The 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 the latest analysis by Emergen Research. Some major factors driving global voice payment market revenue growth include a rapid increase in usage and dependence on virtual assistants and the 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.
The Global Voice Payment Market research study published by Emergen Research is an extensive collection of insightful information The report covers the Voice Payment Market segmentation along with a detailed outline of the size with regards to volume and valuation. The report provides comprehensive coverage of the Voice Payment Market scenario for the current period and a forecast timeline for 2028. The Voice Payment Market report contains an in-depth analysis of the historical, current, and projected revenues for every industry vertical, segment, end-use industry, application, and region
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Voice Payment Market report also includes an insightful study of the prominent players in the industry along with their business overview, strategic planning, and business expansion plans adopted by them. This assists the readers and business owners in formulating strategic expansion and investment plans. The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and others. The report also talks about the expansions these prominent players are vying for in the key regions of the market. The report focuses on a detailed analysis of the technological and product developments undertaken by these companies.
The key companies studied in the report are:
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
Based on regional analysis, the market is segmented into the following regions: North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The market is expected to be dominated by North American nations closely followed by European countries. Asia Pacific is expected to show significant growth owing to recent advancements and rising investments in the RD sector.
Emergen Research has segmented the global voice payment market based on 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
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The report addresses the following key points:
- The report estimates the expected market size from 2018-to 2028
- The report provides a forecast of market drivers, restraints, and future opportunities for the Voice Payment Market
- The report further analyses the changing market dynamics
- Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
- Extensive competitive landscape mapping with profiles of the key competitors
- In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
- Revenue forecast, country scope, application insights, and product insights
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