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Global Voice-based Payments Market to reach USD 12.2 billion by 2028.

Global Voice-based Payments Market Size study, byComponent (Software, Hardware), By Enterprise Size (Large Enterprises, Small & Medium Enterprises), By End Use (BFSI, Automotive, Healthcare, Retail, Government and Others)and Regional Forecasts 2022-2028

Product Code: ENGE-90601597
Publish Date: 23-05-2022
Page: 200

Global Voice-based Payments Market is valued approximately USD 5.80 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 11% over the forecast period 2022-2028. Voice-enabled payment systems allow bank customers to examine account details and execute financial transactions using voice requests, among other things. As a result, a growing number of banks are introducing voice-based payment solutions to improve their customers’ experiences.The market is likely to develop as financial institutions and merchants continue to roll out voice-based payments in order to gain seamless access to personal data and better understand customer behaviour. During the projected period, the market is expected to rise due to the increasing acceptance of peer-to-peer voice-based payments around the world. Several banks, including Barclays and the Royal Bank of Canada, have begun to offer consumers voice-enabled peer-to-peer payments. One of the primary factors driving the market’s growth is the integration of voice-based payment systems in automobiles. Innovative services are being aggressively pushed to allow drivers to utilise voice assistants in their cars to pay for gas and make restaurant reservations, among other things. Amazon, for example, announced the introduction of Alexa Custom Assistant in January 2021, a service that allows device manufacturers and automakers to create their own digital assistants. Fiat Chrysler would be the first automaker to employ this service to create a digital assistant for a limited number of vehicles. However, during the projection period, rising worries about the level of security given by voice-based payments are projected to limit market expansion.

The key regions considered for the global Voice-based Payments Marketstudy includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the voice-based payments business. The regional market is projected to be boosted by the growing preference for contactless payments across North America. Whereas, During the projection period, Asia Pacific is expected to grow at the fastest rate. The rise can be ascribed to a growing awareness of the advantages of voice-based payments in countries such as China, India, and Japan. Voice-based payments are likely to rise as a result of the active efforts being made by numerous organisations around Asia Pacific to encourage their use.

Major market player included in this report are:
NCR Corporation
Amazon.com, Inc.
Huawei Technologies Co., Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Enterprise Size:
Large Enterprises
Small & Medium Enterprises
By End-use:
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Voice-based Payments Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Billion)
1.2.1. Voice-based Payments Market, by Region, 2020-2028 (USD Billion)
1.2.2. Voice-based Payments Market, by Component,2020-2028 (USD Billion)
1.2.3. Voice-based Payments Market, by Enterprise Size,2020-2028 (USD Billion)
1.2.4. Voice-based Payments Market, by End-use,2020-2028 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Voice-based Payments Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Voice-based Payments Market Dynamics
3.1. Voice-based Payments Market Impact Analysis (2020-2028)
3.1.1. Market Drivers Increasing demand for contactless payments Rising demand for voice assistant-enabled devices
3.1.2. Market Challenges Security issues associated with voice-based payments
3.1.3. Market Opportunities The investments being raised by voice assistant solution providers
Chapter 4. Global Voice-based Payments MarketIndustry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Voice-based Payments Market, by Component
6.1. Market Snapshot
6.2. Global Voice-based Payments Market by Component, Performance – Potential Analysis
6.3. Global Voice-based Payments Market Estimates & Forecasts by Component2018-2028 (USD Billion)
6.4. Voice-based Payments Market, Sub Segment Analysis
6.4.1. Software
6.4.2. Hardware
Chapter 7. Global Voice-based Payments Market, by Enterprise Size
7.1. Market Snapshot
7.2. Global Voice-based Payments Market by Enterprise Size, Performance – Potential Analysis
7.3. Global Voice-based Payments Market Estimates & Forecasts by Enterprise Size2018-2028 (USD Billion)
7.4. Voice-based Payments Market, Sub Segment Analysis
7.4.1. Large Enterprises
7.4.2. Small & Medium Enterprises
Chapter 8. Global Voice-based Payments Market, by End-use
8.1. Market Snapshot
8.2. Global Voice-based Payments Market by End-use, Performance – Potential Analysis
8.3. Global Voice-based Payments Market Estimates & Forecasts by End-use2018-2028 (USD Billion)
8.4. Voice-based Payments Market, Sub Segment Analysis
8.4.1. BFSI
8.4.2. Automotive
8.4.3. Healthcare
8.4.4. Retail
8.4.5. Government
8.4.6. Others
Chapter 9. Global Voice-based Payments Market, Regional Analysis
9.1. Voice-based Payments Market, Regional Market Snapshot
9.2. North America Voice-based Payments Market
9.2.1. U.S.Voice-based Payments Market Componentbreakdown estimates & forecasts, 2018-2028 Enterprise Sizebreakdown estimates & forecasts, 2018-2028 End-use breakdown estimates & forecasts, 2018-2028
9.2.2. CanadaVoice-based Payments Market
9.3. Europe Voice-based Payments Market Snapshot
9.3.1. U.K. Voice-based Payments Market
9.3.2. Germany Voice-based Payments Market
9.3.3. France Voice-based Payments Market
9.3.4. Spain Voice-based Payments Market
9.3.5. Italy Voice-based Payments Market
9.3.6. Rest of EuropeVoice-based Payments Market
9.4. Asia-PacificVoice-based Payments Market Snapshot
9.4.1. China Voice-based Payments Market
9.4.2. India Voice-based Payments Market
9.4.3. JapanVoice-based Payments Market
9.4.4. Australia Voice-based Payments Market
9.4.5. South Korea Voice-based Payments Market
9.4.6. Rest of Asia PacificVoice-based Payments Market
9.5. Latin America Voice-based Payments Market Snapshot
9.5.1. Brazil Voice-based Payments Market
9.5.2. Mexico Voice-based Payments Market
9.6. Rest of The World Voice-based Payments Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. NCR Corporation Key Information Overview Financial (Subject to Data Availability) Enterprise SizeSummary Recent Developments
10.2.2. Amazon.com, Inc.
10.2.3. PayPal
10.2.4. Paysafe
10.2.5. PCI Pal
10.2.6. Vibepay
10.2.7. Cerence
10.2.8. Huawei Technologies Co., Ltd.
10.2.9. Google
10.2.10. Alibaba
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

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Data Collection:
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To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
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Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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