Navigating Voice Biometrics Market: Size, Share, Growth Analysis, and Investment Opportunities

Comprehensive Research Report on Global Voice Biometrics Market Size, Share, and Growth Trends

The Global Voice Biometrics Market size was valued at around USD 2.53 billion in 2022 and is projected to grow at a CAGR of around 23.48% during the forecast period 2023-28. MarkNtel Advisors recently released a research report on the market, offering an inclusive & unbiased analysis of the industry dynamics. It highlights current market trends & consumer behavior and explores the cause-and-effect relationships between these trends.

With an extensive analysis substantiated with facts & figures, the report equips stakeholders with valuable insights to make well-informed decisions in order to stay ahead of the competition. The findings of the Voice Biometrics Market report are derived from a robust research strategy, which includes in-depth interviews with industry stakeholders, thorough secondary research, and reliable data sources, ensuring accuracy and reliability.

Discovering the Core Aspects of the Voice Biometrics Market Report: Structure, Size, Share, Growth Drivers, Segmentation, Opportunities, and Top Companies.

• Voice Biometrics Market Structure: This section presents valuable insights into the Voice Biometrics Industry, encompassing its services/products, segmentation analysis, and a comprehensive assessment of past, present, and future scenarios. Gain a deep understanding of market dynamics, growth drivers, challenges, and emerging trends.
• Voice Biometrics Market Size, Share, & Growth Projections: Access unbiased market data, including revenue, growth rate (CAGR), and a breakdown of Voice Biometrics market share. Leverage this data to make well-informed business decisions.
• Voice Biometrics Market Segmentation: Explore thoroughly researched information on each segment and its subcategories. Uncover insights into market share, growth potential, and trends within each segment.
• Voice Biometrics Market Geographical Data: Comprehend the geographical distribution of the market and the share held by each region. Analyze regional trends and identify potential opportunities.
• Voice Biometrics Market Growth Opportunities: Unearth emerging trends, innovative technologies, and untapped opportunities that have the potential to drive Voice Biometrics market growth.
• Voice Biometrics Market Company Outlook: Evaluate the competitive landscape with detailed information about leading companies, their products, financials, SWOT analysis, and recent developments.

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Key Segments & Sub-segments Derived in the Global Voice Biometrics Market Report

This section of the Global Voice Biometrics Market report provides stakeholders with an in-depth analysis of the industry, highlighting the market potential, demand, and growth prospects for each segment to help them tailor their strategies to specific market segments, allowing them to maximize their returns and gain a competitive advantage in the industry.

1. By Type

• Active Voice Biometrics
• Passive Voice Biometrics

2. By Deployment

• On-Premise
• Cloud

3. By Authentication Process

• Automated IVR
• Agent-Assisted
• Mobile Applications
• Employee Authentication

4. By Application

• Authentication and Customer Verification
• Forensic Voice Analysis and Criminal Investigation
• Fraud Detection and Prevention
• Risk and Emergency Management
• Transaction Processing
• Access Control
• Workforce Management
• Others (Vocal Passphrase, Speech Therapy, etc.)

5. By Vertical

• Banking, Financial Services, & Insurance (BFSI)
• Government
• Healthcare
• Retail & E-commerce
• IT & Telecommunication
• Transportation & Logistics
• Others (Education, Hospitality, etc.)

6. By Enterprise Size

• Large Enterprises
• Small & Medium Enterprises

Geographically, the Voice Biometrics market expands across:

• North America
• South America
• Europe
• Middle East & Africa
• Asia Pacific

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Competitive Projections, as per the Voice Biometrics Research Report

The research report on the Voice Biometrics Market comprises the notable mergers or acquisitions by the leading players in the Voice Biometrics industry, along with their recent product launches or services offered. The report compressively illuminates market strategies, profit-loss status, annual reports, and more. Top Voice Biometrics companies profiled in the study:

• Aculab Inc.
• Agnitio SL
• BioCatch Ltd
• LexisNexis Risk Solutions Inc.
• Nuance Communications Inc.
• One Vault
• Pindrop Security Inc.
• Phonexia SRO
• Product Portfolio
• Strategic Alliances or Partnerships
• Recent Developments
• Financial Details
• Others
• Uniphore Software Systems Pvt Ltd
• Verint Systems Inc.
• Voice Biometrics Group (VBG)
• VoicePass Technology
• ID R&D
• Others

Voice Biometrics Industry Development/Investment

• “LexisNexis® Risk Solutions, a division of RELX, has completed the acquisition of BehavioSec®, a leading provider of advanced behavioral biometrics technology. The addition of BehavioSec's solutions would bolster LexisNexis Risk Solutions' Business Services group & enhance its range of device & digital identity-focused offerings, including the renowned LexisNexis® ThreatMetrix® platform.”

Factors Shaping the Voice Biometrics Market Through 2028

Rising Demand for Robust Fraud Detection System across BFSI Sector – The banking industry has witnessed a rapid surge in fraudulent activities, such as theft of sensitive data & illegal access to customer's bank accounts, due to the digitalization of the sector. To address this critical issue, an additional layer of security is required within the financial authentication system, leading to the upscaled adoption of voice biometrics solutions to meet the specific needs of intelligently identifying users based on their unique voiceprints.

In addition, the BFSI industry has been expanding considerably over the past few years owing to several causes, including economic expansion of industrial sectors & growing demand for better access to financial services for both consumers & businesses. This expansion has resulted in the enhanced demand for better fraud detection services like voice biometrics, which augmented the market growth during 2018-22. Furthermore, the launch of digital banks has surged across countries like Germany, Brazil, Singapore, etc., due to regulatory support & the presence of supportive fin-tech ecosystems. For instance,

• In 2023, Intesa Sanpaolo SpA partnered with core banking technology provider 'Thought Machine' to launch a new digital bank, Isybank.

The surge in digital banks would accelerate the demand for voice biometrics as it would be required to strengthen the authentication for digital banking transactions.

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Key Questions Answered in the Voice Biometrics Market Research Report

• What are the Voice Biometrics Market size and growth projections during 2023-28?
• What is the regulatory framework and recent developments in the Voice Biometrics Market?
• Which segments or regions/countries are anticipated to emerge as an opportunistic area for the Voice Biometrics Market players?
• What are the key companies profiled in the Voice Biometrics Market research report?
• What are the latest trends and Voice Biometrics Market potential?

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