Voice Activated Transactions Market - Global Industry Analysis

Voice Activated Transactions Market Size - By Component (Software and Hardware), By Application (Automotive, Banking, Financial Services, and Insurance (BFSI), Consumer, Government, Retail, and Healthcare), And By Region- Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026

Published Date: 22-Apr-2021 Category: Technology & Media Report Format : PDF Pages: 110 Report Code: ZMR-6141 Status : Published

The global Voice Activated Transactions market accrued earnings worth approximately 20.1 (USD Billion) in 2019 and is predicted to gain revenue of about 31.1(USD Billion) by 2026, is set to record a CAGR of nearly 10.1% over the period from 2020 to 2026.

Description

Global Voice Activated Transactions Market Overview

The global Voice Activated Transactions market accrued earnings worth approximately 20.1 (USD Billion) in 2019 and is predicted to gain revenue of about 31.1(USD Billion) by 2026, is set to record a CAGR of nearly 10.1% over the period from 2020 to 2026. The report offers an assessment and analysis of the Voice Activated Transactions market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).

Global Voice Activated Transactions Market

Introduction

Recently, voice has been developed as the most authentication method as it is a unique feature of an individual. Moreover, researchers have utilized this technique for identifying persons through unique voice patterns. This has boosted the prominence and frequency of voice activated transactions across the globe. BFSI has made a large allocation of funds in voice activated transactional activities and this is predicted to promulgate the expansion of voice activated transactions industry in the forthcoming years.

Moreover, the technique helps in saving the customer time of memorizing passwords and undergoing time-consuming online login procedures during payment through POS devices. With trending voice activated transaction activities, the process of sending & receiving currency becomes more user-friendly along with being more secured. The voice activated transaction software product is available on many Android systems, MS-Windows Smartphones, iPhones, and Blackberry.

Report Scope

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Market Growth Dynamics

With rising ecommerce transactions & digital retail activities due to online shopping of household consumable products like detergent and paper towels, the voice activated transactions market is projected to register a marked growth in the years to come. Online purchase of movies & music CDs has further enhanced the popularity & vogue of voice activated transactions across different sectors. Nonetheless, vocal problems in individuals and elderly people can adversely impact the market size.

Launching of voice based accounting solutions by banks for assisting consumers to make use of their voice to check their account balance and transaction details will further boost the market trends. With onset of AI and Big Data as well as cloud computing & IoT, the voice activated transactions market is likely to have huge growth prospects in the next decade.

Furthermore, Alexa, Siri, and google voice payments becoming a part of iPhones, Smart Watches, and smartphones, the voice activated transactions industry is forecast to experience luminous surge over 2020-2026. Fintech giants are using these voice activate transactions and launching of new technologies will further enhance their use in Fintech sector in the near future. Reportedly, voice activated transactions are likely to gain popularity in the developed countries such as the U.S. with the prominent increase in its use due to rise in the voice-driven equipment, rampant gains in AI, and strong value proposition for payments through voice.

In addition to this, rapidly expanding ecommerce firms such as Amazon, Google, PayPal, and Apple are making the voice activated payment transactions possible and secured along with rolling out new next-gen technologies for voice based payments. This, in turn, will increase the market reach as well as the penetration of the voice activated business deals in the upcoming years.

Furthermore, COVID 19 pandemic has forced the financial institutions to go for touchless fiscal voice activated business deals and this is anticipated to systematically define the growth of voice activated transactions market. Introduction of natural language processing & machine learning and breakthroughs in smart devices sector along with rise in the voice-driven payment system use has further prompted the voice activated transactional activities across myriad industries in the recent years.

Asia Pacific Market To Record Stupendous Growth By 2026

The regional market expansion over 2020-2026 can be credited to burgeoning demand for consumer electronics goods like smartphones, laptops, smartwatches, and tablets embedded with voice activated systems in the countries like India, Taiwan, Singapore, South Korea, Japan, China, Malaysia, and Philippines. Increase in the mobile banking activities due to rapid spread of COVID 19 in countries like India and China will expand the scope of voice activated transactions business in the sub-continent over the prognostic period.

Key participants profiled in the report include Google Inc., Microsoft Corporation, Apple Inc., Amazon, Inc., and NCR Corporation.

The global Voice Activated Transactions Market is segmented as follows:

By Component  

  • Software
  • Hardware

By Application

  • Automotive
  • Consumer
  • Healthcare
  • Banking, financial services & insurance (BFSI)
  • Retail
  • Government

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1. Report Description and Scope
    • 1.2. Research Scope
    • 1.3. Research Methodology
      • 1.3.1. Market Research Type
      • 1.3.2. Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1. Voice Activated Transactions Market, 2016–2026(USD Billion)
    • 2.2. Voice Activated Transactions Market: Snapshot
  • Chapter 3. Global Voice Activated Transactions Market– Industry Analysis
    • 3.1. Voice Activated Transactions Market: Market Dynamics
    • 3.2. Market Drivers
      • 3.2.1. Rapidly expanding ecommerce firms such as Amazon, Google, PayPal, and Apple are making the voice activated payment transactions possible and secured along with rulling out new next-gen technulogies for voice based payments. This, in turn, will increase the penetration of the voice activated business deals in the upcoming years.
      • 3.2.2. COVID 19 pandemic has forced the financial institutions to go for touchless fiscal voice activated business deals and this is anticipated to systematically chart the growth of voice activated transactions market.
    • 3.3. Porter’s Five Forces Analysis
    • 3.4. Market Attractiveness Analysis
      • 3.4.1. Market attractiveness analysis By Component
      • 3.4.2. Market attractiveness analysis By Application
  • Chapter 4. Global Voice Activated Transactions Market– Competitive Landscape
    • 4.1. Company market share analysis
      • 4.1.1. Global Voice Activated Transactions Market: company market share, 2019
    • 4.2. Strategic development
      • 4.2.1. Acquisitions & mergers
      • 4.2.2. New Technology launches
      • 4.2.3. Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4. Research and development and Regional expansion
    • 4.3. Price trend analysis
  • Chapter 5. Global Voice Activated Transactions Market– Component Analysis
    • 5.1. Global Voice Activated Transactions Market overview: By Component
      • 5.1.1. Global Voice Activated Transactions Market share, By Component , 2019 and 2026
    • 5.2. Software
      • 5.2.1. Global Telecommunications Products Marketby Software , 2016–2026(USD Billion)
    • 5.3. Hardware
      • 5.3.1. Global Voice Activated Transactions Marketby Hardware, 2016–2026(USD Billion)
  • Chapter 6. Global Voice Activated Transactions Market– Application Analysis
    • 6.1. Global Voice Activated Transactions Market overview: By Application
      • 6.1.1. Global Voice Activated Transactions Market share, By Application , 2019 and 2026
    • 6.2. Banking, financial services & insurance (BFSI)
      • 6.2.1. Global Telecommunications Products Market by Banking, financial services & insurance (BFSI), 2016–2026(USD Billion)
    • 6.3. Automotive
      • 6.3.1. Global Voice Activated Transactions Market by Automotive, 2016–2026(USD Billion)
    • 6.4. Retail
      • 6.4.1. Global Voice Activated Transactions Market by Retail, 2016–2026(USD Billion)
    • 6.5. Consumer
      • 6.5.1. Global Voice Activated Transactions Market by Consumer, 2016–2026(USD Billion)
    • 6.6. Government
      • 6.6.1. Global Voice Activated Transactions Market by Government, 2016–2026(USD Billion)
    • 6.7. Healthcare
      • 6.7.1. Global Voice Activated Transactions Market by Healthcare, 2016–2026(USD Billion)
  • Chapter 7. Company Profiles
    • 7.1. Google Inc.
      • 7.1.1. Overview
      • 7.1.2. Financials
      • 7.1.3. Technology Portfolio
      • 7.1.4. Business Strategy
      • 7.1.5. Recent Developments
    • 7.2. Microsoft Corporation
      • 7.2.1. Overview
      • 7.2.2. Financials
      • 7.2.3. Technology Portfolio
      • 7.2.4. Business Strategy
      • 7.2.5. Recent Developments
    • 7.3. Apple Inc.
      • 7.3.1. Overview
      • 7.3.2. Financials
      • 7.3.3. Technology Portfolio
      • 7.3.4. Business Strategy
      • 7.3.5. Recent Developments
    • 7.4. Amazon, Inc.
      • 7.4.1. Overview
      • 7.4.2. Financials
      • 7.4.3. Technology Portfolio
      • 7.4.4. Business Strategy
      • 7.4.5. Recent Developments
    • 7.5. NCR Corporation
      • 7.5.1. Overview
      • 7.5.2. Financials
      • 7.5.3. Technology Portfolio
      • 7.5.4. Business Strategy
      • 7.5.5. Recent Development

Table Of Figures

List of Figures

1. Market research Type
2. Market research methodology
3. Global Voice Activated Transactions Market, 2016–2026(USD Billion)
4. Porter’s Five Forces Analysis
5. Global Voice Activated Transactions Marketattractiveness, By Component   
6. Global Voice Activated Transactions Marketattractiveness, By Application 
7. Global Voice Activated Transactions Marketshare by Component   ,2019 and 2026 (USD Billion)
8. Global Voice Activated Transactions Marketby Software  ,2016–2026(USD Billion)
9. Global Voice Activated Transactions Marketby Hardware,2016–2026(USD Billion)
10. Global Voice Activated Transactions Marketshare by Application ,2019 and 2026 (USD Billion)
11. Global Voice Activated Transactions Marketby Banking, financial services & insurance (BFSI), 2016–2026(USD Billion)
12. Global Voice Activated Transactions Marketby Automotive, 2016–2026(USD Billion)
13. Global Voice Activated Transactions Marketby Retail, 2016–2026(USD Billion)
14. Global Voice Activated Transactions Marketby Consumer, 2016–2026(USD Billion)
15. Global Voice Activated Transactions Marketby Government, 2016–2026(USD Billion)
16. Global Voice Activated Transactions Marketby Healthcare, 2016–2026(USD Billion)
17. Global Voice Activated Transactions Marketshare, by Region, 2019 and 2026
18. North America Voice Activated Transactions Market, 2016–2026(USD Billion)
19. Europe Voice Activated Transactions Market, 2016–2026(USD Billion)
20. Asia Pacific Voice Activated Transactions Market, 2016–2026(USD Billion)
21. Latin America Voice Activated Transactions Market, 2016–2026(USD Billion)
22. The Middle East and Africa Voice Activated Transactions Market, 2016–2026(USD Billion)
 


Table Of Tables

List of Tables

1. Global Voice Activated Transactions Market: snapshot
2. Drivers of the Voice Activated Transactions Market: impact analysis
3. North America Voice Activated Transactions Market revenue, By Component   , 2016–2026(USD Billion)
4. North America Voice Activated Transactions Market revenue, By Application  ,2016–2026(USD Billion)
5. The U.S. Voice Activated Transactions Market revenue, By Component   , 2016–2026(USD Billion)
6. The U.S. Voice Activated Transactions Market revenue, By Application  ,2016–2026(USD Billion)
7. Rest of North America Voice Activated Transactions Market revenue, By Component   , 2016–2026(USD Billion)
8. Rest of North America Voice Activated Transactions Market revenue, By Application  ,2016–2026(USD Billion)
9. Europe Voice Activated Transactions Market revenue, By Component   , 2016–2026(USD Billion)
10. Europe Voice Activated Transactions Market revenue, By Application  ,2016–2026(USD Billion)
11. UK Voice Activated Transactions Market revenue, By Component   , 2016–2026(USD Billion)
12. UK Voice Activated Transactions Market revenue, By Application  ,2016–2026(USD Billion)
13. France Voice Activated Transactions Market revenue, By Component   , 2016–2026(USD Billion)
14. France Voice Activated Transactions Market revenue, By Application  ,2016–2026(USD Billion)
15. Germany Voice Activated Transactions Market revenue, By Component   , 2016–2026(USD Billion)
16. Germany Voice Activated Transactions Market revenue, By Application  ,2016–2026(USD Billion)
17. Rest of Europe Voice Activated Transactions Market revenue, By Component   , 2016–2026(USD Billion)
18. Rest of Europe Voice Activated Transactions Market revenue, By Application  ,2016–2026(USD Billion)
19. Asia Pacific Voice Activated Transactions Market revenue, By Component   , 2016–2026(USD Billion)
20. Asia Pacific Voice Activated Transactions Market revenue, By Application  ,2016–2026(USD Billion)
21. China Voice Activated Transactions Market revenue, By Component   , 2016–2026(USD Billion)
22. China Voice Activated Transactions Market revenue, By Application  ,2016–2026(USD Billion)
23. Japan Voice Activated Transactions Market revenue, By Component   , 2016–2026(USD Billion)
24. Japan Voice Activated Transactions Market revenue, By Application  ,2016–2026(USD Billion)
25. India Voice Activated Transactions Market revenue, By Component   , 2016–2026(USD Billion)
26. India Voice Activated Transactions Market revenue, By Application  ,2016–2026(USD Billion)
27. Rest of Asia Pacific Voice Activated Transactions Market revenue, By Component   , 2016–2026(USD Billion)
28. Rest of Asia Pacific Voice Activated Transactions Market revenue, By Application  ,2016–2026(USD Billion)
29. Latin America Voice Activated Transactions Market revenue, By Component   , 2016–2026(USD Billion)
30. Latin America Voice Activated Transactions Market revenue, By Application  ,2016–2026(USD Billion)
31. Brazil Voice Activated Transactions Market revenue, By Component   , 2016–2026(USD Billion)
32. Brazil Voice Activated Transactions Market revenue, By Application  ,2016–2026(USD Billion)
33. Rest of Latin America Voice Activated Transactions Market revenue, By Component   , 2016–2026(USD Billion)
34. Rest of Latin America Voice Activated Transactions Market revenue, By Application  ,2016–2026(USD Billion)
35. The Middle East and Africa Voice Activated Transactions Market revenue, By Component   , 2016–2026(USD Billion)
36. The Middle East and Africa Voice Activated Transactions Market revenue, By Application  ,2016–2026(USD Billion)
37. Saudi Arabia Voice Activated Transactions Market revenue, By Component   , 2016–2026(USD Billion)
38. Saudi Arabia Voice Activated Transactions Market revenue, By Application  ,2016–2026(USD Billion)
39. South Africa Voice Activated Transactions Market revenue, By Component   , 2016–2026(USD Billion)
40. South Africa Voice Activated Transactions Market revenue, By Application  ,2016–2026(USD Billion)
41. Rest of the Middle East & Africa Voice Activated Transactions Market revenue, By Component   , 2016–2026(USD Billion)
42. Rest of the Middle East & Africa Voice Activated Transactions Market revenue, By Application  ,2016–2026(USD Billion)

 

 
 

Methodology

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FrequentlyAsked Questions

With rising ecommerce transactions & digital retail activities due to online shopping of household consumable products like detergent and paper towels, the voice activated transactions market is projected to register a marked growth in the years to come. Online purchase of movies & music CDs has further enhanced the popularity & vogue of voice activated transactions across different sectors. Launching of voice based accounting solutions by banks for assisting consumers to make use of their voice to check their account balance and transaction details will further boost the market trends. With onset of AI and Big Data as well as cloud computing & IoT, the voice activated transactions market is likely to have huge growth prospects in the next decade. Furthermore, Alexa, Siri, and google voice payments becoming a part of iPhones, Smart Watches, and smartphones, the voice activated transactions industry is forecast to experience luminous surge over 2020-2026. Fintech giants are using these voice activate transactions and launching of new technologies will further enhance their use in Fintech sector in the near future.

According to Zion market research report, the global Voice Activated Transactions market accrued earnings worth approximately 20.1 (USD Billion) in 2019 and is predicted to gain revenue of about 31.1(USD Billion) by 2026, is set to record a CAGR of nearly 10.1% over the period from 2020 to 2026.

Asia Pacific region will contribute lucratively towards the global market value over the estimated timeline. The burgeoning demand for consumer electronics goods like smartphones, laptops, smartwatches, and tablets embedded with voice activated systems in the countries like India, Taiwan, Singapore, South Korea, Japan, China, Malaysia, and Philippines will steer the regional business sphere. In addition to this, surge in the mobile banking activities owing to rapid spread of COVID 19 in countries like India and China will enlarge the scope of voice activated transactions business in the sub-continent over the prognostic period.

The key market participants include Google Inc., Microsoft Corporation, Apple Inc., Amazon, Inc., and NCR Corporation.

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