Voice Biometrics Market Size, Share, Growth Analysis, By Type(Active biometrics and Passive biometrics), By Industry Verticals(BFSI, Telecommunication & IT) - Industry Forecast 2024-2031

Global Voice Biometrics Market size was valued at USD 1.90 Billion in 2021 and is poised to grow from USD 2.31 Billion in 2022 to USD 10.96 Billion by 2030, at a CAGR of 21.5% during the forecast period (2023-2030).

A growing need for robust and secure methods, reliable data, and privacy to operate and access resources in technology-driven systems used in various industries is anticipated and the end users are expected to boost the revenue of the voice biometrics market. Increased adoption of voice matching services is driving the growth of this market, according to several leading voice support companies, namely, Apple, Google, Microsoft, Amazon, and Mycroft are investing heavily in R&D of biometrics through voice matching. The voice input picked up through the recognition facility can be used as a voice matching feature, as it will minimize the complexity of manual receiver Certification processes.

Advanced technologies such as artificial intelligence (AI), machine learning (ML), cloud computing, and data analytics, as well as huge demand for healthcare and financial data security, will create huge growth opportunities for quality biometrics markets on the snow. Increasing urbanization and globalization of digitalization have resulted in end-user industries such as banking, finance, and insurance (BFSI), government and public sector, and IT & telecom, which are now dependent on technology-driven systems. This has made these areas vulnerable to hackers targeting valuable information and resources. The growth of audio and biometric markets requires that certificates used as credentials of biometric users, firmly and appropriately use algorithms in remarkable facilities of biometric processing in the audio industry, potentially reducing the chances of cleaning or hacking. It provides biometric security.

It is expected to provide a platform that will outperform other types of biometric services. The emerging trend of hybrid cloud or voice biometric systems is also driving market revenue growth. There is a tendency in non-financial call centers. Many organizations around the world are looking for solutions that are as simple and usable as you would use them. Voice biometric solutions are no different. An integrated voice bank that can facilitate customer engagement and leverage the voice of the customer across multiple brands and marketing agencies provides organizations with a robust solution.