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.
This type of technology is highly used in the societies of safety and fraud protection, especially in financial and banking sectors as well as telecommunication. The use makes it easier to have hands-free authentication through services such as phone banking, customers' services, and voice-operated devices. Voice biometrics also plays a significant role in multi-factor authentication (MFA) systems, which makes security even more unbreakable when intertwined with other mechanisms of verification. It is also becoming integrated into smart devices, virtual assistants, and call centers to make it better for customer experience, reduce fraud, and streamline authentication processes. In the near future, voice biometrics will increase accuracy and applications with further development in AI and machine learning.
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.
2. Services
2. Passive Voice Biometrics
2. Cloud-based
2. Small and Medium-sized Enterprises (SMEs)
2. Access Control Authentication
3. Forensic Voice Analysis and Criminal Investigation
4. Others
2. IT and Telecom
3. Consumer Electronics
4. Automotive
5. Government
6. Healthcare
7. Others
2. Key Persons
3. Recent Development & Strategies
4. Product Portfolio
5. Financial Insights
2. Aware Inc
3. NICE Ltd
4. Nuance Communications Inc. (Microsoft Corporation)
5. OneVault
6. Phonexia SRO
7. Verint Systems Inc
Global Voice Biometrics Industry Overview
Voice biometrics is in the form of using a person's voice to recognize the individual. Based on unique characteristics related to pitch, tone, accent, and speech patterns, it performs an authentication function. The characteristics are consistent and time-invariant; hence, the voice proves an effective bio-feature. Voice biometric systems consequently generate voiceprints-in other words, digital versions of characteristics embedded in a person's voice for an authentication purpose.This type of technology is highly used in the societies of safety and fraud protection, especially in financial and banking sectors as well as telecommunication. The use makes it easier to have hands-free authentication through services such as phone banking, customers' services, and voice-operated devices. Voice biometrics also plays a significant role in multi-factor authentication (MFA) systems, which makes security even more unbreakable when intertwined with other mechanisms of verification. It is also becoming integrated into smart devices, virtual assistants, and call centers to make it better for customer experience, reduce fraud, and streamline authentication processes. In the near future, voice biometrics will increase accuracy and applications with further development in AI and machine learning.
Growth Drivers of the Voice Biometrics Market
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
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
Voice Biometrics Market in France: 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 noisiy 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 Analysis
The leading companies in Voice Biometrics market are Aculab PLC, Aware Inc, NICE Ltd, Nuance Communications Inc. (Microsoft Corporation), OneVault, Phonexia SRO, Verint Systems Inc and many more.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.
Component- Industry is divided into 2 viewpoints:
1. Solutions2. Services
Type - Industry is divided into 2 viewpoints:
1. Active Voice Biometrics2. Passive Voice Biometrics
Deployment Mode- Industry is divided into 2 viewpoints:
1. On-premises2. Cloud-based
Organization Size- Industry is divided into 2 viewpoints:
1. Large Enterprises2. Small and Medium-sized Enterprises (SMEs)
Application- Industry is divided into 4 viewpoints:
1. Fraud Detection and Prevention2. Access Control Authentication
3. Forensic Voice Analysis and Criminal Investigation
4. Others
End User- Industry is divided into 7 viewpoints:
1. BFSI2. IT and Telecom
3. Consumer Electronics
4. Automotive
5. Government
6. Healthcare
7. Others
Countries- Industry is divided into 25 viewpoints:
North America
- United States
- Canada
Europe
- France
- Germany
- Italy
- Spain
- United Kingdom
- Belgium
- Netherlands
- Turkey
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Thailand
- Malaysia
- Indonesia
- New Zealand
Latin America
- Brazil
- Mexico
- Argentina
Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
All companies have been covered with 5 Viewpoints
1. Overview2. Key Persons
3. Recent Development & Strategies
4. Product Portfolio
5. Financial Insights
Company Analysis
1. Aculab PLC2. Aware Inc
3. NICE Ltd
4. Nuance Communications Inc. (Microsoft Corporation)
5. OneVault
6. Phonexia SRO
7. Verint Systems Inc
Table of Contents
1. Introduction2. Research & Methodology3. Executive Summary5. Global Voice Biometrics Market
4. Market Dynamics
6. Market Share Analysis
7. Component
8. Type
9. Deployment Mode
10. Organization Size
11. Application
12. End User
13. Country
14. Porter’s Five Analysis
15. SWOT Analysis
16. Company Analysis
Companies Mentioned
- Aculab PLC
- Aware Inc
- NICE Ltd
- Nuance Communications Inc. (Microsoft Corporation)
- OneVault
- Phonexia SRO
- Verint Systems Inc
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 125 |
| Published | November 2024 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 2.32 Billion |
| Forecasted Market Value ( USD | $ 10.41 Billion |
| Compound Annual Growth Rate | 18.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 7 |
