Pune, India, Jan. 02, 2023 (GLOBE NEWSWIRE) -- Pune, 02 Jan 2023: According to the “Global Voice Banking Market” report published by Maximize Market Research, the market is expected to reach USD 2.75 Billion by 2029, exhibiting a CAGR of 10.81 % during the forecast period (2022-2029)
Global Voice Banking Market Scope and Research Methodology
The reports provide a comprehensive overview of the global Voice Banking market size, growth, supply, demand, share, innovations, and recent developments, and key stakeholders can use the statistics, tables, and figures in this report for strategic planning that leads to the organization's success. The report assists in the analysis of top manufacturers, revenue, and price, as well as Industry sales channels, distributors, traders, and dealers, research findings, company strengths and weaknesses, conclusion, appendix, and data source.
The report covers the key players in the industry, including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price, and Gross Margin Sales, as well as an in-depth examination of the market's competitive landscape and definite data on vendors and thorough subtleties of elements that will challenge the development of significant market vendors.
For data collection, primary & secondary research methods are employed by analysts taking into account the nature of the market for efficient and accurate data. Primary data was gathered through various methods such as surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs and marketing professionals. Secondary data was meticulously collected from a curated selection of sources for maximum reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases. The report thus provides a comprehensive analysis of the Voice Banking Market to get a clear picture of the market.
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Global Voice Banking Market Overview
Voice banking is the technology powered by artificial intelligence that allows users to access banking services over their words or voice commands. For instance, to find a nearby ATM, block their card, or inquire about their account balance, a consumer can either contact their bank's voicebot or speak to the official voice assistant.
Voice Banking Market Growth: The use of artificial intelligence has been developing rapidly. It has transformed how services are delivered in a way that many of us couldn't have predicted. Many people were shocked by the emergence of voice-activated AI technologies like Alexa. Within the framework of information and communication services that they offer, these portable smart speakers can incorporate financial services. Simply put, it can be claimed that banks have advanced to the next stage of AI-driven banking as a result of client expectations and pressure.
Global Voice Banking Market Regional Insights
In 2021, North America commanded the largest share of the Voice Banking market, followed by APAC, Europe, South America, and the Middle East & Africa. This growth is driven by voice-boats are emerging as a game changer in banking service. The regional market is expected to develop as contactless payments gain popularity across North America. According to a survey conducted by MasterCard on contactless payments, 51% of American consumers utilise one or more contactless payment options. These consumers also frequently make cashless transactions, not just after the pandemic's outbreak.
Global Voice Banking Market Segmentation
by Component
- Solution
- Services
by Deployment Mode
- On-Premise
- Cloud
by Application
- Banks
- NBFCs
- Credit Unions
- Others
- by TechnologyMachine Learning
- Deep Learning
- Natural Language Processing
- Others
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Global Voice Banking Market Key Competitors:
- U.S. Bank (US)
- Citigroup (US)
- Axis Bank (India)
- HSBC (UK)
- NatWest Group (UK)
- IndusInd Bank (India)
- BankBuddy (India)
- Central 1 Credit Union (Canada)
- ICICI bank (India)
- United Bank of India (India)
- DBS Bank (Singapore)
- Acapela Group. (Belgium)
- Emirates NBD Bank (UAE)
Key questions answered in the Global Voice Banking Market are:
- What is Voice Banking?
- What is the growth rate of Voice Banking Market for the Forecast period?
- What is the nature of competition in Global Voice Banking industry in developed and developing economies?
- Who are the key players in the Voice Banking Market?
- Who are the market leaders in Voice Banking in Europe
- Who are the market leaders in Voice Banking in USA and Canada
- Who are the market leaders in Voice Banking in India, China, Japan and South Korea?
- What are the factors affecting growth in the Global Voice Banking Market?
- Who held the largest market share in Global Voice Banking Market?
- What are the factors for the growth of Asia-Pacific region in Global Voice Banking Market?
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In the company profile section of the report, the researchers conducted a thorough examination of the major players in the market and the strategies they are employing to combat the fierce competition. The section also includes company profiles and market share analyses of the major players. Furthermore, the experts conducted a thorough examination of each player. They have also provided reliable revenue, market share, and company ranking data for the period 2022-2029. With the help of this report, key players, stakeholders, and other participants will be able to stay up to date on recent and upcoming business developments, allowing them to make more informed decisions.
Maximize Market Research is leading ICT research firm, has also published the following reports:
Banking System Software Market size is expected to reach US$ 45.02 Bn in year 2029, at a CAGR of 5.98% during the forecast period. Increasing implementation of online banking and mobile banking by customers which appearances high level of inclination towards accessing their account details and perform financial actions by digital platform driving the demands for banking system software
Digital Banking Platforms Market was valued at US$ 8.2 Bn in 2021 and is expected to reach US$ 19.17 Bn by 2029, at a CAGR of 11.20% during a forecast period. The growing demand among banks to deliver improved customer experience, increasing implementation of cloud-based platforms to obtain higher scalability.
Video Banking Service Market was valued at USD 70.8 Billion in 2021, and it is expected to reach USD 235.5 Billion by 2029, exhibiting a CAGR of 16.21 % during the forecast period (2022-2029). The entire banking industry is changing as a result of millennials' and Generation Z's increasing desire for a digital banking experience. Furthermore, the surge in new banking technologies that are revolutionising the banking industry is a result of consumers' growing desire to receive financial services digitally.
Online Banking Market was valued at US$ 14.74 Bn. in 2021 and is expected to reach US$ 40.90 Bn. by 2029, at a CAGR of 13.6% during a forecast period. The ease of conducting financial transactions from the comfort of one's own home or other convenient locations is primarily driving the online banking business. Because of the increased use of the Internet around the world, e-commerce and online payment services have exploded.
Core Banking Software Market was valued at US$ 10.35 Bn. in 2021. Global Core Banking Software Market size is expected to grow at a CAGR of 8.2% through the forecast period. The growing desire to access banking administrations through digital channels has resulted in an increase in advanced banking technologies. Increasing interest in digital banking will drive market development over the forecast period.
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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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