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TechNavio Announces the Publication of its Research Report -Global Voice Recognition Market 2012-201
The key vendors dominating this market space are Nuance Communications Inc., MModal Inc., and ValidSoft Ltd.
Commenting on the report, an analyst from TechNavio’s Enterprise Computing team said: “The need for stronger verification is leading to the growing integration of voice authentication into mobile banking. In regions such as North America and Western Europe, a large number of banking customers use phone banking facilities. Large numbers of these financial institutions are adopting voice-based authentication solutions to accept or reject mobile transactions by a user. In addition, incorporating voice authentication in mobile devices is cost effective and at the same time provides stronger security. Hence, the trend of integrating voice authentication in mobile banking is expected to grow stronger over the years. Indeed, phone-based banking institutions are partnering with voice authentication vendors and the incorporation of voice metrics is becoming a key competitive advantage.”
According to the report, usage of speaker identification technology for forensic purposes is one of the major drivers of the Global Voice Recognition market. It undergoes a complex process of determining if the voice of a crime suspect matches the voice of forensic samples. This technology enables crime departments to identify criminals with one of the most unique human characteristics, the voice, thereby offering a relatively high level of accuracy. Forensic experts match the voice of suspects with samples until they find the criminal. Recently this technology has been utilized to help solve several criminal cases.
Further, the report reveals that the difficulty of suppressing ambient noise is one of the major challenges confronting this market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit http://www.technavio.com/
TechNavio, the market research platform of Infiniti Research Ltd, publishes periodic market research reports on niche and emerging technologies. For more information on our Enterprise Computing market research, please visit http://www.technavio.com/
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