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.
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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.
Global Voice Biometrics Market Report Segment
By Components
- Solutions
- Services
By Type
- Active Voice Biometrics
- Passive Voice Biometrics
By Deployment Mode
- Cloud
- On-Premises
By Application
- Authentication & Customer Verification
- Access Control
- Fraud Detection & Prevention
- Forensic Voice Analysis & Criminal Investigation
- Others (Workforce Management, Speech Therapy, Personalized User Experience)
By End-Users
- BFSI
- Healthcare and Life Science
- Retail and E-Commerce
- Government
- IT and Telecommunication
- Others (Travel and Hospitality, Logistics and Transportation, Energy)
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Voice Biometrics Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
· Aculab
· AnyVision Interactive Technologies Ltd.
· AURAYA
· Aware, Inc.
· Element Matrix Services (Element)
· ForgeRock
· ID R&D
· Interactions LLC
· KAIZEN SECURE VOIZ
· LexisNexis Risk Solutions
· LumenVox GmbH
· NICE Ltd.
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