Voice Biometric Market, By Type, By Deployment, By Vertical, By Geography

Description

Global voice biometric market is estimated to be valued at US$ 2.05 Bn in 2024 and is expected to reach US$ 5.94 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 16.4% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 2.05 Bn
Historical Data for:	2019 to 2023	Forecast Period:	2024 to 2031
Forecast Period 2024 to 2031 CAGR:	16.40%	2031 Value Projection:	US$ 5.94 Bn

Figure. Voice Biometric Market Share (%), By Region 2024

Global voice biometric market growth is driven by rising demand for secure authentication methods across various sectors. Voice biometrics utilizes an individual's unique voice characteristics and patterns to authenticate their identity. It captures diverse details from the voice like tone, pitch, pitch range, speech patterns, harmonics, and nasal quality to establish the voiceprint of an individual. Unlike traditional passwords and pin codes that can be stolen or forgotten, voice biometrics leverages the immutable and distinctive nature of human voices as a robust authentication mechanism. With rapid digital transformation and growing need for contactless identity verification, voice biometric technology is emerging as a convenient and secure alternative to passwords. Increasing use of voice assistants and smart speakers coupled with rising concerns over security and privacy can drive the market growth in the near future.

Market Dynamics:

Global voice biometric market growth is driven by rising demand for contactless and secure identity verification across various sectors. Voice biometrics offers a hands-free and hygienic authentication process as compared to fingerprints or iris scans. The COVID-19 pandemic has further accelerated the adoption of voice biometrics as organizations aim to implement secure and contactless authentication solutions. Furthermore, growing popularity of smart speakers, voice assistants, and virtual personal assistants boosts the need for voice biometric systems to secure these IoT devices. However, challenges in deploying voice biometrics technology in noisy environments and concerns over data privacy and security of voiceprints can hamper the market growth. Emergence of technologies like artificial intelligence and machine learning can offer new opportunities for market players. Advanced algorithms are helping vendors to improve the accuracy and efficacy of voice biometrics, thus, driving its adoption across new use cases.

Key features of the study:

This report provides in-depth analysis of the global voice biometric market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global voice biometric market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include Aculab Inc., Agnitio SL, Auraya Inc., BioCatch Ltd., LexisNexis Risk Solutions Inc., LumenVox LLC, NICE Ltd., Nuance Communications Inc., OneVault, Phonexia, Pindrop Security Inc., SayPay Technologies Inc., ValidSoft Ltd., Voice Biometrics Group (VBG), VoiceTrust Holding BV

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

Global voice biometric market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global voice biometric market

Detailed Segmentation:

By Type
- Active Biometrics
- Passive Biometrics
By Deployment
- Cloud-based
- On-premises
By Vertical
- BFSI
- Retail and E-commerce
- Government and Defense
- IT and Telecom
- Healthcare and Life Sciences
- Transportation and Logistics
- Travel and Hospitality
- Energy and Utilities
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Players Insights
- Aculab Inc.
- Agnitio SL
- Auraya Inc.
- BioCatch Ltd.
- LexisNexis Risk Solutions Inc.
- LumenVox LLC
- NICE Ltd.
- Nuance Communications Inc.
- OneVault
- Phonexia
- Pindrop Security Inc.
- SayPay Technologies Inc.
- ValidSoft Ltd.
- Voice Biometrics Group (VBG)
- VoiceTrust Holding BV

Product Code: CMI5167

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Type
- Market Snippet, By Deployment
- Market Snippet, By Vertical
- Market Snippet, By Region

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of COVID-19 Pandemic

4. Global Voice Biometric Market, By Type, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Active Biometrics
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Passive Biometrics
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

5. Global Voice Biometric Market, By Deployment, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Cloud-based
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
On-premises
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

6. Global Voice Biometric Market, By Vertical, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
BFSI
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Retail and E-commerce
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Government and Defense
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
IT and Telecom
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Healthcare and Life Sciences
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Transportation and Logistics
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Travel and Hospitality
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Energy and Utilities
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Others
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

7. Global Voice Biometric Market, By Region, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
North America
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Deployment, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Vertical, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - U.S.
  - Canada
Europe
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Deployment, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Vertical, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
Asia Pacific
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Deployment, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Vertical, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Latin America
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Deployment, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Vertical, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Middle East & Africa
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Deployment, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Vertical, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - South Africa
  - Israel
  - GCC Countries
  - Rest of the Middle East & Africa

8. Competitive Landscape

Company Profiles
- Aculab Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Agnitio SL
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Auraya Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- BioCatch Ltd.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- LexisNexis Risk Solutions Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- LumenVox LLC
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- NICE Ltd.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Nuance Communications Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- OneVault
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Phonexia
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Pindrop Security Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- SayPay Technologies Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- ValidSoft Ltd.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Voice Biometrics Group (VBG)
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- VoiceTrust Holding BV
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. Research Methodology

References
Research Methodology
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