidence of complex cyber-attacks is creating a need for a stronger defense system. Moreover, the emergence of innovative technology such as machine learning, artificial intelligence, data analytics, cloud computing will provide the market for voice biometric with growth opportunities. This technology is applicable in access security, forensic voice analysis, payments, and others. The growing importance of secrecy and confidentiality is driving the demand for the voice biometrics market.
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Competitive Landscape and Voice Biometrics Market Share Analysis
The report elaborates on various national and international business development prospects and explains the competitive landscape of the global Voice Biometrics market. The market size estimation and forecasts have been detailed in this report. The authors have studied the historical background of the Voice Biometrics market, keeping in mind the organic and inorganic growth prospects and threats for the market. Thus, the latest report offers precise estimates of the global market size for the forecast period.
The major companies Covered in the report are:
Verint, Nuance Communications, Pindrop, Acculab, NICE, Phonexia, Auraya, VoicePIN, LumenVox, and SESTEK.
Highlights of Global Voice Biometrics Market Report
- Examines the Voice Biometrics industry prospects and quickly compares historical, current, and projected market figures.
- This report examines growth constraints, market drivers and challenges, and current and prospective development prospects.
- Key market participants are evaluated based on various factors, including revenue share, price, regional growth, and product portfolio, to demonstrate how market shares have changed in the past and are expected to change in the future.
- Describes the expansion of the global high purity isobutylene market across various industries and geographies. This allows players to concentrate their efforts on regional markets with the potential for rapid growth shortly.
- Discuss the global, regional, and national ramifications of COVID-19.
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The report comprises an exhaustive overview of the Voice Biometrics market, focusing on its leading players and their lucrative business expansion initiatives. It provides the reader with essential conclusive data and information concerning the Voice Biometrics market’s growth, assessed on both regional and global levels. Hence, the sample copy of the ‘Global Voice Biometrics Market’ research report is inclusive of a brief analysis of the Voice Biometrics industry, the competitive landscape, regional overview, technological innovation, and future market developments, which are based on a practical research methodology.
Segments Covered in this report are:
- Component Outlook (Revenue, USD Billion; 2017-2027)
- Professional Services
- Training and Education
- Support and Maintenance
- Deployment and Integration
- Professional Services
- 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
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The report also provides an extensive analysis of the key market elements, such as drivers, constraints, opportunities, limitations, threats, and micro and macro-economic factors. The exhaustive SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis included in the report are intended to help the reader tactfully formulate business growth strategies. Strategic recommendations for the established market players assist them in fortifying their financial positions in the market.
The global Voice Biometrics market has been categorized into several important geographical regions. In this section, authors of the report have studied the presence of the global Voice Biometrics market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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