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The demand for voice banking service is increasing due to the rapid growth in digital banking service. The growth of digital banking is anticipated to benefit significantly from the increased incorporation of innovative technologies in voice banking service in the next years. The voice banking market is segmented on the basis of component, deployment mode, and application. According to the report published by Allied Market Research, the global voice banking market garnered $984.6 million in 2021, and is estimated to generate $3.7 billion by 2031, manifesting a CAGR of 14.5% from 2022 to 2031. The outbreak of the COVID-19 pandemic had a positive impact on the voice banking market.