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.

PayPal

Paysafe

PCI Pal

Vibepay

Cerence

Huawei Technologies Co., Ltd.

Google

Alibaba

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:

ByComponent:

Software

Hardware

By Enterprise Size:

Large Enterprises

Small & Medium Enterprises

By End-use:

BFSI

Automotive

Healthcare

Retail

Government

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

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

Investors