Product Code: 139136-07-22
The Rising Need for Robust Security Solution is Driving the Growth of Voice Biometrics Market
Globally, the voice biometrics market is expected to grow with a CAGR of 18.5% during the forecast period from 2022 to 2030. The market is driven by the rising need among the organizations to establish efficient and secure methods for data protection and safety. The organizations are swiftly shifting towards the digital business models, and embracing the enterprise mobility solutions and BYOD policies to improve operational efficiency. As a result, employees are using their personal devices to access sensitive business information. However, this could also make the organizations more vulnerable to the cyber-attacks due to lack of security measures. To address these challenges, the organizations are looking for more advance and efficient ways for enhancing their safety. This is driving the demand for the voice biometrics among the organizations.
The advancement in the biometric technology over the past decade is also acting as one of the major driver for the growth of the market. The integration of Artificial Intelligence and Deep Neural Network (DNN) into the biometric to enhance speaker recognition capabilities is driving the market. Furthermore, the growing need among the healthcare institutes for the safeguarding the data is also accelerating the market growth. However, lack of accuracy in authenticating users is acting as a major challenge in the growth of the market. Moreover, the low cyber-security budget of the organizations is also hindering the market growth.
Services is Estimated to Grow Significantly During the Forecast Period
The voice biometrics market is segmented based on the component into software and services. The software segment accounted for more than 78% share in the revenue in 2021. The market growth is credited to the growing need among the organization to establish convenient, faster and effective user authentication solution. Furthermore, the rising number of online transactions and internet activities is further driving the demand for software market. On the other hand, services market is estimated to grow substantially during the forecast period.
North America is Leading the Voice Biometrics Market
North America led the global voice biometrics market in 2021 with a market share of more than 42%. The increasing adoption of the advance technologies such as cloud computing, AI and Big Data are serving as a major driver for the growth of the market. The growing incidences of the data leakages and cyber-attacks in the region are further encouraging the adoption of adoption of voice biometric solution among the organizations.
The major vendors in the voice biometrics market are AimBrain, Aculab, Auraya, LumenVox, LexisNexis Risk Solutions, Voice Biometrics Group, NICE, OneVault, Verint, Nuance Communications, Phonexia, Sestek, Pindrop, Uniphore, and VoicePIN.
Historical & Forecast Period:
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Voice Biometrics market are as follows:
Research and development budgets of manufacturers and government spending
Revenues of key companies in the market segment
Number of end users and consumption volume, price and value.
Geographical revenues generate by countries considered in the report
Micro and macro environment factors that are currently influencing the Voice Biometrics market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
ATTRIBUTE DETAILS
Research Period 2020-2030
Base Year 2021
Forecast Period 2022-2030
Historical Year 2020
Unit USD Million
Segmentation
Component
Software
Service
Professional Service
Managed Service
Type
Active VB
Passive VB
Deployment
On-Premise
Cloud
Application
Access Control and Authentication
Fraud Detection and Preventive
Forensic Voice Analysis and Criminal Investigation
Others
End-Use
BFSI
Retail & E-commerce
Government and Defense
Healthcare
Telecom & IT
Others
Region Segment (2020-2030; US$ Million)
North America
U.S.
Canada
Rest of North America
UK and European Union
UK
Germany
Spain
Italy
France
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC
Africa
Rest of Middle East and Africa
Global Impact of COVID-19 Segment (2020-2021; US$ Million )
Pre COVID-19 situation
Post COVID-19 situation
Key questions answered in this report:
What are the key micro and macro environmental factors that are impacting the growth of Voice Biometrics market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2030.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Voice Biometrics market?
Which is the largest regional market for Voice Biometrics market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Voice Biometrics market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Voice Biometrics market worldwide?
Table of Contents
1. Preface
- 1.1. Report Description
- 1.1.1. Purpose of the Report
- 1.1.2. Target Audience
- 1.1.3. Key Offerings
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.3.1. Phase I - Secondary Research
- 1.3.2. Phase II - Primary Research
- 1.3.3. Phase III - Expert Panel Review
- 1.3.4. Assumptions
- 1.3.5. Approach Adopted
2. Executive Summary
- 2.1. Market Snapshot: Global Voice Biometrics Market
- 2.2. Global Voice Biometrics Market, By Component, 2021 (US$ Million)
- 2.3. Global Voice Biometrics Market, By Type, 2021 (US$ Million)
- 2.4. Global Voice Biometrics Market, By Deployment, 2021 (US$ Million)
- 2.5. Global Voice Biometrics Market, By Application, 2021 (US$ Million)
- 2.6. Global Voice Biometrics Market, By End-Use, 2021 (US$ Million)
- 2.7. Global Voice Biometrics Market, By Geography, 2021 (US$ Million)
- 2.8. Impact of Covid 19
- 2.9. Attractive Investment Proposition by Geography, 2021
- 2.10. Competitive Analysis
- 2.10.1. Market Positioning of Key Voice Biometrics Market Vendors
- 2.10.2. Strategies Adopted by Voice Biometrics Market Vendors
- 2.10.3. Key Industry Strategies
3. Voice Biometrics Market: Business Outlook & Market Dynamics
- 3.1. Introduction
- 3.2. Global Voice Biometrics Market Value, 2020 - 2030, (US$ Million)
- 3.3. Market Dynamics
- 3.3.1. Market Drivers
- 3.3.2. Market Restraints
- 3.3.3. Key Challenges
- 3.3.4. Key Opportunities
- 3.4. Impact Analysis of Drivers and Restraints
- 3.5. See-Saw Analysis
- 3.6. Porter's Five Force Model
- 3.6.1. Supplier Power
- 3.6.2. Buyer Power
- 3.6.3. Threat Of Substitutes
- 3.6.4. Threat Of New Entrants
- 3.6.5. Competitive Rivalry
- 3.7. PESTEL Analysis
- 3.7.1. Political Landscape
- 3.7.2. Economic Landscape
- 3.7.3. Technology Landscape
- 3.7.4. Legal Landscape
- 3.7.5. Social Landscape
4. Voice Biometrics Market: By Component, 2020-2030, USD (Million)
- 4.1. Market Overview
- 4.2. Growth & Revenue Analysis: 2021 Versus 2030
- 4.3. Market Segmentation
- 4.3.1. Software
- 4.3.2. Service
- 4.3.2.1. Professional Service
- 4.3.2.2. Managed Service
5. Voice Biometrics Market: By Type, 2020-2030, USD (Million)
- 5.1. Market Overview
- 5.2. Growth & Revenue Analysis: 2021 Versus 2030
- 5.3. Market Segmentation
- 5.3.1. Active VB
- 5.3.2. Passive VB
6. Voice Biometrics Market: By Deployment, 2020-2030, USD (Million)
- 6.1. Market Overview
- 6.2. Growth & Revenue Analysis: 2021 Versus 2030
- 6.3. Market Segmentation
- 6.3.1. On-Premise
- 6.3.2. Cloud
7. Voice Biometrics Market: By Application, 2020-2030, USD (Million)
- 7.1. Market Overview
- 7.2. Growth & Revenue Analysis: 2021 Versus 2030
- 7.3. Market Segmentation
- 7.3.1. Access Control and Authentication
- 7.3.2. Fraud Detection and Preventive
- 7.3.3. Forensic Voice Analysis and Criminal Investigation
- 7.3.4. Others
8. Voice Biometrics Market: By End-Use, 2020-2030, USD (Million)
- 8.1. Market Overview
- 8.2. Growth & Revenue Analysis: 2021 Versus 2030
- 8.3. Market Segmentation
- 8.3.1. BFSI
- 8.3.2. Retail & E-commerce
- 8.3.3. Government and Defense
- 8.3.4. Healthcare
- 8.3.5. Telecom & IT
- 8.3.6. Others
9. North America Voice Biometrics Market, 2020-2030, USD (Million)
- 9.1. Market Overview
- 9.2. Voice Biometrics Market: By Component, 2020-2030, USD (Million)
- 9.3. Voice Biometrics Market: By Type, 2020-2030, USD (Million)
- 9.4. Voice Biometrics Market: By Deployment, 2020-2030, USD (Million)
- 9.5. Voice Biometrics Market: By Application, 2020-2030, USD (Million)
- 9.6. Voice Biometrics Market: By End-Use, 2020-2030, USD (Million)
- 9.7.Voice Biometrics Market: By Region, 2020-2030, USD (Million)
- 9.7.1.North America
- 9.7.1.1. U.S.
- 9.7.1.2. Canada
- 9.7.1.3. Rest of North America
10. UK and European Union Voice Biometrics Market, 2020-2030, USD (Million)
- 10.1. Market Overview
- 10.2. Voice Biometrics Market: By Component, 2020-2030, USD (Million)
- 10.3. Voice Biometrics Market: By Type, 2020-2030, USD (Million)
- 10.4. Voice Biometrics Market: By Deployment, 2020-2030, USD (Million)
- 10.5. Voice Biometrics Market: By Application, 2020-2030, USD (Million)
- 10.6. Voice Biometrics Market: By End-Use, 2020-2030, USD (Million)
- 10.7.Voice Biometrics Market: By Region, 2020-2030, USD (Million)
- 10.7.1.UK and European Union
- 10.7.1.1. UK
- 10.7.1.2. Germany
- 10.7.1.3. Spain
- 10.7.1.4. Italy
- 10.7.1.5. France
- 10.7.1.6. Rest of Europe
11. Asia Pacific Voice Biometrics Market, 2020-2030, USD (Million)
- 11.1. Market Overview
- 11.2. Voice Biometrics Market: By Component, 2020-2030, USD (Million)
- 11.3. Voice Biometrics Market: By Type, 2020-2030, USD (Million)
- 11.4. Voice Biometrics Market: By Deployment, 2020-2030, USD (Million)
- 11.5. Voice Biometrics Market: By Application, 2020-2030, USD (Million)
- 11.6. Voice Biometrics Market: By End-Use, 2020-2030, USD (Million)
- 11.7.Voice Biometrics Market: By Region, 2020-2030, USD (Million)
- 11.7.1.Asia Pacific
- 11.7.1.1. China
- 11.7.1.2. Japan
- 11.7.1.3. India
- 11.7.1.4. Australia
- 11.7.1.5. South Korea
- 11.7.1.6. Rest of Asia Pacific
12. Latin America Voice Biometrics Market, 2020-2030, USD (Million)
- 12.1. Market Overview
- 12.2. Voice Biometrics Market: By Component, 2020-2030, USD (Million)
- 12.3. Voice Biometrics Market: By Type, 2020-2030, USD (Million)
- 12.4. Voice Biometrics Market: By Deployment, 2020-2030, USD (Million)
- 12.5. Voice Biometrics Market: By Application, 2020-2030, USD (Million)
- 12.6. Voice Biometrics Market: By End-Use, 2020-2030, USD (Million)
- 12.7.Voice Biometrics Market: By Region, 2020-2030, USD (Million)
- 12.7.1.Latin America
- 12.7.1.1. Brazil
- 12.7.1.2. Mexico
- 12.7.1.3. Rest of Latin America
13. Middle East and Africa Voice Biometrics Market, 2020-2030, USD (Million)
- 13.1. Market Overview
- 13.2. Voice Biometrics Market: By Component, 2020-2030, USD (Million)
- 13.3. Voice Biometrics Market: By Type, 2020-2030, USD (Million)
- 13.4. Voice Biometrics Market: By Deployment, 2020-2030, USD (Million)
- 13.5. Voice Biometrics Market: By Application, 2020-2030, USD (Million)
- 13.6. Voice Biometrics Market: By End-Use, 2020-2030, USD (Million)
- 13.7.Voice Biometrics Market: By Region, 2020-2030, USD (Million)
- 13.7.1.Middle East and Africa
- 13.7.1.1. GCC
- 13.7.1.2. Africa
- 13.7.1.3. Rest of Middle East and Africa
14. Company Profile
- 14.1. Aculab
- 14.1.1. Company Overview
- 14.1.2. Financial Performance
- 14.1.3. Product Portfolio
- 14.1.4. Strategic Initiatives
- 14.2. AimBrain
- 14.2.1. Company Overview
- 14.2.2. Financial Performance
- 14.2.3. Product Portfolio
- 14.2.4. Strategic Initiatives
- 14.3. Auraya
- 14.3.1. Company Overview
- 14.3.2. Financial Performance
- 14.3.3. Product Portfolio
- 14.3.4. Strategic Initiatives
- 14.4. LexisNexis Risk Solution
- 14.4.1. Company Overview
- 14.4.2. Financial Performance
- 14.4.3. Product Portfolio
- 14.4.4. Strategic Initiatives
- 14.5. LumenVox
- 14.5.1. Company Overview
- 14.5.2. Financial Performance
- 14.5.3. Product Portfolio
- 14.5.4. Strategic Initiatives
- 14.6. NICE
- 14.6.1. Company Overview
- 14.6.2. Financial Performance
- 14.6.3. Product Portfolio
- 14.6.4. Strategic Initiatives
- 14.7. Verint
- 14.7.1. Company Overview
- 14.7.2. Financial Performance
- 14.7.3. Product Portfolio
- 14.7.4. Strategic Initiatives
- 14.8. Nuance Communications
- 14.8.1. Company Overview
- 14.8.2. Financial Performance
- 14.8.3. Product Portfolio
- 14.8.4. Strategic Initiatives
- 14.9. OneVault
- 14.9.1. Company Overview
- 14.9.2. Financial Performance
- 14.9.3. Product Portfolio
- 14.9.4. Strategic Initiatives
- 14.10. Phonexia
- 14.10.1. Company Overview
- 14.10.2. Financial Performance
- 14.10.3. Product Portfolio
- 14.10.4. Strategic Initiatives
- 14.11. Pindrop
- 14.11.1. Company Overview
- 14.11.2. Financial Performance
- 14.11.3. Product Portfolio
- 14.11.4. Strategic Initiatives
- 14.12. Sestek
- 14.12.1. Company Overview
- 14.12.2. Financial Performance
- 14.12.3. Product Portfolio
- 14.12.4. Strategic Initiatives
- 14.13. Uniphore
- 14.13.1. Company Overview
- 14.13.2. Financial Performance
- 14.13.3. Product Portfolio
- 14.13.4. Strategic Initiatives
- 14.14. VB Group
- 14.14.1. Company Overview
- 14.14.2. Financial Performance
- 14.14.3. Product Portfolio
- 14.14.4. Strategic Initiatives
- 14.15. VoicePIN
- 14.15.1. Company Overview
- 14.15.2. Financial Performance
- 14.15.3. Product Portfolio
- 14.15.4. Strategic Initiatives