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SUMMARY
Increased Investment to Propel Voice Verification Market into the GrowthStage The voice verification market is currently in its early growth stage.Awareness about this biometric technology and its use in various vertical andapplication domains is low, posing a major challenge to voice verificationtechnology vendors. The issue of awareness needs to be addressed to promotesignificant investments that can steer the market towards dynamic growth. This Frost & Sullivan research examines the function of voiceverification biometrics in different vertical applications such as PhysicalAccess Control/Time and Attendance, Government and Law Enforcement, PC/NetworkSecurity, Transactional Authentication, and Wireless Device Security along withvertical segments including Government, Financial, Healthcare, Transportation,and Telecommunication. The comprehensive coverage is likely to help clientsposition themselves favorably in the changing market landscape. Voice Verification Solutions Are Cost-Effective and Result in Quick ROI "A critical driver for the voice verification market is its usage incall-center based operations such as password reset and callerauthentication", says the analyst. Financial institutions rely ontelecommunications to offer customized solutions to clients. With an increase inphone banking facilities and customers conducting financial transactionsremotely, the need to implement solutions to ascertain the identity of thecaller is crucial. Voice Verification technology can serve the dual purpose ofguaranteeing customers of the security of their accounts and helping banksreduce fraudulent transactions. Significant savings can also be made by implementing this technology in themanagement information systems of enterprises that are forced to spend valuablemoney, time, and manpower to address the forgotten password requests ofemployees. Further, seamless integration of voice verification technology withspeech recognition allows multi-factor authentication, thereby enhancing thesecurity of the solution. Increasing the Level of Awareness Vital to Promote Voice VerificationBiometrics In order to sustain industry growth, an increasing level of awareness andacceptance among consumers is essential. End-users need to be educated about thelow costs and high return on investment that can be realized by implementingthis technology. Though voice verification does not currently enjoy a significant market sharein the overall biometrics market, its percentage of contribution is anticipatedto increase soon. "Automating business processes such as password resetsand caller authentication with speech-driven solutions utilizing voiceverification generate cost savings and improve call center productivity,"concludes the analyst. TABLE OF CONTENTS
- EXECUTIVE SUMMARY
- Market Overview
- Introduction
- Competitive Analysis
- Major Research Findings
- Opportunities and Forecasts
- Conclusions
- TOTAL WORLD VOICE VERIFICATION MARKET
- Overview
- Introduction
- Market Drivers
- Industry Challenges
- Market Engineering Analysis
- Forecasts and Trends
- Market Forecasts
- Market and Technology Trends
- Competitive Analysis
- Competitive Structure
- Market Share Analysis
- Distribution Channel Analysis
- Application Market Analysis
- Overview
- Physical Access Control / Time and Attendance
- PC/Network Security
- Government and Law Enforcement
- Transactional Authentication
- Wireless Device Security
- Vertical Market Analysis
- Overview
- Government
- Financial
- Healthcare
- Travel and Transportation
- Telecommunication
- Other Verticals
- Frost & Sullivan Awards
- GEOGRAPHIC REGION ANALYSIS
- Overview
- Introduction
- Market Trends
- Analysis by Geographic Region
- North America
- Europe Middle East & Africa
- Asia Pacific
- Latin America
- APPENDIX
- Decision Support Databases
- Installed Base of Mobile Devices
- Installed Base of Business PCs
- Credit Card Fraudulent Spending
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