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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)
Market Report I 2022-09-07 I 123 Pages I The Insight Partners
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.
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
LIST OF FIGURES
Figure 1. MEA Voice Biometrics Market Segmentation
Figure 2. MEA Voice Biometrics Market Segmentation - By Country
Figure 3. MEA Voice Biometrics Market Overview
Figure 4. MEA Voice Biometrics Market, by Component
Figure 5. MEA Voice Biometrics Market, by Type
Figure 6. MEA Voice Biometrics Market, by Authentication Process
Figure 7. MEA Voice Biometrics Market, by Deployment
Figure 8. MEA Voice Biometrics Market, by Vertical
Figure 9. MEA Voice Biometrics Market, by Application
Figure 10. MEA Voice Biometrics Market, by Country
Figure 11. MEA: PEST Analysis
Figure 12. MEA Voice Biometrics Market- Ecosystem Analysis
Figure 13. MEA Voice biometrics Market Impact Analysis of Drivers and Restraints
Figure 14. MEA Voice Biometrics Market Revenue Forecast and Analysis (US$ Million)
Figure 15. MEA Voice Biometrics Market Revenue Forecast Share, by Component (2021 and 2028)
Figure 16. Solution: MEA Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 17. Services: MEA Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 18. MEA Voice Biometrics Market Revenue Forecast Share, by Type (2021 and 2028)
Figure 19. Active Voice Biometrics: MEA Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 20. Passive Voice Biometrics: MEA Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 21. MEA Voice Biometrics Market Revenue Forecast Share, by Authentication Process (2021 and 2028)
Figure 22. Automated IVR: MEA Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 23. Agent-Assisted: MEA Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 24. Mobile Applications: MEA Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 25. Employee Authentication: MEA Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 26. MEA Voice Biometrics Market Revenue Forecast Share, by Deployment (2021 and 2028)
Figure 27. Cloud: MEA Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 28. On-premise: MEA Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 29. MEA Voice Biometrics Market Revenue Forecast Share, by Vertical (2021 and 2028)
Figure 30. BFSI: MEA Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 31. Retail & Ecommerce: MEA Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 32. Government & Defense: MEA Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 33. IT & Telecom: MEA Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 34. Healthcare & Life Sciences: MEA Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 35. Transportation & Logistics: MEA Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 36. Travel & Hospitality: MEA Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 37. Energy & Utilities: MEA Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 38. Others: MEA Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 39. MEA Voice Biometrics Market Revenue Forecast Share, by Application (2021 and 2028)
Figure 40. Authentication and Customer Verification: MEA Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 41. Forensic Voice Analysis and Criminal Investigation: MEA Voice Biometrics Market- Revenue and Forecast to 2028 (US$ Million)
Figure 42. Fraud Detection and Prevention: MEA Voice Biometrics Market- Revenue and Forecast to 2028 (US$ Million)
Figure 43. Risk and Emergency Management: MEA Voice Biometrics Market- Revenue and Forecast to 2028 (US$ Million)
Figure 44. Transaction Processing: MEA Voice Biometrics Market- Revenue and Forecast to 2028 (US$ Million)
Figure 45. Access Control: MEA Voice Biometrics Market- Revenue and Forecast to 2028 (US$ Million)
Figure 46. Workforce Management: MEA Voice Biometrics Market- Revenue and Forecast to 2028 (US$ Million)
Figure 47. Others: MEA Voice Biometrics Market- Revenue and Forecast to 2028 (US$ Million)
Figure 48. MEA: Voice Biometrics Market, by key Country - Revenue (2021) (US$ Million)
Figure 49. MEA: Voice Biometrics Revenue Share, by Key Country (2021 and 2028)
Figure 50. South Africa: Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 51. UAE: Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 52. Saudi Arabia: Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 53. Rest of MEA: Voice Biometrics Market - Revenue and Forecast to 2028 (US$ Million)
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