Acknowledging the kind of traction gained by this market, recently published a study report asserts the global Voice Payment Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 9.9% during the review period (2022 to 2027).
Voice Payment Market Overview
Voice Payment 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. The assistants are intended to perform transactions and other financial operations as prompted by voice instructions from the user.
Who are the Major Players in Voice Payment Market?
The global Voice Payment Market includes the identification and analysis of the various market participants competing in the global market. Prominent competitors include Google Inc., Microsoft Corporation, Apple Inc., Amazon, Inc., Cerence Inc., NCR Corporation, Iflytek Co.,Ltd, Huawei, Alibaba.
Industry News and Development:
April 12, 2021, Microsoft buys speech recognition company Nuance in $16B deal, the second-biggest since LinkedIn.
In July 2021, Cerence Inc. announced a collaboration with Harman International to bring voice-enabled third-party apps to the HARMAN ignite store. Automakers who use HARMAN ignite store can give the drivers hands-free, secure access to the platform's full features, with Cerence AI-powered voice recognition providing an intuitive, powerful experience.
What are the major Applications, Types and Regions for Voice Payment Market?
Voice Payment Market is segmented based on the Type, Applications and Regions.
By Type, it is segmented into
By Applications, it is segmented into
- Automotive
- Consumer
- Healthcare
- Banking, financial services & insurance (BFSI)
- Retail
- Government
- Others
Voice Payment Market Regional Analysis
Asia Pacific is anticipated to account for largest revenue share than other regional markets over the forecast period owing to increasing demand for voice-enabled consumer electronics products including smartphones, laptops, smartwatches, and laptops in countries in the region.
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
What is our Voice Payment Market report scope?
Report Attributes
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Report Details
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Forecast Period 2022 to 2027 CAGR
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CAGR of 9.9 % over the forecast period (2022-2027)
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By Type
|
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By Application
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- Automotive
- Consumer
- Healthcare
- Banking, financial services & insurance (BFSI)
- Retail
- Government
- Others
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By Companies
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Google Inc., Microsoft Corporation, Apple Inc., Amazon, Inc., Cerence Inc., NCR Corporation, Iflytek Co.,Ltd, Huawei, Alibaba
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Regions Covered
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- North America
- Europe
- Asia-Pacific
- Rest of the World
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Countries Covered
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- US
- Canada
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Base Year
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2022
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Historical Year
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2017 to 2021
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Forecast Year
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2022 to 2027
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Number of Pages
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87
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Customization Available
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Yes, the report can be customized as per your needs
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Key Takeaways from this Voice Payment Report
- Evaluate Voice Payment market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.
- Analyze the sales and distribution channels across geographies to enhance top-line revenues.
- Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the Voice Payment market entropy - M&A's, deals, partnerships, product launches of all key players for the past 5 years.
- Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.
Frequently Asked Questions
How do you conduct primary research interviews?
We use tools such as video conferences, telephone calls, face-to-face interviews, and questionnaires with key respondents.
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Who are the key players in Voice Payment Market?
Google Inc., Microsoft Corporation, Apple Inc., Amazon, Inc., Cerence Inc., NCR Corporation, Iflytek Co.,Ltd, Huawei, Alibaba
What regions does this Voice Payment Market report cover?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Voice Payment Market?
Software, Hardware
What are the major end-use applications of the Voice Payment Market?
Automotive, Consumer, Healthcare, Banking, financial services & insurance (BFSI), Retail, Government, Others
All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
