Mobile Banking Market, Revenue Expectation, Growth Segmentation, Industry Overview, Development History, Leading Players, Emerging Opportunities with Current Trends Analysis 2027
Market Analysis
Market
Research Future (MRFR) projects the global Mobile
Banking Market to grow at a
significant pace from 2020 to 2027 (forecast period)
High Adoption of Mobile Banking Apps
In
order to promote and increase customer satisfaction and expectations, the
global mobile banking market is implementing a number of new initiatives and
challenges. New clients are installing the most recent banking applications in
order to make the best use of the technology that has been offered to benefit
consumers. This is one of the primary factors that will directly accelerate the
mobile banking industry during the anticipated assessment period. Aside from
that, advanced smartphone applications are dynamic, the fundamental banking
method that may also be the driving force behind market expansion. Due to the
increased number of smartphone users worldwide, mobile banking's new
subscribers are expected to increase significantly. Mobile banking also
encourages and enables the recording, mapping, and close examination of the
customer's financial situation. As a result, it has had a favorable impact on
the growth of the mobile banking market.
COVID-19 Pandemic to Positively Impact the Market
According
to the global mobile banking market analysis, customers make up a sizable
portion of the whole market. There are numerous potential aspects in the mobile
banking industry analysis that are reliant on a variety of factors. The
COVID-19 pandemic has had a significant impact on the mobile banking market
share and way of life around the world. People are conducting a growing number
of transactions online in order to avoid visiting a bank branch. Many
organizations have to fight a never-ending battle for survival and client
relationships.
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Major Key Players:
Notable players in the
global mobile banking market include Dais Software Company (Bulgaria), Strands
Inc. (U.S.), Ebanq B.V (Netherlands), Nymbus Inc. (U.S.), Apex Software Ltd.
(Kenya), Temenos Group AG (Switzerland), Neptune Software PLC (U.K.), Fisa
System (U.S.), Capital Banking Solutions (U.S.).
Segmental Analysis:
The global market for
mobile banking has been segmented based on solution, technology, and
deployment.
On basis of the solution,
the global market for mobile banking has been segmented into customer
management, mobile banking features, mobile payment features, mobile trading
features, and others. Mobile banking features include balance inquiry, recent
transaction information, transfer of funds, transfer of money via the email
address or mobile number, and alert services. By giving a missed call from the
registered mobile number to the bank's official number, the customer is given
details of the account's balance. These services meet the customer's needs and
satisfaction, which has contributed to a rise in demand for mobile banking on
the market.
On basis of technology,
the global market for mobile banking has been segmented into wireless
application protocol (WAP) and standalone mobile application
On basis of deployment,
the global market for mobile banking has been segmented into On-cloud and
On-premise.
Regional Analysis:
North America to Dominate the Global Market
North America is expected to capture the biggest
market share due to the rapid adoption of mobile banking via the latest
smartphones, where consumers are more likely to connect with banks via mobile
channels rather than personally visiting the banks.
Europe to Witness Fastest Growth Rate
European countries are predicted to be the quickest
and fastest-growing market due to enormously faster transactions and basic
mobile payments performed by premium banks, which has resulted in an increase
in the adoption of basic mobile banking used by many Europeans to make
transactions.
Industry Update:
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Table of Contents
1 Market Introduction
1.1 Introduction
1.2
Scope of Study
1.2.1
Research objective
1.2.2
Assumptions
1.2.3
Limitations
1.3
Market Structure
2 Research Methodology
2.1
Research Type
2.2
Primary Research
2.3
Secondary Research
2.4
Forecast Model
2.4.1
Market Data Collection, Analysis & Forecast
2.4.2
Market Size Estimation
Continued….
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