North America Voice Biometrics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Solution and Services), Type (Active Voice Biometrics and Passive Voice Biometrics), Authentication Process (Automated IVR, Agent-assisted, Mobile Application, and Employee Authentication), Deployment (Cloud and On-premise), Vertical (BFSI, Retail & E-commerce, Government & Defense, IT & Telecom, Healthcare & Life Sciences, Transportation & Logistics, Travel & Hospitality, Energy & Utilities, and Others), and Application (Authentication and Customer Verification, Forensic Voice Analysis and Criminal Investigation, Fraud Detection and Prevention, Risk and Emergency Management, Transaction Processing, Access Control, Workforce Management, and Others)
The voice biometrics market in North America is expected to grow from US$ 613.68 million in 2022 to US$ 1,808.85 million by 2028; it is estimated to grow at a CAGR of 19.7% from 2022 to 2028.
Artificial intelligence (AI)-driven speech biometrics technology works by ensuring that a user's unique voice (in a natural language live interaction) is compared in real-time with a voiceprint recorded in a database based on various parameters during the conversation. As a result, hacking the solution is extremely difficult for a fraudster to acquire access to someone's account or profile because no static data is necessary for the transaction that could be captured. AI advances are improving the accuracy of speech biometrics to utilize it for applications beyond identification and personalization, such as payment authentication. Furthermore, Google's Contact Center Artificial Intelligence (CCAI) platform was enhanced in October 2021 to include voice biometrics and conversational AI in call center applications. The CCAI has a Speaker ID feature that allows callers to enroll and authenticate themselves using speech biometrics. A few AI automatic speech recognition (ASR) solutions integrate speech recognition with authentication capabilities such as voice biometrics to improve the speed and efficacy of voice-enabled services. This technology recognizes and authenticates the user and understands what they are saying, eliminating the requirement for multi-factor authentication or agent screening questions to determine whether a call is from a valid customer. The consumer receives speedier service, agents spend less time on regular authentication, and fraud is detected more quickly. Thus, the rising emergence of AI in voice biometrics will create future trends for the voice biometrics market.
North America Voice Biometrics Market Revenue and Forecast to 2028 (US$ Million)
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North America Voice Biometrics Market Segmentation
The North America voice biometrics market is segmented into component, type, authentication process, deployment, vertical, application, and country. Based on component, the North America voice biometrics market is bifurcated into solution and services. The solution segment dominated the market in 2022. Based on type, the North America voice biometrics market is bifurcated into active voice biometrics and passive voice biometrics. The passive voice biometrics segment dominated the market in 2022. Based on authentication process, the North America voice biometrics market is segmented into automated IVR, agent-assisted, mobile applications, and employee authentication. The agent-assisted segment dominated the market in 2022. Based on deployment, the North America voice biometrics market is bifurcated into cloud and on-premise. The cloud segment dominated the market in 2022. Based on vertical, the North America voice biometrics is segmented into BFSI, retail & e-commerce, government & defense, IT & telecom, healthcare & life sciences, transportation & logistics, travel & hospitality, energy & utilities, and others. The BFSI segment dominated the market in 2022. Based on application, the North America voice biometrics market is categorized into authentication and customer verification, forensic voice analysis and criminal investigation, fraud detection and prevention, risk and emergency management, transaction processing, access control, workforce management, and others. The authentication and customer verification segment dominated the market in 2022. Based on country, the North America voice biometrics market is segmented into the US, Canada, and Mexico. Further, the US dominated the market in 2022.
A few of the key players dominating the North America voice biometrics market are Aculab; Auraya, Inc.; Aware Inc; NICE Ltd; Nuance Communications, Inc; Pindrop; and Verint Systems, Inc.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Voice Biometrics - Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. North America Voice Biometrics Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Demand for Fraud Detection and Prevention System
5.1.2 Increasing Demand for Voice Authentication in Mobile Banking Applications
5.2 Market Restraints
5.2.1 Security and Privacy Issues
5.3 Market Opportunities
5.3.1 Increasing Adoption of Voice Biometrics in Healthcare Industry
5.4 Future Trends
5.4.1 Rising Emergence of Artificial Intelligence in Voice Biometrics
5.5 Impact Analysis of Drivers and Restraints
6. Voice Biometrics Market – North America Analysis
6.1 North America Voice Biometrics Market Overview
6.2 North America Voice Biometrics Market Revenue Forecast and Analysis
7. North America Voice Biometrics Market – By Component
7.1 Overview
7.2 North America Voice Biometrics Market, by Component (2021 and 2028)
7.3 Solution
7.3.1 Overview
7.3.2 Solution: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Services
7.4.1 Overview
7.4.2 Services: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Voice Biometrics Market – By Type
8.1 Overview
8.2 North America Voice Biometrics Market, by Type (2021 and 2028)
8.3 Active Voice Biometrics
8.3.1 Overview
8.3.2 Active Voice Biometrics: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Passive Voice Biometrics
8.4.1 Overview
8.4.2 Passive Voice Biometrics: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Voice Biometrics Market – By Authentication Process
9.1 North America Voice Biometrics Market, by Authentication Process (2021 and 2028)
9.2 Automated IVR
9.2.1 Overview
9.2.2 Automated IVR: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
9.3 Agent-Assisted
9.3.1 Overview
9.3.2 Agent-Assisted: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Mobile Applications
9.4.1 Overview
9.4.2 Mobile Applications: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Employee Authentication
9.5.1 Overview
9.5.2 Employee Authentication: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
10. North America Voice Biometrics Market– By Deployment
10.1 Overview
10.2 North America Voice Biometrics Market, by Deployment (2021 and 2028)
10.3 Cloud
10.3.1 Overview
10.3.2 Cloud: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
10.4 On-premise
10.4.1 Overview
10.4.2 On-premise: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
11. North America Voice Biometrics Market – By Vertical
11.1 Overview
11.2 North America Voice Biometrics Market, by Vertical (2021 and 2028)
11.3 BFSI
11.3.1 Overview
11.3.2 BFSI: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
11.4 Retail & Ecommerce
11.4.1 Overview
11.4.2 Retail & Ecommerce: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
11.5 Government & Defence
11.5.1 Overview
11.5.2 Government & Defence: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
11.6 IT & Telecom
11.6.1 Overview
11.6.2 IT & Telecom: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
11.7 Healthcare & Life Sciences
11.7.1 Overview
11.7.2 Healthcare & Life Sciences: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
11.8 Transportation & Logistics
11.8.1 Overview
11.8.2 Transportation & Logistics: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
11.9 Travel & Hospitality
11.9.1 Overview
11.9.2 Travel & Hospitality: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
11.10 Energy & Utilities
11.10.1 Overview
11.10.2 Energy & Utilities: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
11.11 Others
11.11.1 Overview
11.11.2 Others: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
12. North America Voice Biometrics Market – By Application
12.1 Overview
12.2 North America Voice Biometrics Market, by Application (2021 and 2028)
12.3 Authentication and Customer Verification
12.3.1 Overview
12.3.2 Authentication and Customer Verification: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
12.4 Forensic Voice Analysis and Criminal Investigation
12.4.1 Overview
12.4.2 Forensic Voice Analysis and Criminal Investigation: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
12.5 Fraud Detection and Prevention
12.5.1 Overview
12.5.2 Fraud Detection and Prevention: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
12.6 Risk and Emergency Management
12.6.1 Overview
12.6.2 Risk and Emergency Management: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
12.7 Transaction Processing
12.7.1 Overview
12.7.2 Transaction Processing: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
12.8 Access Control
12.8.1 Overview
12.8.2 Access Control: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
12.9 Workforce Management
12.9.1 Overview
12.9.2 Workforce Management: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
12.10 Others
12.10.1 Overview
12.10.2 Others: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
13. North America Voice Biometrics Market – Country Analysis
13.1 Overview
13.1.2 North America: Voice Biometrics, by Key Country
13.1.2.1 US: Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
13.1.2.1.1 US: Voice Biometrics, By Component
13.1.2.1.2 US: Voice Biometrics Market, By Type
13.1.2.1.3 US: Voice Biometrics Market, By Authentication Process
13.1.2.1.4 US: Voice Biometrics Market, By Deployment
13.1.2.1.5 US: Voice Biometrics Market, By Vertical
13.1.2.1.6 US: Voice Biometrics Market, By Application
13.1.2.2 Canada: Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
13.1.2.2.1 Canada: Voice Biometrics, By Component
13.1.2.2.2 Canada: Voice Biometrics Market, By Type
13.1.2.2.3 Canada: Voice Biometrics Market, By Authentication Process
13.1.2.2.4 Canada: Voice Biometrics Market, By Deployment
13.1.2.2.5 Canada: Voice Biometrics Market, By Vertical
13.1.2.2.6 Canada: Voice Biometrics Market, By Application
13.1.2.3 Mexico: Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
13.1.2.3.1 Mexico: Voice Biometrics, By Component
13.1.2.3.2 Mexico: Voice Biometrics Market, By Type
13.1.2.3.3 Mexico: Voice Biometrics Market, By Authentication Process
13.1.2.3.4 Mexico: Voice Biometrics Market, By Deployment
13.1.2.3.5 Mexico: Voice Biometrics Market, By Vertical
13.1.2.3.6 Mexico: Voice Biometrics Market, By Application
14. Industry Landscape
14.1 Market Initiative
14.2 Merger and Acquisition
14.3 New Development
15. Company Profiles
15.1 Aculab
15.1.1 Key Facts
15.1.2 Business Description
15.1.3 Products and Services
15.1.4 Financial Overview
15.1.5 SWOT Analysis
15.1.6 Key Developments
15.2 Auraya, Inc.
15.2.1 Key Facts
15.2.2 Business Description
15.2.3 Products and Services
15.2.4 Financial Overview
15.2.5 SWOT Analysis
15.2.6 Key Developments
15.3 Aware Inc.
15.3.1 Key Facts
15.3.2 Business Description
15.3.3 Products and Services
15.3.4 Financial Overview
15.3.5 SWOT Analysis
15.3.6 Key Developments
15.4 Nuance Communications, Inc.
15.4.1 Key Facts
15.4.2 Business Description
15.4.3 Products and Services
15.4.4 Financial Overview
15.4.5 SWOT Analysis
15.4.6 Key Developments
15.5 NICE Ltd.
15.5.1 Key Facts
15.5.2 Business Description
15.5.3 Products and Services
15.5.4 Financial Overview
15.5.5 SWOT Analysis
15.5.6 Key Developments
15.6 Pindrop
15.6.1 Key Facts
15.6.2 Business Description
15.6.3 Products and Services
15.6.4 Financial Overview
15.6.5 SWOT Analysis
15.6.6 Key Developments
15.7 Verint Systems, Inc.
15.7.1 Key Facts
15.7.2 Business Description
15.7.3 Products and Services
15.7.4 Financial Overview
15.7.5 SWOT Analysis
15.7.6 Key Developments
16. Appendix
16.1 About The Insight Partners
16.2 Word Index
LIST OF TABLES
Table 1. North America Voice Biometrics Market Revenue Forecast and Forecast to 2028 (US$ Million)
Table 2. US: Voice Biometrics, By Component –Revenue and Forecast to 2028 (US$ Million)
Table 3. US: Voice Biometrics Market, By Type–Revenue and Forecast to 2028 (US$ Million)
Table 4. US: Voice Biometrics Market, By Authentication Process–Revenue and Forecast to 2028 (US$ Million)
Table 5. US: Voice Biometrics Market, By Deployment–Revenue and Forecast to 2028 (US$ Million)
Table 6. US: Voice Biometrics Market, By Vertical–Revenue and Forecast to 2028 (US$ Million)
Table 7. US: Voice Biometrics Market, By Application–Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada: Voice Biometrics, By Component –Revenue and Forecast to 2028 (US$ Million)
Table 9. Canada: Voice Biometrics Market, By Type–Revenue and Forecast to 2028 (US$ Million)
Table 10. Canada: Voice Biometrics Market, By Authentication Process–Revenue and Forecast to 2028 (US$ Million)
Table 11. Canada: Voice Biometrics Market, By Deployment–Revenue and Forecast to 2028 (US$ Million)
Table 12. Canada: Voice Biometrics Market, By Vertical–Revenue and Forecast to 2028 (US$ Million)
Table 13. Canada: Voice Biometrics Market, By Application–Revenue and Forecast to 2028 (US$ Million)
Table 14. Mexico: Voice Biometrics, By Component –Revenue and Forecast to 2028 (US$ Million)
Table 15. Mexico: Voice Biometrics Market, By Type–Revenue and Forecast to 2028 (US$ Million)
Table 16. Mexico: Voice Biometrics Market, By Authentication Process–Revenue and Forecast to 2028 (US$ Million)
Table 17. Mexico: Voice Biometrics Market, By Deployment–Revenue and Forecast to 2028 (US$ Million)
Table 18. Mexico: Voice Biometrics Market, By Vertical–Revenue and Forecast to 2028 (US$ Million)
Table 19. Mexico: Voice Biometrics Market, By Application–Revenue and Forecast to 2028 (US$ Million)
Table 20. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Voice Biometrics Market Segmentation
Figure 2. North America Voice Biometrics Market Segmentation – By Country
Figure 3. North America Voice Biometrics Market Overview
Figure 4. North America Voice Biometrics Market, by Component
Figure 5. North America Voice Biometrics Market, by Type
Figure 6. North America Voice Biometrics Market, by Authentication Process
Figure 7. North America Voice Biometrics Market, by Deployment
Figure 8. North America Voice Biometrics Market, by Vertical
Figure 9. North America Voice Biometrics Market, by Application
Figure 10. North America Voice Biometrics Market, by Country
Figure 11. North America: PEST Analysis
Figure 12. North America Voice Biometrics Market- Ecosystem Analysis
Figure 13. North America Voice biometrics Market Impact Analysis of Drivers and Restraints
Figure 14. North America Voice Biometrics Market Revenue Forecast and Analysis (US$ Million)
Figure 15. North America Voice Biometrics Market Revenue Forecast Share, by Component (2021 and 2028)
Figure 16. Solution: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Services: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. North America Voice Biometrics Market Revenue Forecast Share, by Type (2021 and 2028)
Figure 19. Active Voice Biometrics: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Passive Voice Biometrics: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. North America Voice Biometrics Market Revenue Forecast Share, by Authentication Process (2021 and 2028)
Figure 22. Automated IVR: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Agent-Assisted: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Mobile Applications: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Employee Authentication: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. North America Voice Biometrics Market Revenue Forecast Share, by Deployment (2021 and 2028)
Figure 27. Cloud: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. On-premise: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. North America Voice Biometrics Market Revenue Forecast Share, by Vertical (2021 and 2028)
Figure 30. BFSI: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Retail & Ecommerce: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Government & & Defense: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. IT & Telecom: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 34. Healthcare & Life Sciences: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. Transportation & Logistics: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 36. Travel & Hospitality: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 37. Energy & Utilities: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 38. Others: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 39. North America Voice Biometrics Market Revenue Forecast Share, by Application (2021 and 2028)
Figure 40. Authentication and Customer Verification: North America Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 41. Forensic Voice Analysis and Criminal Investigation: North America Voice Biometrics Market– Revenue and Forecast to 2028 (US$ Million)
Figure 42. Fraud Detection and Prevention: North America Voice Biometrics Market– Revenue and Forecast to 2028 (US$ Million)
Figure 43. Risk and Emergency Management: North America Voice Biometrics Market– Revenue and Forecast to 2028 (US$ Million)
Figure 44. Transaction Processing: North America Voice Biometrics Market– Revenue and Forecast to 2028 (US$ Million)
Figure 45. Access Control: North America Voice Biometrics Market– Revenue and Forecast to 2028 (US$ Million)
Figure 46. Workforce Management: North America Voice Biometrics Market– Revenue and Forecast to 2028 (US$ Million)
Figure 47. Others: North America Voice Biometrics Market– Revenue and Forecast to 2028 (US$ Million)
Figure 48. North America: Voice Biometrics Market, by key Country – Revenue (2021) (US$ Million)
Figure 49. North America: Voice Biometrics Revenue Share, by Key Country (2021 and 2028)
Figure 50. US: Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 51. Canada: Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 52. Mexico: Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)
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