Voice Biometrics Market to Reach $2.5 Billion
Biometrics Research Group released a report last week in which it said the voice biometric market could reach $2.5 billion globally across all market sectors in 2015, driven by the banking and financial sector, which is estimated to spend at least $750 million on voice biometrics by 2015.
The report, "Speech and Voice Recognition White Paper," looked at both speech recognition and speaker/voice recognition. It identified Nuance Communications, ValidSoft, and VoiceTrust as industry leaders.
"Biometrics' is entering the mainstream, and user adoption is accelerating, especially around the application of voice technology in banking, which leads the field in terms of ease of use," said Paul Burmester, CEO of ValidSoft," in a statement.
Innovative companies will make use of alternative and traditional channels.