Voice Biometrics Market
PUBLISHED: 2021 ID: SMRC20760
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Voice Biometrics Market

Voice Biometrics Market Forecasts to 2028 – Global Analysis By Technology (Artificial Intelligence-Based, Non AI Based), Application (Access Security, Payments), End User (Military, Education) and By Geography

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Published: 2021 ID: SMRC20760

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Voice Biometrics Market is accounted for $1.10 billion in 2020 and is expected to reach $4.99 billion by 2028 growing at a CAGR of 20.8% during the forecast period. Factors such as rising threat to security, growing demand for voice authentication, and growing need to reduce authentication costs are driving the growth of the market. However, high cost and privacy concerns are hampering the growth of the market.

Biometrics technology supports to recognize and validate the identity of an individual through physiological or behavioral uniqueness. The voice biometrics technology recognizes a person without any physical contact through the help of the system. This is done by comparing the recorded voice of the person with previously stored data in the system of the same person. Various voice recorders are utilized for this purpose.

Based on the end user, the healthcare and life sciences segment is anticipated to expand at a rapid pace during the forecast period as voice biometrics offers enhanced security with fewer false rejections, and has a simple sign up process that doesn’t require strenuous effort. By geography, North America is going to have high growth during the forecast period which can be attributed to the strong focus on research and development for technological advances and implementation of the same.

Some of the key players profiled in the Voice Biometrics Market include Voice Biometrics Group, Nuance Communications Inc, LexisNexis Risk Solutions Inc, Pindrop Security Inc, Auraya Systems Pty. Ltd, NICE Ltd, One Vault SA, VoicePIN.com Sp. z o.o., Verint Systems Inc, Uniphore Software Systems Pvt. Ltd, Aimbrain Solutions Ltd, Phonexia Ltd, Lumen Vox LLC (Voice Trust GmBH), Aculab Inc, and SESTEK.

Report Coverage

Details

Published Year:

2021

Estimated Market Size in 2020:

USD 1.10 billion

Estimated Period:

2020

Compound Annual Growth Rate (CAGR) from 2020 to 2028:

20.8%

Predicted 2028 Value:

USD 4.99 billion

Forecast Years:

2021-2028

Tables, Graphs& Figures

345

Chapters Covered:

Component, Deployment Mode, Organization Size, Authentication Process, Type, Technology, Application, End User and Region

Core Drivers and Opportunities:

  • Rising threat to security
  • Growing demand for voice authentication
  • Increasing adoption of advanced technologies

Restraining Factors & Market Threats:

  • Privacy concerns
  • Lack of accuracy in authenticating users


Components Covered:
• Hardware
• Solutions
• Services

Deployment Modes Covered:
• Cloud
• On-Premises   

Organization Sizes Covered:
• Small and Medium-Sized Enterprises (SME's)
• Large Enterprises 

Authentication Processes Covered:
• Automated Interactive Voice Response (IVR)
• Mobile Applications
• Employee Authentication
• Agent-Assisted

Types Covered:
• Active Voice Biometrics
• Passive Voice Biometrics

Technologies Covered:
• Artificial Intelligence-Based
• Non-Artificial Intelligence Based

Applications Covered:
• Forensic Voice Analysis and Criminal Investigation
• Workforce Management
• Risk and Emergency Management
• Access Security
• Payments
• Other Applications

End Users Covered:
• Banking, Financial Services and Insurance (BFSI)
• Government
• Military and Defense
• IT and Telecom
• Energy and Utilities
• Retail and E-Commerce
• Automotive
• Travel and Hospitality
• Healthcare and Life Sciences
• Transportation and Logistics
• Enterprise
• Consumer Electronics & Mobile Devices
• Manufacturing
• Media and Entertainment
• Education

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Key Questions Answered In The Report

The Global Voice Biometrics Market is majorly driven by rising threat to security, growing demand for voice authentication, and growing need to reduce authentication costs.

The healthcare and life sciences segment is growing at a highest CAGR as voice biometrics offers enhanced security with fewer false rejections.

North America dominated with a significant market share due to the strong focus on research and development for technological advancements and implementation of the same.

Asia Pacific market is growing at a highest CAGR owing to the rising need for preventing criminal activities in the region.

Key players in Voice Biometrics Market include Voice Biometrics Group, Nuance Communications Inc, LexisNexis Risk Solutions Inc, Pindrop Security Inc, Auraya Systems Pty. Ltd, NICE Ltd, One Vault SA, VoicePIN.com Sp. z o.o., Verint Systems Inc, Uniphore Software Systems Pvt. Ltd, Aimbrain Solutions Ltd, Phonexia Ltd, Lumen Vox LLC (Voice Trust GmBH), Aculab Inc, and SESTEK.

Table of Contents

1 Executive Summary     
       
2 Preface      

 2.1 Abstract     
 2.2 Stake Holders    
 2.3 Research Scope    
 2.4 Research Methodology   
  2.4.1 Data Mining   
  2.4.2 Data Analysis   
  2.4.3 Data Validation   
  2.4.4 Research Approach   
 2.5 Research Sources    
  2.5.1 Primary Research Sources  
  2.5.2 Secondary Research Sources  
  2.5.3 Assumptions   
       
3 Market Trend Analysis    
 3.1 Introduction    
 3.2 Drivers     
 3.3 Restraints     
 3.4 Opportunities    
 3.5 Threats     
 3.6 Technology Analysis    
 3.7 Application Analysis    
 3.8 End User Analysis    
 3.9 Emerging Markets    
 3.10 Impact of Covid-19    
       
4 Porters Five Force Analysis    
 4.1 Bargaining power of suppliers   
 4.2 Bargaining power of buyers   
 4.3 Threat of substitutes    
 4.4 Threat of new entrants   
 4.5 Competitive rivalry    
       
5 Global Voice Biometrics Market, By Component  
 5.1 Introduction    
 5.2 Hardware     
 5.3 Solutions     
  5.3.1 Software    
  5.3.2 Platform    
 5.4 Services     
  5.4.1 Managed Services   
  5.4.2 Professional Services   
   5.4.2.1 System Integration and  Implementation
   5.4.2.2 Training and Education 
   5.4.2.3 Consulting  
   5.4.2.4 Support and Maintenance 
       
6 Global Voice Biometrics Market, By Deployment Mode 
 6.1 Introduction    
 6.2 Cloud     
 6.3 On-Premises    
       
7 Global Voice Biometrics Market, By Organization Size 
 7.1 Introduction    
 7.2 Small and Medium-Sized Enterprises (SME's) 
 7.3 Large Enterprises    
       
8 Global Voice Biometrics Market, By Authentication Process 
 8.1 Introduction    
 8.2 Automated Interactive Voice Response (IVR) 
 8.3 Mobile Applications    
 8.4 Employee Authentication   
 8.5 Agent-Assisted    
       
9 Global Voice Biometrics Market, By Type   
 9.1 Introduction    
 9.2 Active Voice Biometrics   
 9.3 Passive Voice Biometrics   
       
10 Global Voice Biometrics Market, By Technology  
 10.1 Introduction    
 10.2 Artificial Intelligence-Based   
 10.3 Non-Artificial Intelligence Based  
       
11 Global Voice Biometrics Market, By Application  
 11.1 Introduction    
 11.2 Forensic Voice Analysis and Criminal Investigation 
 11.3 Workforce Management   
 11.4 Risk and Emergency Management  
 11.5 Access Security    
  11.5.1 Authentication and Customer Verification 
  11.5.2 Fraud Detection and Prevention  
 11.6 Payments     
  11.6.1 Transaction Processing  
  11.6.2 Speech Enabled Password Reset  
 11.7 Other Applications    
  11.7.1 Vocal Passphrase   
  11.7.2 Speech Therapy   
  11.7.3 Personalized User Experience  
       
12 Global Voice Biometrics Market, By End User  
 12.1 Introduction    
 12.2 Banking, Financial Services and Insurance (BFSI) 
 12.3 Government    
 12.4 Military and Defense    
 12.5 IT and Telecom    
 12.6 Energy and Utilities    
 12.7 Retail and E-Commerce   
 12.8 Automotive    
 12.9 Travel and Hospitality   
 12.10 Healthcare and Life Sciences   
 12.11 Transportation and Logistics   
 12.12 Enterprise    
 12.13 Consumer Electronics & Mobile Devices  
 12.14 Manufacturing    
 12.15 Media and Entertainment   
 12.16 Education     
       
13 Global Voice Biometrics Market, By Geography  
 13.1 Introduction    
 13.2 North America    
  13.2.1 US    
  13.2.2 Canada    
  13.2.3 Mexico    
 13.3 Europe     
  13.3.1 Germany    
  13.3.2 UK    
  13.3.3 Italy    
  13.3.4 France    
  13.3.5 Spain    
  13.3.6 Rest of Europe   
 13.4 Asia Pacific    
  13.4.1 Japan    
  13.4.2 China    
  13.4.3 India    
  13.4.4 Australia    
  13.4.5 New Zealand   
  13.4.6 South Korea   
  13.4.7 Rest of Asia Pacific   
 13.5 South America    
  13.5.1 Argentina     
  13.5.2 Brazil    
  13.5.3 Chile    
  13.5.4 Rest of South America  
 13.6 Middle East & Africa    
  13.6.1 Saudi Arabia   
  13.6.2 UAE    
  13.6.3 Qatar    
  13.6.4 South Africa   
  13.6.5 Rest of Middle East & Africa  
       
14 Key Developments     
 14.1 Agreements, Partnerships, Collaborations and Joint Ventures
 14.2 Acquisitions & Mergers   
 14.3 New Product Launch    
 14.4 Expansions    
 14.5 Other Key Strategies    
       
15 Company Profiling     
 15.1 Voice Biometrics Group   
 15.2 Nuance Communications Inc   
 15.3 LexisNexis Risk Solutions Inc   
 15.4 Pindrop Security Inc    
 15.5 Auraya Systems Pty. Ltd   
 15.6 NICE Ltd     
 15.7 One Vault SA    
 15.8 VoicePIN.com Sp. z o.o.   
 15.9 Verint Systems Inc    
 15.10 Uniphore Software Systems Pvt. Ltd  
 15.11 Aimbrain Solutions Ltd   
 15.12 Phonexia Ltd    
 15.13 Lumen Vox LLC (Voice Trust GmBH)  
 15.14 Aculab Inc    
 15.15 SESTEK     


List of Tables      
1 Global Voice Biometrics Market Outlook, By Region (2019-2028) ($MN)
2 Global Voice Biometrics Market Outlook, By Component (2019-2028) ($MN)
3 Global Voice Biometrics Market Outlook, By Hardware (2019-2028) ($MN)
4 Global Voice Biometrics Market Outlook, By Solutions (2019-2028) ($MN)
5 Global Voice Biometrics Market Outlook, By Software (2019-2028) ($MN)
6 Global Voice Biometrics Market Outlook, By Platform (2019-2028) ($MN)
7 Global Voice Biometrics Market Outlook, By Services (2019-2028) ($MN)
8 Global Voice Biometrics Market Outlook, By Managed Services (2019-2028) ($MN)
9 Global Voice Biometrics Market Outlook, By Professional Services (2019-2028) ($MN)
10 Global Voice Biometrics Market Outlook, By Deployment Mode (2019-2028) ($MN)
11 Global Voice Biometrics Market Outlook, By Cloud (2019-2028) ($MN)
12 Global Voice Biometrics Market Outlook, By On-Premises (2019-2028) ($MN)
13 Global Voice Biometrics Market Outlook, By Organization Size (2019-2028) ($MN)
14 Global Voice Biometrics Market Outlook, By Small and Medium-Sized Enterprises (SME's) (2019-2028) ($MN)
15 Global Voice Biometrics Market Outlook, By Large Enterprises (2019-2028) ($MN)
16 Global Voice Biometrics Market Outlook, By Authentication Process (2019-2028) ($MN)
17 Global Voice Biometrics Market Outlook, By Automated Interactive Voice Response (IVR) (2019-2028) ($MN)
18 Global Voice Biometrics Market Outlook, By Mobile Applications (2019-2028) ($MN)
19 Global Voice Biometrics Market Outlook, By Employee Authentication (2019-2028) ($MN)
20 Global Voice Biometrics Market Outlook, By Agent-Assisted (2019-2028) ($MN)
21 Global Voice Biometrics Market Outlook, By Type (2019-2028) ($MN)
22 Global Voice Biometrics Market Outlook, By Active Voice Biometrics (2019-2028) ($MN)
23 Global Voice Biometrics Market Outlook, By Passive Voice Biometrics (2019-2028) ($MN)
24 Global Voice Biometrics Market Outlook, By Technology (2019-2028) ($MN)
25 Global Voice Biometrics Market Outlook, By Artificial Intelligence-Based (2019-2028) ($MN)
26 Global Voice Biometrics Market Outlook, By Non-Artificial Intelligence Based (2019-2028) ($MN)
27 Global Voice Biometrics Market Outlook, By Application (2019-2028) ($MN)
28 Global Voice Biometrics Market Outlook, By Forensic Voice Analysis and Criminal Investigation (2019-2028) ($MN)
29 Global Voice Biometrics Market Outlook, By Workforce Management (2019-2028) ($MN)
30 Global Voice Biometrics Market Outlook, By Risk and Emergency Management (2019-2028) ($MN)
31 Global Voice Biometrics Market Outlook, By Access Security (2019-2028) ($MN)
32 Global Voice Biometrics Market Outlook, By Authentication and Customer Verification (2019-2028) ($MN)
33 Global Voice Biometrics Market Outlook, By Fraud Detection and Prevention (2019-2028) ($MN)
34 Global Voice Biometrics Market Outlook, By Payments (2019-2028) ($MN)
35 Global Voice Biometrics Market Outlook, By Transaction Processing (2019-2028) ($MN)
36 Global Voice Biometrics Market Outlook, By Speech Enabled Password Reset (2019-2028) ($MN)
37 Global Voice Biometrics Market Outlook, By Other Applications (2019-2028) ($MN)
38 Global Voice Biometrics Market Outlook, By Vocal Passphrase (2019-2028) ($MN)
39 Global Voice Biometrics Market Outlook, By Speech Therapy (2019-2028) ($MN)
40 Global Voice Biometrics Market Outlook, By Personalized User Experience (2019-2028) ($MN)
41 Global Voice Biometrics Market Outlook, By End User (2019-2028) ($MN)
42 Global Voice Biometrics Market Outlook, By Banking, Financial Services and Insurance (BFSI) (2019-2028) ($MN)
43 Global Voice Biometrics Market Outlook, By Government (2019-2028) ($MN)
44 Global Voice Biometrics Market Outlook, By Military and Defense (2019-2028) ($MN)
45 Global Voice Biometrics Market Outlook, By IT and Telecom (2019-2028) ($MN)
46 Global Voice Biometrics Market Outlook, By Energy and Utilities (2019-2028) ($MN)
47 Global Voice Biometrics Market Outlook, By Retail and E-Commerce (2019-2028) ($MN)
48 Global Voice Biometrics Market Outlook, By Automotive (2019-2028) ($MN)
49 Global Voice Biometrics Market Outlook, By Travel and Hospitality (2019-2028) ($MN)
50 Global Voice Biometrics Market Outlook, By Healthcare and Life Sciences (2019-2028) ($MN)
51 Global Voice Biometrics Market Outlook, By Transportation and Logistics (2019-2028) ($MN)
52 Global Voice Biometrics Market Outlook, By Enterprise (2019-2028) ($MN)
53 Global Voice Biometrics Market Outlook, By Consumer Electronics & Mobile Devices (2019-2028) ($MN)
54 Global Voice Biometrics Market Outlook, By Manufacturing (2019-2028) ($MN)
55 Global Voice Biometrics Market Outlook, By Media and Entertainment (2019-2028) ($MN)
56 Global Voice Biometrics Market Outlook, By Education (2019-2028) ($MN)
       
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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