Voice Payment Market Recent Trends, Future Growth, Industry Analysis, Outlook, and Forecasts Report 2028


Increasing introduction of virtual assistants and COVID-19 pandemic are changing how we bank and pay bills and are some key factors driving global voice payment market growth

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Emergen Research’s latest document, titled ‘Global Voice Payment Market - Forecast to 2028,’ is one of the most sought-after market reports involving an in-depth analysis of the global Voice Payment Market. The report’s authors have offered necessary details on the latest Voice Payment Market trends and the crucial parameters impacting both short-term and long-term market growth. Its panoramic view of the Voice Payment Market industry entails useful insights into the estimated Voice Payment Market size, revenue share, and sales distribution networks. Such helpful market insights are bound to help readers outline this industry’s key outcome in the near future.

The global voice payment market size reached USD 19.87 Billion in 2020 and is expected to register a revenue CAGR of 9.8%, during the forecast period. Some major factors driving global voice payment market revenue growth include rapid increase in usage and dependence on virtual assistants and need to social-distance and make contactless purchases and payments due to the COVID-19 pandemic. Global voice payment market revenue is also expected to expand significantly going ahead owing to increasing e-Commerce transactions as well as digital retail activities as a result of rising preference for online purchasing for domestic consumables among a rapidly increasing number of consumers globally.

Voice-enabled and AI-driven devices have already established importance in the IT sector. As a result of rapid technological advancements, virtual assistants are fast becoming more sophisticated and proving to be something that is here to stay. Demand for virtual assistants has increased among users in various developed and developing countries across the globe as accuracy of the technology has increased and trust and dependence continues to grow. As a result of the emergence of virtual assistants, consumer demands have also changed and increased for specific types of services and convenience. Users have become accustomed to using verbal instructions to get things done through their smartphones, and through virtual assistants. Along with rising popularity and rising usage of virtual assistants, a number of majors in the financial sector are considering developing their own native voice assistants or collaborating with technology companies such as Amazon or Google to provide clients with more optimized services.

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Competitive Outlook:

The global Voice Payment market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector.  The global Voice Payment market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers acquisitions, new product launches, and joint ventures.

Key Companies Profiled in the Report:

Microsoft Corporation, Google Inc., Apple Inc., Amazon.com, Inc., NCR Corporation, Huawei Technologies Co., Ltd., Iflytek Co., Ltd, Alibaba Group, Cerence Inc., and Infopulse Ukraine LLC

Target Audience of the Global Voice Payment Market Report:

Key Market Players

Investors

Venture capitalists

Small- and medium-sized and large enterprises

Third-party knowledge providers

Value-Added Resellers (VARs)

Global market producers, distributors, traders, and suppliers

Research organizations, consulting companies, and various alliances interested in this sector

Government bodies, independent regulatory authorities, and policymakers

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The global Voice Payment market report covers the analysis of drivers, trends, limitations, restraints, and challenges arising in the Voice Payment market. The report also discusses the impact of various other market factors affecting the growth of the market across various segments and regions. The report segments the market on the basis of types, applications, and regions to impart a better understanding of the Voice Payment market.

Emergen Research has segmented the global voice payment market on the basis of component,  end-use, and region:

Component Outlook (Revenue, USD Billion; 2018–2028)

  • Hardware
  • Software

End-Use Outlook (Revenue, USD Billion; 2018–2028)

  • Consumer
  • Automotive
  • Healthcare
  • BFSI
  • Government
  • Retail
  • Others

Additionally, the report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.

Detailed Regional Analysis covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Key Benefits of Buying the Global Voice Payment Report:

Comprehensive analysis of the changing competitive landscape

Assists in decision making processes for the businesses along with detailed strategic planning methodologies

The report offers an 8-year forecast and assessment of the Global Voice Payment Market

Helps in understanding the key product segments and their estimated growth rate

In-depth analysis of market drivers, restraints, trends, and opportunities

Comprehensive regional analysis of the Global Voice Payment Market

Extensive profiling of the key stakeholders of the business sphere

Detailed analysis of the factors influencing the growth of the Global Voice Payment Market

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