The voice biometrics technology is used for voice recognition with the analysis of users’ pitch, voice, speech, and tones. It offers a high security as voice of an individuals’ is unique and distinctive just like as a fingerprint. Increasing demand for strong fraud detection and growing popularity across several sectors are some of the crucial factors boosting the growth of global voice biometrics market. On the other hand, security issues and high cost are restraining the growth of the global voice biometric market.
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The international market for voice biometrics is predicted to attract significant growth due to the huge advancements in software as well as hardware. In addition to this, the high penetration of tablets, smartphones, and several wearable technologies has led to the huge demand for innovative foolproof safer solutions, such factors responsible to boost the growing demand for voice biometrics market. The increasing adoption of IoT technology, wherein user’s security and privacy needs to be protected is fueling the acceptance of biometric solutions. Likewise, landline and mobile phones, microphone, virtual private network, radio network, and voice with IP networking are some types of communication network which can be utilized for biometrics technology.
Moreover, voice biometrics technologies are hugely gaining traction owing to the high level security that they provide. From mobile applications to phone system, voice biometric technologies are adopted as they offer safe and secure authentication. Thus, voice, speech, range, and pitch of an individual are used as parameters for voice recognition. In addition, voice biometrics provides a high level of accuracy, and it is the only technology which does not need extra dedicated hardware like fingerprint sensor or iris-scanning kit apart from microphone. Furthermore, voice biometric solution offers a high accuracy due to technological innovations in microphones and processing power.
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The global voice biometrics market segmented on the basis of component into software and services. Out of theses, the software segment is accounted to hold a highest market size over the predicted period. The segment is expected to grow with a healthy growth rate into coming years, owing to its huge adoption. In addition to this, the requirement for faster, easy, as well as convenient authentication of user is anticipated to boost the voice biometrics market growth. In terms of application, the market offers fraud detection, fraud prevention, authentication, access control, criminal investigation, forensic voice analysis, and other applications. On considering type, the market is segregated into active and passive voice biometrics. Depending on the deployment model, the global voice biometrics market is fragmented into cloud and on-premises. In terms of organization size, the market divided into large enterprises and small & medium enterprises. On considering industry verticals, the market is segregated into government & defense, IT & telecom, BFSI, ecommerce & retail, healthcare, and others.
In terms of geographical front, the global voice biometrics market is divided into Europe, North America, APAC, Latin America, and MEA. The international market for voice biometrics is expected to witness the prominence of several leading companies such as Voice Pass Technology, MASYS Technology, agnito SL, SayPay Technologies INC., VoiceTrust Holding BV, SpeechPro ValidSoft, Voice Security Sysrems, Boid Ag, OneVault, and many others.
Based on Components, the voice biometrics market has the following segments:
Software
Services
Managed Services
Professional Services
Consulting
Deployment Integration
Support and Maintenance
Training and Education
Based on Applications, the voice biometrics market has the following segments:
Access Control and Authentication
Fraud Detection and Prevention
Forensic voice analysis and Criminal Investigation
Others (Speech Therapy, and Personalized User Experience)
Based on Types, the voice biometrics market has the following segments:
Active Voice Biometrics
Passive Voice Biometrics
Based on Deployment Models, the voice biometrics market has the following segments
On-premises
Cloud
Based on Organization Sizes, the voice biometrics market has the following segments
SMEs
Large Enterprises
Based on Industry Verticals, the voice biometrics market has the following segments:
BFSI
Government and Defense
Telecom and IT
Healthcare
Retail and eCommerce
Others
Based on Regions, the voice biometrics market has the following segments:
North America
US
Canada
Europe
UK
Germany
France
Rest of Europe
APAC
China
ANZ
India
Singapore
Rest of APAC
MEA
Middle East
Africa
Latin America
Mexico
Brazil
Rest of Latin America
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