Voice Biometrics Market To Reach USD 3.91 Billion By 2026 with CAGR 23.5% | Google, Facebook, Amazon, Apple, Nuance Communications, NICE, AimBrain, Voice Biometrics Group, Verint

According to the current analysis of Reports and Data, the global Voice Biometrics Market was valued at USD 0.69 Billion in 2018 and is expected to reach USD 3.91 Billion by the year 2026, at a CAGR of 23.5%. The study provides an overall insight into the factors responsible for the growth in the Voice Biometrics market. Owing to rising urbanization and digitalization across the world, end-user sectors like BFSI, Government and Public Sectors and IT & Telecom have experienced growth and now rely on technology-driven systems to operate upon.

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Key participants include Google, Facebook, Amazon, Apple, Nuance Communications, NICE, AimBrain, Voice Biometrics Group, Verint, OneVault, LumenVox, Phonexia, Uniphore, VoicePIN, Auraya, LexisNexis Risk Solutions Sestek, VoiceVault, Inc, Raytheon Company.

This has made these sectors prone to hackers which target the valuable information and resources being used in these sectors. Voice Biometrics market is expected to grow because of this factor as biometrics used as credentials involve the use of unalterable, robust, and thorough algorithms to verify users.

The major driving factors for the voice biometrics market include increasing complexity of cyber-attacks, creating a need for a stronger defense system. Additionally, the advent of advanced technologies such as AI ML, cloud computing and Data Analytics, and the increasing demand for preserving healthcare and financial data will create significant opportunities for the vendors of in the voice biometrics market. The applications in the voice biometrics market include forensic voice analysis, access security, payments, and others.

Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the Voice Biometrics market on the basis of Application, component type, deployment type, size type, end user industry and region:

Application (Revenue in USD Million; 2016-2026)
o Forensic Voice Analysis
o Access Security
o Authentication and Fraud detection
o Customer Verification
o Payments
o Transaction Processing
o Speech enabled password reset
o Others (Vocal Passphrase etc.)

Component type (Revenue in USD Million; 2016-2026)
o Software
o Services

Deployment type (Revenue in USD Million; 2016-2026)
o On-Premises
o Cloud

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Size type (Revenue in USD Million; 2016-2026)
o Large Enterprises
o Small and Medium Scale Enterprises

End User Industry (Revenue in USD Million; 2016-2026)
o Government
o Banking and Finance
o Consumer Electronics
o Healthcare
o Transport/Logistics
o Defence & Security
o Others

Further key findings from the report suggest
o The market is growing at a CAGR of 23.8% in the Asia Pacific, followed by North America and Europe, with 23.6% and 23.5% CAGR, respectively.
o Global digitalization and modernization and the advent of technologies like the Internet of Things have increased the number of interface points through numerous smart electronic devices like smartphones, tablets, and laptops which is expected to increase the use of Voice Biometrics and expand its market size.
o The Access security segment is expected to register the highest CAGR of 23.7% owing to high awareness among enterprises regarding maintaining the confidentiality of their data as well as countering cyber-attacks and malware targeted at their data while using cloud computing services
o The voice forensic deployment on the cloud is increasing due to the several benefits offered by the cloud such as quick implementation, reduced operating cost, 24X7 availability, data accessibility, scalability and usability
o Due to modernization, rising standards of living, and increasing per capita GDP, the Banking and Financial sector has risen steadily. Many publicly and privately-owned banks have been set-up across the globe to aid the masses financially. BFSI segment is expected to occupy the largest share in the Voice Biometrics market.
o Governments are investing in Voice Biometrics to help modernize and secure the state-run services, which generate a large amount of revenue. Furthermore, biometrics are also used by Governments to maintain secrecy and confidentiality in internal affairs and workings.

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Reasons to buy this market intelligence report:
Detailed market evaluation both at regional and global levels.
Significant changes in market scenario, along with an extensive competitive analysis
Classification of the industry based on product type, application, and region
Market segments segregated on the basis of type, application, and geography
Comprehensive analysis of the historical data and contemporary market scenario to infer industry size, volume, share, growth, and sales
Investigation of significant developments in the market dynamics
Market segments and regions

In conclusion, the Voice Biometrics Market report is a reliable source for accessing the Market data that will exponentially accelerate your business. The report provides the principal locale, economic scenarios with the item value, benefit, supply, limit, generation, request, Market development rate, and figure and so on. Besides, the report presents a new task SWOT analysis, speculation attainability investigation, and venture return investigation.

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