Voice Biometrics Market to Reach USD 11.5 Billion, Globally, by 2032 at 18.7% CAGR : Allied Market Research

Voice biometrics market has experienced growth due to increase in security concerns, surge in regulatory requirements, and advancements in AI & machine learning

WILMINGTON, DE, UNITED STATES, November 28, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Voice Biometrics Market¹ by Type (Active Biometrics and Passive Biometrics), Deployment Model (On-premises and Cloud), Enterprise Size (Small & Medium Enterprises and Large Enterprises), Industry Vertical (BFSI, Retail & E-commerce, Telecommunications & IT, Government & Defense, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032".

The voice biometrics market was valued at $2.5 billion in 2023, and is estimated to reach $11.5 billion by 2032, growing at a CAGR of 18.7% from 2024 to 2032.

𝐏𝐫𝐢𝐦𝐞 𝐝𝐞𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐧𝐭𝐬 𝐨𝐟 𝐠𝐫𝐨𝐰𝐭𝐡

The global voice biometrics market has experienced growth due to increase in security concerns, regulatory requirements, and advancements in AI and machine learning. However, high implementation costs hinder market growth to some extent. Moreover, increase in demand for robust security solutions and integration with IoT & smart devices offer remunerative opportunities for the expansion of the global voice biometrics market.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 – 310 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/1101

𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬

The active biometrics segment held the largest market share in 2023.

By type, the active biometrics segment held the largest market share in 2023, owing to its widespread adoption in various industries such as government & defense, healthcare, banking & financial services, and telecommunications. Active biometrics requires users to interact directly with the system, such as speaking a password, to authenticate their identity. This method is preferred as it provides a secure and flexible way to authenticate users, making it essential for applications where user authentication is critical, such as access to secure areas, financial transactions, or voice-activated devices.

The cloud system segment held the largest market share in 2023.

By deployment model, the cloud segment held the largest market share in 2023, owing to benefits offered by cloud such as scalability, cost-efficiency, and accessibility. The cloud-based solutions allow organizations to implement voice biometrics without significant upfront infrastructure investments. It offers flexibility to scale services as needed, support remote access, and enable quick updates & maintenance. In addition, the cloud deployments benefit from advanced security features and integration with other cloud services, making them attractive to enterprises seeking robust and efficient, thereby supports the segment growth. 

The large enterprises segment held the largest market share in 2023.

By enterprise size, the large enterprises segment held the largest market share in 2023, owing to their significant resources and infrastructure to implement advanced security solutions. The large enterprises have a greater need for robust and scalable authentication systems to protect vast amounts of sensitive data and manage extensive customer interactions. The segment ability to invest in cutting-edge technology, such as AI-driven voice biometrics, ensures enhanced security, regulatory compliance, and improved customer experience, thereby driving the dominance of the segment in the market.

𝐈𝐟 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐚𝐧𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬, 𝐏𝐥𝐞𝐚𝐬𝐞 𝐟𝐞𝐞𝐥 𝐟𝐫𝐞𝐞 𝐭𝐨 𝐜𝐨𝐧𝐭𝐚𝐜𝐭 𝐨𝐮𝐫 𝐚𝐧𝐚𝐥𝐲𝐬𝐭 𝐚𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/1101

The BFSI segment held the largest market share in 2023.

By industry vertical, the BFSI segment held the largest market share in 2023, owing to its need for secure and efficient authentication methods to combat fraud and ensure regulatory compliance. The voice biometrics offer a seamless, user-friendly way to verify identities, enhancing customer experience while maintaining high security. The sector focus on digital transformation and remote banking services which further drives adoption of voice biometrics. In addition, the cost-effectiveness of reducing traditional security measures and the ability to prevent fraudulent transactions contribute to BFSI segment dominance in the market. 

North America held the highest market share in 2023.

North America held the highest market share in 2023, owing to the region's advanced technological infrastructure, high adoption rates of innovative security solutions, and strong presence of key market players. In addition, the rise in demand for secure and convenient authentication methods in sectors such as BFSI, government, and healthcare drives the adoption of voice biometrics in North America. Furthermore, stringent regulatory requirements and increase in instances of fraud compel organizations to adopt voice biometrics, which further boost growth of the region in the voice biometrics market.

𝐏𝐥𝐚𝐲𝐞𝐫𝐬

• Nuance Communications Inc.
• Verint Systems Inc.
• Voice Biometrics Group
• NICE Ltd
• Auraya Inc.
• Phonexia SRO
• BioCatch Ltd
• Pindrop Security Inc.
• Aculab Inc.
• OneValult

𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/1101

𝐑𝐞𝐜𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭

• In September 2023, Aculab announced the revolutionary enhancement of vehicle security and ease of access through voice biometrics.

• In November 2022, iPulse Systems launched a new voice biometrics 'as-a-service' solution hosted on Microsoft Azure, offering convenient access to secure authentication capabilities via cloud deployment.

• In December 2022, ValidSoft launched a new digit-based voice authentication solution aimed at enhancing trusted identity assurance for enterprise remote access applications such as ZTNA, PAM, and IAM.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 (310 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/voice-biometrics-market/purchase-options

The report provides a detailed analysis of these key players in the global voice biometrics market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, acquisition, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

𝑶𝒕𝒉𝒆𝒓 𝑻𝒓𝒆𝒏𝒅𝒊𝒏𝒈 𝑹𝒆𝒑𝒐𝒓𝒕𝒔:

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3. Adaptive Learning Software Market : https://www.alliedmarketresearch.com/adaptive-learning-software-market

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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¹ https://www.alliedmarketresearch.com/voice-biometrics-market