North America Voice Biometrics Market Introduction and Overview
According to SPER Market Research, the North America Voice Biometrics Market is estimated to reach USD 4.5 Billion by 2033 with a CAGR of 20.1%.
The report includes an in-depth analysis of the North America Voice Biometrics Market, including market size and trends, product mix, applications, and supplier analysis. The term "voice biometrics" describes technology that uses an individual's voice's distinctive qualities—such as pitch, tone, and pronunciation—to identify and confirm that person's identity. It is a subset of the larger area of biometrics, which seeks to offer trustworthy and safe techniques for identification and authentication.
Market Opportunities and Challenges
Opportunities in the Voice Biometrics Market in North America:
- Growing Need for Secure Identity Verification: Voice biometrics growth is facilitated by growing security concerns and a growing need for safe authentication techniques.
- The Growing Adoption of Biometric Technology: In North America, voice biometrics is in a favourable environment because to the increased acceptance of biometric technologies, which are motivated by their accuracy and convenience.
- Governmental Efforts to Strengthen Security: Initiatives from the government to improve security, particularly in immigration and law enforcement, can spur the use of voice biometrics for identity verification.
Challenges confronting the voice biometrics market in North America
- Data security and privacy concerns: Growing knowledge of and worries about data security and privacy may provide difficulties, necessitating strict action to resolve and abide by laws.
- Technological Restrictions and Negatives/False Positives: False positives and negatives are examples of technological challenges that can affect how dependable and trustworthy speech biometrics systems are.
- Complexity of Integration: It can be difficult and expensive to integrate voice biometrics into current systems; infrastructure modifications and large investments may be necessary.
Market Competitive Landscape
There are several companies vying for market share in the fiercely competitive worldwide voice biometrics market. The major key players in the North America Voice Biometrics Market are: AimBrain Solutions Limited, LexisNexis Risk Solutions Inc., LumenVox LLC., NICE Ltd., Nuance Communications Inc., Phonexia, Uniphore Software Solutions Pvt. Ltd., Verint Systems Inc., Voice Biometrics Group, VoicePin.com, Others. To obtain a competitive edge, these businesses are concentrating on strategic alliances, product innovation, and mergers and acquisitions.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Component, By Type, By Authentication Process, By Application, By Vertical
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| Regions covered | Canada, Mexico, US and rest of North America
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| Companies Covered | AimBrain Solutions Limited, LexisNexis Risk Solutions Inc., LumenVox LLC., NICE Ltd., Nuance Communications Inc., Phonexia, Uniphore Software Solutions Pvt. Ltd., Verint Systems Inc., Voice Biometrics Group, VoicePin.com, Others |
COVID-19 Impact on North America Voice Biometrics Market
The lockdown brought on by the COVID-19 pandemic in 2020 created a brief halt in the voice biometrics market, which affected a number of businesses, most notably manufacturing, transportation, logistics, and retail. Worldwide industries were impacted by supply chain and operational disruptions. While necessities were exempt, a lack of labourers hampered output. By the beginning of 2021, things should be better. Notwithstanding the difficulties, a spike in the market for voice biometrics services and solutions is anticipated in 2021. Businesses are looking for digital transformation, personalised connections, and improved consumer experiences. Reducing operational expenses, strengthening fraud detection, improving authentication, and facilitating real-time decision-making to promote the market adoption of voice identification are among the top priorities.
Key Target Audience:
- Authentication Solution Providers
- Automotive Industry
- Customer Service and Call Center Providers
- Financial Institutions
- Healthcare Organizations
- Law Enforcement and Security Agencies
- Retail and E-commerce Companies
- Technology and Security Consultants
- Technology Solution Providers
- Telecommunication Companies
- Others
Our in-depth analysis of the North America Voice Biometrics Market includes the following segments:
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By Component:
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Services
Solution
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By Type:
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Active Voice Biometrics
Passive Voice Biometrics
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By Authentication Process:
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Agent-assisted
Automated IVR
Employee Authentication
Mobile Application
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By Vertical:
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BFSI
Energy & Utilities
Government & Defense
Healthcare & Life Sciences
IT & Telecom
Retail & E-commerce
Transportation & Logistics
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Key Topics Covered in the Report:
- North America Voice Biometrics Market Size (FY’2023-FY’2033)
- Overview of North America Voice Biometrics Market
- Segmentation of North America Voice Biometrics Market By Component (Services, Solution)
- Segmentation of North America Voice Biometrics Market By Type (Active Voice Biometrics, Passive Voice Biometrics)
- Segmentation of North America Voice Biometrics Market By Authentication Process (Agent-assisted, Automated IVR, Employee Authentication, Mobile Application)
- Segmentation of North America Voice Biometrics Market By Application (Access Control, Authentication and Customer Verification, Forensic Voice Analysis and Criminal Investigation, Fraud Detection and Prevention, Risk and Emergency Management, Transaction Processing, Workforce Management, Others)
- Segmentation of North America Voice Biometrics Market By Vertical (BFSI, Energy & Utilities, Government & Defense, Healthcare & Life Sciences, IT & Telecom, Retail & E-commerce, Transportation & Logistics, Travel & Hospitality, Others)
- Statistical Snap of North America Voice Biometrics Market
- Expansion Analysis of North America Voice Biometrics Market
- Problems and Obstacles in North America Voice Biometrics Market
- Competitive Landscape in the North America Voice Biometrics Market
- Impact of COVID-19 and Demonetization on North America Voice Biometrics Market
- Details on Current Investment in North America Voice Biometrics Market
- Competitive Analysis of North America Voice Biometrics Market
- Prominent Players in the North America Voice Biometrics Market
- SWOT Analysis of North America Voice Biometrics Market
- North America Voice Biometrics Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the North America Voice Biometrics Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. North America Voice Biometrics Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in North America Voice Biometrics Market
7. North America Voice Biometrics Market, By Component (USD Million)
7.1. North America Voice Biometrics Market Value Share and Forecast, By Component, 2023-2033
7.2. Services
7.3. Solution
8. North America Voice Biometrics Market, By Type (USD Million)
8.1. North America Voice Biometrics Market Value Share and Forecast, By Type, 2023-2033
8.2. Active Voice Biometrics
8.3. Passive Voice Biometrics
9. North America Voice Biometrics Market, By Authentication Process (USD Million)
9.1. North America Voice Biometrics Market Value Share and Forecast, By Authentication Process, 2023-2033
9.2. Agent-assisted
9.3. Automated IVR
9.4. Employee Authentication
9.5. Mobile Application
10. North America Voice Biometrics Market, By Application (USD Million)
10.1. North America Voice Biometrics Market Value Share and Forecast, By Application, 2023-2033
10.2. Access Control
10.3. Authentication and Customer Verification
10.4. Forensic Voice Analysis and Criminal Investigation
10.5. Fraud Detection and Prevention
10.6. Risk and Emergency Management
10.7. Transaction Processing
10.8. Workforce Management
10.9. Others
11. North America Voice Biometrics Market, By Vertical (USD Million)
11.1. North America Voice Biometrics Market Value Share and Forecast, By Vertical, 2023-2033
11.2. BFSI
11.3. Energy & Utilities
11.4. Government & Defense
11.5. Healthcare & Life Sciences
11.6. IT & Telecom
11.7. Retail & E-commerce
11.8. Transportation & Logistics
11.9. Travel & Hospitality
11.10. Others
12. North America Voice Biometrics Market Forecast, 2019-2033 (USD Million)
12.1. North America Voice Biometrics Market Size and Market Share
13. North America Voice Biometrics Market, By Component, 2019-2033 (USD Million)
13.1. North America Voice Biometrics Market Size and Market Share By Component (2019-2026)
13.2. North America Voice Biometrics Market Size and Market Share By Component (2027-2033)
14. North America Voice Biometrics Market, By Type, 2019-2033 (USD Million)
14.1. North America Voice Biometrics Market Size and Market Share By Type (2019-2026)
14.2. North America Voice Biometrics Market Size and Market Share By Type (2027-2033)
15. North America Voice Biometrics Market, By Authentication Process, 2019-2033 (USD Million)
15.1. North America Voice Biometrics Market Size and Market Share By Authentication Process (2019-2026)
15.2. North America Voice Biometrics Market Size and Market Share By Authentication Process (2027-2033)
16. North America Voice Biometrics Market, By Application, 2019-2033 (USD Million)
16.1. North America Voice Biometrics Market Size and Market Share By Application (2019-2026)
16.2. North America Voice Biometrics Market Size and Market Share By Application (2027-2033)
17. North America Voice Biometrics Market, By Vertical, 2019-2033 (USD Million)
17.1. North America Voice Biometrics Market Size and Market Share By Vertical (2019-2026)
17.2. North America Voice Biometrics Market Size and Market Share By Vertical (2027-2033)
18. North America Voice Biometrics Market, By Region, 2019-2033 (USD Million)
18.1. North America Voice Biometrics Market Size and Market Share By Region (2019-2026)
18.2. North America Voice Biometrics Market Size and Market Share By Region (2027-2033)
18.3. Canada
18.4. Mexico
18.5. US
18.6. Rest of North America
19. Company Profile
19.1. AimBrain Solutions Limited
19.1.1. Company details
19.1.2. Financial outlook
19.1.3. Product summary
19.1.4. Recent developments
19.2. LexisNexis Risk Solutions Inc.
19.2.1. Company details
19.2.2. Financial outlook
19.2.3. Product summary
19.2.4. Recent developments
19.3. LumenVox LLC
19.3.1. Company details
19.3.2. Financial outlook
19.3.3. Product summary
19.3.4. Recent developments
19.4. NICE Ltd.
19.4.1. Company details
19.4.2. Financial outlook
19.4.3. Product summary
19.4.4. Recent developments
19.5. Nuance Communications Inc.
19.5.1. Company details
19.5.2. Financial outlook
19.5.3. Product summary
19.5.4. Recent developments
19.6. Phonexia
19.6.1. Company details
19.6.2. Financial outlook
19.6.3. Product summary
19.6.4. Recent developments
19.7. Uniphore Software Solutions Pvt. Ltd.
19.7.1. Company details
19.7.2. Financial outlook
19.7.3. Product summary
19.7.4. Recent developments
19.8. Verint Systems Inc.
19.8.1. Company details
19.8.2. Financial outlook
19.8.3. Product summary
19.8.4. Recent developments
19.9. Voice Biometrics Group
19.9.1. Company details
19.9.2. Financial outlook
19.9.3. Product summary
19.9.4. Recent developments
19.10. VoicePin.com
19.10.1. Company details
19.10.2. Financial outlook
19.10.3. Product summary
19.10.4. Recent developments
19.11. Others
20. List of Abbreviations
21. Reference Links
22. Conclusion
23. Research Scope