Voice Biometrics Market: 5 Key Factors – Industry Segment, Top Companies, Geographical Reach, Opportunities, and Challenges

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MarkNtel Advisors, leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on The Global Voice Biometrics Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.

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Global Voice Biometrics Market Insights 2023-2028

The Global 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., 2023-28. 

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Top Players in the Voice Biometrics Market:

·       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 Biometrics Group (VBG)

·       VoicePass Technology

·       ID R&D

·       Others

Segmentation Analysis of Voice Biometrics Market

Voice Biometrics Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2023 to 2028, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.

·       By Type

o   Active Voice Biometrics

o   Passive Voice Biometrics

·       By Deployment

o   On-Premise

o   Cloud

·       By Authentication Process

o   Automated IVR

o   Agent-Assisted

o   Mobile Applications

o   Employee Authentication

·       By Application

o   Authentication and Customer Verification

o   Forensic Voice Analysis and Criminal Investigation

o   Fraud Detection and Prevention

o   Risk and Emergency Management

o   Transaction Processing

o   Access Control

o   Workforce Management

o   Others (Vocal Passphrase, Speech Therapy, etc.)

·       By Vertical

o   Banking, Financial Services, & Insurance (BFSI)

o   Government

o   Healthcare

o   Retail & E-commerce

o   IT & Telecommunication

o   Transportation & Logistics

o   Others (Education, Hospitality, etc.)

Based on Vertical: 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. Countries like the US, Canada, India, Japan, etc., are enhancing their healthcare expenditure to improve the integration of digital security in the healthcare sector. In 2021, according to the Center for Medicare and Medicaid Services in the US, national health spending is projected to grow at an average annual rate of around 5.1% from 2021-2030. This expenditure encompasses investments in IT & computing services as well & is aimed at improving the storage & protection of patient data.

·        By Enterprise Size

o   Large Enterprises

o   Small & Medium Enterprises

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A Comprehensive Geographical Analysis:

By Region

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

North American region is renowned for being an early adopter of cutting-edge technologies, like voice authentication, in numerous industries.

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We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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