The latest research report by Emergen Research, named ‘Global Voice Payment Market - Forecast to 2028’, entails a comprehensive review of the global Voice Payment Market’s present and future trends. The report gathers viable information on the most established industry players, sales and distribution channels, regional spectrum, estimated market share and size, and revenue estimations over the forecast timeframe. The study is inclusive of a profound analysis of this business sphere focuses on the overall remuneration of the market over the projected period.

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, according to latest analysis by Emergen Research. 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.

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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.

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Global Voice Payment Market Segmentation:

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

  • Hardware
  • Software

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

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

Objectives of the Report:

Study of the global Voice Payment market size by key regions, types, and applications with reference to historical data (2018-2019) and forecast (2021-2028)

Industrial structure analysis of the Voice Payment market by identification of various sub-segments

Extensive analysis of key market players along with their SWOT analysis

Competitive landscape bench marking

Analysis of Voice Payment market based on growth trends, futuristic outlook, and contribution to the total growth of the market

Analysis of drivers, constraints, opportunities, challenges, and risks in the global Voice Payment market

Comprehensive analysis of competitive developments such as expansions, agreements, new product launches, and other strategic alliances

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.

Some of the key participants in this industry include:

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

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Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Regional Outlook of Voice Payment Market:

North America

U.S.

Canada

Mexico

Europe

Germany

U.K.

Italy

France

BENELUX

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

U.A.E.

South Africa

Rest of MEA

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