Voice Biometrics Market Study Reveals Growth Factors and Competitive Outlook for Future

Global Voice Biometrics Market is valued approximately USD 0.7 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 23.70% over the forecast period 2019-2026. Voice biometrics or biometrics authentication uses unique biological characteristics for uniquely verifying user’s identity. Furthermore, biometric authentication is hard to spoof, and password cannot be easily lost or stolen. Increasing demand for fraud detection system to control cybercrime cases would fuel the market growth over the forecast period. For instance, as per Comparitech report in 2018, around 700 million people were affected by cybercrime, additionally, by 2021 cybercrime would cost around USD 6 trillion annually. Thus, rising cybercrimes and its related loss would fuel the market growth in the coming years.

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The regional analysis of global Voice Biometrics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the growing economies including United States and Canada. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as rising research and development in fraud detection system would create lucrative growth prospects for the Voice Biometrics market across Asia-Pacific region.

Major market player included in this report are:
Nuance Communications

NICE
Verint
Phonexia
Pindrop
AimBrain
Voice Biometrics Group
Aculab
Auraya
Uniphore
VoicePIN
LexisNexis Risk Solutions
LumenVox
OneVault
SESTEK

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Component:

Software
Services

By Application:

Access Control and Authentication
Fraud Detection and Prevention
Forensic Voice Analysis and Criminal Investigation
Others

By Type:

Active Voice Biometrics
Passive Voice Biometrics
By Organization Size:
Small and Medium-Sized Enterprises
Large Enterprises
By Deployment Model:
Cloud
On-Premises
By Industry Vertical:
Banking, Financial Services, and Insurance
Retail and eCommerce
Telecommunications and IT
Government and Defense

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By Region:

North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World

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This release was published on openPR.