Market Insights and Analysis: Global Voice Biometrics Market Overview and Projections (2024-2030)
The Global Voice Biometrics Market size was valued at around USD 2.53 billion in 2022 and is estimated to grow at a CAGR of about 23.48% during the forecast period, i.e., 2024-30. The high cyber security threats, advancements in voice recognition technology, substantial adoption of voice assistants & voice-activated devices, soaring digitalization of industries, and regulatory compliance & data privacy requirements enhanced the adoption of voice biometrics across verticals such as BFSI, healthcare, telecommunication, etc.
Top leading companies in the Global Voice Biometrics Market includes:
Aculab Inc., Agnitio SL, BioCatch Ltd, LexisNexis Risk Solutions Inc., Nuance Communications Inc., One Vault, Pindrop Security Inc., Phonexia SRO, Uniphore Software Systems Pvt Ltd, Verint Systems Inc., Voice Biometricss Group [VBG], VoicePass Technology, ID R&D, Others.
Global Voice Biometrics Market Opportunity:
Digital Health Innovations in Asia-Pacific to Open New Doors for the Players – The countries in the Asia-Pacific region, such as Singapore, India, South Korea, etc., are witnessing significant growth in digital health innovations due to substantial funding & a growing ecosystem of digital health ventures. COVID-19 has further enhanced digitalization in the healthcare sector, which has led to increased usage of applications such as telehealth, remote patient monitoring, etc. Therefore, to cater to this opportunity, many companies, such as RxDefine, Amazon, etc., launched telehealth applications in 2022. Similarly, companies like Milestone, Cadence, etc., unveiled their remote patient monitoring applications in 2022. The surge of telehealth & remote patient monitoring has created substantial demand for patient authentication processes, and this is creating new opportunities for market players to extend their voice biometric solutions to healthcare service providers.
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Report Segmentation:
The market is categorized into the following segments in the report:
By Type
-Active Voice Biometrics – Market Size & Forecast 2019-2030, (USD Million)
-Passive Voice Biometrics – Market Size & Forecast 2019-2030, (USD Million)
By Deployment
-On-Premise – Market Size & Forecast 2019-2030, (USD Million)
-Cloud – Market Size & Forecast 2019-2030, (USD Million)
By Authentication Process
-Automated IVR- Market Size & Forecast 2019-2030, (USD Million)
-Agent-Assisted – Market Size & Forecast 2019-2030, (USD Million)
-Mobile Applications – Market Size & Forecast 2019-2030, (USD Million)
-Employee Authentication – Market Size & Forecast 2019-2030, (USD Million)
By Application
-Authentication and Customer Verification – Market Size & Forecast 2019-2030, (USD Million)
-Forensic Voice Analysis and Criminal Investigation – Market Size & Forecast 2019-2030, (USD Million)
-Fraud Detection and Prevention – Market Size & Forecast 2019-2030, (USD Million)
-Risk and Emergency Management – Market Size & Forecast 2019-2030, (USD Million)
-Transaction Processing – Market Size & Forecast 2019-2030, (USD Million)
-Access Control – Market Size & Forecast 2019-2030, (USD Million)
-Workforce Management – Market Size & Forecast 2019-2030, (USD Million)
-Others (Vocal Passphrase, Speech Therapy, etc.) – Market Size & Forecast 2019-2030, (USD Million)
By Vertical
-Banking, Financial Services, & Insurance (BFSI)- Market Size & Forecast 2019-2030, (USD Million)
-Government – Market Size & Forecast 2019-2030, (USD Million)
-Healthcare- Market Size & Forecast 2019-2030, (USD Million)
-Retail & E-commerce- Market Size & Forecast 2019-2030, (USD Million)
-IT & Telecommunication – Market Size & Forecast 2019-2030, (USD Million)
-Transportation & Logistics – Market Size & Forecast 2019-2030, (USD Million)
-Others (Education, Hospitality, etc.) – Market Size & Forecast 2019-2030, (USD Million)
By Enterprise Size
-Large Enterprises – Market Size & Forecast 2019-2030, (USD Million)
-Small & Medium Enterprises- Market Size & Forecast 2019-2030, (USD Million).
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Global Voice Biometrics Market Geographic Reach:
The Geographic Reach of the Global Voice Biometrics Market evaluates the spread and significance of Global Voice Biometrics market consumption across different regions/country, emphasizing areas with the largest market size and the most promising growth potential.
- North America: US, Canada, Mexico
- Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
- Asia-Pacific: China, India, Japan, Southeast Asia, Australia, Rest of Asia-Pacific
- South America: Brazil, Rest of South America
- Middle East & Africa: GCC, South Africa, Rest of MEA.
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