Abstract
Summary
Voice banking is a term used for performing banking transactions or professional banking consultations via a remote voice connection. Voice banking is a type of communication between a bank employee and a customer using voice call. In addition, customers may communicate with their bank through voice banking while at home by utilizing a laptop, tablet, or smartphone. It connects a client with a banker or financial counselor via live voice call.
There is an increase in the demand for voice banking service due to personalized services to customers. Personalization in banking is about delivering a valuable service or product to a customer based on personal experiences and historical customer data. In addition, growth in digital banking services and reduction in bank visit by customers are driving the growth of the market. However, regulatory complications of voice banking and security and privacy concerns have emerged as key industry problems. On the contrary, growing usage of Artificial Intelligence in voice banking is projected to remain opportunistic for the voice banking market growth.
The voice banking market is segmented on the basis of component, deployment mode, and application. By component, it is categorized into solution and services. By deployment mode, it is bifurcated into on-premise and cloud. By technology, it is classified into machine learning, deep learning, natural language processing and others. By application, it is divided into banks, NBFCs, credit union, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the Voice banking market such as Acapela Group, Axis Bank, BankBuddy, Central 1 Credit Union, DBS Bank, Emirates NBD Bank, HSBC, IndusInd Bank, NatWest Group and U.S. Bank. These players have adopted various strategies to increase their market penetration and strengthen their position in the voice banking market share.
Key benefits for stakeholders
●The study provides in-depth analysis of the global voice banking market along with the current & future trends to illustrate the imminent investment pockets.
●Information about key drivers, restrains, & opportunities and their impact analysis on the global voice banking market size are provided in the report.
●Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
●The quantitative analysis of the global voice banking market from 2022 to 2031 is provided to determine the market potential.
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● Investment Opportunities
● Market share analysis of players by products/segments
● Regulatory Guidelines
● Additional company profiles with specific to client's interest
● Additional country or region analysis- market size and forecast
● Expanded list for Company Profiles
● Key player details (including location, contact details, supplier/vendor network etc. in excel format)
● Market share analysis of players at global/region/country level
● SWOT Analysis
Key Market Segments
By Application
● Banks
● NBFCs
● Credit Unions
● Others
By Component
● Solution
● Services
By Deployment Mode
● On-Premise
● Cloud
By Technology
● Machine Learning
● Deep Learning
● Natural Language Processing
● Others
By Region
● North America
○ U.S.
○ Canada
● Europe
○ UK
○ Germany
○ France
○ Italy
○ Spain
○ Rest of Europe
● Asia-Pacific
○ China
○ Japan
○ India
○ Australia
○ South Korea
○ Rest of Asia-Pacific
● LAMEA
○ Latin America
○ Middle East
○ Africa
● Key Market Players
○ U.S. Bank
○ Axis Bank
○ HSBC
○ Emirates NBD Bank
○ IndusInd Bank
○ NatWest Group
○ BankBuddy
○ Central 1 Credit Union
○ DBS Bank
○ Acapela Group
Table of Contents
1 INTRODUCTION
1.1 Report description
1.2 Key market segments
1.3 Key benefits to the stakeholders
1.4 Research methodology
1.4.1 Primary research
1.4.2 Secondary research
1.4.3 Analyst tools and models
2 EXECUTIVE SUMMARY
2.1 CXO Perspective
3 MARKET OVERVIEW
3.1 Market definition and scope
3.2 Key findings
3.2.1 Top impacting factors
3.2.2 Top investment pockets
3.3 Porter’s five forces analysis
3.3.1 Low bargaining power of suppliers
3.3.2 Low threat of new entrants
3.3.3 Low threat of substitutes
3.3.4 Low intensity of rivalry
3.3.5 Low bargaining power of buyers
3.4 Market dynamics
3.4.1 Drivers
- 3.4.1.1 Personalized services to customers
- 3.4.1.2 Growth in digital banking
- 3.4.1.3 Reduction in branch visit by customers
3.4.2 Restraints
- 3.4.2.1 Privacy concerns of customers
- 3.4.2.2 Regulatory complications of voice banking
3.4.3 Opportunities
- 3.4.3.1 Growing usage of Artificial Intelligence in voice banking
4 VOICE BANKING MARKET, BY COMPONENT
4.1 Overview
4.1.1 Market size and forecast
4.2 Solution
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market share analysis by country
4.3 Services
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market share analysis by country
5 VOICE BANKING MARKET, BY DEPLOYMENT MODE
5.1 Overview
5.1.1 Market size and forecast
5.2 On-Premise
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market share analysis by country
5.3 Cloud
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market share analysis by country
6 VOICE BANKING MARKET, BY TECHNOLOGY
6.1 Overview
6.1.1 Market size and forecast
6.2 Machine Learning
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market share analysis by country
6.3 Deep Learning
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market share analysis by country
6.4 Natural Language Processing
6.4.1 Key market trends, growth factors and opportunities
6.4.2 Market size and forecast, by region
6.4.3 Market share analysis by country
6.5 Others
6.5.1 Key market trends, growth factors and opportunities
6.5.2 Market size and forecast, by region
6.5.3 Market share analysis by country
7 VOICE BANKING MARKET, BY APPLICATION
7.1 Overview
7.1.1 Market size and forecast
7.2 Banks
7.2.1 Key market trends, growth factors and opportunities
7.2.2 Market size and forecast, by region
7.2.3 Market share analysis by country
7.3 NBFCs
7.3.1 Key market trends, growth factors and opportunities
7.3.2 Market size and forecast, by region
7.3.3 Market share analysis by country
7.4 Credit Unions
7.4.1 Key market trends, growth factors and opportunities
7.4.2 Market size and forecast, by region
7.4.3 Market share analysis by country
7.5 Others
7.5.1 Key market trends, growth factors and opportunities
7.5.2 Market size and forecast, by region
7.5.3 Market share analysis by country
8 VOICE BANKING MARKET, BY REGION
8.1 Overview
8.1.1 Market size and forecast By Region
8.2 North America
8.2.1 Key market trends, growth factors and opportunities
8.2.2 Market size and forecast, by Component
8.2.3 Market size and forecast, by Deployment Mode
8.2.4 Market size and forecast, by Technology
8.2.5 Market size and forecast, by Application
8.2.6 Market size and forecast, by country
- 8.2.6.1 U.S
- 8.2.6.1.1 Market size and forecast, by Component
- 8.2.6.1.2 Market size and forecast, by Deployment Mode
- 8.2.6.1.3 Market size and forecast, by Technology
- 8.2.6.1.4 Market size and forecast, by Application
- 8.2.6.2 Canada
- 8.2.6.2.1 Market size and forecast, by Component
- 8.2.6.2.2 Market size and forecast, by Deployment Mode
- 8.2.6.2.3 Market size and forecast, by Technology
- 8.2.6.2.4 Market size and forecast, by Application
- 8.2.6.1 U.S
8.3 Europe
8.3.1 Key market trends, growth factors and opportunities
8.3.2 Market size and forecast, by Component
8.3.3 Market size and forecast, by Deployment Mode
8.3.4 Market size and forecast, by Technology
8.3.5 Market size and forecast, by Application
8.3.6 Market size and forecast, by country
- 8.3.6.1 UK
- 8.3.6.1.1 Market size and forecast, by Component
- 8.3.6.1.2 Market size and forecast, by Deployment Mode
- 8.3.6.1.3 Market size and forecast, by Technology
- 8.3.6.1.4 Market size and forecast, by Application
- 8.3.6.2 Germany
- 8.3.6.2.1 Market size and forecast, by Component
- 8.3.6.2.2 Market size and forecast, by Deployment Mode
- 8.3.6.2.3 Market size and forecast, by Technology
- 8.3.6.2.4 Market size and forecast, by Application
- 8.3.6.3 France
- 8.3.6.3.1 Market size and forecast, by Component
- 8.3.6.3.2 Market size and forecast, by Deployment Mode
- 8.3.6.3.3 Market size and forecast, by Technology
- 8.3.6.3.4 Market size and forecast, by Application
- 8.3.6.4 Italy
- 8.3.6.4.1 Market size and forecast, by Component
- 8.3.6.4.2 Market size and forecast, by Deployment Mode
- 8.3.6.4.3 Market size and forecast, by Technology
- 8.3.6.4.4 Market size and forecast, by Application
- 8.3.6.5 Spain
- 8.3.6.5.1 Market size and forecast, by Component
- 8.3.6.5.2 Market size and forecast, by Deployment Mode
- 8.3.6.5.3 Market size and forecast, by Technology
- 8.3.6.5.4 Market size and forecast, by Application
- 8.3.6.6 Rest of Europe
- 8.3.6.6.1 Market size and forecast, by Component
- 8.3.6.6.2 Market size and forecast, by Deployment Mode
- 8.3.6.6.3 Market size and forecast, by Technology
- 8.3.6.6.4 Market size and forecast, by Application
- 8.3.6.1 UK
8.4 Asia-Pacific
8.4.1 Key market trends, growth factors and opportunities
8.4.2 Market size and forecast, by Component
8.4.3 Market size and forecast, by Deployment Mode
8.4.4 Market size and forecast, by Technology
8.4.5 Market size and forecast, by Application
8.4.6 Market size and forecast, by country
- 8.4.6.1 China
- 8.4.6.1.1 Market size and forecast, by Component
- 8.4.6.1.2 Market size and forecast, by Deployment Mode
- 8.4.6.1.3 Market size and forecast, by Technology
- 8.4.6.1.4 Market size and forecast, by Application
- 8.4.6.2 Japan
- 8.4.6.2.1 Market size and forecast, by Component
- 8.4.6.2.2 Market size and forecast, by Deployment Mode
- 8.4.6.2.3 Market size and forecast, by Technology
- 8.4.6.2.4 Market size and forecast, by Application
- 8.4.6.3 India
- 8.4.6.3.1 Market size and forecast, by Component
- 8.4.6.3.2 Market size and forecast, by Deployment Mode
- 8.4.6.3.3 Market size and forecast, by Technology
- 8.4.6.3.4 Market size and forecast, by Application
- 8.4.6.4 Australia
- 8.4.6.4.1 Market size and forecast, by Component
- 8.4.6.4.2 Market size and forecast, by Deployment Mode
- 8.4.6.4.3 Market size and forecast, by Technology
- 8.4.6.4.4 Market size and forecast, by Application
- 8.4.6.5 South Korea
- 8.4.6.5.1 Market size and forecast, by Component
- 8.4.6.5.2 Market size and forecast, by Deployment Mode
- 8.4.6.5.3 Market size and forecast, by Technology
- 8.4.6.5.4 Market size and forecast, by Application
- 8.4.6.6 Rest of Asia-Pacific
- 8.4.6.6.1 Market size and forecast, by Component
- 8.4.6.6.2 Market size and forecast, by Deployment Mode
- 8.4.6.6.3 Market size and forecast, by Technology
- 8.4.6.6.4 Market size and forecast, by Application
- 8.4.6.1 China
8.5 LAMEA
8.5.1 Key market trends, growth factors and opportunities
8.5.2 Market size and forecast, by Component
8.5.3 Market size and forecast, by Deployment Mode
8.5.4 Market size and forecast, by Technology
8.5.5 Market size and forecast, by Application
8.5.6 Market size and forecast, by country
- 8.5.6.1 Latin America
- 8.5.6.1.1 Market size and forecast, by Component
- 8.5.6.1.2 Market size and forecast, by Deployment Mode
- 8.5.6.1.3 Market size and forecast, by Technology
- 8.5.6.1.4 Market size and forecast, by Application
- 8.5.6.2 Middle East
- 8.5.6.2.1 Market size and forecast, by Component
- 8.5.6.2.2 Market size and forecast, by Deployment Mode
- 8.5.6.2.3 Market size and forecast, by Technology
- 8.5.6.2.4 Market size and forecast, by Application
- 8.5.6.3 Africa
- 8.5.6.3.1 Market size and forecast, by Component
- 8.5.6.3.2 Market size and forecast, by Deployment Mode
- 8.5.6.3.3 Market size and forecast, by Technology
- 8.5.6.3.4 Market size and forecast, by Application
- 8.5.6.1 Latin America
9 COMPETITIVE LANDSCAPE
9.1 Introduction
9.2 Top winning strategies
9.3 Product mapping of top 10 player
9.4 Competitive dashboard
9.5 Competitive heatmap
9.6 Top player positioning, 2021
10 COMPANY PROFILES
10.1 Acapela Group
10.1.1 Company overview
10.1.2 Key executives
10.1.3 Company snapshot
10.1.4 Operating business segments
10.1.5 Product portfolio
10.2 Axis Bank
10.2.1 Company overview
10.2.2 Key executives
10.2.3 Company snapshot
10.2.4 Operating business segments
10.2.5 Product portfolio
10.2.6 Key strategic moves and developments
10.3 BankBuddy
10.3.1 Company overview
10.3.2 Key executives
10.3.3 Company snapshot
10.3.4 Operating business segments
10.3.5 Product portfolio
10.4 Central 1 Credit Union
10.4.1 Company overview
10.4.2 Key executives
10.4.3 Company snapshot
10.4.4 Operating business segments
10.4.5 Product portfolio
10.4.6 Business performance
10.5 DBS Bank
10.5.1 Company overview
10.5.2 Key executives
10.5.3 Company snapshot
10.5.4 Operating business segments
10.5.5 Product portfolio
10.5.6 Business performance
10.6 Emirates NBD Bank
10.6.1 Company overview
10.6.2 Key executives
10.6.3 Company snapshot
10.6.4 Operating business segments
10.6.5 Product portfolio
10.6.6 Key strategic moves and developments
10.7 HSBC
10.7.1 Company overview
10.7.2 Key executives
10.7.3 Company snapshot
10.7.4 Operating business segments
10.7.5 Product portfolio
10.7.6 Business performance
10.7.7 Key strategic moves and developments
10.8 IndusInd Bank
10.8.1 Company overview
10.8.2 Key executives
10.8.3 Company snapshot
10.8.4 Operating business segments
10.8.5 Product portfolio
10.8.6 Business performance
10.9 NatWest Group
10.9.1 Company overview
10.9.2 Key executives
10.9.3 Company snapshot
10.9.4 Operating business segments
10.9.5 Product portfolio
10.9.6 Business performance
10.9.7 Key strategic moves and developments
10.10 U.S. Bank
10.10.1 Company overview
10.10.2 Key executives
10.10.3 Company snapshot
10.10.4 Operating business segments
10.10.5 Product portfolio
10.10.6 Business performance
10.10.7 Key strategic moves and developments