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Voice Biometrics Market Size – USD 972.4 Million in 2019, Market Growth - CAGR of 23.6%, Market trends – Growing demand from BFSI and Healthcare sectors.

VANCOUVER, BC, CANADA, April 27, 2022 /EINPresswire.com/ -- The Global Voice Biometrics Market Report offers extensive knowledge and information about the Voice Biometrics market pertaining to market size, market share, growth influencing factors, opportunities, and current and emerging trends.

The global Voice Biometrics Market is forecasted to be worth USD 4.90 Billion by 2027, according to a new report by Emergen Research. The market is witnessing high demand owing to the rise in advancement in software and hardware. Rapid urbanization and adoption of digital technology in industries like Telecommunications and IT, BFSI, Government, and Defense will drive the demand for the voice biometric. The proliferation of digital devices in everyday activities has created a need for advanced protection solutions. Some of the commonly used biometric technology are radio networks, mobile phones and landlines, virtual private networks, voice over IP networks, and microphones.

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The report discusses in detail the growth opportunities, challenges, market drivers and restraints, limitations, threats, and demands of the Voice Biometrics market. The study further assesses the regional market as well as the international market to garner an insight into the scope of the market. The report also offers estimations and predictions about the market segment and sub-segments exhibiting promising growth in the forecast timeline. The report also provides deeper insights into the technological advancements, industrial landscape, and emerging product and technological developments in the Voice Biometrics market. It offers fruitful insights into the business sphere to help businesses capitalize on the lucrative growth opportunities.

Some Key Highlights from the Report

LumenVox, in January 2020, launched an advanced suite of voice biometric authentication technologies, naming them Version 8. This technology implements AI and biometrics to authenticate customer-agent interaction.

The Access Control and Authentication dominated the market for voice biometrics. The high level of awareness among organizations regarding the confidentiality of their data and the need to protect from malware targeted cyber-attacks while using cloud computing services will drive the segment’s demand.

The cloud deployment type held the largest market share of 57.4% in the year 2019. The benefits provided by cloud-like data accessibility, quick implementation, lower cost, and 24x7 availability will foster the demand for voice biometrics.

Large Enterprises are rapidly adopting biometric voice technology as they recognize the importance of technology. Several BFSI giants have started to deploy in their security infrastructure as they deem it necessary.

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The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry. It also covers strategies adopted by prominent players such as mergers and acquisitions, collaborations, joint ventures, product launches, and brand promotions, among others. The report aims to offer the readers a holistic understanding of the relevant features of the industry.

Key Players Profiled in the Report are: Verint, Nuance Communications, Pindrop, Acculab, NICE, Phonexia, Auraya, VoicePIN, LumenVox, and SESTEK, among others.

Furthermore, the report provides a comprehensive overview of the Voice Biometrics market along with product portfolio and market performance. The report offers key insights into market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns. To gain a better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.

Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Voice Biometrics market expected to boost the growth of the industry in the coming years.

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For the purpose of this report, Emergen Research has segmented into the global Voice Biometrics Market on the basis of component, type, application, organization size, deployment type, industry vertical, and region:

Component Outlook (Revenue, USD Billion; 2017-2027)

Software

Services

Professional Services

Training and Education

Consulting

Support and Maintenance

Deployment and Integration

Managed Services

Type Outlook (Revenue, USD Billion; 2017-2027)

Passive Voice Biometrics

Active Voice Biometrics

Application Outlook (Revenue, USD Billion; 2017-2027)

Fraud Detection and Prevention

Access Control and Authentication

Forensic Voice Analysis and Criminal Investigation

Other

Organization Size Outlook (Revenue, USD Billion; 2017-2027)

Large Enterprises

Small and Medium-Sized Enterprises

Deployment Type Outlook (Revenue, USD Billion; 2017-2027)

Cloud

On-Premises

Industry Vertical Outlook (Revenue, USD Billion; 2017-2027)

Retail and eCommerce

Government and Defense

Banking, Financial Services, and Insurance

Telecommunications and IT

Healthcare

Others

Key Questions Answered in the Report:

What is the growth rate of the Voice Biometrics market? What is the anticipated market valuation of Voice Biometrics industry by 2028?

What are the key growth driving and restraining factors of the Voice Biometrics market?

Who are the prominent players operating in the market? What are the key strategies adopted by these companies?

What are the key opportunities and growth prospects of the Voice Biometrics industry over the forecast period?

Which region is expected to show significant growth in the coming years?

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Regional Outlook of Fiber Optics Market:

North America (US, Canada, Mexico, etc.)

Europe (Germany, UK, France, Italy, Russia, Spain, etc.)

Asia Pacific (China, Japan, South Korea, India, Australia, Southeast Asia, etc.)

South America (Brazil, Argentina, Colombia, Chile, etc.)

Middle East and Africa (South Africa, Egypt, Nigeria, Saudi Arabia, etc.)

Thank you for reading our report. Please connect with us to know more about the report or for requesting the customization of the report. Our team will ensure the report is best suited to your requirements.

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