The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 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.
The rising prominence of voice biometrics in BFSI sector will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.
Voice Biometrics Market 2021-2025: Geographical Landscape
North America will register the highest growth rate of 35% among the other regions. Therefore, the voice recognition biometrics market in this territory is expected to garner significant business opportunities for the vendors during the forecast period. The US is the key market for voice biometrics in North America. The increased adoption in the healthcare sector will facilitate the voice biometrics market growth in this region over the forecast period.
Voice Biometrics Market 2021-2025: Segmentation
- End-user
- BFSI
- Government
- Telecommunications
- Healthcare
- Others
- Geography
- North America
- APAC
- Europe
- South America
- MEA
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Voice Biometrics Market 2021-2025: Vendor Analysis and Scope
Some of the major vendors of the Voice Biometrics Market include 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.
To help businesses improve their market position, Technavio's report provides a detailed analysis of vendors operating in the market. Backed with competitive intelligence and benchmarking, our research reports on the voice biometrics market are designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.
The report also covers the following areas:
The rising prominence of voice biometrics in BFSI sector will positively impact the market growth. However, lack of accuracy will hamper the market growth.
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Voice Biometrics Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist voice biometrics market growth during the next five years
- Estimation of the voice biometrics market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the voice biometrics market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of voice biometrics market vendors
Related Reports:
Global Biometric Market in the Automotive Sector
Global Behavioral Biometric Market
Voice Biometrics Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 18.81% |
Market growth 2021-2025 |
USD 2.02 billion |
Market structure |
Fragmented |
YoY growth (%) |
18.50 |
Regional analysis |
North America, APAC, Europe, South America, and MEA |
Performing market contribution |
North America at 35% |
Key consumer countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
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 |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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