Voice Biometrics Market Outlook, Industry Demand and Supply, Key Prospects, Pricing Strategies
- elizabethsanchez28
- Aug 31, 2021
- 4 min read
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 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.
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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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.
· North America held the largest market share of voice biometrics. The region is prone to several sophisticated cyber-attacks owing to the presence of influential financial sectors, tech companies, and the profitable telecommunication industry. There is a high demand for efficient technology for the protection of their data and financial information.
· Key participants include Verint, Nuance Communications, Pindrop, Acculab, NICE, Phonexia, Auraya, VoicePIN, LumenVox, and SESTEK, among others.
The report further sheds light on the broad geographical fragmentation of the global Voice Biometrics market, as well as various market segments and sub-segments categorized into product types, applications, and end-users. The regional overview in the global market report comprises the market size, value, share, volume, and cost analysis related to each region.
· Component Outlook (Revenue, USD Billion; 2017-2027)
o Software
o Services
1. Professional Services
§ Training and Education
§ Consulting
§ Support and Maintenance
§ Deployment and Integration
2. Managed Services
· Type Outlook (Revenue, USD Billion; 2017-2027)
o Passive Voice Biometrics
o Active Voice Biometrics
· Application Outlook (Revenue, USD Billion; 2017-2027)
o Fraud Detection and Prevention
o Access Control and Authentication
o Forensic Voice Analysis and Criminal Investigation
o Other
· Organization Size Outlook (Revenue, USD Billion; 2017-2027)
o Large Enterprises
o Small and Medium-Sized Enterprises
· Deployment Type Outlook (Revenue, USD Billion; 2017-2027)
o Cloud
o On-Premises
· Industry Vertical Outlook (Revenue, USD Billion; 2017-2027)
o Retail and eCommerce
o Government and Defense
o Banking, Financial Services, and Insurance
o Telecommunications and IT
o Healthcare
o Others
The report begins with basic information about the market, such as definitions, applications, classifications, value chain analysis, among others, to facilitate a better understanding among the readers. The market offers a panoramic view of the industry through a thorough analysis of the key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Detailed Analysis of the Regions of the Voice Biometrics Market Include Regions such as:
· North America (U.S., Canada)
· Europe (U.K., Italy, Germany, France, Rest of EU)
· Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
· Latin America (Chile, Brazil, Argentina, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Full Coverage of the Report:
l The authors of this report have performed qualitative and quantitative assessments of the global Voice Biometrics industry and further conducted market estimation for the forecast years of 2020-2027.
l The report assesses the global Voice Biometrics market in detail, focusing on the technological advancements, various industry verticals, distribution channels, diverse product types, and the broad application outlook.
l A wide-ranging analysis of the global Voice Biometrics market’s geographical scenario is an integral part of the report.
l In the conclusive section, the report discusses the company profiles of the key market players at length. This section takes a closer look at the financial positions, recent trends and developments, product offerings, and business expansion tactics of the market contenders.
Table Of Content:
Chapter 1. Methodology & Sources 1.1. Market Definition 1.2. Research Scope 1.3. Methodology 1.4. Research Sources 1.4.1. Primary 1.4.2. Secondary 1.4.3. Paid Sources 1.5. Market Estimation Technique Chapter 2. Executive Summary 2.1. Summary Snapshot, 2019-2027 Chapter 3. Key Insights Chapter 4. Voice Biometrics Market Segmentation & Impact Analysis 4.1. Voice Biometrics Market Material Segmentation Analysis 4.2. Industrial Outlook 4.2.1. Market indicators analysis 4.2.2. Market drivers analysis 4.2.2.1. Increasing Demand for Robust Fraud Detection 4.2.2.2. Need for Reducing Authentication and Identification Costs 4.2.3. Market restraints analysis 4.2.3.1. Security and Privacy Issues With New Advanced Technologies 4.3. Technological Insights 4.4. Regulatory Framework 4.5. Porter’s Five Forces Analysis 4.6. Competitive Metric Space Analysis 4.7. Price trend Analysis 4.8. Covid-19 Impact Analysis
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