Voice Biometrics Market - Global Industry, Analysis, Size, Share, Trends, and Forecasts, 2020 to 2030

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Voice Biometrics Market - Global Industry, Analysis, Size, Share, Trends, and Forecasts, 2020 to 2030

Status : June, 2021 | Technology & Media

Report Digest

Voice Biometrics Market: Overview

The increasing need for prevention systems and fraud detection systems for safety measures in the banking sector is the prime factor augmenting the growth of the global voice biometrics market. This is likely to continue doing so in the forecast period set between 2020 and 2030 on account of the increasing number of fraudulent activities especially with the advent of digitalization. Voice biometrics utilizes a mix of various components in a speaker's voice to confirm his/her character. This arrangement is utilized by contact focuses to confirm guests and check their guaranteed character continuously which disposes of the requirement for cross examination by contact focus specialists, saves time, and improves client experience.

The global voice biometrics market is classified on the basis of components, type, authentication process, deployment mode, organization size, application, vertical, and region. In terms of component, the market is split into services and solutions. The type sector is bifurcated into passive voice biometrics and active voice biometrics. With respect to authentication process, the market is categorized into employee authentication, mobile applications, agent-assisted, and automated IVR. Based on deployment type, the market is divided into cloud and on-premises. Based on organization size, the market is divided into small and medium sized enterprises on the one side and large enterprises on the other. As per classification by application, the market is grouped into workforce management, access control, transaction processing, risk and emergency management, fraud detection and prevention, forensic voice analysis and criminal investigation, authentication and customer verification, and others.

The report on the global voice biometrics market is based on a qualitative and quantitative analysis and focuses on the prime growth parameters. This includes driving, repelling, challenging, and factors creating lucrative growth opportunities for the market. Besides this, the report also lists the key trends and recent innovations that helped shape the market in terms of growth rate. The impact of the novel CORONAVIRUS pandemic is also discussed in this report.

Voice Biometrics Market Competitive Landscape

Companies functioning in the global voice biometrics market are indulging in collaborative agreements and joint ventures to gain an upper hand in the overall market competition. Additionally, players are also investing in product launches and up gradations, so as to attract higher revenues for the market competition and emerge dominant.

Some of the players operating in this market include:

  • AnyVision
  • Trust Stamp
  • Element
  • HYPR
  • Kaizen Secure Voiz
  • ID R& D
  • Interactions
  • Voxta
  • Uniphore
  • Phonexia
  • NICE
  • QSS Technosoft

Voice Biometrics Market: Trends and Innovations

The rising demand for robust fraud detection and prevention systems across major nations is the prime factor attributing to the growth of the global voice biometrics market. Besides this, the rising need to reduce the cost of authentication and identification are also projected to aid in expansion of this market during the forecast period. On the contrary the low budget on cybersecurity granted by various national governments may restrict the growth of the market./ This, coupled with the high price of installation may also emerge as another obstruction for the growth of this market. Despite this, the increasing need to safeguard the privacy of the growing healthcare data especially at the time of COVID19 pandemic is likely to create lucrative growth opportunity for the market in the forecast period.

Voice Biometrics Market: Regional Insights

Geographically, the market was dominated by North America on account of the rising emphasis on enhanced security for stopping the number of crime rates in the developed nations of Canada and the United States. On the other side, the Asia Pacific market is expected to emerge as the fastest growing region on account of the increasing demand for enhanced security and the rising need to prevent cybercrimes across the emerging nations such as China, India, Japan, and others.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?