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Voice Biometrics Market to Witness Huge Growth by Key Players: Nuance, NICE, Verint, Pindrop, LexisNexis Risk Solutions, Phonexia, VBG and more
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The global voice biometrics market size to grow from USD 1.1 billion in 2020 to USD 3.9 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 22.8% during the forecast period.
The voice biometrics market is expected to witness a minor slowdown in 2020 due to the global lockdown. The COVID-19 pandemic has increased the churn rate and shuddered almost every industry. The lockdown is impacting global manufacturing, and supply chains and logistics as the continuity of operations for various sectors are badly impacted. The sectors facing the greatest drawbacks are manufacturing, transportation and logistics, and retail and consumer goods.
Top Key Players Profiled in the Voice Biometrics Market:
• Nuance (US)
• NICE (Israel)
• Verint (US)
• Pindrop (US)
• LexisNexis Risk Solutions (US)
• Phonexia (Czech Republic)
• VBG (US)
• Aculab (UK)
• Auraya (Australia)
• OneVault (South Africa)
• Aware (US)
• SpeechPro (US)
• LumenVox (US)
• Uniphore (India)
• SESTEK (Turkey)
• VoicePIN (Poland)
• QSS Technosoft (India)
• Voxta (India) Interactions (US)
• ID R&D (US)
• Kaizen Secure Voiz (US)
• HYPR (US)
• Element (US)
• Trust Stamp (US)
• AnyVision (Israel)
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"The services segment is expected to grow at a higher CAGR during the forecast period"
The global voice biometrics market has been segmented by component. The component segment is further categorized into solutions and services. Based on the solutions segment, the market is divided into platform and software. The services segment is further divided into managed services and professional services.
"The active voice biometrics segment to grow at a higher CAGR during the forecast period"
The global voice biometrics market is segmented on the baisis of type into into active voice biometrics and passive voice biometrics. The active voice biometrics segment is expected to at a higher CAGR during the forecast period.
"The mobile applications segment to grow at a higher CAGR during the forecast period"
The global voice biometrics market by authentication process is segmented into automated IVR, agent-assisted, mobile applications, and employee authentication. The market size of the mobile applications segment is expected to grow at the highest CAGR during the forecast period.
"The transaction processing segment to grow at a higher CAGR during the forecast period"
The global voice biometrics market by applications is segmented into authentication and customer verification, forensic voice analysis and criminal investigation, fraud detection and prevention, risk and emergency management, transaction processing, access control, workforce management, and others (speech therapy, vocal passphrase, and personalized user experience).
"Among verticals, the healthcare and life sciences segment to grow at the highest CAGR during the forecast period"
The voice biometrics market is segmented into the various verticals, particularly verticals, such as BFSI, retail and eCommerce, government and defense, IT and telecom, healthcare and life sciences, transportation and logistics, travel and hospitality, energy and utilities, and others (manufacturing, education, and media and entertainment).
Breakdown of primary participants’ profile:
• By Company: Tier I: 34%, Tier II: 43%, and Tier III: 23%
• By Designation: C-Level Executives: 50%, Directors: 30%, and Others: 20%
• By Region: North America: 25%, APAC: 30%, Europe: 30%, MEA: 10%, and Latin America: 5%
Reason to access this report:
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall voice biometrics market and its sub segments. It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies.
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