Dublin, Dec. 23, 2024 (GLOBE NEWSWIRE) -- The "Voice Biometrics Market Forecast by Component, Application, End User, Countries and Company Analysis, 2025-2033" report has been added to ResearchAndMarkets.com's offering.
The Voice Biometrics market is expected to grow from US$ 2.32 billion in 2024 to US$ 10.41 billion by 2033, at a CAGR of 18.17% in the period from 2025 to 2033. The major factors driving this growth are the increasing demand for security, desire for having more potent authentication methods, increased voice biometrics demands in financial services, rapid advancement of AI and ML technologies, and drifting attitude towards MFA.
The leading companies in the Voice Biometrics market include Aculab PLC, Aware Inc, NICE Ltd, Nuance Communications Inc. (Microsoft Corporation), OneVault, Phonexia SRO, Verint Systems Inc. and many more.
Increasing Demand for Enhanced Security and Authentication
Increasing levels of cyber threats and identity fraud require authenticity methods that focus on security efficiency. Voice biometrics is a competitive advantage because it will be able to offer not only security but also convenience; authentication will be based on users' own unique vocal characteristics. It is increasingly adopted in the banking, finance, and government sectors because gaining access to sensitive information must be done so securely. The change from traditional password-based systems to multi-factor authentication (MFA) is thus bringing in a safer layer against unauthorized access to fuel growth in the voice biometrics market.
Artificial Intelligence and Machine Learning
Voice biometrics have been advanced through rapid progress in Artificial Intelligence (AI) and Machine Learning (ML), that have improved accuracy, speed, as well as reliability of systems. The AI algorithms have improved with a critical analysis of voice patterns to better identify people even in noisy conditions. Machine learning has ensured on-going improvement in the voice recognition aspects, reducing errors and false positives. Such technologies expand the use of voice biometrics in customer service and banking industries in the completion of secure financial transactions, increasing the scope of market itself further.
Application with Multi-Factor Authentication Systems
The emerging multi-factor authentication systems mainly provide strong growth in the voice biometrics market. Organizations are increasingly adopting MFA, allowing them to maintain high levels of security through strong authentication mechanisms like verification forms that include passwords, security tokens, and biometric data. Voice biometrics supports it by adding a level of convenience and security in authenticating through voice and traditional methods. This integration proves to be highly useful in banking, healthcare, and telecom industries, where data security is the top concern. With growing adoption of MFA, voice biometric adoption to complement the current security measures will also be accelerated.
USA Voice Biometrics Market
The market for USA Voice Biometrics is growing at a fast pace since emerging demand from robust authentication across various industry verticals. Voice biometrics is being widely deployed in financial institutions, healthcare organizations, and government departments for fraud prevention, verification of identification, and hassle-free customer experience. Consequently, the building of multi-factor authentication solutions coupled with AI and ML is continually improving the voice biometric system for better accuracy and efficiency. Some more stimulating factors for the U.S. market are the growth in remote services, voice-activated devices, and contactless solutions, all of which are contributing to making voice biometrics an integral part of modern security infrastructure.
France Voice Biometrics Market
This market is recording high growth owing to the demand in all sectors for secure and convenient authentication methods. Financial institutions, telecommunication, and government agencies are adopting voice biometrics for verification and authentication, fraud prevention, and automating customer service. With the rise of digital banking and remote services, voice biometrics are expected to become one of the first options for multifactor authentication in this increasingly expanding domain. Advancements of AI and machine learning also enhanced the level of preciseness and reliability of voice biometric systems. As France embraces the digital transformation, the market for voice biometrics grows by leaps and bounds, making security more robust and user experience better.
China Voice Biometrics Market
The China Voice Biometrics market is growing rapidly, primarily because of the growing requirement of safe and efficient authentication methods in numerous industries. Voice biometrics can be used by the banking and telecommunications sectors in terms of secure transactions, fraud prevention, as well as automating customer service, while the e-commerce sector uses it for authorized transactions in terms of account access. The country's digital transformation coupled with growing mobile banking and online services demand voice-based authentication. Available AI and machine learning make the voice biometric systems much more accurate and stronger in noisy environments, thus making them even more reliable. This is likely to increase voice biometrics market in China and heighten security and user experience in the marketplace.
Saudi Arabia Voice Biometrics Market
The Saudi Arabia Voice Biometrics market is growing steadily, with an impetus that stems from the high demand for secure authentication products in sectors like banking and finance and governmental services. With the adoption of digital transformation and e-government initiatives, voice biometrics are increasingly becoming part of practices involving identity verification, fraud prevention, and customer service delivery. With mobile banking and online services on a surge, the need for secure authentication and hands-free methods has accelerated. Additionally, advancement in AI and machine learning technologies is furthering voice biometric systems, hence more robust in the fast-changing digital landscape of Saudi Arabia.
Voice Biometrics Company News
- In March 2024, Corsound AI launched voice biometrics for face generation and matching. The AI of the firm will be capable of making matches between a voice and a face with great accuracy. If the private Tel Aviv startup does this consistently and error-free, it adds a new feature to the biometric surveillance strategy and brings into existence a new remote authentication option for onboarding.
- ID R&D announced the voice clone detection tool against AI-driven fraud in January 2024. The device is to curb fraud and crimes by detecting voice clones and audio deepfakes.
- Phonexia launched Phonexia Voice Inspector 5.1 in January 2024 for forensic voice comparison. The newly developed software items meet the requirements of the European Network of Forensic Science Institutes (ENFSI) and possess the international standard for court admissibility.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 125 |
| Forecast Period | 2024-2033 |
| Estimated Market Value (USD) in 2024 | $2.32 Billion |
| Forecasted Market Value (USD) by 2033 | $10.41 Billion |
| Compound Annual Growth Rate | 18.1% |
| Regions Covered | Global |
Key Topics Covered
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Voice Biometrics Market
6. Market Share Analysis
6.1 Component
6.2 Type
6.3 Deployment Mode
6.4 Organization Size
6.5 Application
6.6 End-User
6.7 Country
7. Component
7.1 Solutions
7.2 Services
8. Type
8.1 Active Voice Biometrics
8.2 Passive Voice Biometrics
9. Deployment Mode
9.1 On-premises
9.2 Cloud-based
10. Organization Size
10.1 Large Enterprises
10.2 Small and Medium-sized Enterprises (SMEs)
11. Application
11.1 Fraud Detection and Prevention
11.2 Access Control Authentication
11.3 Forensic Voice Analysis and Criminal Investigation
11.4 Others
12. End User
12.1 BFSI
12.2 IT and Telecom
12.3 Consumer Electronics
12.4 Automotive
12.5 Government
12.6 Healthcare
12.7 Others
13. Country
13.1 North America
13.1.1 United States
13.1.2 Canada
13.2 Europe
13.2.1 France
13.2.2 Germany
13.2.3 Italy
13.2.4 Spain
13.2.5 United Kingdom
13.2.6 Belgium
13.2.7 Netherlands
13.2.8 Turkey
13.3 Asia-Pacific
13.3.1 China
13.3.2 Japan
13.3.3 India
13.3.4 Australia
13.3.5 South Korea
13.3.6 Thailand
13.3.7 Malaysia
13.3.8 Indonesia
13.3.9 New Zealand
13.4 Latin America
13.4.1 Brazil
13.4.2 Mexico
13.4.3 Argentina
13.5 Middle East & Africa
13.5.1 South Africa
13.5.2 Saudi Arabia
13.5.3 UAE
14. Porter's Five Analysis
14.1 Bargaining Power of Buyers
14.2 Bargaining Power of Suppliers
14.3 Degree of Rivalry
14.4 Threat of New Entrants
14.5 Threat of Substitutes
15. SWOT Analysis
15.1 Strength
15.2 Weakness
15.3 Opportunity
15.4 Threat
16. Company Analysis
16.1 Aculab PLC
16.1.1 Overview
16.1.2 Key Persons
16.1.3 Recent Development & Strategies
16.1.4 Product Portfolio
16.1.5 Financial Insights
16.2 Aware Inc.
16.3 NICE Ltd.
16.4 Nuance Communications Inc. (Microsoft Corporation)
16.5 OneVault
16.6 Phonexia SRO
16.7 Verint Systems Inc.
For more information about this report visit https://www.researchandmarkets.com/r/jk5nio
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