Market Overview:
The global voice biometric solutions market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The market was valued at US$ 2,362.8 Mn in 2017 and is projected to reach US$ 10,746.4 Mn by 2030. The growth of the market can be attributed to the increasing demand for security and safety measures across various industries and rising adoption of voice recognition technology in consumer electronics applications. Based on type, automatic speech recognition software accounted for the majority share of the global voice biometric solutions market in 2017 and is expected to maintain its dominance throughout the forecast period. This can be attributed to its growing demand in BFSI, IT & telecom, healthcare and other industries for authentication purposes.
Product Definition:
Voice biometric solutions are used to identify an individual through their voice. This can be done for security purposes, such as logging into a computer or accessing a secure area, or for other reasons, such as tracking customer interactions. Voice biometric solutions are important because they provide an additional layer of security that is not easily compromised and can be used in a variety of settings.
Automatic Speech Recognition Software:
Automatic speech recognition (ASR) software is used for the identification of speech in an audio signal. It helps to identify words or alphabets as they are pronounced. The technology has evolved over decades with researchers focusing on its improvement and advancement for use in voice biometric solutions such as voice-activated security systems, smart authentication devices, intelligent personal assistants and others.
The global automatic speech recognition market size was valued at USD 1, Current Cost:USD 0.
Speech-To-Text Systems:
The speech-to-text systems are used to convert the voice into written format and vice versa. It is a technology that converts the spoken words into text. The system works on the principle of understanding of words or command using certain algorithms. It converts audio signal received from user through microphone to text as fast as possible with minimum errors.
Application Insights:
The Banking, Financial Services and Insurance (BFSI) sector accounted for the highest market share in 2017. The voice biometric solutions help enhance customer authentication procedures while reducing the risk of frauds usingvoice recognition technology. The BFSI sector is anticipated to dominate the global industry over the forecast period owing to increasing adoption of these systems by banks and other financial institutions for authentication purposes.
The healthcare segment is expected to register a significant CAGR over next eight years owing to rising demand from various end-use industries such as pharmaceuticals and insurance sectors for authenticating user identities or obtaining access information during pre-authscion procedures. For instance, hospitals are using automatic speech recognition software programs with text-to-speech capabilities that enable users to hear what they say on their computer speakers or microphones and have transcripts printed out automatically afterwords.
Regional Analysis:
North America dominated the global market in 2017. This can be attributed to the presence of a large number of vendors in this region, coupled with high demand for biometric solutions from various end-use industries such as BFSI, healthcare and consumer electronics. The U.S., being one of the most technologically advanced countries has led to an increased adoption rate for voice recognition software among businesses across all sectors including retail, telecom and banking etc.
Asia Pacific is expected to emerge as one of the fastest growing regions during 2018 - 2030 due to increasing investments by governments across various economies such as China.
Growth Factors:
- Increasing demand for voice recognition technology in various end-use industries such as banking and finance, healthcare, retail, and others
- Rising need for security and safety measures across different sectors
- Proliferation of connected devices and the Internet of Things (IoT)
- Growing trend of Bring Your Own Device (BYOD) among employees in organizations
- Increasing demand for biometric authentication solutions
Scope Of The Report
Report Attributes
Report Details
Report Title
Voice Biometric Solutions Market Research Report
By Type
Automatic Speech Recognition Software, Speech-To-Text Systems, Automatic Speech Recognition Software type accounts for 75% at most, Voice Biometric Solution
By Application
Consumer Electronics, BFSI, IT & Telecom, Healthcare, Consumer electronics are the most widely used and accounted for the most
By Companies
Nuance Communications, Synaptics, NICE, Verint Systems, Phonexia, Pindrop, SpeechPro, Sensory, SinoVoice, Daon, Uniphore, Aculab, LumenVox, Interactions, Auraya Systems, Sestek, Voice Biometric Solution
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
242
Number of Tables & Figures
170
Customization Available
Yes, the report can be customized as per your need.
Global Voice Biometric Solutions Market Report Segments:
The global Voice Biometric Solutions market is segmented on the basis of:
Types
Automatic Speech Recognition Software, Speech-To-Text Systems, Automatic Speech Recognition Software type accounts for 75% at most, Voice Biometric Solution
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Consumer Electronics, BFSI, IT & Telecom, Healthcare, Consumer electronics are the most widely used and accounted for the most
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Nuance Communications
- Synaptics
- NICE
- Verint Systems
- Phonexia
- Pindrop
- SpeechPro
- Sensory
- SinoVoice
- Daon
- Uniphore
- Aculab
- LumenVox
- Interactions
- Auraya Systems
- Sestek
- Voice Biometric Solution
Highlights of The Voice Biometric Solutions Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Automatic Speech Recognition Software
- Speech-To-Text Systems
- Automatic Speech Recognition Software type accounts for 75% at most
- Voice Biometric Solution
- By Application:
- Consumer Electronics
- BFSI
- IT & Telecom
- Healthcare
- Consumer electronics are the most widely used and accounted for the most
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Voice Biometric Solutions Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Voice Biometric Solutions is a company that provides voice recognition and transcription services. It offers a variety of services, including transcription, call center management, and voice recognition software.
Some of the major players in the voice biometric solutions market are Nuance Communications, Synaptics, NICE, Verint Systems, Phonexia, Pindrop, SpeechPro, Sensory, SinoVoice, Daon, Uniphore, Aculab, LumenVox, Interactions, Auraya Systems, Sestek, Voice Biometric Solution.
The voice biometric solutions market is expected to grow at a compound annual growth rate of 16.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Voice Biometric Solutions Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Voice Biometric Solutions Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Voice Biometric Solutions Market - Supply Chain
4.5. Global Voice Biometric Solutions Market Forecast
4.5.1. Voice Biometric Solutions Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Voice Biometric Solutions Market Size (000 Units) and Y-o-Y Growth
4.5.3. Voice Biometric Solutions Market Absolute $ Opportunity
5. Global Voice Biometric Solutions Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Voice Biometric Solutions Market Size and Volume Forecast by Type
5.3.1. Automatic Speech Recognition Software
5.3.2. Speech-To-Text Systems
5.3.3. Automatic Speech Recognition Software type accounts for 75% at most
5.3.4. Voice Biometric Solution
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Voice Biometric Solutions Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Voice Biometric Solutions Market Size and Volume Forecast by Application
6.3.1. Consumer Electronics
6.3.2. BFSI
6.3.3. IT & Telecom
6.3.4. Healthcare
6.3.5. Consumer electronics are the most widely used and accounted for the most
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Voice Biometric Solutions Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Voice Biometric Solutions Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Voice Biometric Solutions Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Voice Biometric Solutions Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Voice Biometric Solutions Demand Share Forecast, 2019-2026
9. North America Voice Biometric Solutions Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Voice Biometric Solutions Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Voice Biometric Solutions Market Size and Volume Forecast by Application
9.4.1. Consumer Electronics
9.4.2. BFSI
9.4.3. IT & Telecom
9.4.4. Healthcare
9.4.5. Consumer electronics are the most widely used and accounted for the most
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Voice Biometric Solutions Market Size and Volume Forecast by Type
9.7.1. Automatic Speech Recognition Software
9.7.2. Speech-To-Text Systems
9.7.3. Automatic Speech Recognition Software type accounts for 75% at most
9.7.4. Voice Biometric Solution
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Voice Biometric Solutions Demand Share Forecast, 2019-2026
10. Latin America Voice Biometric Solutions Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Voice Biometric Solutions Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Voice Biometric Solutions Market Size and Volume Forecast by Application
10.4.1. Consumer Electronics
10.4.2. BFSI
10.4.3. IT & Telecom
10.4.4. Healthcare
10.4.5. Consumer electronics are the most widely used and accounted for the most
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Voice Biometric Solutions Market Size and Volume Forecast by Type
10.7.1. Automatic Speech Recognition Software
10.7.2. Speech-To-Text Systems
10.7.3. Automatic Speech Recognition Software type accounts for 75% at most
10.7.4. Voice Biometric Solution
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Voice Biometric Solutions Demand Share Forecast, 2019-2026
11. Europe Voice Biometric Solutions Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Voice Biometric Solutions Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Voice Biometric Solutions Market Size and Volume Forecast by Application
11.4.1. Consumer Electronics
11.4.2. BFSI
11.4.3. IT & Telecom
11.4.4. Healthcare
11.4.5. Consumer electronics are the most widely used and accounted for the most
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Voice Biometric Solutions Market Size and Volume Forecast by Type
11.7.1. Automatic Speech Recognition Software
11.7.2. Speech-To-Text Systems
11.7.3. Automatic Speech Recognition Software type accounts for 75% at most
11.7.4. Voice Biometric Solution
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Voice Biometric Solutions Demand Share, 2019-2026
12. Asia Pacific Voice Biometric Solutions Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Voice Biometric Solutions Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Voice Biometric Solutions Market Size and Volume Forecast by Application
12.4.1. Consumer Electronics
12.4.2. BFSI
12.4.3. IT & Telecom
12.4.4. Healthcare
12.4.5. Consumer electronics are the most widely used and accounted for the most
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Voice Biometric Solutions Market Size and Volume Forecast by Type
12.7.1. Automatic Speech Recognition Software
12.7.2. Speech-To-Text Systems
12.7.3. Automatic Speech Recognition Software type accounts for 75% at most
12.7.4. Voice Biometric Solution
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Voice Biometric Solutions Demand Share, 2019-2026
13. Middle East & Africa Voice Biometric Solutions Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Voice Biometric Solutions Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Voice Biometric Solutions Market Size and Volume Forecast by Application
13.4.1. Consumer Electronics
13.4.2. BFSI
13.4.3. IT & Telecom
13.4.4. Healthcare
13.4.5. Consumer electronics are the most widely used and accounted for the most
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Voice Biometric Solutions Market Size and Volume Forecast by Type
13.7.1. Automatic Speech Recognition Software
13.7.2. Speech-To-Text Systems
13.7.3. Automatic Speech Recognition Software type accounts for 75% at most
13.7.4. Voice Biometric Solution
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Voice Biometric Solutions Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Voice Biometric Solutions Market: Market Share Analysis
14.2. Voice Biometric Solutions Distributors and Customers
14.3. Voice Biometric Solutions Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Nuance Communications
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Synaptics
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. NICE
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Verint Systems
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Phonexia
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Pindrop
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. SpeechPro
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Sensory
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. SinoVoice
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Daon
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Uniphore
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Aculab
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. LumenVox
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Interactions
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Auraya Systems
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Sestek
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Voice Biometric Solution
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
