Voice Biometrics Market | Market Highlights and Insights to Recovery from COVID-19
Market Forecast and Growth Projections 2021-2025
The Global voice biometrics market is expected to grow by $ 2.02 bn, accelerating at a CAGR of almost 18.81% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.
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Voice Biometrics Market: Market Segments and Growth Forecasts
This research report will provide insights into the current market share of each segment along with growth projections for the next five years.
- The Voice Biometrics Market is segmented by End-user (BFSI, government, telecommunications, healthcare, and others) and Geography (North America, APAC, Europe, South America, and MEA).
- The North America region emerged as the leading segment in recent years. 35% of the market growth will originate from North America during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Voice Biometrics Market size.
Voice Biometrics Market: Trends, Drivers, Challenges to impact growth
The research report looks at the impact of various trends, drivers, and challenges for market growth during the forecast period. These insights will enable clients to design a growth strategy for their business and area of operations.
- Rising prominence of voice biometrics in BFSI sector will be a significant factor in driving the growth of the Voice Biometrics Market.
- Increased adoption in healthcare sector will be instrumental in driving the market growth during the forecast period.
- One of the key challenges that market players need to contend with in order to achieve further success is the Lack of accuracy.
Voice Biometrics Market: Vendor Analysis
- The market is fragmented.
- The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
- Auraya Systems Pty. Ltd., LumenVox LLC, M2SYS Technology, NICE Ltd., Nuance Communications Inc., OneVault Pty. Ltd., Speech Technology Center Ltd., Uniphore Software Systems Pvt. Ltd., Verint Systems Inc., and VoiceIt Technologies LLC are some of the major market participants.
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The report provides insights into the following FAQs:
- What is the market CAGR?
The market is accelerate at a CAGR of almost 18.81%.
- What is the incremental growth of the market?
The market is expected to grow by $ 2.02 bn through 2021-2025.
- What is a key factor driving this market?
Rising prominence of voice biometrics in BFSI sector will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
North America, APAC, Europe, South America, and MEA are the key regions featured in this research report.
- Which is the leading geographic region for this market:
35% growth will originate from North America
- Who are the leading market vendors?
The leading vendors in this market are Auraya Systems Pty. Ltd., LumenVox LLC, M2SYS Technology, NICE Ltd., Nuance Communications Inc., OneVault Pty. Ltd., Speech Technology Center Ltd., Uniphore Software Systems Pvt. Ltd., Verint Systems Inc., and VoiceIt Technologies LLC
- What are the market segments covered in this report?
The market is segmented by End-user (BFSI, government, telecommunications, healthcare, and others) and Geography (North America, APAC, Europe, South America, and MEA)