Over the recent past, the voice biometrics market has been thriving with a consistent uptick in demand, owing to growing digitalization and incorporation of devices like mobile phones, tablets, and others for banking sector offerings. Going forward, the incorporation of cutting-edge technologies viz AI, IoT, and cloud computing coupled with next-gen innovations in bioelectronics is steering the growth of the global voice biometrics market.
Besides, proliferating penetration of electronic devices in healthcare, automotive, and banking sectors, adoption of nano technology, and enhancements in precision and efficacy of voice recognition systems are set to expand the worldwide demand for voice biometrics. Improvisation and simplification of complex chip designing procedures would enable diverse applications of voice biometrics. Against this background, the voice mining & speaker identifications systems can be beneficial for intelligence agencies and law applications. Consequently, the increasing deployment of voice recognition systems across the spectrum of industries along with the provided ease and productivity are expected to bode well for voice biometrics during the projection period.
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Banking Sector to Continue its Lead as the Foremost End-Use Segment
Of late, the onset of digitization across the banking sector has provided several loopholes that can trigger fraudulent activities. The rapid growth of such criminal acts such as high-profile data thefts, unauthorized access to banking credentials, etc. have become a core concern and have the capacity to adversely affect the users. To this end, the financial authentication system needs a robust security system.
Voice biometrics play a momentous role in establishing efficiency in banking services, alleviating threats, and providing a value-added customer experience. Incorporation of voice biometrics facilitates powerful fraud detection, discrete authentication of people, reduction in authentication and identification costs, and advocates system prevention throughout the Banking, Financial Services, and Insurance (BFSI) space. Moreover, the adoption of biometric technology enables reliable and tamper-resistant identification of human voices. Additionally, with consistently evolving algorithms, the accuracy of voice recognition systems is incessantly improving.
On the whole, with the enhancements in the KYC processes and the basic requirements of phone and mobile infrastructure in the deployment of voice recognition systems, the demand for voice biometrics is anticipated to rise exponentially in the coming years.
Asia Pacific Spearheads Voice Biometrics Market with Robust Digitalization, and Growing Financial Transactions via Mobile Phones & Other Smart Devices
During the forecasted period, the voice biometrics market is expected to flourish in the Asia Pacific. Growing emphasis on financial security, introduction of advanced technologies, and untapped potential of the region is opening up new opportunities for development. APAC is experiencing an increase in financial transactions on digital channels and other modes such as mobile phones, tablets, etc. The Asia Pacific is advancing towards digitization and mobile banking. The need to enhance security posture & prevent criminal activities which have surged the demand for voice biometrics.
China, India, and Japan are at the beating heart of global as well as multinational players, creating immense competition in the voice biometrics market.
Eminent players across the global voice biometrics market include Nuance (US), Interactions (US), Verint (US), Pindrop (US), Aware (US), SpeechPro (US), LexisNexis Risk Solutions (US), VBG (US), LumenVox (US), Aculab (UK), NICE (Israel), Phonexia (Czech Republic), VoicePIN (Poland), Auraya (Australia), OneVault (South Africa), SESTEK (Turkey), QSS Technosoft (India), Voxta (India), and Uniphore (India).
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The global Voice Biometrics Market is forecasted to be worth USD 4.90 Billion by 2027, according to a new report by Emergen Research.
Rapid urbanization and adoption of digital technology in industries like Telecommunications and IT, BFSI, Government, and Defense will drive the demand for the voice biometric.
The proliferation of digital devices in everyday activities has created a need for advanced protection solutions.
Some of the commonly used biometric technology are radio networks, mobile phones and landlines, virtual private networks, voice over IP networks, and microphones.The latest research report by Emergen Research, named ‘Global Voice Biometrics Market - Forecast to 2027’, entails a comprehensive review of the global Voice Biometrics market’s present and future trends.
The report gathers viable information on the most established industry players, sales and distribution channels, regional spectrum, estimated market share and size, and revenue estimations over the forecast timeframe.Get a sample of the report @ https://www.emergenresearch.com/request-sample/159Market Scope:One of the report’s central components is the broad Voice Biometrics market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders.
The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period.
In-depth analysis of Voice Biometrics Market 2020The Report Titled “Voice Biometrics Market Report 2020, Competitive Landscape, Trends, and Opportunities” offers an in-depth assessment of the market by looking at the Market Growth, Drivers, Challenges, Opportunities, and Trends for the market to help the readers understand the overall scenario of the Voice Biometrics industry.
The Voice Biometrics Market report takes a holistic approach to the market and gives market insights, historical analysis, and verifiable projections pertaining to the market size in the forecast duration.
The estimations derived in this report are deduced by employing precise analytical tools, research methodologies, estimates, and reliable data sources.
The information offered in the report makes it an exhaustive database for all facets of the market categorized into product types, applications, end-user industries, prominent manufacturers, technology, and regional markets.To Get a Free PDF for Accurate Technical Insights, visit @ https://www.reportsanddata.com/sample-enquiry-form/2012 The Voice Biometrics market intelligence study includes a separate section dedicated to crucial parameters like the pricing structure of vital feedstock and value chain analysis, along with the study of major suppliers of the raw materials.
In market segmentation by manufacturers, the report covers the following companies -Google, Facebook, Amazon, Apple, Nuance Communications, NICE, AimBrain, Voice Biometrics Group, Verint, OneVault, LumenVox, Phonexia, Uniphore, VoicePIN, Auraya, LexisNexis Risk Solutions Sestek, VoiceVault, Inc, Raytheon Company.
The market intelligence study outlines essential details of the market and the leading companies that hold a substantial portion of the global sector.
