(At a CAGR of 16.8% ) Mobile Banking Market Expected to Reach $7 Bn by 2032 | BNP Paribas,Citigroup Inc., Wells Fargo
(At a CAGR of 16.8% ) Mobile Banking Market Expected to Reach $7 Bn by 2032 | BNP Paribas,Citigroup Inc., Wells Fargo
NEW CASTLE, WILMINGTON, UNITED STATES, July 30, 2024 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global mobile banking market1 was estimated at $715.3 million in 2018 and is expected to hit at $1.82 billion by 2026, registering a CAGR of 12.2% from 2019 to 2026. The report provides a detailed analysis of the market size & estimations, top investment pockets, top winning strategies, drivers & opportunities, competitive scenario, and wavering market trends.
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Development in technology, rise in consumer acceptance, and increase in smartphone usage fuel the growth of the global mobile banking market. On the other hand, rise in concerns related to safety and security along with inappropriate connectivity and network infrastructure impede the growth to some extent. However, incorporation of new technologies is expected to usher in new opportunities in the market.
The consumer to business(C2B) segment to lead the trail by 2026-
Based on transactions, the consumer to business (C2B) segment accounted for nearly three-fourths of the total market share in 2018, and is projected to retain its dominance during the study period. This segment is also expected to grow at the highest CAGR of 12.4% by 2026.
The android segment to retain its dominance in terms of revenue-
Based on platforms, the android segment contributed to nearly three-fourths of the total market revenue2 in 2018, and will continue to rule the roost during 2019–2026. At the same time, the iOS segment is projected to manifest the fastest CAGR of 12.7% throughout the forecast period,
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North America garnered the highest share in 2018-
Based on geography, North America generated the highest market share in 2018, holding nearly half of the total market. The Asia-Pacific region, on the other hand, would cite the fastest CAGR of 16.0% till 2026. The other two regions analyzed in the market include Europe and LAMEA.
Leading market players-
The key market players analyzed in the global mobile banking market include Bank of America Corporation, Mitsubishi UFJ Financial Group, Inc., JPMorgan Chase & Co., Citigroup Inc., American Express Company, Crédit Agricole Group, Société Générale S.A., HSBC Holdings plc, BNP Paribas S.A., and Wells Fargo & Company. They have incorporated a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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Key Findings of the Study
By transaction, the consumer-to-business segment led the mobile banking market share in terms of revenue in 2022.
By platform, the android segment led the mobile banking market in terms of revenue in 2022.
By region, North America generated the highest revenue in 2022.
➡️𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐚𝐭 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭𝐞𝐝 𝐏𝐫𝐢𝐜𝐞:
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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1 https://www.alliedmarketresearch.com/mobile-banking-market
2 https://www.globenewswire.com/news-release/2020/03/16/2001107/0/en/Mobile-Banking-Market-Size-to-Hit-1-82-Billion-by-2026-Government-Initiatives.html
