Global Voice Banking Market Overview
According to SPER Market Research, the Global Voice Banking Market is estimated to reach USD 3.82 billion by 2032 with a CAGR of 11.03%.
Voice banking is a process that allows someone to control all typical banking procedures using their voice. When someone is still able to do so, voice banking allows them to record a predetermined list of words and phrases in their own voice. This tape's conversion results in the creation of a customised synthetic voice. Additionally, because it enables customised and qualified support to be offered remotely, voice banking is a useful component of a comprehensive digital customer care strategy. The key benefit is that voice banking enables banks to interact with customers digitally in a secure, efficient, and respectful way. Due to the rapid expansion of digital banking services, there is an increase in demand for voice banking services. In the coming years, it is projected that a greater adoption of cutting-edge technologies in voice banking services would have a positive impact on the development of digital banking. Additionally, the industry is expanding due to the personalization of banking services provided to customers and the decline in in-person bank visits. However, regulatory issues with voice banking as well as worries about security and privacy have arisen as significant business issues. On the other hand, the increasing use of artificial intelligence in voice banking will provide significant opportunities for the market's expansion.
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Impact of COVID-19 on the Global Voice Banking Market
A global economic and public health disaster was brought on by the COVID-19 pandemic. A reduction in the production of vehicle filters was observed across several industries as a result of the full or partial lockdown restrictions imposed across numerous nations to impede the COVID-19 virus's spread. The global supply chain for the automotive industry has been hampered by the COVID-19 pandemic epidemic. In addition, the pandemic resulted in the shutdown of the production facilities and a severe labour shortage. Additionally, the worldwide sales of automobiles came to a halt due to restrictions on pointless travel and a decline in consumer spending power. However, it is anticipated that things will return to normal and that demand for automobiles and Voice Banking will gradually increase.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Component, By Deployment Mode, By Technology, By Application.
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| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America
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| Companies Covered | Acapela Group, Axis Bank, BankBuddy, Central 1 Credit Union, DBS Bank, Emirates NBD Bank, HSBC, NatWest Group, U.S. Bank.
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Global Voice Banking Market Segmentation:
1. By Component:
2. By Deployment Mode:
3. By Technology
- Machine Learning
- Deep Learning
- Natural Language Processing
- Others
4. By Application:
- Banks
- NBFCs
- Credit Unions
- Others
5. By Region
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Size of Global Voice Banking Market (FY’2019-FY’2032)
- Overview of Global Voice Banking Market
- Segmentation of Global Voice Banking Market By Component (Solution, Services)
- Segmentation of Global Voice Banking Market By Deployment Mode (On-Premise, Cloud)
- Segmentation of Global Voice Banking Market By Technology (Machine Learning, Deep Learning, Natural Language Processing, Others)
- Segmentation of Global Voice Banking Market By Application (Banks, NBFCs, Credit Unions, Others)
- Statistical Snap of Global Voice Banking Market
- Growth Analysis of Global Voice Banking Market
- Problems and Challenges in Global Voice Banking Market
- Competitive Landscape in the Global Voice Banking Market
- Impact of COVID-19 and Demonetization on Global Voice Banking Market
- Details on Recent Investment in Global Voice Banking Market
- Competitive Analysis of Global Voice Banking Market
- Major Players in the Global Voice Banking Market
- SWOT Analysis of Global Voice Banking Market
- Global Voice Banking Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Global Voice Banking Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Competitive Landscape
6.1 Global Voice Banking Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Voice Banking Market
7. Global Voice Banking Market, By Component, 2019-2032 (USD Million)
7.1 Solution
7.2 Services
8. Global Voice Banking Market, By Deployment Mode, 2019-2032 (USD Million)
8.1 On-Premise
8.2 Cloud
9. Global Voice Banking Market, By Technology 2019-2032 (USD Million)
9.1 Machine Learning
9.2 Deep Learning
9.3 Natural Language Processing
9.4 Others
10. Global Voice Banking Market, By Application, 2019-2032 (USD Million)
10.1 Banks
10.2 NBFCs
10.3 Credit Unions
10.4 Others
11. Global Commercial Washing M Market, By Region, 2019-2032 (USD Million)
11.1 Global Voice Banking Market Size and Market Share by Region (2019-2025)
11.2 Global Voice Banking Market Size and Market Share by Region (2026-2032)
11.3 Asia-Pacific
11.3.1 Australia
11.3.2 China
11.3.3 India
11.3.4 Japan
11.3.5 South Korea
11.3.6 Rest of Asia-Pacific
11.4 Europe
11.4.1 France
11.4.2 Germany
11.4.3 Italy
11.4.4 Spain
11.4.5 United Kingdom
11.4.6 Rest of Europe
11.5 Middle East and Africa
11.5.1 Kingdom of Saudi Arabia
11.5.2 United Arab Emirates
11.5.3 Rest of Middle East & Africa
11.6 North America
11.6.1 Canada
11.6.2 Mexico
11.6.3 United States
11.7 Latin America
11.7.1 Argentina
11.7.2 Brazil
11.7.3 Rest of Latin America
12.Company Profiles
12.1 Acapela Group
12.1.1 Company details
12.1.2 Financial outlook
12.1.3 Product summary
12.1.4 Recent developments
12.2 Axis Bank
12.2.1 Company details
12.2.2 Financial outlook
12.2.3 Product summary
12.2.4 Recent developments
12.3 BankBuddy
12.3.1 Company details
12.3.2 Financial outlook
12.3.3 Product summary
12.3.4 Recent developments
12.4 Central 1 Credit Union
12.4.1 Company details
12.4.2 Financial outlook
12.4.3 Product summary
12.4.4 Recent developments
12.5 DBS Bank
12.5.1 Company details
12.5.2 Financial outlook
12.5.3 Product summary
12.5.4 Recent developments
12.6 Emirates NBD Bank
12.6.1 Company details
12.6.2 Financial outlook
12.6.3 Product summary
12.6.4 Recent developments
12.7 HSBC
12.7.1 Company details
12.7.2 Financial outlook
12.7.3 Product summary
12.7.4 Recent developments
12.8 IndusInd Bank
12.8.1 Company details
12.8.2 Financial outlook
12.8.3 Product summary
12.8.4 Recent developments
12.9 NatWest Group
12.9.1 Company details
12.9.2 Financial outlook
12.9.3 Product summary
12.9.4 Recent developments
12.10 U.S. Bank
12.10.1 Company details
12.10.2 Financial outlook
12.10.3 Product summary
12.10.4 Recent developments
13.List of Abbreviations
14.Reference Links
15.Conclusion
16.Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
