Voice Biometric Market Synopsis:
Voice Biometric Market Size Was Valued at USD 5.33 Billion in 2023, and is Projected to Reach USD 6.14 Billion by 2032, Growing at a CAGR of 1.58 % From 2024-2032.
The voice biometric market can be defined as the market of products that is based on the, application of high technologies in order to identify and confirm the identity of the clients according to their distinctive features of the human voice. This market employs voice pattern, tone, pitch, frequency, vocal quality, accent, branding and other attributes for identity authentication purposes including but not limited to security access, fraud prevention and customer self-service. Thus, voice biometrics has become one of the important elements of today’s multifaceted authentication since voice-based systems dominate the secure digital environments.
Thus the market for voice biometrics continues to grow rapidly as organizations seek more contactless authentication solutions in banking and financial, healthcare, and governmental sectors. With the increasing cases of cyber fraud and identity theft, companies are embracing voice biometrics as a sure bet and excellent way for consumers. Mobile technology, mainly in smartphones, along with IoT voice-enabled devices is another factor increasing market acceptance in both individual and professional applications.
Further, with the advancement of technology in voice biometric in AI and machine learning make the system more precise and accurate. Banks and governments are spending a lot in voice biometric solutions as a measure for security and efficiency. Market growth is also being stimulated by the voices of virtual assistants that are dependant on safe voice identification.
Voice Biometric Market Trend Analysis:
AI-Driven Voice Biometrics Transforming the Market
- Artificial intelligence (AI) integration in voice biometrics is amongst the revolutionizing trends that have emerged in the sector. AI refines the results of voice authentication by studying complex patterns of human voice and separating significant sounds within a noisy environment or concerning different dialects. An important advantage of using AI in video identification is the ability of systems to identify spoofing attempts with the help of professional liveness detection. Further, augmenting of voice biometric by Artificial Intelligence is making possible the concept of continuous authentication where the user identity is constantly checked in an interaction and it is particularly suitable for banking and customer services.
Expanding Applications in Financial Services
- Business banking services offer the largest potential for the growth of voice biometrics. With fraud and cyber threats growing, banks and financial institutions are also extending their use of voice biometrics for customer identification. These solutions are being implemented to support seamless identity check in mobile banking, phone banking and as anti-fraud measure. The pervasiveness of the handling of digital payments in emergent markets acts as a catalyst for the need for better authentication – hence the future expansion of investments in voice biometrics.
Voice Biometric Market Segment Analysis:
Voice Biometric Market Segmented on the basis of Technology, Application, Industry Vertical, and Region.
By Technology, Text-dependent voice biometrics segment is expected to dominate the market during the forecast period
- Among the two segments, the text-dependent voice biometrics segment is expected to hold the largest market share over the forecast period. Text-dependent is safer and more accurate in comparison with text-prompted systems because the users are compelled to say a particular phrase to be verified. Such systems are commonly used in such sectors such as the banking and the telecommunications sector due to the increased need of security on information. Text-dependency solutions are preferred where the process needs to be simple and easy like mobile banking authentication and call center fraud detection.
By Application, the Authentication segment expected to held the largest share
- The authentication segment is projected to be adopted by the biggest market share in the near future. Voiceprints for biometric authentication find extensive usage in protecting access to a system, an application, and/or a physical location. This segment has become popular in industries that require identification checks such as; finance, government, and healthcare industries. The expanding use of voice biometrics for customer service as well as security saves customers time as well as increases authentication segment’s share.
Voice Biometric Market Regional Insights:
North America is Expected to Dominate the Market Over the Forecast period
- North America is expected to dominate the voice biometrics market due to factors such as the development of the communication technology, enhanced customer awareness of the digital security. This popularity led by the adoption of voice based authentication in banking, healthcare and government sectors makes North America as one of the largest markets. The participation of important market actors coupled with strong focus on investment on the research and development has enhanced the region leadership.
- As shown in the analysis, the United States has the largest usage and is a key country in technology usage across industries including the financial sector and e-commerce. Smart-speakers and voice assistants, which apply voice biometrics, among the drivers to the market growth. Its use is also growing gradually in Canada, especially in such areas as healthcare and call centers, where proper and reliable identity check is valuable. North America will continue to dominate the markets for voice biometrics because of the gradual progress made in AI and machine learning technologies.
Active Key Players in the Voice Biometric Market:
- Aculab (United Kingdom)
- Agnitio SL (Spain)
- Auraya Systems (Australia)
- Biometric Vox (Spain)
- Cisco Systems Inc. (United States)
- Daon Inc. (United States)
- ID R&D (United States)
- Intersec Group (France)
- LumenVox LLC (United States)
- Nuance Communications, Inc. (United States)
- Phonexia (Czech Republic)
- SESTEK (Turkey)
- Sensory Inc. (United States)
- ValidSoft UK Ltd. (United Kingdom)
- VoicePIN.com (Poland)
- Other Active Players
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Voice Biometric Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
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Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 5.33 Billion |
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Forecast Period 2024-32 CAGR: |
1.58 % |
Market Size in 2032: |
USD 6.14 Billion |
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Segments Covered: |
By Technology |
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By Application |
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By Industry Vertical |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter's Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Voice Biometric Market by By Technology (2018-2032)
4.1 Voice Biometric Market Snapshot and Growth Engine
4.2 Market Overview
4.3 Text-Dependent Voice Biometrics
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
4.3.3 Key Market Trends, Growth Factors, and Opportunities
4.3.4 Geographic Segmentation Analysis
4.4 Text-Independent Voice Biometrics
Chapter 5: Voice Biometric Market by By Application (2018-2032)
5.1 Voice Biometric Market Snapshot and Growth Engine
5.2 Market Overview
5.3 Authentication
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
5.3.3 Key Market Trends, Growth Factors, and Opportunities
5.3.4 Geographic Segmentation Analysis
5.4 Fraud Detection
5.5 Customer Service
5.6 Access Control
5.7 Healthcare
Chapter 6: Voice Biometric Market by By Industry Vertical (2018-2032)
6.1 Voice Biometric Market Snapshot and Growth Engine
6.2 Market Overview
6.3 Financial Services
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
6.3.3 Key Market Trends, Growth Factors, and Opportunities
6.3.4 Geographic Segmentation Analysis
6.4 Telecommunications
6.5 Healthcare
6.6 Government
6.7 Retail
Chapter 7: Company Profiles and Competitive Analysis
7.1 Competitive Landscape
7.1.1 Competitive Benchmarking
7.1.2 Voice Biometric Market Share by Manufacturer (2024)
7.1.3 Industry BCG Matrix
7.1.4 Heat Map Analysis
7.1.5 Mergers and Acquisitions
7.2 ALADDIN KNOWLEDGE SYSTEMS (ISRAEL)
7.2.1 Company Overview
7.2.2 Key Executives
7.2.3 Company Snapshot
7.2.4 Role of the Company in the Market
7.2.5 Sustainability and Social Responsibility
7.2.6 Operating Business Segments
7.2.7 Product Portfolio
7.2.8 Business Performance
7.2.9 Key Strategic Moves and Recent Developments
7.2.10 SWOT Analysis
7.3 CODEMETER (GERMANY)
7.4 CRYPTOVISION (GERMANY)
7.5 EUTRON (ITALY)
7.6 GEMALTO (NETHERLANDS)
7.7 HASP (ISRAEL)
7.8 HID GLOBAL (UNITED STATES)
7.9 KEYLOK (UNITED STATES)
7.10 MICROCOSM (RUSSIA)
7.11 RAINBOW TECHNOLOGIES (UNITED STATES)
7.12 SAFENET INC. (UNITED STATES)
7.13 SENSELOCK (CHINA)
7.14 THALES GROUP (FRANCE)
7.15 WIBU-SYSTEMS (GERMANY)
7.16 WIBUKEY (GERMANY)
7.17 OTHER ACTIVE PLAYERS
Chapter 8: Global Voice Biometric Market By Region
8.1 Overview
8.2. North America Voice Biometric Market
8.2.1 Key Market Trends, Growth Factors and Opportunities
8.2.2 Top Key Companies
8.2.3 Historic and Forecasted Market Size by Segments
8.2.4 Historic and Forecasted Market Size By By Technology
8.2.4.1 Text-Dependent Voice Biometrics
8.2.4.2 Text-Independent Voice Biometrics
8.2.5 Historic and Forecasted Market Size By By Application
8.2.5.1 Authentication
8.2.5.2 Fraud Detection
8.2.5.3 Customer Service
8.2.5.4 Access Control
8.2.5.5 Healthcare
8.2.6 Historic and Forecasted Market Size By By Industry Vertical
8.2.6.1 Financial Services
8.2.6.2 Telecommunications
8.2.6.3 Healthcare
8.2.6.4 Government
8.2.6.5 Retail
8.2.7 Historic and Forecast Market Size by Country
8.2.7.1 US
8.2.7.2 Canada
8.2.7.3 Mexico
8.3. Eastern Europe Voice Biometric Market
8.3.1 Key Market Trends, Growth Factors and Opportunities
8.3.2 Top Key Companies
8.3.3 Historic and Forecasted Market Size by Segments
8.3.4 Historic and Forecasted Market Size By By Technology
8.3.4.1 Text-Dependent Voice Biometrics
8.3.4.2 Text-Independent Voice Biometrics
8.3.5 Historic and Forecasted Market Size By By Application
8.3.5.1 Authentication
8.3.5.2 Fraud Detection
8.3.5.3 Customer Service
8.3.5.4 Access Control
8.3.5.5 Healthcare
8.3.6 Historic and Forecasted Market Size By By Industry Vertical
8.3.6.1 Financial Services
8.3.6.2 Telecommunications
8.3.6.3 Healthcare
8.3.6.4 Government
8.3.6.5 Retail
8.3.7 Historic and Forecast Market Size by Country
8.3.7.1 Russia
8.3.7.2 Bulgaria
8.3.7.3 The Czech Republic
8.3.7.4 Hungary
8.3.7.5 Poland
8.3.7.6 Romania
8.3.7.7 Rest of Eastern Europe
8.4. Western Europe Voice Biometric Market
8.4.1 Key Market Trends, Growth Factors and Opportunities
8.4.2 Top Key Companies
8.4.3 Historic and Forecasted Market Size by Segments
8.4.4 Historic and Forecasted Market Size By By Technology
8.4.4.1 Text-Dependent Voice Biometrics
8.4.4.2 Text-Independent Voice Biometrics
8.4.5 Historic and Forecasted Market Size By By Application
8.4.5.1 Authentication
8.4.5.2 Fraud Detection
8.4.5.3 Customer Service
8.4.5.4 Access Control
8.4.5.5 Healthcare
8.4.6 Historic and Forecasted Market Size By By Industry Vertical
8.4.6.1 Financial Services
8.4.6.2 Telecommunications
8.4.6.3 Healthcare
8.4.6.4 Government
8.4.6.5 Retail
8.4.7 Historic and Forecast Market Size by Country
8.4.7.1 Germany
8.4.7.2 UK
8.4.7.3 France
8.4.7.4 The Netherlands
8.4.7.5 Italy
8.4.7.6 Spain
8.4.7.7 Rest of Western Europe
8.5. Asia Pacific Voice Biometric Market
8.5.1 Key Market Trends, Growth Factors and Opportunities
8.5.2 Top Key Companies
8.5.3 Historic and Forecasted Market Size by Segments
8.5.4 Historic and Forecasted Market Size By By Technology
8.5.4.1 Text-Dependent Voice Biometrics
8.5.4.2 Text-Independent Voice Biometrics
8.5.5 Historic and Forecasted Market Size By By Application
8.5.5.1 Authentication
8.5.5.2 Fraud Detection
8.5.5.3 Customer Service
8.5.5.4 Access Control
8.5.5.5 Healthcare
8.5.6 Historic and Forecasted Market Size By By Industry Vertical
8.5.6.1 Financial Services
8.5.6.2 Telecommunications
8.5.6.3 Healthcare
8.5.6.4 Government
8.5.6.5 Retail
8.5.7 Historic and Forecast Market Size by Country
8.5.7.1 China
8.5.7.2 India
8.5.7.3 Japan
8.5.7.4 South Korea
8.5.7.5 Malaysia
8.5.7.6 Thailand
8.5.7.7 Vietnam
8.5.7.8 The Philippines
8.5.7.9 Australia
8.5.7.10 New Zealand
8.5.7.11 Rest of APAC
8.6. Middle East & Africa Voice Biometric Market
8.6.1 Key Market Trends, Growth Factors and Opportunities
8.6.2 Top Key Companies
8.6.3 Historic and Forecasted Market Size by Segments
8.6.4 Historic and Forecasted Market Size By By Technology
8.6.4.1 Text-Dependent Voice Biometrics
8.6.4.2 Text-Independent Voice Biometrics
8.6.5 Historic and Forecasted Market Size By By Application
8.6.5.1 Authentication
8.6.5.2 Fraud Detection
8.6.5.3 Customer Service
8.6.5.4 Access Control
8.6.5.5 Healthcare
8.6.6 Historic and Forecasted Market Size By By Industry Vertical
8.6.6.1 Financial Services
8.6.6.2 Telecommunications
8.6.6.3 Healthcare
8.6.6.4 Government
8.6.6.5 Retail
8.6.7 Historic and Forecast Market Size by Country
8.6.7.1 Turkiye
8.6.7.2 Bahrain
8.6.7.3 Kuwait
8.6.7.4 Saudi Arabia
8.6.7.5 Qatar
8.6.7.6 UAE
8.6.7.7 Israel
8.6.7.8 South Africa
8.7. South America Voice Biometric Market
8.7.1 Key Market Trends, Growth Factors and Opportunities
8.7.2 Top Key Companies
8.7.3 Historic and Forecasted Market Size by Segments
8.7.4 Historic and Forecasted Market Size By By Technology
8.7.4.1 Text-Dependent Voice Biometrics
8.7.4.2 Text-Independent Voice Biometrics
8.7.5 Historic and Forecasted Market Size By By Application
8.7.5.1 Authentication
8.7.5.2 Fraud Detection
8.7.5.3 Customer Service
8.7.5.4 Access Control
8.7.5.5 Healthcare
8.7.6 Historic and Forecasted Market Size By By Industry Vertical
8.7.6.1 Financial Services
8.7.6.2 Telecommunications
8.7.6.3 Healthcare
8.7.6.4 Government
8.7.6.5 Retail
8.7.7 Historic and Forecast Market Size by Country
8.7.7.1 Brazil
8.7.7.2 Argentina
8.7.7.3 Rest of SA
Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies
Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research
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Voice Biometric Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
|
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 5.33 Billion |
|
Forecast Period 2024-32 CAGR: |
1.58 % |
Market Size in 2032: |
USD 6.14 Billion |
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Segments Covered: |
By Technology |
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By Application |
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By Industry Vertical |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Frequently Asked Questions :
The forecast period in the Voice Biometric Market research report is 2024-2032.
Aculab (United Kingdom), Agnitio SL (Spain), Auraya Systems (Australia), Biometric Vox (Spain), Cisco Systems Inc. (United States), Daon Inc. (United States), ID R&D (United States), Intersec Group (France), LumenVox LLC (United States), Nuance Communications, Inc. (United States), Phonexia (Czech Republic), SESTEK (Turkey), Sensory Inc. (United States), ValidSoft UK Ltd. (United Kingdom), VoicePIN.com (Poland), and Other Active Players.
The Voice Biometric Market is segmented into Technology, Application, Industry Vertical and region. By Technology, the market is categorized into Text-Dependent Voice Biometrics and Text-Independent Voice Biometrics. By Application, the market is categorized into Authentication Fraud Detection Customer Service Access Control Healthcare. By Industry Vertical, the market is categorized into Financial Services Telecommunications Healthcare Government Retail. By region, it is analyzed across North America (U.S., Canada, Mexico), Eastern Europe (Russia, Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe), Western Europe (Germany, UK, France, The Netherlands, Italy, Spain, Rest of Western Europe), Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC), Middle East & Africa (Turkiye, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa), South America (Brazil, Argentina, Rest of SA).
The voice biometric market can be defined as the market of products that is based on the, application of high technologies in order to identify and confirm the identity of the clients according to their distinctive features of the human voice. This market employs voice pattern, tone, pitch, frequency, vocal quality, accent, branding and other attributes for identity authentication purposes including but not limited to security access, fraud prevention and customer self-service. Thus, voice biometrics has become one of the important elements of today’s multifaceted authentication since voice-based systems dominate the secure digital environments.
Voice Biometric Market Size Was Valued at USD 5.33 Billion in 2023, and is Projected to Reach USD 6.14 Billion by 2032, Growing at a CAGR of 1.58 % From 2024-2032.
