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North America Mobile Banking Market Size, Share & Trends Analysis Report By Platform (Android, iOS, and Others), By Transaction (Consumer-to-business, and Consumer-to-consumer), By Country and Growth Forecast, 2024 - 2031

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    Report

  • 83 Pages
  • April 2024
  • Region: North America
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5953470
The North America Mobile Banking Market would witness market growth of 15.6% CAGR during the forecast period (2024-2031).

The US market dominated the North America Mobile Banking Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,144.3 Million by 2031. The Canada market is experiencing a CAGR of 18.2% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 17.2% during (2024 - 2031).



This banking offers a wide range of applications that empower users to conveniently manage their finances and access banking services on the go. For instance, banking apps allow users to view real-time account balances, past transactions, and statements. Users can also monitor their finances, track expenses, and identify any unauthorized transactions directly from their mobile devices.

Users can initiate fund transfers between their accounts and those within the same bank or external accounts held at different financial institutions. This banking facilitates quick and secure transfers, including peer-to-peer (P2P) payments, bill payments, and international remittances. Furthermore, banking apps enable users to pay bills, utilities, and other expenses directly from their smartphones.

The International Trade Administration (ITA) estimates that by the end of 2022, there will be 96.8 million Internet users in Mexico, a rise of 9.3 percent annually. Additionally, in 2022, e-commerce in Mexico increased by 23%. Mexico has been among the top five nations in the world for the last four years in terms of e-commerce growth. Similarly, according to Statistics Canada, more than three in four Canadians (78%) used the internet to conduct general online banking, and one in six (16%) used it to manage investments online, such as stocks, mutual funds, and cryptocurrencies. About two-thirds (68%) of Canadians stated that they have noticed the role of artificial intelligence (AI) in various applications online. Thus, the increasing internet penetration and rising internet use for banking activities in the region are driving the market’s growth.

Based on Platform, the market is segmented into Android, iOS, and Others. Based on Transaction, the market is segmented into Consumer-to-business, and Consumer-to-consumer. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

List of Key Companies Profiled

  • Mitsubishi UFJ Financial Group, Inc. (Mitsubishi group)
  • JPMorgan Chase & Co.
  • Wells Fargo & Company
  • BNP Paribas S.A.
  • American Express Company
  • HSBC Holdings plc
  • UBS AG (UBS Group AG)
  • CAPITAL ONE FINANCIAL CORPORATION
  • The Bank of America Corporation
  • Citigroup Inc.

Market Report Segmentation

By Platform
  • Android
  • iOS
  • Others
By Transaction
  • Consumer-to-business
  • Consumer-to-consumer
By Country
  • US
  • Canada
  • Mexico
  • Rest of North America

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Mobile Banking Market, by Platform
1.4.2 North America Mobile Banking Market, by Transaction
1.4.3 North America Mobile Banking Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
Chapter 4. Competition Analysis - Global
4.1 Cardinal Matrix
4.2 Recent Industry Wide Strategic Developments
4.2.1 Partnerships, Collaborations and Agreements
4.2.2 Product Launches and Product Expansions
4.2.3 Acquisition and Mergers
4.3 Top Winning Strategies
4.3.1 Key Leading Strategies: Percentage Distribution (2019-2023)
4.3.2 Key Strategic Move: (Mergers & Acquisition: 2021, Jun - 2024, Feb) Leading Players
4.4 Porter Five Forces Analysis
Chapter 5. North America Mobile Banking Market by Platform
5.1 North America Android Market by Country
5.2 North America iOS Market by Country
5.3 North America Others Market by Country
Chapter 6. North America Mobile Banking Market by Transaction
6.1 North America Consumer-to-business Market by Country
6.2 North America Consumer-to-consumer Market by Country
Chapter 7. North America Mobile Banking Market by Country
7.1 US Mobile Banking Market
7.1.1 US Mobile Banking Market by Platform
7.1.2 US Mobile Banking Market by Transaction
7.2 Canada Mobile Banking Market
7.2.1 Canada Mobile Banking Market by Platform
7.2.2 Canada Mobile Banking Market by Transaction
7.3 Mexico Mobile Banking Market
7.3.1 Mexico Mobile Banking Market by Platform
7.3.2 Mexico Mobile Banking Market by Transaction
7.4 Rest of North America Mobile Banking Market
7.4.1 Rest of North America Mobile Banking Market by Platform
7.4.2 Rest of North America Mobile Banking Market by Transaction
Chapter 8. Company Profiles
8.1 Mitsubishi UFJ Financial Group, Inc. (Mitsubishi group)
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Recent strategies and developments:
8.1.3.1 Partnerships, Collaborations, and Agreements:
8.2 BNP Paribas S.A.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Regional Analysis
8.2.4 Recent strategies and developments:
8.2.4.1 Partnerships, Collaborations, and Agreements:
8.2.4.2 Acquisition and Mergers:
8.3 UBS AG (UBS Group AG)
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Recent strategies and developments:
8.3.4.1 Partnerships, Collaborations, and Agreements:
8.4 Capital One Financial Corporation
8.4.1 Company Overview
8.4.2 Financial Analysis
8.5 Citigroup Inc.
8.5.1 Company Overview
8.5.2 Financial Analysis
8.6 JPMorgan Chase & Co.
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Recent strategies and developments:
8.6.4.1 Partnerships, Collaborations, and Agreements:
8.6.4.2 Acquisition and Mergers:
8.6.5 SWOT Analysis
8.7 HSBC Holdings plc
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Recent strategies and developments:
8.7.3.1 Product Launches and Product Expansions:
8.7.3.2 Acquisition and Mergers:
8.8 The Bank of America Corporation
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.9 Wells Fargo & Company
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Recent strategies and developments:
8.9.3.1 Partnerships, Collaborations, and Agreements:
8.9.3.2 Product Launches and Product Expansions:
8.9.4 SWOT Analysis
8.10. American Express Company
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Regional Analysis

Companies Mentioned

  • Mitsubishi UFJ Financial Group, Inc. (Mitsubishi group)
  • JPMorgan Chase & Co.
  • Wells Fargo & Company
  • BNP Paribas S.A.
  • American Express Company
  • HSBC Holdings plc
  • UBS AG (UBS Group AG)
  • CAPITAL ONE FINANCIAL CORPORATION
  • The Bank of America Corporation
  • Citigroup Inc.

Methodology

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