Europe Voice-Based Payments Market Forecast to 2030 - Regional Analysis - by Component (Software and Hardware), Enterprise Size (Large Enterprises and SMEs), and Industry (BFSI, Automotive, Healthcare, Retail, Government, and Others)

BMIRE00030754 | Pages: 93 | Technology, Media and Telecommunications | Sep 2024 | Type: Regional | Status: Published

The Europe voice-based payments market was valued at US$ 1,882.77 million in 2022 and is expected to reach US$ 4,323.62 million by 2030; it is estimated to register a CAGR of 11.0% from 2022 to 2030.

Advancements in Natural Language Processing (NLP) Technology Drive Europe Voice-Based Payments Market

Advancements in natural language processing (NLP) technology have become a transformative force within the business landscape, significantly impacting voice-based payments market. NLP focuses on enabling machines to understand, interpret, and respond to human language in a way that simulates natural communication. This technological progress holds substantial implications for businesses seeking to enhance customer interactions, automate processes, and extract valuable insights from unstructured data. In customer service and engagement, businesses are using sophisticated NLP algorithms to develop chatbots and virtual assistants. These intelligent systems can understand customer queries and respond to them, providing real-time support and improving overall user experiences. This boosts operational efficiency and allows businesses to deliver personalized and responsive services, thereby strengthening customer relationships.

NLP advancements play a pivotal role in data analysis and decision-making processes. Businesses can harness NLP algorithms to extract meaningful information from vast amounts of unstructured textual data, such as customer feedback, social media posts, and market trends. This facilitates more informed decision-making, helping organizations stay agile and responsive to evolving market dynamics. In the financial sector, NLP is instrumental in automating tasks such as sentiment analysis of financial news, aiding investment decisions, and detecting patterns in market behavior. The ability to process and understand natural language enables more accurate risk assessments and improved compliance measures. Overall, the advancements in NLP technology empower businesses to enhance communication, streamline operations, and extract valuable insights, contributing to increased efficiency, innovation, and competitive advantage in today's dynamic business environment.

Europe Voice-Based Payments Market Overview

The Europe voice-based payment market is further segmented into Germany, the UK, Italy, Russia, France, and the Rest of Europe. The demand for online banking in Europe is growing significantly. According to the Global Commerce Media LLC Company, Gitnux, 89% of UK adults use online banking, and 64% use mobile banking apps. In 2022, the number of mobile users of digital banking reached 90.4% in Europe. This data shows that the digital banking trend is growing in Europe, and more people are shifting to online banking as a secure and convenient way to manage their finances.

Various companies are launching new voice-based payments in Europe. For instance, in September 2021, VibePay, a social payment initiation service, became the first organization to provide account-to-account voice-activated payments in Europe. VibePay's users on iOS can pay or request payment from others with their voice directly and instantly from one bank account to another with no fees.

In December 2020, Ingenico, CopSonic, and Validsoft developed two strong voice authentication technologies that enable secure digital purchases at home and in vehicles and other environments. One of them was deployed to buy fuel in the city of Argentan in France. Therefore, with the growing use of digital and voice-based payments, the voice-based payment market is growing in the region.

Europe Voice-Based Payments Market Revenue and Forecast to 2030 (US$ Million)

Europe Voice-Based Payments Market Revenue and Forecast to 2030 (US$ Million)

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Europe Voice-Based Payments Market Segmentation

The Europe voice-based payments market is categorized into component, enterprise size, industry, and country.

Based on component, the Europe voice-based payments market is segmented into software and hardware. The software segment held a larger market share in 2022.

In terms of enterprise size, the Europe voice-based payments market is segmented into large enterprises and SMEs. The large enterprises segment held a larger market share in 2022.

Based on industry, the Europe voice-based payments market is segmented into BFSI, automotive, healthcare, retail, government, and others. The BFSI segment held the largest market share in 2022.

By country, the Europe voice-based payments market is segmented into Germany, France, the UK, Italy, Russia and the Rest of Europe. Germany dominated the Europe voice-based payments market share in 2022.

Amazon.com Inc, Cerence Inc, Google LLC, Huawei Technologies Co Ltd, NCR VOYIX Corp, PayPal Holdings Inc, Paysafe Limited, PCI Pal, and Vibe Pay Limited are some of the leading companies operating in the Europe voice-based payments market.

TABLE OF CONTENTS

 

1. Introduction

1.1 The Insight Partners Research Report Guidance

1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights

2.2 Market Attractiveness

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Europe Voice-Based Payments Market Landscape

4.1 Overview

4.2 Ecosystem Analysis

4.2.1 Solution and Service Providers:

4.2.2 End Users

4.2.3 List of Vendors in Value Chain:

5. Europe Voice-Based Payments Market - Key Market Dynamics

5.1 Market Drivers

5.1.1 Preference for Contactless Payment Solutions

5.1.2 Advancements in Natural Language Processing (NLP) Technology

5.1.3 Widespread Use of Smartphones and Smart Speakers

5.2 Market Restraints

5.2.1 Security Concerns

5.2.2 Limited Accuracy in Voice Recognition Technology

5.3 Market Opportunities

5.3.1 Adoption of Artificial Intelligence (AI)

5.4 Future Trends

5.4.1 Increasing Adoption by Retail Sector

5.5 Impact of Drivers and Restraints:

6. Voice-Based Payments Market - Europe Analysis

6.1 Europe Voice-Based Payments Market Revenue (US$ Million), 2020-2030

6.2 Europe Voice-Based Payments Market Forecast Analysis

7. Europe Voice-Based Payments Market Analysis - by Component

7.1 Software

7.1.1 Overview

7.1.2 Software: Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

7.2 Hardware

7.2.1 Overview

7.2.2 Hardware: Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

8. Europe Voice-Based Payments Market Analysis - by Enterprise Size

8.1 Large Enterprises

8.1.1 Overview

8.1.2 Large Enterprises: Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

8.2 SMEs

8.2.1 Overview

8.2.2 SMEs: Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

9. Europe Voice-Based Payments Market Analysis - by Industry

9.1 BFSI

9.1.1 Overview

9.1.2 BFSI: Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

9.2 Automotive

9.2.1 Overview

9.2.2 Automotive: Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

9.3 Healthcare

9.3.1 Overview

9.3.2 Healthcare: Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

9.4 Retail

9.4.1 Overview

9.4.2 Retail: Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

9.5 Government

9.5.1 Overview

9.5.2 Government: Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

9.6 Others

9.6.1 Overview

9.6.2 Others: Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

10. Europe Voice-Based Payments Market - Country Analysis

10.1 Europe Voice-Based Payments Market

10.1.1 Europe Voice-Based Payments Market - Revenue and Forecast Analysis - by Country

10.1.1.1 Europe: Voice-Based Payments Market - Revenue and Forecast Analysis - by Country

10.1.1.2 Germany: Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

10.1.1.2.1 Germany: Voice-Based Payments Market Breakdown, by Component

10.1.1.2.2 Germany: Voice-Based Payments Market Breakdown, by Enterprise Size

10.1.1.2.3 Germany: Voice-Based Payments Market Breakdown, by Industry

10.1.1.3 France: Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

10.1.1.3.1 France: Voice-Based Payments Market Breakdown, by Component

10.1.1.3.2 France: Voice-Based Payments Market Breakdown, by Enterprise Size

10.1.1.3.3 France: Voice-Based Payments Market Breakdown, by Industry

10.1.1.4 United Kingdom: Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

10.1.1.4.1 United Kingdom: Voice-Based Payments Market Breakdown, by Component

10.1.1.4.2 United Kingdom: Voice-Based Payments Market Breakdown, by Enterprise Size

10.1.1.4.3 United Kingdom: Voice-Based Payments Market Breakdown, by Industry

10.1.1.5 Italy: Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

10.1.1.5.1 Italy: Voice-Based Payments Market Breakdown, by Component

10.1.1.5.2 Italy: Voice-Based Payments Market Breakdown, by Enterprise Size

10.1.1.5.3 Italy: Voice-Based Payments Market Breakdown, by Industry

10.1.1.6 Russia: Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

10.1.1.6.1 Russia: Voice-Based Payments Market Breakdown, by Component

10.1.1.6.2 Russia: Voice-Based Payments Market Breakdown, by Enterprise Size

10.1.1.6.3 Russia: Voice-Based Payments Market Breakdown, by Industry

10.1.1.7 Rest of Europe: Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

10.1.1.7.1 Rest of Europe: Voice-Based Payments Market Breakdown, by Component

10.1.1.7.2 Rest of Europe: Voice-Based Payments Market Breakdown, by Enterprise Size

10.1.1.7.3 Rest of Europe: Voice-Based Payments Market Breakdown, by Industry

11. Competitive Landscape

11.1 Heat Map Analysis by Key Players

11.2 Company Positioning & Concentration

12. Industry Landscape

12.1 Overview

12.2 Market Initiative

12.3 New Product Development

13. Company Profiles

13.1 Amazon.com Inc

13.1.1 Key Facts

13.1.2 Business Description

13.1.3 Products and Services

13.1.4 Financial Overview

13.1.5 SWOT Analysis

13.1.6 Key Developments

13.2 NCR VOYIX Corp

13.2.1 Key Facts

13.2.2 Business Description

13.2.3 Products and Services

13.2.4 Financial Overview

13.2.5 SWOT Analysis

13.2.6 Key Developments

13.3 Google LLC

13.3.1 Key Facts

13.3.2 Business Description

13.3.3 Products and Services

13.3.4 Financial Overview

13.3.5 SWOT Analysis

13.3.6 Key Developments

13.4 PayPal Holdings Inc

13.4.1 Key Facts

13.4.2 Business Description

13.4.3 Products and Services

13.4.4 Financial Overview

13.4.5 SWOT Analysis

13.4.6 Key Developments

13.5 Vibe Pay Limited

13.5.1 Key Facts

13.5.2 Business Description

13.5.3 Products and Services

13.5.4 Financial Overview

13.5.5 SWOT Analysis

13.5.6 Key Developments

13.6 Paysafe Limited

13.6.1 Key Facts

13.6.2 Business Description

13.6.3 Products and Services

13.6.4 Financial Overview

13.6.5 SWOT Analysis

13.6.6 Key Developments

13.7 Cerence Inc

13.7.1 Key Facts

13.7.2 Business Description

13.7.3 Products and Services

13.7.4 Financial Overview

13.7.5 SWOT Analysis

13.7.6 Key Developments

13.8 Huawei Technologies Co Ltd

13.8.1 Key Facts

13.8.2 Business Description

13.8.3 Products and Services

13.8.4 Financial Overview

13.8.5 SWOT Analysis

13.8.6 Key Developments

13.9 PCI Pal

13.9.1 Key Facts

13.9.2 Business Description

13.9.3 Products and Services

13.9.4 Financial Overview

13.9.5 SWOT Analysis

13.9.6 Key Developments

14. Appendix

14.1 About The Insight Partners

 

 

 

List of Tables

Table 1. Europe Voice-Based Payments Market Segmentation

Table 2. Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

Table 3. Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million) - by Component

Table 4. Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million) - by Enterprise Size

Table 5. Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million) - by Industry

Table 6. Europe: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million) - by Country

Table 7. Germany: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million) - by Component

Table 8. Germany: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million) - by Enterprise Size

Table 9. Germany: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million) - by Industry

Table 10. France: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million) - by Component

Table 11. France: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million) - by Enterprise Size

Table 12. France: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million) - by Industry

Table 13. United Kingdom: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million) - by Component

Table 14. United Kingdom: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million) - by Enterprise Size

Table 15. United Kingdom: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million) - by Industry

Table 16. Italy: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million) - by Component

Table 17. Italy: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million) - by Enterprise Size

Table 18. Italy: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million) - by Industry

Table 19. Russia: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million) - by Component

Table 20. Russia: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million) - by Enterprise Size

Table 21. Russia: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million) - by Industry

Table 22. Rest of Europe: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million) - by Component

Table 23. Rest of Europe: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million) - by Enterprise Size

Table 24. Rest of Europe: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million) - by Industry

Table 25. Company Positioning & Concentration

Table 26. Appendix

 

List of Figures

Figure 1. Europe Voice-Based Payments Market Segmentation, by Country

Figure 2. Ecosystem: Voice-Based Payments Market

Figure 3. Europe Voice-Based Payments Market - Key Market Dynamics

Figure 4. Impact Analysis of Drivers and Restraints

Figure 5. Europe Voice-Based Payments Market Revenue (US$ Million), 2020-2030

Figure 6. Europe Voice-Based Payments Market Share (%) - by Component (2022 and 2030)

Figure 7. Software: Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

Figure 8. Hardware: Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

Figure 9. Europe Voice-Based Payments Market Share (%) - by Enterprise Size (2022 and 2030)

Figure 10. Large Enterprises: Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

Figure 11. SMEs: Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

Figure 12. Europe Voice-Based Payments Market Share (%) - by Industry (2022 and 2030)

Figure 13. BFSI: Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

Figure 14. Automotive: Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

Figure 15. Healthcare: Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

Figure 16. Retail: Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

Figure 17. Government: Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

Figure 18. Others: Europe Voice-Based Payments Market - Revenue and Forecast to 2030 (US$ Million)

Figure 19. Europe Voice-Based Payments Market, by Key Country - Revenue (2022) (US$ Million)

Figure 20. Europe Voice-Based Payments Market Breakdown, by Key Countries, 2022 and 2030 (%)

Figure 21. Germany: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million)

Figure 22. France: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million)

Figure 23. United Kingdom: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million)

Figure 24. Italy: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million)

Figure 25. Russia: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million)

Figure 26. Rest of Europe: Voice-Based Payments Market - Revenue and Forecast to 2030(US$ Million)

Figure 27. Heat Map Analysis by Key Players

  1. Amazon.com Inc
  2. Cerence Inc
  3. Google LLC
  4. Huawei Technologies Co Ltd
  5. NCR VOYIX Corp
  6. PayPal Holdings Inc
  7. Paysafe Limited
  8. PCI Pal
  9. Vibe Pay Limited
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe voice-based payments market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the Europe voice-based payments market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the Europe voice-based payments market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
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