The Global Voice Biometrics Market was valued at USD 0.69 Billion in 2018 and is expected to reach USD 3.91 Billion by the year 2026, at a CAGR of 23.5%. The study provides an overall insight into the factors responsible for the growth in the Voice Biometrics market. Owing to rising urbanization and digitalization across the world, end-user sectors like BFSI, Government and Public Sectors and IT & Telecom have experienced growth and now rely on technology-driven systems to operate upon. This has made these sectors prone to hackers which target the valuable information and resources being used in these sectors. Voice Biometrics market is expected to grow because of this factor as biometrics used as credentials involve the use of unalterable, robust, and thorough algorithms to verify users.
The major driving factors for the voice biometrics market include increasing complexity of cyber-attacks, creating a need for a stronger defense system. Additionally, the advent of advanced technologies such as AI ML, cloud computing and Data Analytics, and the increasing demand for preserving healthcare and financial data will create significant opportunities for the vendors of in the voice biometrics market. The applications in the voice biometrics market include forensic voice analysis, access security, payments, and others. The different industries where the voice biometric software are implemented in the voice biometrics market end-user comprises of Government, BFSI, Consumer Electronics, Healthcare, Transport/Logistics, Defense & Security, and Others. The growth of Voice Biometrics market is expected to be restrained due to poor-quality voice samples, the variability in a speaker’s voice due to illness, mood, changes over time, background noise. It is anticipated that extensive research and development funded by various companies and governments would help in overcoming this challenge and convert it into an opportunity for the market to thrive upon. The paramount importance of confidentiality and secrecy in the operation of many Government and Private companies is expected to grow the size of the Voice Biometric market.
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Further key findings from the report suggest
Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the Voice Biometrics market on the basis of Application, component type, deployment type, size type, end user industry and region:
Application (Revenue in USD Million; 2016–2026)
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Component type (Revenue in USD Million; 2016–2026)
Deployment type (Revenue in USD Million; 2016–2026)
Size type (Revenue in USD Million; 2016–2026)
End User Industry (Revenue in USD Million; 2016–2026)
Regional Outlook (Revenue in USD Million; 2016–2026)
Table of Contents
Chapter 1. Market Synopsis 1.1. Market Definition 1.2. Research Scope & Premise 1.3. Methodology 1.4. Market Estimation Technique
Chapter 2. Executive Summary 2.1. Summary Snapshot, 2018 – 2026
Chapter 3. Indicative Metrics 3.1. Rapid urbanization and global digitization. 3.2. Requirement for Reducing Authentication and Identification Costs. 3.3. Increase in the number of interface points like smartphones, tablets, laptops, etc.
Chapter 4. Voice Biometrics Segmentation & Impact Analysis 4.1. Voice Biometrics Segmentation Analysis 4.2. Voice Biometrics Market Value Chain Analysis, 2016-2026 4.3. Regulatory framework 4.4. Voice Biometrics Market Impact Analysis 4.4.1. Market driver analysis 4.4.1.1. Advent of technologies like AI, ML, cloud computing and Data Analytics 4.4.1.2. Increasing complexity of cyber-attacks creating a need for a stronger defense system. 4.4.2. Market restraint analysis 4.4.2.1. Stigma among SMEs against using cloud-based services. 4.5. Key opportunities prioritized 4.6. Voice Biometrics Pricing Analysis
Chapter 5. Voice Biometrics Market by Component Type Insights & Trends
Continued…..
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