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Global Voice Recognition Biometrics Market 2017-2021

Global Voice Recognition Biometrics Market 2017-2021

About Voice Recognition Biometrics

Voice recognition biometrics digitizes an individual's voice to match it against a stored voiceprint template. Acoustic features of an individual's voice such as pitch, cadence, and tone are compared to distinguish between individual voices. Voice verification systems require minimal hardware installation, as most PCs already have a microphone and can authenticate individuals remotely for different transactions. Voice recognition biometrics are most likely to be deployed in telephone-based environments.

Technavio’s analysts forecast the global voice recognition biometrics market to grow at a CAGR of 19.36% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global voice recognition biometrics market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of voice recognition biometrics including voice receivers, voice recorders, modulators, voice recognition biometrics analyzing software, and databases. Report has also considered the revenue generated from hardware, software, and integrated voice recognition biometric solutions.

The market is divided into the following segments based on geography:

  • APAC
  • Europe
  • North America
  • South America
  • MEA
Technavio's report Global Voice Recognition Biometrics Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • AGNITIO
  • Nuance Communications
  • VoiceTrust
  • VoiceVault
Other prominent vendors
  • Auraya Systems
  • M2SYS Technology
  • OneVault
  • VoiceIt Technologies
  • SayPay Technologies
  • Sensiple
  • Sensory
  • SpeechPro
  • SPITCH
  • VoicePIN.com
  • Uniphore
  • ValidSoft
  • Voice Biometrics Group (VBG)
Market driver
  • Rising prominence of voice recognition biometrics in BFSI sector
  • For a full, detailed list, view our report
Market challenge
  • Lack of accuracy
  • For a full, detailed list, view our report
Market trend
  • Introduction of voice recognition biometrics in automotive sector
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Voice Recognition Biometrics Market 2017-2021

Technavio recognizes the following companies as the key players in the global voice recognition biometrics market: AGNITIO, Nuance Communications, VoiceTrust, and VoiceVault.

Other Prominent Vendors in the market are: Auraya Systems, M2SYS Technology, OneVault, VoiceIt Technologies, SayPay Technologies, Sensiple, Sensory, SpeechPro, SPITCH, VoicePIN.com, Uniphore, ValidSoft, and Voice Biometrics Group (VBG).

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is introduction of voice recognition biometrics in automotive sector. Voice recognition biometrics is gaining traction in the automotive industry as it is convenient and affordable. Advances in technology have led to a rise in the adoption of connected cars equipped with the Internet and wireless services that connect the automobile remotely. They also help with navigation, infotainment, telematics, roadside assistance, video transmission, tracking stolen vehicles, and making automated calls during emergencies.”

According to the report, one of the major drivers for this market is rising prominence of voice recognition biometrics in BFSI sector. The BFSI sector is increasingly focusing on providing the highest level of security to customers without compromising on convenience. The payments and card industry (PCI) has been digitally transformed with the changing consumer preferences and introduction of new payment methods such as PIN cards, mobile wallets, and EMV chips. With advances in technology, the number of fraud and forgeries are also increasing, highlighting the need for a solution that is difficult to duplicate.

Further, the report states that one of the major factors hindering the growth of this market is lack of accuracy. Voice recognition biometrics as a substitute for personal identification numbers(PINs) and passwords acts as a passcode for end-users to access different information. Variability in the voice of an end-user can prevent him/her from gaining access to his/her own secure information. There is a possibility that voiceprints may have accuracy issues due to change in voice intonations, throat problems, and aging. Environmental factors and background noise can also lead to voice distortion, which can result in an inaccurate match in the database.

Companies Mentioned

AGNITIO, Nuance Communications, VoiceTrust, VoiceVault, Auraya Systems, M2SYS Technology, OneVault, VoiceIt Technologies, SayPay Technologies, Sensiple, Sensory, SpeechPro, SPITCH, VoicePIN.com, Uniphore, ValidSoft, Voice Biometrics Group (VBG).

  • Executive summary
  • Scope of the report
    • Definition of biometrics
    • Estimation of market
    • Segmentation
      • Table Major countries considered
    • Vendors
    • Summation errors
    • Target audience
    • Recommended readings
    • Major-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
    • Advantages and disadvantages of voice recognition biometrics
      • Table Comparison of biometrics technologies
  • Workflow of voice recognition biometrics
    • Table Workflow of voice recognition biometrics
    • Security vulnerability by authentication methods
      • Table Comparative view
  • Applications of voice recognition biometrics
    • VISA
    • eBay
    • Personal devices
    • Parking garages
  • Security issues with voice recognition biometrics
    • Security risks with voice recognition biometrics
    • Mitigating voice recognition biometrics risks
  • Major developments
    • Emergence of cloud biometrics
    • Increasing use of NFC-based payments using voice recognition biometrics
  • Market landscape
    • Share of voice recognition biometrics in global biometrics market
      • Table Share of voice recognition biometrics in global biometrics market 2016-2021 (% share)
    • Global voice recognition biometrics market
      • Table Global voice recognition biometrics market 2016-2021 ($ billions)
  • Market segmentation by end-user
    • Global voice recognition biometrics market by end-users
      • Table Global voice recognition biometrics market by end-user 2016-2021 (% share)
    • Global voice recognition biometrics market by end-user
      • Table Global voice recognition biometrics market by end-user 2016-2021 ($ billion)
  • Geographical segmentation
    • Global voice recognition biometrics market segmentation by geography
      • Table Global voice recognition biometrics market by geography 2016-2021 (% share)
    • Global voice recognition biometrics market segmentation by geography (revenue)
      • Table Global voice recognition biometrics market segmentation by geography 2016-2021 ($ billions)
  • Buying criteria
    • Table Buying criteria for voice recognition biometrics
  • Market drivers
    • Rising prominence of voice recognition biometrics in BFSI sector
    • Increased adoption in healthcare sector
    • Popularity of voice recognition among law enforcement
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Lack of accuracy
    • Lack of standardization
    • Vulnerability of biometric systems
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Introduction of voice recognition biometrics in automotive sector
    • Introduction of voice recognition in multimodal biometrics
    • Introduction of voice recognition biometrics in wearables
  • Five forces model
    • Table Five forces model
  • Vendor landscape
    • Competitive scenario
      • Table Major mergers and acquisitions in global voice recognition biometrics market
    • Vendor matrix
      • Table Vendor matrix
    • Competitive rating
      • Table Competitive rating
    • Vendor highlights
      • Table Vendor key news
    • Key partnerships
      • Table Key partnerships
    • Other prominent vendors
      • Table Other prominent vendors
  • Major vendor profiles
    • AGNITIO
    • Nuance Communications
    • VoiceTrust
    • VoiceVault
  • Explore Technavio

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