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Global Voice Biometrics Market 2024 Production Analysis, Latest Trends, Industry Share And Forecast To 2033 | Major Players Are Nuance Communications Inc., Aculab Ltd., Auraya Systems Pty Ltd., NICE Ltd., OneVault (Pty) Ltd.
Voice Biometrics Market
The Business Research Company presents an extensive market research report on the Voice Biometrics Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The voice biometrics market size has grown exponentially in recent years. It will grow from $1.91 billion in 2023 to $2.35 billion in 2024 at a compound annual growth rate (CAGR) of 22.9%. The growth in the historic period can be attributed to security and authentication needs, rise of mobile banking and payments, proliferation of smart devices, fraud prevention, regulatory compliance, integration with contact centers..
The voice biometrics market size is expected to see exponential growth in the next few years. It will grow to $5.02 billion in 2028 at a compound annual growth rate (CAGR) of 20.9%. The growth in the forecast period can be attributed to advancements in deep learning, passwordless authentication trends, global expansion of biometric solutions, multilingual support, improved anti-spoofing measures, user education and awareness.. Major trends in the forecast period include increased adoption in authentication systems, advancements in natural language processing (nlp), emphasis on anti-spoofing and security measures, cloud-based voice biometrics solutions, integration with virtual assistants and chatbots, market expansion across industries, collaboration with biometric standards organizations..
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Key Market Players:
Major companies operating in the voice biometrics market report are Nuance Communications Inc., Aculab Ltd., Auraya Systems Pty Ltd., NICE Ltd., OneVault (Pty) Ltd., Pindrop Security Inc., Verint Systems Inc., Speech Technology Center Ltd., LumenVox LLC, Uniphore Software Systems Pvt. Ltd., Sestek Inc., VoicePIN.com Sp. z o.o., QSS Technosoft Pvt. Ltd., Voxta Communications Private Limited, Interactions LLC, ID R&D Inc., Kaizen Secure Voiz Pvt. Ltd., Voice Biometrics Group LLC, Phonexia s.r.o., BioCatch Ltd., LexisNexis Risk Solutions Inc., Agnitio S.L., American Safety Council Inc., VoiceTrust Holding BV, BioID GmbH, SayPay Technologies Inc., ValidSoft Ltd., VoicePass Technology Ltd., VoiceVault Limited, Apple Inc., Amazon.com Inc., Lingua Custodia Technologies, MIA Teknoloji Ltd., Voice Security Systems Inc., VoiceAI Technologies Inc., Fujitsu Limited, NEC Corporation, Suprema Inc., 3M Cogent Inc., Idemia Identity & Security France SA, IrisGuard Inc., Aware Inc.
Market Drivers:
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. For instance, in February 2023, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, the cyber crime reports received in 2022 were 76,000, up from 13% from the previous year. Therefore, an increase in the frequency of cyber-attacks is driving the demand for the voice biometrics market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/voice-biometrics-global-market-report
The voice biometrics market covered in this report is segmented -
1) By Type: Passive Voice Biometrics, Active Voice Biometrics
2) By Component: Solution, Services
3) By Deployment: Cloud, On-Premise
4) By Application: Authentication And Customer Verification, Forensic Voice Analysis And Criminal Investigation, Fraud Detection And Prevention, Transaction Processing, Access Control, Workforce Management
5) By End-User: BFSI, Government, Telecommunication, Other End Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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