Europe Voice Biometrics Market Size, Share, Comprehensive Analysis, Opportunity Assessment by 2028
According to Business Market Insights’ research, the Europe Voice Biometrics Market was valued at US$ 436.45 million in 2022 and is expected to reach US$ 1,357.50 million by 2028, registering an annual growth rate of 20.8% from 2022 to 2028. The growing demand for voice authentication in mobile banking applications and rising emergence of artificial intelligence in voice biometrics are the critical factors attributed to the market expansion.
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The List of Companies - Europe Voice Biometrics MarketAculab
- Auraya, Inc.
- Aware Inc
- NICE Ltd
- Nuance Communications, Inc
- Phonexia
- Pindrop
- SESTEK
- Verint Systems, Inc
- Whispeak
AI-driven speech biometrics technology ensures secure authentication by analyzing a user’s unique voice in real-time during natural language interactions. Unlike traditional authentication methods that rely on static data, this approach makes it extremely difficult for fraudsters to gain unauthorized access. Advances in AI are continuously enhancing the accuracy of speech biometrics, expanding its use beyond identification and personalization to applications like payment authentication.
In October 2021, Google enhanced its Contact Center Artificial Intelligence (CCAI) platform by integrating voice biometrics and conversational AI for call center applications. The platform’s Speaker ID feature enables callers to enroll and authenticate using their voice, streamlining security processes. Some AI-powered automatic speech recognition (ASR) solutions now combine speech recognition with authentication capabilities such as voice biometrics, improving the efficiency of voice-enabled services. By simultaneously identifying users and interpreting their speech, this technology eliminates the need for multi-factor authentication or manual verification by agents. As a result, customers experience faster service, agents spend less time on authentication procedures, and fraud detection becomes more effective.
With AI’s growing role in voice biometrics, the industry is poised for significant advancements, driving future trends in secure and efficient authentication solutions.
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Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications
Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
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