Voice-based payments market expected to reach $14.37 billion by 2030, driven by AI technology integration
From GlobeNewswire: 2024-12-12 09:15:00
The global voice-based payments market is on the rise, fueled by AI technology integration and growth in the BFSI sector. Market trends, key players, and future opportunities are analyzed in the report, projecting strong growth in component, enterprise size, industry, and geography segments. Contactless payments are increasingly popular, with voice-based payments offering a convenient, hands-free option for consumers. The US market is expected to grow significantly due to high technological penetration and smart device usage. Collaboration between industry players is driving the development of voice-enabled technologies, enhancing the market’s growth potential. North America leads the market, with Europe and Asia Pacific following closely. The voice-based payments market is dominated by large enterprises, with the BFSI industry holding the largest share. The market is segmented into regions like North America and Europe, with key players including NCR Corporation and Amazon. Recent innovations include advancements in ASR technology and vernacular language voice payments by companies like PCI Pal and ToneTag, respectively.
The voice-based payments market is expected to reach $14.37 billion by 2030, offering significant opportunities for various stakeholders. Companies can capitalize on this growth by staying updated on market trends, embracing innovation, and focusing on quality and performance. Key related reports include analyses on contactless payments, digital payments, and biometric payment cards.
The industry is witnessing rapid growth due to advancements in voice commerce solutions, leading to increased customer interest in voice payment options. Businesses can leverage voice-based payment solutions to provide seamless and intuitive payment experiences, enhancing customer satisfaction and potentially boosting conversion rates. Additionally, these technologies can streamline internal payment processes, offering a more efficient way to handle financial transactions.
For more information on the voice-based payments market, including region-specific data and in-depth market forecasts, interested parties can access sample pages and request a PDF brochure from The Insight Partners. Key players in the market are adopting strategies like new product launches and geographical expansion to maintain their competitive edge, ensuring continued growth and innovation in the industry. 1. The stock market experienced a significant drop today, with the Dow Jones Industrial Average falling by over 500 points. This decline was attributed to concerns over rising inflation and interest rates, causing investors to sell off their shares.
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