Voice Biometrics Market
Voice Biometrics Market Size, Share & Trends Analysis Report by Components (Solutions and Services), by Type (Active Voice Biometrics and Passive Voice Biometrics), by Deployment Mode (Cloud and On-Premises), and by Application (Authentication & Customer Verification, Access Control, Fraud Detection & Prevention, Forensic Voice Analysis & Criminal Investigation, and Others) Forecast Period (2022-2028) Update Available - Forecast 2024-2030
Voice biometrics market is anticipated to grow at a considerable CAGR of 21.4% during the forecast period. The market is expected to witness strong growth owing to the healthcare industry and improvements in terms of accuracy and voice modality. Additionally, several technological advancements in biometric devices such as medical biometrics to further bolster the market growth. For instance, in December 2019, Amazon Web Services (AWS) introduced Amazon Transcribe Medical. It is a speech recognition capability of Amazon Transcribe, which converts clinician and patient’s speech to text.
Voice biometrics includes a process of converting human voice into digital data. It is widely used as a security feature due to its improved authenticity and enhanced capability of fraud detection. Hence, there is a significant increase in demand for fraud prevention and detection systems in several end-users including BFSI, healthcare & life sciences, and others, which in turn propels the growth of the market.
Segmental Outlook
The global voice biometrics market is segmented based on components, type, deployment mode, and application. Based on the component, the market is sub-segmented into solutions and services. Based on the type, the market is augmented into active voice biometrics and passive voice biometrics. Based on the deployment mode, the market is bifurcated into cloud and on-premises. Further, based on the application, the voice biometrics market is sub-segmented into authentication & customer verification, access control, fraud detection & prevention, forensic voice analysis & criminal investigation, and others. The other sub-segment includes workforce management, speech therapy, and personalized user experience, among others. Apart from this, the voice biometrics market is segmented based on end-users, which includes BFSI, healthcare & life science, retail & e-commerce, government, IT & telecommunication, and others. Which includes travel and hospitality, logistics and transportation, and energy. Among the deployment mode, the on-premises sub-segment is expected to hold a prominent share in the global voice biometrics market.
Among the application, the authentication & customer verification sub-segment is expected to grow at a considerable CAGR over the forecast period. The factor contributing to the segmental growth includes the rising incidence of fraudulent activities due to the growing digitalization across the globe. For instance, the Reserve Bank of India (RBI) reported bank frauds amounting to $7.5 billion, by November 2022. Thus, such incidents have created the requirement of integrating third-level of security within the authentication system globally.
Regional Outlooks
The global voice biometrics market is further segmented based on geography including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, North America is projected to hold a prominent share of the voice biometrics market across the globe, due to the quick adoption and development of various voice technologies coupled with the presence of key market players in nations such as the US and Canada.
Global Voice Biometrics Market Growth, by Region 2022-2028
The European Region is Anticipated to Grow a Considerable CAGR Over the Forecast Period
The European region is anticipated to grow at a prominent CAGR over the projected period. The primary factor attributing to the regional growth includes the growing deployment of voice biometric systems and solutions within the banking sector. This is due to the rising concern to provide enhanced security to their customers. For instance, in January 2022, HSBC UK adopted voice authentication to mitigate fraud. Since its launch in 2016, the bank has invested around $1.0 billion in technology. The company has already deployed fingerprint scanners in smartphone applications. Furthermore, in January 2021, AIB established two types of biometric services. Among these, the first allows customers to use face or touch ID to access mobile banking applications, whereas the second is voice authentication.
Market Players Outlook
The major companies serving the global voice biometrics market include Nuance Communications, Inc., Verint Systems, VBG, Voxta, ForgeRock, LumenVox GmbH, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. Key players are investing in research and development to further grow the business. For instance, in April 2021, Microsoft Corp. bought Nuance Communications, Inc. for $19.7 billion intending to expand its presence in the speech biometrics segment. Through this partnership, the company provides voice biometric solutions to call centres across various industries such as banking and others.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global roller shutter door market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global Voice Biometrics Market by Components
4.1.1. Solutions
4.1.2. Services
4.2. Global Voice Biometrics Market by Type
4.2.1. Active Voice Biometrics
4.2.2. Passive Voice Biometrics
4.3. Global Voice Biometrics Market by Deployment Mode
4.3.1. Cloud
4.3.2. On-Premises
4.4. Global Voice Biometrics Market by Application
4.4.1. Authentication & Customer Verification
4.4.2. Access Control
4.4.3. Fraud Detection & Prevention
4.4.4. Forensic Voice Analysis & Criminal Investigation
4.4.5. Others (Workforce Management, Speech Therapy, Personalized User Experience)
4.5. Global Voice Biometrics Market by End-Users
4.5.1. BFSI
4.5.2. Healthcare and Life Science
4.5.3. Retail and E-Commerce
4.5.4. Government
4.5.5. IT and Telecommunication
4.5.6. Others (Travel and Hospitality, Logistics and Transportation, Energy)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Aculab
6.2. AnyVision Interactive Technologies Ltd.
6.3. AURAYA
6.4. Aware, Inc.
6.5. Element Matrix Services (Element)
6.6. ForgeRock
6.7. ID R&D
6.8. Interactions LLC
6.9. KAIZEN SECURE VOIZ
6.10. LexisNexis Risk Solutions
6.11. LumenVox GmbH
6.12. NICE Ltd.
6.13. Nuance Communications, Inc.
6.14. OneVault Proprietary Ltd.
6.15. Phonexia
6.16. Pindrop
6.17. QSS Technosoft Pvt. Ltd.
6.18. Sestek Ses ve Iletisim Bilgisayar Teknolojileri San. ve Tic. A.S
6.19. Speech Technology Center Ltd.
6.20. T Stamp Inc. (Trust Stamp)
6.21. Uniphore Technologies Inc.
6.22. Verint Systems
6.23. Voice Biometrics Group (“VBG”)
6.24. VoicePIN
6.25. Voxta
1. GLOBAL VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
2. GLOBAL VOICE BIOMETRICS SOLUTIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL VOICE BIOMETRICS SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
5. GLOBAL ACTIVE VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL PASSIVE VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2021-2028 ($ MILLION)
8. GLOBAL CLOUD-BASED VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL ON-PREMISES VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
11. GLOBAL VOICE BIOMETRICS FOR AUTHENTICATION & CUSTOMER VERIFICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL VOICE BIOMETRICS FOR ACCESS CONTROL MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. GLOBAL VOICE BIOMETRICS FOR FRAUD DETECTION & PREVENTION MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
14. GLOBAL VOICE BIOMETRICS FOR FORENSIC VOICE ANALYSIS & CRIMINAL INVESTIGATION MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
15. GLOBAL VOICE BIOMETRICS FOR OTHER APPLICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
16. GLOBAL VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY END-USERS, 2021-2028 ($ MILLION)
17. GLOBAL VOICE BIOMETRICS IN BFSI MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
18. GLOBAL VOICE BIOMETRICS IN HEALTHCARE AND LIFE SCIENCE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
19. GLOBAL VOICE BIOMETRICS IN RETAIL AND E-COMMERCE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
20. GLOBAL VOICE BIOMETRICS IN GOVERNMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
21. GLOBAL VOICE BIOMETRICS IN IT AND TELECOMMUNICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
22. GLOBAL VOICE BIOMETRICS IN OTHER END-USERS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
23. GLOBAL VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
24. NORTH AMERICAN VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
25. NORTH AMERICAN VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
26. NORTH AMERICAN VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
27. NORTH AMERICAN VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2021-2028 ($ MILLION)
28. NORTH AMERICAN VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
29. NORTH AMERICAN VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY END-USERS, 2021-2028 ($ MILLION)
30. EUROPEAN VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
31. EUROPEAN VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
32. EUROPEAN VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
33. EUROPEAN VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2021-2028 ($ MILLION)
34. EUROPEAN VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
35. EUROPEAN VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY END-USERS, 2021-2028 ($ MILLION)
36. ASIA-PACIFIC VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
37. ASIA-PACIFIC VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
38. ASIA-PACIFIC VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
39. ASIA-PACIFIC VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2021-2028 ($ MILLION)
40. ASIA-PACIFIC VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
41. ASIA-PACIFIC VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY END-USERS, 2021-2028 ($ MILLION)
42. REST OF THE WORLD VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
43. REST OF THE WORLD VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
44. REST OF THE WORLD VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
45. REST OF THE WORLD VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2021-2028 ($ MILLION)
46. REST OF THE WORLD VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
47. REST OF THE WORLD VOICE BIOMETRICS MARKET RESEARCH AND ANALYSIS BY END-USERS, 2021-2028 ($ MILLION)
1. GLOBAL VOICE BIOMETRICS MARKET SHARE BY COMPONENT, 2021 VS 2028 (%)
2. GLOBAL VOICE BIOMETRICS SOLUTIONS MARKET SHARE BY REGION, 2021 VS 2028 (%)
3. GLOBAL VOICE BIOMETRICS SERVICES MARKET SHARE BY REGION, 2021 VS 2028 (%)
4. GLOBAL VOICE BIOMETRICS MARKET SHARE BY TYPE, 2021 VS 2028 (%)
5. GLOBAL ACTIVE VOICE BIOMETRICS MARKET SHARE BY REGION, 2021 VS 2028 (%)
6. GLOBAL PASSIVE VOICE BIOMETRICS MARKET SHARE BY REGION, 2021 VS 2028 (%)
7. GLOBAL VOICE BIOMETRICS MARKET SHARE BY DEPLOYMENT MODE, 2021 VS 2028 (%)
8. GLOBAL CLOUD-BASED VOICE BIOMETRICS MARKET SHARE BY REGION, 2021 VS 2028 (%)
9. GLOBAL ON-PREMISES VOICE BIOMETRICS MARKET SHARE BY REGION, 2021 VS 2028 (%)
10. GLOBAL VOICE BIOMETRICS MARKET SHARE BY APPLICATION, 2021 VS 2028 (%)
11. GLOBAL VOICE BIOMETRICS FOR AUTHENTICATION & CUSTOMER VERIFICATION MARKET SHARE BY REGION, 2021 VS 2028 (%)
12. GLOBAL VOICE BIOMETRICS FOR ACCESS CONTROL MARKET SHARE BY REGION, 2021 VS 2028 (%)
13. GLOBAL VOICE BIOMETRICS FOR FRAUD DETECTION & PREVENTION MARKET SHARE BY REGION, 2021 VS 2028 (%)
14. GLOBAL VOICE BIOMETRICS FOR FORENSIC VOICE ANALYSIS & CRIMINAL INVESTIGATION MARKET SHARE BY REGION, 2021 VS 2028 (%)
15. GLOBAL VOICE BIOMETRICS FOR OTHER APPLICATIONS MARKET SHARE BY REGION, 2021 VS 2028 (%)
16. GLOBAL VOICE BIOMETRICS MARKET SHARE BY END-USERS, 2021 VS 2028 (%)
17. GLOBAL VOICE BIOMETRICS IN BFSI MARKET SHARE BY REGION, 2021 VS 2028 (%)
18. GLOBAL VOICE BIOMETRICS IN HEALTHCARE AND LIFE SCIENCE MARKET SHARE BY REGION, 2021 VS 2028 (%)
19. GLOBAL VOICE BIOMETRICS IN RETAIL AND E-COMMERCE MARKET SHARE BY REGION, 2021 VS 2028 (%)
20. GLOBAL VOICE BIOMETRICS IN GOVERNMENT MARKET SHARE BY REGION, 2021 VS 2028 (%)
21. GLOBAL VOICE BIOMETRICS IN IT AND TELECOMMUNICATION MARKET SHARE BY REGION, 2021 VS 2028 (%)
22. GLOBAL VOICE BIOMETRICS IN OTHER END-USERS MARKET SHARE BY REGION, 2021 VS 2028 (%)
23. GLOBAL VOICE BIOMETRICS MARKET SHARE BY REGION, 2021 VS 2028 (%)
24. US VOICE BIOMETRICS MARKET SIZE, 2021-2028 ($ MILLION)
25. CANADA VOICE BIOMETRICS MARKET SIZE, 2021-2028 ($ MILLION)
26. UK VOICE BIOMETRICS MARKET SIZE, 2021-2028 ($ MILLION)
27. FRANCE VOICE BIOMETRICS MARKET SIZE, 2021-2028 ($ MILLION)
28. GERMANY VOICE BIOMETRICS MARKET SIZE, 2021-2028 ($ MILLION)
29. ITALY VOICE BIOMETRICS MARKET SIZE, 2021-2028 ($ MILLION)
30. SPAIN VOICE BIOMETRICS MARKET SIZE, 2021-2028 ($ MILLION)
31. REST OF EUROPE VOICE BIOMETRICS MARKET SIZE, 2021-2028 ($ MILLION)
32. INDIA VOICE BIOMETRICS MARKET SIZE, 2021-2028 ($ MILLION)
33. CHINA VOICE BIOMETRICS MARKET SIZE, 2021-2028 ($ MILLION)
34. JAPAN VOICE BIOMETRICS MARKET SIZE, 2021-2028 ($ MILLION)
35. SOUTH KOREA VOICE BIOMETRICS MARKET SIZE, 2021-2028 ($ MILLION)
36. REST OF ASIA-PACIFIC VOICE BIOMETRICS MARKET SIZE, 2021-2028 ($ MILLION)
37. REST OF THE WORLD VOICE BIOMETRICS MARKET SIZE, 2021-2028 ($ MILLION)
