MarkNtel Advisors recently published a detailed industry analysis of the Global Voice Biometrics Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Global Voice Biometrics Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030

The Voice Biometrics Market size was valued at around USD 2.53 billion in 2022 and is estimated to grow at a CAGR of about 23.48% during the forecast period, i.e., 2025-30.

Key Findings in Global Voice Biometrics Market:

• Historical Analysis: 2020–2023
• Base Year: 2024
• Forecast Period: 2025–2030

Leading Market Players- Aculab Inc., Agnitio SL, BioCatch Ltd, LexisNexis Risk Solutions Inc., Nuance Communications Inc., One Vault, Pindrop Security Inc., Phonexia SRO, Uniphore Software Systems Pvt Ltd, Verint Systems Inc., Voice Biometricss Group [VBG], VoicePass Technology, ID R&D, Others

Key Highlights of the Report

• Market Dimensions & Projections
• Pricing Evaluation,
• Recent Strategic Moves by Companies,
• Primary Stakeholders,
• Analysis of Import and Export Trends,
• Competitive Landscape Assessment,
• Emerging Opportunities,
• Market Trends and Indicators

What are the major Driver the Global Voice Biometrics industry?

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 2019-22. 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 company '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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What segments define the Global Voice Biometrics Market from 2025 to 2030? How do these segments contribute to market dynamics and growth?

By Type

• • Active Voice Biometrics - Market Size & Forecast 2020-2030, (USD Million)
  • Passive Voice Biometrics - Market Size & Forecast 2020-2030, (USD Million)

By Deployment

• • On-Premise - Market Size & Forecast 2020-2030, (USD Million)
  • Cloud - Market Size & Forecast 2020-2030, (USD Million)

By Authentication Process

• • Automated IVR- Market Size & Forecast 2020-2030, (USD Million)
  • Agent-Assisted - Market Size & Forecast 2020-2030, (USD Million)
  • Mobile Applications - Market Size & Forecast 2020-2030, (USD Million)
  • Employee Authentication - Market Size & Forecast 2020-2030, (USD Million)

By Application

• • Authentication and Customer Verification - Market Size & Forecast 2020-2030, (USD Million)
  • Forensic Voice Analysis and Criminal Investigation - Market Size & Forecast 2020-2030, (USD Million)
  • Fraud Detection and Prevention - Market Size & Forecast 2020-2030, (USD Million)
  • Risk and Emergency Management - Market Size & Forecast 2020-2030, (USD Million)
  • Transaction Processing - Market Size & Forecast 2020-2030, (USD Million)
  • Access Control - Market Size & Forecast 2020-2030, (USD Million)
  • Workforce Management - Market Size & Forecast 2020-2030, (USD Million)
  • Others (Vocal Passphrase, Speech Therapy, etc.) - Market Size & Forecast 2020-2030, (USD Million)

According to report, The adoption of voice biometrics for Authentication & Customer Verification has registered substantial growth due to its significant adoption in public services, healthcare, and e-commerce.

By Vertical

• • Banking, Financial Services, & Insurance (BFSI)- Market Size & Forecast 2020-2030, (USD Million)
  • Government - Market Size & Forecast 2020-2030, (USD Million)
  • Healthcare- Market Size & Forecast 2020-2030, (USD Million)
  • Retail & E-commerce- Market Size & Forecast 2020-2030, (USD Million)
  • IT & Telecommunication - Market Size & Forecast 2020-2030, (USD Million)
  • Transportation & Logistics - Market Size & Forecast 2020-2030, (USD Million)
  • Others (Education, Hospitality, etc.) - Market Size & Forecast 2020-2030, (USD Million)

According to report, The Healthcare segment experienced an increasing demand for voice biometrics solutions & is predicted to grasp a substantial market share due to the mandatory protection of sensitive data related to the consumer’s health.

By Enterprise Size

• • Large Enterprises - Market Size & Forecast 2020-2030, (USD Million)
  • Small & Medium Enterprises- Market Size & Forecast 2020-2030, (USD Million)

Explore the Complete Global Voice Biometrics Market Analysis Report – https://www.marknteladvisors.com/research-library/voice-biometrics-market.html

Geographical Analysis: Global Voice Biometrics Market

 By Region

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

The Global Voice Biometrics Industry Recent Development:

• 2022: 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.
• 2022: Nuance Communications, Inc. (NASDAQ: NUAN) has expanded its strategic partnership with Genesys®, enabling Genesys Cloud CX™ customers to seamlessly integrate Nuance Contact Center AI into their operations. This collaboration empowers Genesys Cloud CX users to leverage Nuance's advanced technology, including conversational virtual assistants for voice & digital channels, as well as biometrics-based authentication & fraud prevention solutions to enhance their customer experience.

Key Questions Addressed in This Study

• What are the primary factors driving the growth of the Global Voice Biometrics Market?
• How is the Global Voice Biometrics Market expected to evolve over the next five years?
• What key insights can be drawn from current trends shaping the market?
• What is the current market size, and how is it forecasted to change in the coming years?
• What is the future outlook for the market in terms of technological innovation and geographic expansion?

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Why MarkNtel Advisors?

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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