Mobile Banking Market Growth – Sales, Demand, and Global Research Report 2023
Mobile Banking Market Growth, By Solution (Customer Management, Mobile Banking Market Features, Mobile Payment Features), By Technology (Wireless Application Protocol, Standalone Mobile Application), By Deployment (On-Cloud, On-Premise), – Global Forecast 2023
Market Overview
The Market Research Future (MRFR)’s analysis reveals that the Mobile Banking Market Growth can achieve a moderate growth rate during the forecast period (2019-2023).
With a mounting number of smartphone users as well as mobile banking subscribers, more and more banks are now focusing on customer mobile transactions. Users find it convenient to perform transactions on their smartphones, which offers banks leverage over others and elevates their position in the market. M-banking helps map, record and study customers’ financial transactions as well as their behavior, as per which customized services are provided to them. This helps banks to get customer loyalty by facilitating customer retention.
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It is apparent that place and time convenience as well as user-friendly interfaces to conduct easy banking has led to high demand for mobile banking; however, security is still a cause of concern that can affect mobile banking adoption. As a consequence, service providers are striving to deal with handset operability issues by coming up with efficient applications that suit a variety of available platforms. Emergence of the latest and innovative technologies that also support other applications on the device has helped this purpose.
Mobile banking is surging by leaps and bounds in various regions that are filled with a high density of the under-banked population. These regions are lacking in banking services in spite of technological advances and the boom in the smartphone market. However, mobile banking is gaining momentum in developing countries like India, Bangladesh, China, parts of Latin America, South Korea, Africa, and Brazil, compared to developed countries like the United Kingdom (UK), Germany, Australia, Thailand, and France.
Key Players
The prominent players in the Mobile Banking Market Growth are – Temenos Group AG (Switzerland), Nymbus Inc. (U.S.), Neptune Software PLC (U.K.), Strands Inc. (U.S.), Capital Banking Solutions (U.S.), Dais Software Company (Bulgaria), Ebanq B.V (Netherlands), Apex Software Ltd. (Kenya), Fisa System (U.S.), among others.
Market Segmentation:
- By Solution, the mobile banking market has been segmented into customer management, mobile banking features, mobile payment features, mobile trading features, and others.
- By Technology, the global mobile banking market has been segmented into wireless application protocol, standalone mobile application.
- By Deployment, the mobile banking market has been segmented into on-cloud, on-premise.
Regional Analysis:
The global mobile banking market, by region, has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America’s banking industry signifies advanced tech-driven changes. The presence of an established IT industry in the region is expected to boost the growth trajectory of the mobile banking market in the region. Robust marketing practices are leveraged for the promotion of lucrative schemes. These investments are expected to complement the expansion of the market in the foreseeable future.
Europe is also an important revenue pocket placed at the second spot in the global mobile banking market. It is projected to emerge as the fastest growing regional market owing to the presence of technologically advanced banking industry. The consolidation of developed country-level markets such as Germany, the U.K., France, etc. is anticipated to favor the proliferation of the mobile banking market across the review period.
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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 Deploymentl
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
3 Market Dynamics
3.1 Introduction
3.2 Market Drivers
3.3 Market Challenges
3.4 Market Opportunities
3.5 Market Restraints
Continued…
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