Voice Biometrics Market Share, Industry Trends, Statistics, Drivers, Demand, Key Companies by 2027
- elizabethsanchez28
- Sep 3, 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 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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Key Highlights From The Report
· 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 24x7 availability will foster the demand for voice biometrics.
· Key participants include Verint, Nuance Communications, Pindrop, Acculab, NICE, Phonexia, Auraya, VoicePIN, LumenVox, and SESTEK, among others.
For the purpose of this report, 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)
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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Key points covered in the report:
· The report provides the reader with a detailed study of the global Voice Biometrics market, including essential data beneficial for business.
· The prominent factors driving and restraining market growth, latest product trends, and technological advancements have been extensively discussed by the authors of the report.
· A broad market categorization, based on product type, application gamut, and end-user landscape, has been included in the report.
· It further entails the latest product development, incorporation of new techniques, and profiles of major competitors in the market.
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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