The Latin America, Middle East and Africa Voice-based Payments Market would witness market growth of 13.7% CAGR during the forecast period (2022-2028).
Virtual assistants like Siri, Alexa, and Google Assistant have already been adopted by the majority of tech-savvy users. As a result, speech payments and voice banking are a natural progression for them. Several FinTech industry giants are already assisting banks and financial institutions in gaining a virtual presence. At the same time, disruptors in the sector are working on their own voice payment systems.
The financial industry is embracing voice banking, and FinTechs are competing to provide more advanced, resilient, and secure solutions. Voice banking presents a barrier in terms of keeping information secret while going through authentication procedures. However, combining biometric identifiers like fingerprints, irises, and voice could be a viable approach.
FinTech is the delivery of financial products and services to stakeholders by combining innovation and technology. In the United Arab Emirates, FinTech has radically revolutionized the banking business. As a result, client interest in FinTech services has grown in the UAE, with both positive and bad outcomes. The relationship between FinTech and the banking industry has a favorable impact on the banking industry's efficiency and effectiveness. The reduction in transaction costs is due to the collaboration of various stakeholders across the sector, which benefits customers. Emirates NBD is an example of a company that uses a humanoid robot named Pepper to communicate with consumers in both English and Arabic in order to better understand market demands and provide relevant advice, hence enhancing customer happiness. Customer satisfaction and retention are improved when high-quality services are delivered using technology in the banking industry. It assists banks in keeping their competitiveness. As a result, FinTech adoption enhanced the banking industry's performance. The growth of FinTech services has laid the groundwork for the acceptance of voice-based payment systems in the region.
The Brazil market dominated the LAMEA Voice-based Payments Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $219.1 Million by 2028. The Argentina market is estimated to grow at a CAGR of 14.3% during (2022 - 2028). Additionally, The UAE market would witness a CAGR of 13.4% during (2022 - 2028).
Based on Component, the market is segmented into Software and Hardware. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End-use, the market is segmented into BFSI, Retail, Automotive, Government & Defense, Healthcare & Life Sciences, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Voice-based Payments Market is Predict to reach $12.2 Billion by 2028, at a CAGR of 11.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google LLC, Amazon.com, Inc., Alibaba Group Holding Limited, Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Cerence, Inc., PCI Pal PLC, Paysafe Limited, NCR Corporation, PayPal Holdings, Inc., and Vibe Group (Vibe Pay Limited)
Scope of the Study
Market Segments Covered in the Report:
By Component
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
By End-use
- BFSI
- Retail
- Automotive
- Government & Defense
- Healthcare & Life Sciences
- Others
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Google LLC
- Amazon.com, Inc.
- Alibaba Group Holding Limited
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
- Cerence, Inc.
- PCI Pal PLC
- Paysafe Limited
- NCR Corporation
- PayPal Holdings, Inc.
- Vibe Group (Vibe Pay Limited)
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 LAMEA Voice-based Payments Market, by Component
1.4.2 LAMEA Voice-based Payments Market, by Organization Size
1.4.3 LAMEA Voice-based Payments Market, by End-use
1.4.4 LAMEA Voice-based Payments Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Market Share Analysis, 2021
3.2 Strategies Deployed in Voice-based Payments Market
Chapter 4. LAMEA Voice-based Payments Market by Component
4.1 LAMEA Software Market by Country
4.2 LAMEA Hardware Market by Country
Chapter 5. LAMEA Voice-based Payments Market by Organization Size
5.1 LAMEA Large Enterprises Market by Country
5.2 LAMEA Small & Medium Enterprises Market by Country
Chapter 6. LAMEA Voice-based Payments Market by End-use
6.1 LAMEA BFSI Market by Country
6.2 LAMEA Retail Market by Country
6.3 LAMEA Automotive Market by Country
6.4 LAMEA Government & Defense Market by Country
6.5 LAMEA Healthcare & Life Sciences Market by Country
6.6 LAMEA Others Market by Country
Chapter 7. LAMEA Voice-based Payments Market by Country
7.1 Brazil Voice-based Payments Market
7.1.1 Brazil Voice-based Payments Market by Component
7.1.2 Brazil Voice-based Payments Market by Organization Size
7.1.3 Brazil Voice-based Payments Market by End-use
7.2 Argentina Voice-based Payments Market
7.2.1 Argentina Voice-based Payments Market by Component
7.2.2 Argentina Voice-based Payments Market by Organization Size
7.2.3 Argentina Voice-based Payments Market by End-use
7.3 UAE Voice-based Payments Market
7.3.1 UAE Voice-based Payments Market by Component
7.3.2 UAE Voice-based Payments Market by Organization Size
7.3.3 UAE Voice-based Payments Market by End-use
7.4 Saudi Arabia Voice-based Payments Market
7.4.1 Saudi Arabia Voice-based Payments Market by Component
7.4.2 Saudi Arabia Voice-based Payments Market by Organization Size
7.4.3 Saudi Arabia Voice-based Payments Market by End-use
7.5 South Africa Voice-based Payments Market
7.5.1 South Africa Voice-based Payments Market by Component
7.5.2 South Africa Voice-based Payments Market by Organization Size
7.5.3 South Africa Voice-based Payments Market by End-use
7.6 Nigeria Voice-based Payments Market
7.6.1 Nigeria Voice-based Payments Market by Component
7.6.2 Nigeria Voice-based Payments Market by Organization Size
7.6.3 Nigeria Voice-based Payments Market by End-use
7.7 Rest of LAMEA Voice-based Payments Market
7.7.1 Rest of LAMEA Voice-based Payments Market by Component
7.7.2 Rest of LAMEA Voice-based Payments Market by Organization Size
7.7.3 Rest of LAMEA Voice-based Payments Market by End-use
Chapter 8. Company Profiles
8.1 Google LLC
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 Recent Strategies and Developments
8.1.5.1 Product Launches and Product Expansions:
8.1.6 SWOT Analysis
8.2 Amazon.com, Inc.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental Analysis
8.2.4 Recent strategies and developments:
8.2.4.1 Product Launches and Product Expansions:
8.2.5 SWOT Analysis
8.3 Alibaba Group Holding Limited
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Recent Strategies and Developments
8.3.4.1 Partnerships, Collaborations, and Agreements:
8.4 Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expense
8.5 Cerence, Inc.
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Regional Analysis
8.5.4 Research & Development Expenses
8.5.5 Recent strategies and developments:
8.5.5.1 Partnerships, Collaborations, and Agreements:
8.5.5.2 Product Launches and Product Expansions:
8.6 PCI Pal PLC
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Regional Analysis
8.7 Paysafe Limited
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research & Development Expenses
8.8 NCR Corporation
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Research & Development Expenses
8.9 PayPal Holdings, Inc.
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Regional Analysis
8.9.4 Research & Development Expense
8.9.5 Recent strategies and developments:
8.9.5.1 Partnerships, Collaborations, and Agreements:
8.9.5.2 Acquisitions and Mergers
8.10. Vibe Group (Vibe Pay Limited)
8.10.1 Company Overview
8.10.2 Recent strategies and developments:
8.10.2.1 Product Launches and Product Expansions:
TABLE 1 LAMEA Voice-based Payments Market, 2018 - 2021, USD Million
TABLE 2 LAMEA Voice-based Payments Market, 2022 - 2028, USD Million
TABLE 3 LAMEA Voice-based Payments Market by Component, 2018 - 2021, USD Million
TABLE 4 LAMEA Voice-based Payments Market by Component, 2022 - 2028, USD Million
TABLE 5 LAMEA Software Market by Country, 2018 - 2021, USD Million
TABLE 6 LAMEA Software Market by Country, 2022 - 2028, USD Million
TABLE 7 LAMEA Hardware Market by Country, 2018 - 2021, USD Million
TABLE 8 LAMEA Hardware Market by Country, 2022 - 2028, USD Million
TABLE 9 LAMEA Voice-based Payments Market by Organization Size, 2018 - 2021, USD Million
TABLE 10 LAMEA Voice-based Payments Market by Organization Size, 2022 - 2028, USD Million
TABLE 11 LAMEA Large Enterprises Market by Country, 2018 - 2021, USD Million
TABLE 12 LAMEA Large Enterprises Market by Country, 2022 - 2028, USD Million
TABLE 13 LAMEA Small & Medium Enterprises Market by Country, 2018 - 2021, USD Million
TABLE 14 LAMEA Small & Medium Enterprises Market by Country, 2022 - 2028, USD Million
TABLE 15 LAMEA Voice-based Payments Market by End-use, 2018 - 2021, USD Million
TABLE 16 LAMEA Voice-based Payments Market by End-use, 2022 - 2028, USD Million
TABLE 17 LAMEA BFSI Market by Country, 2018 - 2021, USD Million
TABLE 18 LAMEA BFSI Market by Country, 2022 - 2028, USD Million
TABLE 19 LAMEA Retail Market by Country, 2018 - 2021, USD Million
TABLE 20 LAMEA Retail Market by Country, 2022 - 2028, USD Million
TABLE 21 LAMEA Automotive Market by Country, 2018 - 2021, USD Million
TABLE 22 LAMEA Automotive Market by Country, 2022 - 2028, USD Million
TABLE 23 LAMEA Government & Defense Market by Country, 2018 - 2021, USD Million
TABLE 24 LAMEA Government & Defense Market by Country, 2022 - 2028, USD Million
TABLE 25 LAMEA Healthcare & Life Sciences Market by Country, 2018 - 2021, USD Million
TABLE 26 LAMEA Healthcare & Life Sciences Market by Country, 2022 - 2028, USD Million
TABLE 27 LAMEA Others Market by Country, 2018 - 2021, USD Million
TABLE 28 LAMEA Others Market by Country, 2022 - 2028, USD Million
TABLE 29 LAMEA Voice-based Payments Market by Country, 2018 - 2021, USD Million
TABLE 30 LAMEA Voice-based Payments Market by Country, 2022 - 2028, USD Million
TABLE 31 Brazil Voice-based Payments Market, 2018 - 2021, USD Million
TABLE 32 Brazil Voice-based Payments Market, 2022 - 2028, USD Million
TABLE 33 Brazil Voice-based Payments Market by Component, 2018 - 2021, USD Million
TABLE 34 Brazil Voice-based Payments Market by Component, 2022 - 2028, USD Million
TABLE 35 Brazil Voice-based Payments Market by Organization Size, 2018 - 2021, USD Million
TABLE 36 Brazil Voice-based Payments Market by Organization Size, 2022 - 2028, USD Million
TABLE 37 Brazil Voice-based Payments Market by End-use, 2018 - 2021, USD Million
TABLE 38 Brazil Voice-based Payments Market by End-use, 2022 - 2028, USD Million
TABLE 39 Argentina Voice-based Payments Market, 2018 - 2021, USD Million
TABLE 40 Argentina Voice-based Payments Market, 2022 - 2028, USD Million
TABLE 41 Argentina Voice-based Payments Market by Component, 2018 - 2021, USD Million
TABLE 42 Argentina Voice-based Payments Market by Component, 2022 - 2028, USD Million
TABLE 43 Argentina Voice-based Payments Market by Organization Size, 2018 - 2021, USD Million
TABLE 44 Argentina Voice-based Payments Market by Organization Size, 2022 - 2028, USD Million
TABLE 45 Argentina Voice-based Payments Market by End-use, 2018 - 2021, USD Million
TABLE 46 Argentina Voice-based Payments Market by End-use, 2022 - 2028, USD Million
TABLE 47 UAE Voice-based Payments Market, 2018 - 2021, USD Million
TABLE 48 UAE Voice-based Payments Market, 2022 - 2028, USD Million
TABLE 49 UAE Voice-based Payments Market by Component, 2018 - 2021, USD Million
TABLE 50 UAE Voice-based Payments Market by Component, 2022 - 2028, USD Million
TABLE 51 UAE Voice-based Payments Market by Organization Size, 2018 - 2021, USD Million
TABLE 52 UAE Voice-based Payments Market by Organization Size, 2022 - 2028, USD Million
TABLE 53 UAE Voice-based Payments Market by End-use, 2018 - 2021, USD Million
TABLE 54 UAE Voice-based Payments Market by End-use, 2022 - 2028, USD Million
TABLE 55 Saudi Arabia Voice-based Payments Market, 2018 - 2021, USD Million
TABLE 56 Saudi Arabia Voice-based Payments Market, 2022 - 2028, USD Million
TABLE 57 Saudi Arabia Voice-based Payments Market by Component, 2018 - 2021, USD Million
TABLE 58 Saudi Arabia Voice-based Payments Market by Component, 2022 - 2028, USD Million
TABLE 59 Saudi Arabia Voice-based Payments Market by Organization Size, 2018 - 2021, USD Million
TABLE 60 Saudi Arabia Voice-based Payments Market by Organization Size, 2022 - 2028, USD Million
TABLE 61 Saudi Arabia Voice-based Payments Market by End-use, 2018 - 2021, USD Million
TABLE 62 Saudi Arabia Voice-based Payments Market by End-use, 2022 - 2028, USD Million
TABLE 63 South Africa Voice-based Payments Market, 2018 - 2021, USD Million
TABLE 64 South Africa Voice-based Payments Market, 2022 - 2028, USD Million
TABLE 65 South Africa Voice-based Payments Market by Component, 2018 - 2021, USD Million
TABLE 66 South Africa Voice-based Payments Market by Component, 2022 - 2028, USD Million
TABLE 67 South Africa Voice-based Payments Market by Organization Size, 2018 - 2021, USD Million
TABLE 68 South Africa Voice-based Payments Market by Organization Size, 2022 - 2028, USD Million
TABLE 69 South Africa Voice-based Payments Market by End-use, 2018 - 2021, USD Million
TABLE 70 South Africa Voice-based Payments Market by End-use, 2022 - 2028, USD Million
TABLE 71 Nigeria Voice-based Payments Market, 2018 - 2021, USD Million
TABLE 72 Nigeria Voice-based Payments Market, 2022 - 2028, USD Million
TABLE 73 Nigeria Voice-based Payments Market by Component, 2018 - 2021, USD Million
TABLE 74 Nigeria Voice-based Payments Market by Component, 2022 - 2028, USD Million
TABLE 75 Nigeria Voice-based Payments Market by Organization Size, 2018 - 2021, USD Million
TABLE 76 Nigeria Voice-based Payments Market by Organization Size, 2022 - 2028, USD Million
TABLE 77 Nigeria Voice-based Payments Market by End-use, 2018 - 2021, USD Million
TABLE 78 Nigeria Voice-based Payments Market by End-use, 2022 - 2028, USD Million
TABLE 79 Rest of LAMEA Voice-based Payments Market, 2018 - 2021, USD Million
TABLE 80 Rest of LAMEA Voice-based Payments Market, 2022 - 2028, USD Million
TABLE 81 Rest of LAMEA Voice-based Payments Market by Component, 2018 - 2021, USD Million
TABLE 82 Rest of LAMEA Voice-based Payments Market by Component, 2022 - 2028, USD Million
TABLE 83 Rest of LAMEA Voice-based Payments Market by Organization Size, 2018 - 2021, USD Million
TABLE 84 Rest of LAMEA Voice-based Payments Market by Organization Size, 2022 - 2028, USD Million
TABLE 85 Rest of LAMEA Voice-based Payments Market by End-use, 2018 - 2021, USD Million
TABLE 86 Rest of LAMEA Voice-based Payments Market by End-use, 2022 - 2028, USD Million
TABLE 87 Key Information – Google LLC
TABLE 88 Key Information – Amazon.com, Inc.
TABLE 89 Key Information – Alibaba Group Holding Limited
TABLE 90 key information – Huawei Technologies Co., Ltd.
TABLE 91 Key Information – Cerence Inc.
TABLE 92 Key Information – PCI Pal PLC
TABLE 93 Key Information – PAYSAFE LIMITED
TABLE 94 Key Information – NCR Corporation
TABLE 95 Key Information – PayPal Holdings, Inc.
TABLE 96 Key Information – Vibe Pay Limited
List of Figures
FIG 1 Methodology for the research
FIG 2 Market Share Analysis, 2021
FIG 3 SWOT Analysis: Alphabet Inc. (Google Inc.)
FIG 4 SWOT analysis: Amazon.com, Inc.