Industry Background:
Over a few decades the internet has taken over the world, the banking industry has undergone a major shift. To access manipulate the bank account anywhere anytime mobile banking application designed. The use of these allows the customer to perform a financial transaction, and to monitor bank account through mobile. It offers several benefits to consumer such as, time-saving, reduction in operation costs, transaction become faster and many more. For instance, growth of mobile banking user in India according to CEIC data the Volume data user was reported at 1,362.307 Unit mn in Nov 2019. It records an increase from the previous number of 1,252.539 Unit mn for Oct 2019. This volume data remains active status in CEIC and is reported by Reserve Bank of India. Growing needs and expectations of the customers to ease the operational process of banking is booming the demand of mobile banking among the individuals in the market.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Google Inc. (United States), Obopay Inc (United States), Sybase Inc. (United States), Appway (Switzerland), Backbase (Netherlands), CREALOGIX (Switzerland), ebanklT (England), EdgeVerve (India), Intellect Design Arena (India), Finastra (United Kingdom), ieDigital (England) and ETRONIKA (Lithuania) |
This growth is primarily driven by Increasing Demand among Banks to Deliver Enhanced Customer Experience and Increasing Need of Internet Banking Across the Globe.
Globally, a noticeable market trend is evident Use of Artificial Intelligence and Advanced Biometrics for Mobile Banking
Major Players, such as Google Inc. (United States), Obopay Inc (United States), Sybase Inc. (United States), Appway (Switzerland), Backbase (Netherlands), CREALOGIX (Switzerland), ebanklT (England), EdgeVerve (India), Intellect Design Arena (India), Finastra (United Kingdom), ieDigital (England) and ETRONIKA (Lithuania), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
July 2019 D3 Technology Is Acquired By NCR, United States Based NCR Is Solution Provider In Banking And Financial Sectors To The Consumer With Its Software And Applications. It Enables Transaction To Several Industries, Financial, Retail, Hospitality And Others. These Acquisition Leads And Forces To Create A Powerful Digital Transformation For Financial And Banking Sector. NCR Is Having Hold On Cloud-Based Solutions While Merging With D3 Will Expand The Business On-Premise Solutions As Well.
Influencing Trend:
Use of Artificial Intelligence and Advanced Biometrics for Mobile Banking and ATM Withdrawals without Chip Card (Withdraw Money at ATMs Using Only an Application)
Market Growth Drivers:
Increasing Demand among Banks to Deliver Enhanced Customer Experience and Increasing Need of Internet Banking Across the Globe
Challenges:
Mobile Banking Issues Related To Security and Safety and Risks Associated With Mobile Banking (Hacking)
Restraints:
Lack of Connectivity and Unavailability of Network Infrastructures and Device Support and Operability Issues of Applications
Opportunities:
Technological Advancement in Mobile Banking and Use of Smart Bots Drive the Market and The Rapid Adoption of Mobile Handset among Individuals in Emerging Economies Asia and Europe
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Mobile Banking Market
- Analysis about New Entrants in Mobile Banking Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Mobile Banking Study Sheds Light on
The Mobile Banking Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Mobile Banking industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Mobile Banking industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.