Voice Biometrics Market Segments, Opportunity, Growth and Forecast by End-use Industry 2023 - 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Voice Biometrics Global Market Report 2023 identifies an increase in the frequency of cyber-attacks as the major driver for the Voice Biometrics market's growth in the forecast period. The increase in incidence of cyber-attacks is expected to propel the growth of the voice biometrics market going forward. Incidence of Cyber-attacks in voice biometrics refers to an event that jeopardizes the confidentiality, integrity, or availability of digital information from a computer, computing system, or computer network with the intent to cause damage. As technology advances, the frequency and complexity of cyber-attacks and malware encountered while using internet-driven technologies has increased, necessitating the use of stronger biometric definition systems in addition to usernames and passwords, resulting in an increased demand for voice biometrics.

The global voice biometrics market size is expected to grow from $1.55 billion in 2022 to $1.9 billion in 2023 at a compound annual growth rate (CAGR) of 22.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The voice biometrics market size is expected to grow to $4.16 billion in 2027 at a CAGR of 21.6%.

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Major competitors in the Voice Biometrics market are Nuance Communications Inc., Aculab, Auraya System, NICE Systems Ltd., OneVault, Pindrop Security, Verint Systems, Speech Technology Center

A key trend in the Voice Biometrics market includes technological advancement. Major companies operating in the voice biometrics market are focused on developing technologically advanced solutions to strengthen their market position. For instance, in November 2020 NICE Ltd., an Israel-based software company launched an innovative new solution, ENLIGHTEN Fraud Prevention, for automatic and continuous fraudster detection and exposure. By bringing together NICE ENLIGHTEN's comprehensive Customer Engagement AI platform with the company's voice biometrics capabilities, the solution would scan millions of calls to accurately pinpoint suspicious behaviour and uncover previously unidentified fraudsters. It would also reduce fraud losses and handling time while protecting consumers and improving their experience.

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The Voice Biometrics market is segmented -
• By Type: Passive Voice Biometrics, Active Voice Biometrics
• By Component: Solution, Services
• By Deployment: Cloud, On-Premise
• By Application: Authentication And Customer Verification, Forensic Voice Analysis And Criminal Investigation, Fraud Detection And Prevention, Transaction Processing, Access Control, Workforce Management
• By End-User: BFSI, Government, Telecommunication, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Voice Biometrics market.

The Business Research Company's "Global Voice Biometrics Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Voice Biometrics Market Include:
1. Executive Summary
2. Voice Biometrics Market Characteristics
3. Voice Biometrics Market Trends And Strategies
4. Voice Biometrics Market - Macro Economic Scenario
5. Voice Biometrics Market Size And Growth
……
27. Voice Biometrics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Voice Biometrics Market
29. Voice Biometrics Market Future Outlook and Potential Analysis
30. Appendix

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