Advancements in Global Voice Biometric Solutions Market Anticipated to Display Remarkable CAGR and Value Growth US$ 13,049.2 Mn by 2026

Voice biometric solutions are the safest and most sophisticated ways to verify a customer's identity. In the present time, demand for voice biometric solutions is increasing exponentially due to the advanced features offered by these solutions. Market Research Hub (MRH) has freshly publicized a study titled “Voice Biometric Solutions Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026” to its online repository, which analyzes and forecasts the voice biometric market at the global and regional level. To provide accurate results, the market has been forecasted based on revenue (US$ Mn) and volume (thousand units) from 2018 to 2026.

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The biometric techniques are emerging as a key force in addressing the security problems in an effective manner. In recent years, there has been a substantial need for technological solutions in biometric technology due to its advanced features which helps in enhancing authentication and verification solutions. This is likely to create strong demand for voice biometric solutions in the near future. According to the study key projections, the global voice biometric solution market is expected to reach a value of US$ 13,049.2 Mn by 2026 on account of growing adoption of voice biometric solutions and biometric technology across various industries. Rising at this pace, the market is projected to expand at a CAGR of 17.3% during the forecast period of 2018-2026.

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In this study, an in-depth overview of voice biometric solutions covering introduction, Porter's five forces analysis, PESTEL analysis, market dynamics, and comparative analysis of biometric solution. The geographical segmentation is also encompassed in the report which analyzes the scope of the market in different regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. It has been analyzed that vendors across these regions are investing in the development of advanced technology for providing authentication solutions. Some of the major findings from the report include-

From a geographical standpoint, the study reveals that the market in the Asia Pacific and Europe is likely to present strong growth opportunities during the forecast period due to a rise in investments in the biometric industry and business expansion of vendors across the region.
At present, some of the prime drivers of the voice biometric solutions market are increase in the penetration voice biometric solutions, rise in investments in research and development of technological inventions, and adoption of biometric technology.
In the coming years, voice biometric solutions are projected to revolutionize many sectors of the economy, including business, healthcare, social networks, environmental monitoring, and transportation. The study has been categorized on the basis of solution, application and end-user. In terms of end-user, the market covers automotive, IT & telecom, consumer electronics, banking financial services and insurance (BFSI), retail and others. Of these, the banking financial services and insurance (BFSI) segment is anticipated to hold a prominent market share during the forecast period.
In the end, the research provides vital information about the key players operating in the sector, such as Agnitio SL., VoiceVault, Bioid Ag, VoicePass Technology, VoiceTrust Ag., Voice Biometrics Group Limited, Nuance Communications, ValidSoft, OneValult, Gemalto N.V, VoiceTrust Holding BV., Ltd, Qualcomm Technologies, Inc., Auraya Systems, and Verint Systems.

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This release was published on openPR.