Edison, NJ -- (SBWIRE) -- 07/29/2020 -- Voice Biometrics is defined as the technology which is mainly used to verify a person's identity by their unique vocal attributes. It works via comparing a person's voice to a voiceprint which is stored on file. Increasing deployment by companies majorly in BFSI, retail, e-commerce, telecommunications and IT verticals are some of the major drivers which are propelling the growth of the market. The market for the voice biometrics is anticipated to register a CAGR of over 25.2% during the forecast period.
Global Voice Biometrics Market Report from AMA Research highlights deep analysis on market characteristics, sizing, estimates and growth by segmentation, regional breakdowns & country along with competitive landscape, players market shares, and strategies that are key in the market. The exploration provides a 360° view and insights, highlighting major outcomes of the industry. These insights help the business decision-makers to formulate better business plans and make informed decisions to improved profitability. In addition, the study helps venture or private players in understanding the companies in more detail to make better informed decisions.
Major Players in This Report Include,
Nuance Communications (United States), NICE (Israel), Verint (United States), AimBrain (United Kingdom), Voice Biometrics Group (United States), Phonexia (Czech Republic), OneVault (South Africa), SESTEK (Turkey), LumenVox (United States) and LexisNexis Risk Solutions (United States)
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Market Drivers
- Growing Demand for Robust Fraud Detection as well as Prevention Systems across the BFSI industry
- Need for Reducing Authentication and Identification Costs
- Mounting Impact of Artificial Intelligence (AI) on the Accuracy of Speech as well as Voice Recognition
- Growth in the Number of Voice Control-Based Smart Assistive Devices in Consumer as well as Enterprise Verticals
Market Trend
- Technology Advancement in Voice Biometrics Innovations
- Rising Demand for Voice Authentication Especially in Mobile Banking Applications
Restraints
- Security and Privacy Issues with New Advanced Technologies
- Low Cybersecurity Budget of Organizations and High Installation Costs
Opportunities
- Advent of Various advanced Technologies, such as AI, DNN, and others
- Need for safeguarding the privacy of healthcare data
Challenges
- Lack of Accuracy in Authenticating Users
- Lack of Technological Awareness, Privacy Issues, as well as Limited Technical Expertise
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In this research study, the prime factors that are impelling the growth of the Global Voice Biometrics market report have been studied thoroughly in a bid to estimate the overall value and the size of this market by the end of the forecast period. The impact of the driving forces, limitations, challenges, and opportunities has been examined extensively. The key trends that manage the interest of the customers have also been interpreted accurately for the benefit of the readers.
The Voice Biometrics market study is being classified by Type, Applications and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
The Global Voice Biometrics is segmented by Type (Active Voice Biometrics, Passive Voice Biometrics), Application (Access Control and Authentication, Fraud Detection and Prevention, Forensic Voice Analysis and Criminal Investigation, Others), Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), Industry Vertical (Banking, Financial Services, and Insurance, Retail and E-commerce, Telecommunications and IT, Government and Defense, Healthcare, Others), Component (Software, Services), Deployment Model (Cloud, On-Premises)
The report concludes with in-depth details on the business operations and financial structure of leading vendors in the Global Voice Biometrics market report, Overview of Key trends in the past and present are in reports that are reported to be beneficial for companies looking for venture businesses in this market. Information about the various marketing channels and well-known distributors in this market was also provided here. This study serves as a rich guide for established players and new players in this market.
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Current Scenario Analysis for Decision Framework
Key Strategic Developments in Voice Biometrics Market:
The research includes the key strategic activities such as Research & Development (R&D) initiatives, Merger & Acquisition (M&A) completed, agreements, new launches, collaborations, partnerships & (JV) Joint ventures, and regional growth of the key competitors operating in the market at global and regional scale to overcome current slowdown due to COVID-19.
Key Market Features in Global Voice Biometrics Market
The report highlights Voice Biometrics market features, including revenue size, weighted average regional price, capacity utilization rate, production rate, gross margins, consumption, import & export, demand & supply, cost bench-marking in Voice Biometrics, market share and annualized growth rate (Y-o-Y) and Periodic CAGR.
Extracts from Table of Contents
Global Voice Biometrics Market Research Report
Chapter 1 Global Voice Biometrics Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Revenue (Value, Volume*) by Region
Chapter 5 Global Supplies (Production), Consumption, Export, Import by Regions
Chapter 6 Global Revenue (Value, Volume*), Price* Trend by Type
Chapter 7 Global Market Analysis by Application
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This report also analyzes the regulatory framework of the Global Markets Voice Biometrics Market Report to inform stakeholders about the various norms, regulations, this can have an impact. It also collects in-depth information from the detailed primary and secondary research techniques analyzed using the most efficient analysis tools. Based on the statistics gained from this systematic study, market research provides estimates for market participants and readers.
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