Growing Demand for Voice Authentication in Mobile Banking Triggering Growth in the Global Voice Recognition Market

The Global Voice Recognition market is expected to grow at a CAGR of 9.40 percent over the period 2014-2019.

Reportstack has announced a new market research report on the Global Voice Recognition Market 2015-2019, which is expected to post a CAGR of 9.40 percent during the forecast period of 2014-2019.

Currently, the Voice Recognition market is associated not only with customer care applications but also with many products and services, showcasing broad applications. Organizations seeking competitive edge want to differentiate their products from other vendors while retaining their customers.



Thus, airlines, banks, and brokerage firms use voice recognition to retain customers while improving the security. The increase in the adoption of wireless devices and the changing customer and business demand for access to unlimited information encourage enterprises to use voice recognition applications.

“The need for a strong verification process is leading to the growing integration of voice authentication in mobile banking,”.

“Phone-based banking institutions are partnering with voice authentication vendors and the incorporation of voice metrics is becoming a key competitive advantage.”

Key Market Drivers

Increased Use of Biometrics

Increase in Need to Improve Competitive Responsiveness

Increased Use of Speaker Identification for Forensic Purposes

Increase in Demand for Voice Recognition in Mobile Devices

Key Market Trends

Increased Demand in Healthcare Industry

Increased Demand for Multi-factor and Multi-modal Authentication

Growing Demand for Voice Authentication in Mobile Banking

Integration of Voice Verification with Speech Recognition

Key Market Vendors

Nuance Communications

Microsoft Corp.

ValidSoft Ltd.

To define the market circumstances in the next 3-4 years, the analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.

To view the table of contents and know more details please visit Global Voice Recognition Market 2015-2019.

For more information: Make an Inquiry about this report HERE! www.reportstack.com/product/189551/global-voice-recognition-…