Global Voice Biometric Solutions Market is valued USD 974.3 Million in 2019 and is projected is to exhibit 22.7 % CAGR during the forecast period. The market is projected to be around USD 4079.48 Million by 2026. The market is driven by the increasing complexity of cyber-attacks, creating a need for a stronger defense system.

Voice biometrics uses voice patterns to produce different identification for every individual, using more than 100 physical and behavioral factors. These include emphasis, pronunciation, and speed of speech, accent, as well as physical characteristics of your mouth, vocal tract, and nasal passages.
Voice Biometric Solutions Market Dynamics
The major driving factors for the voice biometrics market include the growing complexity of cyber-attacks, creating a need for a stronger defense system. Additionally, factors such as biometrics in smartphones, E-Passport Program, criminal identification, and others are anticipated to drive the global market. Also, government support, increased use in the banking & healthcare, election administration, and supervision at public meetings will boost the growth of the face and voice biometrics market in the future.

Furthermore, large demand for high-level security in the financial sector, and raising public awareness are also supposed to provide growth to the market. Additionally, advanced technologies such as AI, ML, cloud computing, and Data Analytics, and the increasing demand for preserving healthcare and financial data will create significant opportunities for the vendors of the voice biometrics market. At the same time, major factors restricting the growth of the market are issues related to privacy and high cost.
Voice Biometric Solutions Market Insight
Based on the region, North America is expected to dominate the market of a voice biometric solutions, due to the expansion in advance technologies for voice biometric solutions, and high penetration of voice biometric solutions. Furthermore, developed economies like Canada and the US, and an increasing focus on innovations obtained from R&D and technology are expected to drive the growth of the market.
Voice Biometric Solutions Market Segmentation
The global Voice Biometric Solutions Market is segmented into component, end-user, and region. On the basis of the component the market is divided into hardware, software. Based on end-user the market is segmented into automotive, banking and financial service, government agency, healthcare industry, mobile devices. And based on the geography the market is further segregated into North America, Latin America, Europe and Asia Pacific.
Voice Biometric Solutions Market Competitive Landscape
The key players in Voice Biometric Solutions Market are listed as Agnitio SL, Voice Biometrics Group (VBG)., American Safety Council Inc., VoiceTrust Holding BV, Bioid Ag, Nuance Communications Inc., OneValult, VoiceTrust Ag, SayPay Technologies Inc., ValidSoft Ltd., VoicePass Technology, VoiceVault, and Other.