The global voice biometrics market is anticipated to grow at a considerable CAGR of 21.4% during the forecast period. The growing development of voice biometric systems integrated with new and advanced technological methods such as deep learning and AI, among others is the major factor bolstering the growth of the market. Several major players such as Voxta, Verint Systems, LumenVox GmbH, and Nuance Communication, Inc., among others serving the market are also focusing on introducing solutions embedded with new technologies. For instance, in September 2021, Amazon Web Services (AWS) introduced Amazon Connect Voice ID, a machine learning (ML) based voice authentication feature for Amazon Connect. It is an easy-to-use omnichannel cloud-based contact centre. The product was launched to improve customer services at an affordable rate. Amazon Connect Voice ID offers both real-time caller authentication, to provide contact centres with an additional security layer to help validate customer identity, and fraud risk detection, to help make contact centre operations more secure.
Browse the full report description of “Voice Biometrics Market Size, Share & Trends Analysis Report by Components (Solutions and Services), by Type (Active Voice Biometrics and Passive Voice Biometrics), by Deployment Mode (Cloud and On-Premises), and by Application (Authentication & Customer Verification, Access Control, Fraud Detection & Prevention, Forensic Voice Analysis & Criminal Investigation, and Others) Forecast Period (2022-2028)” at https://www.omrglobal.com/industry-reports/voice-biometrics-market
Apart from this, in October 2021, Speechmatic, a British company in deep learning and speech recognition technology launched Autonomous Speech Recognition (ASR) software using the latest techniques in deep learning. The company has worked with key players such as Apple, Amazon, Google, and Microsoft, among others. According to the company, it has reduced around 45% of the speech recognition errors among these technology giants. Additionally, Speechmatics recorded 91.8% accuracy compared to Google and Deepgram which was estimated around 83.4% and 82.3%, respectively.
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Components
o By Type
o By Deployment Mode
o By Application
o By End-Users
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- including Nuance Communications, Inc., Verint Systems, VBG, Voxta, ForgeRock, LumenVox GmbH, and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Voice Biometrics Market Report Segment
By Components
By Type
By Deployment Mode
By Application
By End-Users
Global Voice Biometrics Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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