Latest News- Voice Biometrics Market: Active voice biometrics is expected to lead the Type segment during 2025-2029

The Voice Biometrics Market is being driven by Rising prominence of voice biometrics in BFSI sector

The Voice Biometrics Market is expected to grow at a CAGR of 25.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 6346.9 million. In the rapidly expanding automotive market, particularly in Asia Pacific regions such as Thailand, voice biometrics is increasingly being adopted due to its convenience and cost-effectiveness. Advanced technology has enabled connected cars with Internet and wireless services, enhancing functionalities beyond navigation and infotainment to telematics, roadside assistance, video transmission, and stolen vehicle tracking. Voice biometrics offers personalized in-vehicle experiences, with platforms like Nuance Communications' Dragon Drive ensuring seamless connectivity and superior driving experiences by delivering voice and content services. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Active voice biometrics
  • Passive voice biometrics
• End-user
  • BFSI
  • Government
  • Telecommunication
  • Healthcare
  • Others
• Component
  • Software
  • Services
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising prominence of voice biometrics in BFSI sector
• Increasing adoption of technology in healthcare sector
• Popularity of voice recognition among law enforcement

However, the market also witnesses some limitations, which are as follows:

• Lack of accuracy of access control passwords
• Lack of standardization among voice biometric solutions
• Vulnerability of biometric systems

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Market Scope in Voice Biometrics Market Research Report

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Research Analysis Overview

The Voice Biometrics Market encompasses technologies such as voice recognition engines, acoustic models, and language models for extracting features and creating voiceprint templates. Threshold setting and enrollment databases are used for authentication, while authentication servers and biometric sensors facilitate voice-based authentication. Noise cancellation and speech enhancement improve recognition accuracy. Voice stress analysis and emotional analysis add layers of security. Voice-activated systems, voice search, voice control, voice assistants, and voice-driven applications are common applications. Biometric authentication systems offer multi-factor authentication, identity management, and fraud detection. The market is driven by innovation in biometric standards, adoption, market penetration, and future trends like emotional and stress analysis.

Market Research Overview

The Voice Biometrics Market is a segment of the larger IT consulting and other services market, specifically focusing on Voice Authentication and Speaker Verification solutions. This market encompasses companies providing Voice Biometrics, Voice Recognition Software, and Speech Recognition services. The Global IT Consulting and Other Services Market size is determined by the combined revenue generated by companies offering IT consulting, information management, and all types of IT services. Key growth drivers for this market include increasing government investments in advanced IT infrastructure, necessitating the need for specialized expertise in Voice Biometrics technology.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/