Middle East and Africa Voice Biometrics Market Forecast to 2028

Report Code : BMIRE00025783 | Region : LAMEA | Industry : Technology, Media and Telecommunications | Published Date : 07/Sep/2022
Middle East and Africa 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 the Middle East & Africa is expected to grow from US$ 114.06 million in 2022 to US$ 316.25 million by 2028; it is estimated to grow at a CAGR of 18.5% from 2022 to 2028.

In banking, voice biometric authentication is based on vocal patterns, with each person having distinct phonetic and morphological characteristics that artificial intelligence (AI) can detect. The approaches are more convenient and provide efficiency as the voice biometrics is contactless. Because there is a larger requirement for security than ever before, biometric authentication is rising to the top of the financial technology landscape. Furthermore, due to the widespread acceptance of online banking, mobile and e-banking are increasingly being utilized regularly to transfer and complete transactions, opening up possible channels for cybercriminals to access a user's account and steal money. The need to deliver safe banking services through mobile applications persists as financial service providers invest in mobile app services, which positively impacts the demand for voice biometrics. Users are utilizing voice biometric authentication methods to authenticate themselves while entering into mobile apps and validate online transactions such as money transfers, online payments, and account settings updates. Users then confirm transactions using their voice rather than dedicated commands quickly and securely. In two-factor systems, voice biometrics is utilized as one of the authentication processes. It is combined with another biometric factor, such as a person's retina, fingerprint, or face, or with knowledge-based authentication approaches, such as a password or a passphrase. For banks, the adoption of speech biometric authentication technology is relatively simple from a technical standpoint. As a result, banks are not required to offer new equipment to consumers to authenticate them using voice biometrics. Furthermore, voice verification software can be integrated with the bank's current internal telephone system (PBX) and controlled either on-premises or cloud storage. For instance, Doha Bank integrated facial and voiced recognition into its mobile banking app for seamless and secure access in February 2022. Doha bank, one of Qatar's leading private commercial banks, included additional biometric authentication features to its mobile banking application to improve the ease and security of goods and services. The bank's innovative technology allows clients to log in to the app using voice recognition, becoming the first bank in Qatar to operate with such technology. In addition to voice recognition, the new function enables Doha Bank clients to use face recognition to navigate the app safely. Thus, the increasing demand for voice authentication in mobile banking applications is driving the demand for voice biometrics.

Middle East & Africa Voice Biometrics Market Revenue and Forecast to 2028 (US$ Million)

Middle East & Africa Voice Biometrics Market Segmentation

The Middle East & Africa voice biometrics market is segmented into component, type, authentication process, deployment, vertical, application, and country. Based on component, the Middle East & Africa voice biometrics market is bifurcated into solution and services. The solution segment dominated the market in 2022. Based on type, the Middle East & Africa 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 Middle East & Africa 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 Middle East & Africa voice biometrics market is bifurcated into cloud and on-premise. The cloud segment dominated the market in 2022. Based on vertical, the Middle East & Africa 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 Middle East & Africa 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 Middle East & Africa voice biometrics market is segmented into South Africa, the UAE, Saudi Arabia, and the Rest of Middle East & Africa. Further, the UAE dominated the market in 2022.

A few of the key players dominating the Middle East & Africa voice biometrics market are Aware Inc; NICE Ltd; Nuance Communications, Inc; SESTEK; and Verint Systems, Inc.

The List of Companies - Middle East and Africa Voice Biometrics Market

● Auraya, Inc.

● Aware Inc

● NICE Ltd

● Nuance Communications, Inc

● Verint Systems, Inc

TABLE OF CONTENTS

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. MEA Voice Biometrics - Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.2.1 MEA

4.3 Ecosystem Analysis

4.4 Expert Opinions

5. MEA Voice Biometrics Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Surge in Demand for Fraud Detection and Prevention System

5.1.2 Rising 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 – MEA Analysis

6.1 MEA Voice Biometrics Market Overview

6.2 MEA Voice Biometrics Market Revenue Forecast and Analysis

7. MEA Voice Biometrics Market – By Component

7.1 Overview

7.2 MEA Voice Biometrics Market, by Component (2021 and 2028)

7.3 Solution

7.3.1 Overview

7.3.2 Solution: MEA Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

7.4 Services

7.4.1 Overview

7.4.2 Services: MEA Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

8. MEA Voice Biometrics Market – By Type

8.1 Overview

8.2 MEA Voice Biometrics Market, by Type (2021 and 2028)

8.3 Active Voice Biometrics

8.3.1 Overview

8.3.2 Active Voice Biometrics: MEA 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: MEA Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

9. MEA Voice Biometrics Market – By Authentication Process

9.1 MEA Voice Biometrics Market, by Authentication Process (2021 and 2028)

9.2 Automated IVR

9.2.1 Overview

9.2.2 Automated IVR: MEA Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

9.3 Agent-Assisted

9.3.1 Overview

9.3.2 Agent-Assisted: MEA Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

9.4 Mobile Applications

9.4.1 Overview

9.4.2 Mobile Applications: MEA Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

9.5 Employee Authentication

9.5.1 Overview

9.5.2 Employee Authentication: MEA Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

10. MEA Voice Biometrics Market– By Deployment

10.1 Overview

10.2 MEA Voice Biometrics Market, by Deployment (2021 and 2028)

10.3 Cloud

10.3.1 Overview

10.3.2 Cloud: MEA Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

10.4 On-premise

10.4.1 Overview

10.4.2 On-premise: MEA Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

11. MEA Voice Biometrics Market – By Vertical

11.1 Overview

11.2 MEA Voice Biometrics Market, by Vertical (2021 and 2028)

11.3 BFSI

11.3.1 Overview

11.3.2 BFSI: MEA Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

11.4 Retail & Ecommerce

11.4.1 Overview

11.4.2 Retail & Ecommerce: MEA Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

11.5 Government & Defence

11.5.1 Overview

11.5.2 Government & Defence: MEA Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

11.6 IT & Telecom

11.6.1 Overview

11.6.2 IT & Telecom: MEA 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: MEA Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

11.8 Transportation & Logistics

11.8.1 Overview

11.8.2 Transportation & Logistics: MEA Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

11.9 Travel & Hospitality

11.9.1 Overview

11.9.2 Travel & Hospitality: MEA Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

11.10 Energy & Utilities

11.10.1 Overview

11.10.2 Energy & Utilities: MEA Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

11.11 Others

11.11.1 Overview

11.11.2 Others: MEA Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

12. MEA Voice Biometrics Market – By Application

12.1 Overview

12.2 MEA 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: MEA 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: MEA 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: MEA 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: MEA Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

12.7 Transaction Processing

12.7.1 Overview

12.7.2 Transaction Processing: MEA Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

12.8 Access Control

12.8.1 Overview

12.8.2 Access Control: MEA Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

12.9 Workforce Management

12.9.1 Overview

12.9.2 Workforce Management: MEA Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

12.10 Others

12.10.1 Overview

12.10.2 Others: MEA Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

13. MEA Voice Biometrics Market – Country Analysis

13.1 Overview

13.1.1 MEA: Voice Biometrics, by Key Country

13.1.1.1 South Africa: Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

13.1.1.1.1 South Africa: Voice Biometrics, By Component

13.1.1.1.2 South Africa: Voice Biometrics Market, By Type

13.1.1.1.3 South Africa: Voice Biometrics Market, By Authentication Process

13.1.1.1.4 South Africa: Voice Biometrics Market, By Deployment

13.1.1.1.5 South Africa: Voice Biometrics Market, By Vertical

13.1.1.1.6 South Africa: Voice Biometrics Market, By Application

13.1.1.2 UAE: Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

13.1.1.2.1 UAE: Voice Biometrics, By Component

13.1.1.2.2 UAE: Voice Biometrics Market, By Type

13.1.1.2.3 UAE: Voice Biometrics Market, By Authentication Process

13.1.1.2.4 UAE: Voice Biometrics Market, By Deployment

13.1.1.2.5 UAE: Voice Biometrics Market, By Vertical

13.1.1.2.6 UAE: Voice Biometrics Market, By Application

13.1.1.3 Saudi Arabia: Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

13.1.1.3.1 Saudi Arabia: Voice Biometrics, By Component

13.1.1.3.2 Saudi Arabia: Voice Biometrics Market, By Type

13.1.1.3.3 Saudi Arabia: Voice Biometrics Market, By Authentication Process

13.1.1.3.4 Saudi Arabia: Voice Biometrics Market, By Deployment

13.1.1.3.5 Saudi Arabia: Voice Biometrics Market, By Vertical

13.1.1.3.6 Saudi Arabia: Voice Biometrics Market, By Application

13.1.1.4 Rest of MEA: Voice Biometrics Market – Revenue and Forecast to 2028 (US$ Million)

13.1.1.4.1 Rest of MEA: Voice Biometrics, By Component

13.1.1.4.2 Rest of MEA: Voice Biometrics Market, By Type

13.1.1.4.3 Rest of MEA: Voice Biometrics Market, By Authentication Process

13.1.1.4.4 Rest of MEA: Voice Biometrics Market, By Deployment

13.1.1.4.5 Rest of MEA: Voice Biometrics Market, By Vertical

13.1.1.4.6 Rest of MEA: 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 Aware Inc.

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 Nuance Communications, 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 NICE Ltd.

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 SESTEK

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 Verint Systems, Inc.

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

16. Appendix

16.1 About The Insight Partners

16.2 Word Index

LIST OF TABLES.

Table 1. MEA Voice Biometrics Market Revenue Forecast and Forecast to 2028 (US$ Million)

Table 2. South Africa: Voice Biometrics, By Component –Revenue and Forecast to 2028 (US$ Million)

Table 3. South Africa: Voice Biometrics Market, By Type–Revenue and Forecast to 2028 (US$ Million)

Table 4. South Africa: Voice Biometrics Market, By Authentication Process–Revenue and Forecast to 2028 (US$ Million)

Table 5. South Africa: Voice Biometrics Market, By Deployment–Revenue and Forecast to 2028 (US$ Million)

Table 6. South Africa: Voice Biometrics Market, By Vertical–Revenue and Forecast to 2028 (US$ Million)

Table 7. South Africa: Voice Biometrics Market, By Application–Revenue and Forecast to 2028 (US$ Million)

Table 8. UAE: Voice Biometrics, By Component –Revenue and Forecast to 2028 (US$ Million)

Table 9. UAE: Voice Biometrics Market, By Type–Revenue and Forecast to 2028 (US$ Million)

Table 10. UAE: Voice Biometrics Market, By Authentication Process–Revenue and Forecast to 2028 (US$ Million)

Table 11. UAE: Voice Biometrics Market, By Deployment–Revenue and Forecast to 2028 (US$ Million)

Table 12. UAE: Voice Biometrics Market, By Vertical–Revenue and Forecast to 2028 (US$ Million)

Table 13. UAE: Voice Biometrics Market, By Application–Revenue and Forecast to 2028 (US$ Million)

Table 14. Saudi Arabia: Voice Biometrics, By Component –Revenue and Forecast to 2028 (US$ Million)

Table 15. Saudi Arabia: Voice Biometrics Market, By Type–Revenue and Forecast to 2028 (US$ Million)

Table 16. Saudi Arabia: Voice Biometrics Market, By Authentication Process–Revenue and Forecast to 2028 (US$ Million)

Table 17. Saudi Arabia: Voice Biometrics Market, By Deployment–Revenue and Forecast to 2028 (US$ Million)

Table 18. Saudi Arabia: Voice Biometrics Market, By Vertical–Revenue and Forecast to 2028 (US$ Million)

Table 19. Saudi Arabia: Voice Biometrics Market, By Application–Revenue and Forecast to 2028 (US$ Million)

Table 20. Rest of MEA: Voice Biometrics, By Component –Revenue and Forecast to 2028 (US$ Million)

Table 21. Rest of MEA: Voice Biometrics Market, By Type–Revenue and Forecast to 2028 (US$ Million)

Table 22. Rest of MEA: Voice Biometrics Market, By Authentication Process–Revenue and Forecast to 2028 (US$ Million)

Table 23. Rest of MEA: Voice Biometrics Market, By Deployment–Revenue and Forecast to 2028 (US$ Million)

Table 24. Rest of MEA: Voice Biometrics Market, By Vertical–Revenue and Forecast to 2028 (US$ Million)

Table 25. Rest of MEA: Voice Biometrics Market, By Application–Revenue and Forecast to 2028 (US$ Million)

Table 26. List of Abbreviation

The List of Companies - Middle East and Africa Voice Biometrics Market

● Auraya, Inc.

● Aware Inc

● NICE Ltd

● Nuance Communications, Inc

● Verint Systems, Inc

Reason To Buy

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Middle East & Africa Voice Biometrics Market.

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● Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the Voice Biometrics Market, as well as those hindering it

● Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

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