The Asia Pacific Voice Biometrics Market would witness market growth of 24.8% CAGR during the forecast period (2018 – 2024).
Voice biometrics is used for voice recognition with the help of analysing an individual’s pitch, speech, voice and tone. In security terms, it has a higher advantage as compared to passwords, as passwords are easy to track or hack. In the voice biometrics technology, a voice is recognized through two patterns- text-dependent and text-independent. Gaining traction among several industries like entertainment, cloud computing, social networking, and building security is a major factor which is responsible behind the rapid growth of the voice biometrics market. Additionally, a huge demand for high-level security in the financial sector and an increasing public awareness are expected to collectively provide lucrative opportunities to the market.
Technological advancements in electronic equipment have rapidly increased. Biometrics is such an innovation which is playing a crucial role among several industries like banking, government, telecom, healthcare, etc. Voice biometrics technologies are used for determining the identity of a person by analysing several voice characteristics which are more unique to an individual, as compared to a fingerprint.
Based in Component, the market is segmented into Solutions and Services. Based on Application, the market is segmented into Access Control & Authentication, Fraud Detection & Prevention, and Forensic Voice Analysis & Criminal Investigation. Based on Organization size, the market is segmented into large enterprises and Small & Medium Sized entertainment. Based on Type, the market is segmented into Active Voice biometrics and Passive Voice Biometrics. Based on End User, the market is segmented into BFSI, Healthcare & Life Sciences, Retail & Ecommerce, Telecom & IT, Government & Defense, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nuance Communications Inc., Verint Systems Inc., NICE Ltd., LexisNexis Risk Solutions Inc., Voice Biometrics Group, AimBrain Solutions Limited, Phonexia, VoicePin.com, Uniphore Software Solutions Pvt. Ltd., and LumenVox LLC.
Scope of the Study
- Access Control & Authentication
- Fraud Detection & Prevention
- Forensic Voice Analysis & Criminal Investigation
By Organization Size
- Large Enterprises
- Small & Medium-Sized Enterprises
- Active Voice Biometrics
- Passive Voice Biometrics
By End User
- Healthcare & Life Sciences
- Retail & Ecommerce
- Telecom & IT
- Government & Defense
- South Korea
- Rest of Asia Pacific
- Nuance Communications Inc.
- Verint Systems Inc.
- NICE Ltd.
- LexisNexis Risk Solutions Inc.
- Voice Biometrics Group
- AimBrain Solutions Limited
- Uniphore Software Solutions Pvt. Ltd.
- LumenVox LLC.
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