Press release
Voice Biometrics Market is projected to reach USD 5.93 Billion by 2030 : Cognitive Market Research
Voice Biometrics Market is projected to reach USD 5.93 Billion by 2030 : Cognitive Market Research
- What is Voice Biometrics?
Voice Biometrics refers to the technology that uses unique voice characteristics to identify and authenticate individuals. Voice biometrics technology involves analyzing a person's voice patterns, such as tone, pitch, and accent, to establish their identity. This technology is used in various applications, including secure access control, fraud prevention, and identity verification. The market for voice biometrics includes software, hardware, and services that are used to implement the technology. It is a rapidly growing market, driven by the increasing need for secure authentication solutions in various industries, including banking, healthcare, and government.
Summary:
- The Voice Biometrics Market size was valued at USD 1.76 Billion in 2022 and will reach USD 5.93 Billion by 2030 and is expected to grow at a CAGR of 22.7% during the forecast period (2023-2030).
"To know more about The Voice Biometrics Market statistics click here: https://www.cognitivemarketresearch.com/voice-biometrics-market-report
Market Dynamics:
• Voice Biometrics Market Drivers:
Voice biometrics technology provides a high level of security and accuracy in identifying and authenticating individuals, making it an attractive option for organizations seeking to prevent fraud and secure access to sensitive information. These several factors eventually boost the market growth.
The growing popularity of voice assistants such as Siri and Alexa is driving demand for voice biometrics technology for the authentication of these devices and security significantly drives the market growth.
• Voice Biometrics Market Opportunities:
Voice biometrics technology can be integrated with other technologies, such as artificial intelligence, machine learning, and natural language processing, to enhance the accuracy and reliability of the authentication process.
Also, there is potential for the development of new use cases for voice biometrics technology, such as secure authentication for smart homes and automobiles, as well as for voice-enabled devices in the Internet of Things (IoT) ecosystem will further open new opportunities for the market.
• Voice Biometrics Market Restraints:
The lack of standardization in the voice biometrics industry has resulted in a fragmented market with different vendors offering varying solutions. This can make it challenging for organizations to choose a solution that meets their needs and may hamper the market growth.
Voice Biometrics Market Segmentation Analysis:
Component
• Solutions
• Services
Type
• Active Voice Biometrics
• Passive Voice Biometrics
Authentication Process
• Automated IVR
• Agent-Assisted
• Mobile Applications
• Employee Authentication
Industry Vertical
• BFSI
• Retail & E-commerce
• Government & Defense,
• IT & Telecom
• Healthcare & Life Sciences
• Transportation & Logistics
• Travel & Hospitality
• Energy & Utilities
• Others (Manufacturing, Education, Media, and Entertainment).
Based on industry verticals, healthcare & life sciences have the leading segment in the voice biometrics market. The healthcare and life sciences vertical's market size is expected to expand at the highest CAGR over the forecast period. Sensitive data must be protected by law in order to encourage the deployment of voice biometrics in the healthcare and life sciences sectors.
Deployment Mode
• On-premises
• Cloud
Application
• Authentication & Customer Verification
• Forensic Voice Analysis & Criminal Investigation
• Fraud Detection & Prevention
• Risk and Emergency Management
• Transaction Processing
• Access Control
• Workforce Management
• Others (Speech Therapy, Vocal Passphrase, and Personalized User Experience).
The Major Players in Voice Biometrics Market are:
Nuance Communications, NICE, Verint, Phonexia, Pindrop, AimBrain, Voice Biometrics Group, Aculab, Auraya, Uniphore
Get free sample pages of the latest published Voice Biometrics Market Report:
https://www.cognitivemarketresearch.com/voice-biometrics-market-report#request_sample
Voice Biometrics Market Regional Analysis:
• Asia Pacific accounted for the largest share of the voice biometrics market
Asia Pacific has the largest revenue share in the voice biometrics market. The highest CAGR will be projected for APAC during the forecast period. The demand for better security is rising as a result of the need to stop illicit activity from fueling market expansion in APAC.
Browse here for Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
• 1.1 Global Voice Biometrics Industry Introduction
• 1.2 Objectives of the Study
• 1.3 USP of the Report
• 1.4 Who is this report for?
• 1.5 Designing of Market Scope
1.5.1 Voice Biometrics Market Segmentation
1.5.1 Voice Biometrics Market Regional Fragmentation
1.5.1 Voice Biometrics Market Players
• 1.6 Report Duration
• 1.7 List of Stakeholders
Chapter 2 Research MethodologyReview Complete Research Methodology
Chapter 3 Executive Summary of Voice Biometrics Market
Chapter 4 Global Voice Biometrics Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
• 5.1 Global Voice Biometrics Market Revenue and Share by Manufacturers (2018-2022)
• 5.2 Global Voice Biometrics Industry Mergers and Acquisition Analysis
• 5.3 Global Voice Biometrics New Launches Analysis
• 5.4 Company Categorization
• 5.5 Global Voice Biometrics Top Winning Strategies, by Manufacturers (2018-2022)
Chapter 6 Environmental, Social, and Governance (ESG) Analysis
Chapter 7 Qualitative Analysis
Chapter 8 Company Profiling (Subject to Availability)
Chapter 9 Global Voice Biometrics Market by Type Segmentation Analysis (2018-2030)
Chapter 10 Global Voice Biometrics Market by Application Segmentation Analysis (2018-2030)
Chapter 11 Global Voice Biometrics Market by Component Segmentation Analysis (2018-2030)
Chapter 12 Global Voice Biometrics Market by Authentication Process Segmentation Analysis (2018-2030)
Chapter 13 Global Voice Biometrics Market by Deployment Mode Segmentation Analysis (2018-2030)
Chapter 14 Global Voice Biometrics Market by Industry Vertical Segmentation Analysis (2018-2030)
Chapter 15 Global Voice Biometrics Market Regional Analysis
Chapter 16 North America Voice Biometrics Market Outlook (2018 - 2030)
Chapter 17 Europe Voice Biometrics Market Outlook (2018 - 2030)
Chapter 18 Asia Pacific Voice Biometrics Market Outlook (2018 - 2030)
Chapter 19 Latin America Voice Biometrics Market Outlook (2018 - 2030)
Chapter 20 Middle East and Africa Voice Biometrics Market Outlook (2018 - 2030)
Chapter 21 Research Findings
Customize the Report Edition (Is applicable, On Request, Subject to Data Available, At an Additional Cost)
To know more about Voice Biometrics Market TOC click here: https://www.cognitivemarketresearch.com/voice-biometrics-market-report#table_of_contents
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𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
20 N State Street,Chicago,
Illinois, 60602
United States
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Email: sales@cognitivemarketresearch.com
Website: https://www.cognitivemarketresearch.com/about-us
About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operating across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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