Report Ocean presents a comprehensive research report on Voice Biometrics, analyzing markets in 150+ countries. With access to 1,00000+ annual reports, subject matter experts ensure accuracy. Methods like S.W.O.T., P.E.S.T.E.L., and regression analysis forecast growth. The report covers regulations, research tech, innovation, and future trends in Voice Biometrics.
The global voice biometrics market size was US$ 1.7 billion in 2021. The global voice biometrics market size is forecast to reach US$ 7.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 14.0% during the forecast period from 2022 to 2032.
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With the aid of the system, voice biometrics is a technology that can identify a person without any physical touch. This is accomplished by comparing the person’s recorded voice to previously saved information about them in the system. Additionally, biometrics technology supports the identification and validation of an individual’s identity through physiological or behavioral distinctiveness. Speech biometrics distinguishes between two forms of voice recognition: text-dependent and text-independent. Active speech biometrics and Passive voice biometrics are the two varieties of voice biometrics. They are employed in a number of different applications, including those for access control and authentication, fraud detection and prevention, forensic speech analysis, criminal investigation, and others.
1.7 b The rise in demand for robust fraud detection and prevention systems across various end-users drives the global market.
The growing adoption of modern technologies such as artificial intelligence (AI), machine learning (ML), cloud computing, and data analytics is forecast to offer lucrative opportunities for the global market.
An increasing number of banks are incorporating voice authentication for an extra layer of protection, particularly for transactions that take place over the phone, fueling global market growth.
The rising privacy and security problems with new advanced technologies may slow down the overall market growth.
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global market. Several governments worldwide imposed lockdowns in order to curb the virus from spreading. Due to the severe disruption to many sectors’ ability to maintain operational continuity, this had a negative impact on supply chains, logistics, and global manufacturing. The industries with the most challenges were manufacturing, logistics and transportation, and retail and consumer products. The limited availability of labor for production lines, and lack of raw materials further declined the market demand.
Regional Analysis
North America accounted for a substantial market share in 2021 and is forecast to remain dominant during the forecast period. As a result of the growing expansion in the use of mobile & cloud technologies and remarkable technological improvements in computing capacities and voice recognition technology. The healthcare industry is likely to significantly contribute to the growth of voice recognition technology in the United States, Canada, and Mexico due to its use in the compilation of health-related data records.
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Leading Competitors
The leading prominent companies profiled in the global voice biometrics market are:
Aculab
Auraya, Inc
Aware Inc
Nuance Communications, Inc
Nice
Pindrop
Phonexia
SESTEK
Whispeak
VERINT SYSTEMS INC
Microsoft Corporation
Other Prominent Players
Scope of the Report
The global voice biometrics market segmentation focuses on Voice Type, Application, Component, and Region.
Segmentation based on Voice Type
Automatic Speech Recognition Software
Speech-to-text System
Others
Segmentation based on Application
Authentication and Customer Verification
Fraud Detection
Risk and Emergency Management
Payments
Access Security
Others
Segmentation based on Component
Software
Hardware
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
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Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Meta Title: Voice Biometrics Market Size, Share, Insight and Forecast 2022 To 2030
Meta Description: Global Voice Biometrics Market is projected to reach US$ 7.8 billion by the end of 2030 from US$ 1.7 billion in 2021, at a CAGR of 14.0%
Meta Keywords: voice biometrics market Size, voice biometrics market share, voice biometrics market trend, voice biometrics market Forecast, voice biometrics market insight
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