The global voice recognition biometrics market is expected to grow at a CAGR of 22.15 percent between 2014 and 2019, according to a recent report by Technavio.
The report covers the present scenario and the growth prospects of the global voice recognition biometrics market during the aforementioned period. To calculate the market size, the report considers revenue generated from the sales of voice recognition biometric solutions, Technavio said.
According to Technavio, voice recognition systems can work in two different ways: text dependent, whereby any texts such as name, birth city, and favorite color, or a sequence of numbers is compared with a sample captured during the voice enrolment process; and text independent, whereby the systems analyze various features of speech such as pitch, cadence, and tone.
"In voice biometrics, an individual’s voice is digitized, which is matched against a stored voiceprint template. Acoustic features of an individual's voice such as pitch, cadence, and tone are compared to differentiate between different individuals," the research firm said. "Voice verification systems require minimal hardware installation as many PCs already have a microphone. Also, unlike other biometric technologies, voice biometrics authenticates individuals in remote locations for various transactions."