NEW YORK, Oct. 3, 2023 /PRNewswire/ — The Voice Biometrics Market size is to increase by USD 2.89 billion, accelerating at a CAGR of 18.48%, during the forecast period. The growth of the voice biometrics market is driven by the increasing use of technology in healthcare, particularly mobile devices like smartphones and tablets. Healthcare apps, including those for prescriptions and billing, are on the rise. Voice biometrics is being integrated into these apps to enhance security and protect patient records, along with improving customer service through voice e-signatures. This integration is expected to fuel market growth from 2022 to 2027. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy full report here
Voice Biometrics Market 2023 – 2027: Challenges:
A significant challenge facing the voice biometrics market is the vulnerability of biometric systems. These vulnerabilities can arise from design compromises, user errors, hardware failures, and environmental conditions, affecting both devices and associated equipment. Additionally, the risk of physical attacks and data alterations at the administrator level further hinders market growth prospects during the forecast period.
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Voice Biometrics Market 2023 – 2027: Segmentations:
The voice recognition biometrics market is segmented by Type (Active voice biometrics and Passive voice biometrics), End-user (BFSI, Government, Telecommunication, Healthcare, and Others), and Geography (North America, APAC, Europe, South America, and Middle East and Africa).
The active voice biometrics segment is expected to experience notable expansion during the forecast period. This category primarily involves utilizing an individual’s distinct voice traits to confirm and validate their identity. The global voice biometrics market has seen a surge in the demand for active voice biometrics, driven by its potential advantages in enhancing security, elevating user satisfaction, and enabling more precise identity verification.
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Voice Biometrics Market 2023 – 2027: Key Companies:
- Aculab Plc
- Auraya Systems Pty. Ltd.
- Aware Inc.
- Imageware Systems Inc.
- Kaizen Voiz
- LumenVox GmbH
- Microsoft Corp.
- Mitek Systems Inc.
- NICE Ltd.
- OneVault Pty. Ltd.
- Phonexia Sro
- Pindrop Security Inc.
- Sensory Inc.
- Speech Technology Center Ltd.
- Optimal Technology Solutions LLC
- ValidSoft Group
- Verint Systems Inc.
- Voice Biometrics Group
- VoicePIN.com Sp zoo
- How do the major trends impact the market?
- How big is the North America market?
- How do the key drivers and challenges impact the market?
Biometrics Market: The biometrics market size is estimated to grow at a CAGR of 12.85% between 2022 and 2027. The market size is forecast to increase by USD 27,436.19 million.
Voice Speech Recognition Software Market: The global voice speech recognition software market size is estimated to grow at a CAGR of 13.72% between 2022 and 2027. The market size is forecast to increase by USD 14,859.93 million.
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Sizes
- Five Forces Analysis
- Market Segmentation by Type
- Market Segmentation by End-user
- Market Segmentation by Geography
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, & Trends
- Company Landscape
- Company Analysis
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