Voice Biometrics Market: Global Industry Size, Share, Growth, Trends, Analysis and Forecast 2019 to 2027

Voice Biometrics Market: Global Industry Size, Share, Growth, Trends, Analysis and Forecast 2019 to 2027

According to a new market research report published by Credence Research “Global Voice Biometrics Market — Growth, Future Prospects, and Competitive Analysis, 2019–2027”, the voice biometrics market is set to grow with a CAGR of 23.5% during the forecast period.

Market Insights

The voice biometrics market is driven by the growing adoption of internet banking and digital banking solutions across the globe. The financial institutes are rapidly shifting towards the online channels to enhance the customer experience and provide more personalized banking experience. These solutions enable financial institutes to offer customers more ways to access their accounts, boost customer retention and satisfaction. However, as the increasing adoption of internet banking increases, the risk of online data breaches, identity fraud, and transaction fraud also rises. Therefore, the banks are seeking advance security solution that goes beyond user name and password.

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The proliferation of the enterprise mobility solutions, mobile apps, and mobile business workforce is also serving as s a major driver for the growth of the market. Furthermore, the adoption of cloud-based biometric solutions is further accelerating the adoption among enterprises. However, the data safety and security issues associated with the biometric solution is inhibiting the market growth.

The voice biometrics market is segmented based on the type into active voice biometrics, passive voice biometrics. The active voice biometric segment accounted for a majority share in the revenue in 2018. The growth of the market is credited to the numerous benefits offers by the active voice biometric solution such as phase repetition, and reduction in enrollment friction. Whereas, the passive voice biometrics solutions are estimated to gain traction during the forecast period.

Asia Pacific’s voice biometrics market is projected to grow extensively over the forecast period. The supportive government initiatives for the protection and safety of the data in the region are also encouraging the organizations to opt for Voice Biometrics. The market is driven by the rising incidences of data leakages and unauthorized data access among the organizations. Furthermore, the growing adoption of online banking solutions is further estimated to drive market growth.

The prominent vendors of the voice biometrics market are AimBrain, Aculab, Auraya, LumenVox, LexisNexis Risk Solutions, Voice Biometrics Group, NICE, OneVault, Verint, Nuance Communications, Phonexia, Sestek, Pindrop, Uniphore, and VoicePIN.

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[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]

Market Segmentation

By Component Segment
• Software
• Services
o Professional Service
o Managed Service

By Type Segment
• Active Voice Biometrics
• Passive Voice Biometrics

By Deployment Segment
• On-Premise
• Cloud

By Application Segment
• Access Control and Authentication
• Fraud Detection and Prevention
• Forensic Voice Analysis and Criminal Investigation
• Others

By End-Use Segment
• BFSI
• Government and Defense
• Healthcare
• Retail and e-commerce
• Telecom and IT
• Others

By Geography Segment

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (the Middle East & Africa, Latin America)

Key questions answered in this report

  • What was the market size of voice biometrics in 2018 and forecast up to 2027?
  • Which is the largest regional market for voice biometrics?
  • What are the major trends followed in the voice biometrics market across different regions?
  • Who are the key companies in the voice biometrics market?
  • What are the key strategies adopted by the leading voice biometrics companies in the market?

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/60129