Global M-Banking Market 2012-2016
- ID: 2703238
- November 2013
- Region: Global
- 26 Pages
With the fast paced world, both money and time are becoming increasingly scarce. People seek platforms which are user-friendly and time-saving for conducting their transactions. In response to this, the banks and financial institutions have evolved and innovated newer platforms such as m-banking considering the convenience of the people.
Mobile banking has been a revolution in the banking and payments industry. The high penetration of mobile phone and the growing acceptance has played an instrumental role in the growth of the market in the last decade.
The analysts forecast the Global Mobile Banking market to grow at a CAGR of 22.47 percent over the period 2012-2016. Mobile phones have become an integral part of people's life. Most of their behavioral aspects and needs can be mapped with the help of their mobile related activities.
Paucity of time and user-friendly interface of smartphones has fueled the growth of m-banking market. This provides convenience to the customers and it is the reason for their growing inclination towards m-banking. It discusses in detail about its ecosystem, value chain, key drivers, restraints and the opportunities available in this segment and also about the deployment technologies and regulatory trends. However, the growth trajectory is grappling with some serious challenges. One of major problems in the market is the infrastructure and cost barriers.
The geographical segmentation of the Global M-Banking market has been explained in the report by demarcating the spread between developing and developed nations and the factors attributing to it.
Key questions answered in this report:
- What will the market size be in 2016 and what will be the growth rate?
- What are key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by key vendors?
- What are the strengths and weaknesses of each of these key vendors?
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01. Executive Summary 1
02. Introduction 2
03. Bright Future Ahead 3
04. Different M-banking Channels 4
04.1 Banking via SMS 5
04.2 USSD Service 5
04.3 IVR (Interactive Voice Response) 6
04.4 Browser or WAP Service 7
05. The Americas and Europe Were the Early Adopters 9
06. What Interests People: Paucity of Time is the Growing Concern for People 12
07. What is in it for Banks: Reduction in Infrastructure Costs for Banks 13
08. Lack of Demand Has Been One of the Hiccups for Banks 14
08.1 Lack of demand 14
08.2 Security issues 14
08.3 Connectivity issues 15
08.4 Handset operability 16
08.5 Regulatory issues 16
09. Regulatory and Trade Associations Involved 18
10. Leading Players 20
11. Other Reports in this Series 21
Exhibit 1: Global M-Banking Market 2012-2016 (millions) 3
Exhibit 2: M-Banking Channel Partners 4
Exhibit 3: Mobile Platforms Adopted by Service Providers 2012 7
Exhibit 4: Developed versus Developing Markets 2012 9
Exhibit 5: Developed Markets 2012 10
Exhibit 6: Developing Markets 2012 10
Exhibit 7: Top 10 Countries with High Mobile Penetration 2013 12
Exhibit 8: Exhibit 8: Security concerns is one of the major hiccups 15
Exhibit 9: Lack of Demand Stands Out for Non-adoption of M-banking 17
Commenting on the report, an analyst from the team said: “The high penetration of mobile phone and the growing acceptance has played an instrumental role in the growth of the market in the last decade.”
According to the report, the user-friendly interface of smartphones has fueled the growth of m-banking market. This provides convenience to the customers and it is the reason for their growing inclination towards m-banking.
Further, the report states that one of major problems in the market is the infrastructure and cost barriers.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.