Increasing complexity of cyber-attacks and urgent need for a stronger defense system are expected to drive voice biometrics market revenue growth
The voice biometrics market size is expected to reach USD 5,889.9 Million in 2028 and register a revenue CAGR of 22.3% over the forecast period, according to the latest report by Reports and Data. Increasing frequency and complexity of cyber-attacks and malware encountered while using internet-driven technologies and high demand for more robust and secure methods for operating and accessing components, credible information, and confidential statistics in technology-driven systems used across various end-use industries are anticipated to boost market revenue growth. High complexity of cyber-attacks have resulted in the failure of preliminary line of defense such as username and passwords. These have proved to be insufficient, which, in turn, would also aid growth of the voice biometrics market.
Many prominent voice assistant companies, namely, Apple, Google, Microsoft, Amazon, and Mycroft are investing extensively in R&D of voice matching or biometrics through voice matches. Hence, increasing implementation of voice matching services in voice assistant devices is driving growth of the market. Various social networking sites including Facebook, Twitter, LinkedIn, and others are striving persistently to develop advanced speech recognition so that the voice input taken through speech recognition facilities can also be implemented as a voice matching feature. It will eliminate the complexities of manual customer authentication procedures.
Furthermore, biometric process has many beneficial properties, compared to voice recognition facility. Along with this, promising development of AI-based voice recognition technology to diminish the chances of replication or hacking would provide a topnotch biometric security, which, in turn, is expected to create a platform which will be superior than any other form of biometric facilities.
However, modern cyber-attacks are more effective at getting past obsolete security measures deployed by large firms, including Sony and BCBS, among others. As per various resources, businesses lose annually around USD 600.00 billion to cybercriminals, while in 2018 86.0% of companies across the globe reported as a minimum one cyber-attack in a year and there were around 100 million verified cybercrime threats moving around the cyberspace the same year.
Some major companies profiled in the market report include Nuance Communications, NICE Systems Ltd., Verint Systems, LumenVox, Auraya System, Omilia, Sestek, Verbio Technologies, Pindrop Security, and Interactions.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/2012
Some Key Highlights in the Report
For the purpose of this report, Reports and Data has segmented the global voice biometrics market based on component, deployment type, organization size, application, end-use, and region:
Component Outlook (Revenue, USD Million; 2018–2028)
Deployment Type Outlook (Revenue, USD Million; 2018–2028)
Organization Size Outlook (Revenue, USD Million; 2018–2028)
Application Outlook (Revenue, USD Million; 2018–2028)
End-use Outlook (Revenue, USD Million; 2018–2028)
Regional Outlook (Revenue, USD Million; 2018–2028)
Key Advantages of Voice Biometrics Report:
Conclusively, all aspects of the Voice Biometrics market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
Browse More Reports:
Traffic Sensor Market, By Sensor Type , By Deployment, By Application, and By Region Forecast to 2030
Radio Access Technologies Market by Communication Technology (2G, 3G, 4G/LTE, 5G), By Deployment, By End-Use , and By Region Forecast to 2030
Superconducting Wires Market, By Type , By Application (Energy, Medical, Research, Defense, Transportation, Others), and By Region Forecast to 2030
About Us:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market
Media ContactCompany Name: Reports and DataContact Person: John WatsonEmail: Send EmailPhone: +1-212-710-1370Address:40 Wall St. 28th floor City: New York CityState: NY 10005Country: United StatesWebsite: https://www.reportsanddata.com/report-detail/voice-biometrics-market