Voice Biometrics Market Is Projected to Grow at a Substantial Rate by 2025
“The Latest Research Report Voice Biometrics Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025 provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. – MarketResearchReports.biz”
The global voice biometrics market is gaining momentum on the back of rising need for foolproof security methods for technology-driven systems and devices to prevent loss of critical data. With username and password proving to be insufficient on account of the risk of being hacked and cracked, biometrics identification is so far the safest for fraud prevention.
As per study presented by experienced researchers, the worldwide market for voice biometrics is appropriately segmented according to deployment, end-user, component, and geography. The cloud based deployment model is likely to surge due to increasing shift to cloud-based services.
The analysts of tis report have presented a comprehensive assessment of the global voice biometrics market, taking into consideration demand drivers and restraints, opportunities, competitive scenarios, and other important aspects.
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Global Voice Biometrics Market; Trends and Opportunities
The global voice biometrics market is prophesied to attract growth owing to various advancements in hardware and software. The proliferation of smartphones, tablets and wearable technology has led to the demand for advanced foolproof secure solutions, thus ramping up demand for biometric solution. The build-up of Internet of Things environment, wherein user’s privacy and security needs to be safeguarded is driving the adoption of biometric solutions. Mobile phone and landline, radio network, virtual private network, microphone, and voice over IP network are some of the communication networks that can be used for biometrics technology.
Biometric used as credentials can’t be altered, as the underlying system employs accurate algorithms for authentication process. This is leading to the growing adoption of biometric authentication in e-commerce, banking and healthcare, and government sector among others.
Voice biometric solutions are increasingly gaining traction due to the desired level of security that they offer. From phone systems to mobile application, voice biometric solutions are deployed as they offer secure authentication by means of simple and spoken passphrase. Speech, pitch, voice, and range of an individual are utilized as voice recognition parameters.
Voice biometrics offers a high degree of accuracy and is the only technology that does not require additional dedicated hardware such as iris-scanning equipment or fingerprint sensor, apart from microphone. Voice biometric can be used in noisy environments as well as because it offers a high degree of accuracy and spoof enabled authentication owing to technical advances in processing power and microphones.
Further, in a bid to ascertain high accuracy, voice biometrics compares speakers’ voice recognition parameters under specific lexical context. Of all biometric solutions, voice biometrics is the least intrusive. It can be used with text-independent free speech or text-dependent passphrase, which validates user’s authenticity.
Global Voice Biometrics Market: Geographical Analysis
The worldwide market for voice biometrics is foreseen to witness the dominance of North America over the forecast period from 2017 to 2025. Strong focus on research and development for technological advances and implementation of the same are some of the key factors that will cement the lead position of the region.
Asia Pacific and Europe are some other key regions that are expected to contribute to the growth of this market.
Global Voice Biometrics Market: Key Players
The worldwide market for voice biometrics is anticipated to witness the prominence of companies such as Agnito SL, Voice Pass Technology, VoiceTrust Ag, MASYS Technology, SpeechPro, ValidSoft, National Security Resources, SayPay Technologies INC., American Safety Council Inc., Nuance Communications, VoiceTrust Holding BV, VoiceVault, OneVault, Uniphore, Voice Security Sysrems, Voice Biometrics, and Boid Ag. Some of the key trends observed in the vendor landscape include mergers and acquisitions and innovations.
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MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
- Tailwinds and headwinds molding the market’s trajectory
- Market segments based on products, technology, and applications
- Prospects of each segment
- Overall current and possible future size of the market
- Growth pace of the market
- Competitive landscape and key players’ strategies
The main aim of the report is to:
- Enable key stakeholder’s in the market bet right on it
- Understand the opportunities and pitfalls awaiting them
- Assess the overall growth scope in the near term
- Strategize effectively with respect to production and distribution
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