Voice Biometrics Market Huge Growth Prospect till 2026 | Nuance Communications, NICE, Verint, Phonexia, Pindrop, AimBrain

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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Major market player included in this report are:

Nuance Communications
NICE
Verint
Phonexia
Pindrop
AimBrain
Voice Biometrics Group
Aculab
Auraya
Uniphore

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.

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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.
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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This release was published on openPR.