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Mobile Banking Market by Transaction, and Platform: Global Opportunity Analysis and Industry Forecast, 2019-2026

  • ID: 5021830
  • Report
  • January 2020
  • Region: Global
  • 177 pages
  • Allied Analytics LLP

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FEATURED COMPANIES

  • Ally Financial Inc.
  • BNP Paribas S.A.
  • Citigroup Inc.
  • HSBC Holdings plc
  • JPMorgan Chase & Co.
  • Strands Inc.
The global mobile banking market was valued at $715.3 million in 2018 and is expected to reach $1,824.7 million by 2026, registering a CAGR of 12.2% from 2019-2026. Mobile banking refers to an internet-based facility provided by a bank or other financial institutions, allowing users to conduct financial transactions remotely using a mobile device. In addition, it typically operates across mobile web or applications developed for iPhone, android, or other devices. Mobile banking is also used for transferring money from one account to another and depositing a check by taking a picture, which is prominently provided feature for mobile banking in the market.



The technological advancements in mobile banking such as the delivery of personalized real-time customer service via smart bots and rise in usage of mobile devices allowing users to obtain instant customer assistance, drive the market growth. However, less adoption of mobile banking application due to lack of proper connectivity, and unavailability of proper network infrastructure in developing countries, is expected to restrain the market growth. On the contrary, utilization of chatbots, and other services is expected to improve consumer engagements which fuel the growth of the market.

The global mobile banking market is segmented on the basis of transactions, platforms, and region. On the basis of transactions, the market is bifurcated into consumer-to-consumer and consumer-to-business. By platforms, the market is classified into android, iOS, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

KEY BENEFITS FOR STAKEHOLDERS
  • The study provides an in-depth analysis of the global mobile banking market share with the current trends and future estimations to elucidate the imminent investment pockets.
  • Comprehensive analysis of the factors that drive and restrict the market growth is provided in the report.
  • Comprehensive quantitative analysis of the industry from 2019 to 2026 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
  • Extensive analysis of the key segments of the industry helps in understanding the transaction and platform across the globe.
  • Key players and their strategies are provided to understand the competitive outlook of the mobile banking market forecast.
KEY MARKET SEGMENTS

By Transaction
  • Consumer-to-consumer
  • Consumer-to-business
By Platform
  • Android
  • iOS
  • Others
By Region
  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Rest of Europe
  • Asia-Pacific
  • Australia
  • Japan
  • India
  • China
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa
  • Rest of LAMEA
KEY PLAYERS PROFILED
  • American Express Company
  • Bank of America Corporation
  • BNP Paribas S.A.
  • Citigroup Inc.
  • Crédit Agricole Group
  • HSBC Holdings plc
  • JPMorgan Chase & Co.
  • Mitsubishi UFJ Financial Group, Inc.
  • Société Générale S.A.
  • Wells Fargo & Company
The other players in the value chain include (profiles not included in the report)the following:
  • Temenos Group AG
  • Capital Banking Solutions
  • Ally Financial Inc.
  • Infosys Limited
  • Strands, Inc.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Ally Financial Inc.
  • BNP Paribas S.A.
  • Citigroup Inc.
  • HSBC Holdings plc
  • JPMorgan Chase & Co.
  • Strands Inc.

Chapter 1: Introduction
1.1. Report Description
1.2. Key Benefits for Stakeholders
1.3. Key Market Segments
1.3.1. List of Key Players Profiled In The Report
1.4. Research Methodology
1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tools And Models

Chapter 2: Executive Summary
2.1. Key Findings of The Study
2.2. Cxo Perspective

Chapter 3: Market Overview
3.1. Market Definition And Scope
3.2. Key Findings
3.2.1. Top Investment Pockets
3.2.2. Top Winning Strategies, 2018
3.3. Top Player Positioning, 2017
3.4. Porter's Five Forces Analysis
3.5. Market Dynamics
3.5.1. Drivers
3.5.1.1. Increasing Consumers Demand
3.5.1.2. Technological Advancements
3.5.1.3. Rise In Mobile Usage
3.5.2. Restraints
3.5.2.1. Rise In Security And Privacy Concerns
3.5.2.2. Lack of Proper Connectivity And Unavailability of Network Infrastructure
3.5.3. Opportunity
3.5.3.1. Integration of Advanced Technologies
3.5.4. Impact Analyses

Chapter 4: Artificial Intelligence In Bfsi Market, By Transaction
4.1. Overview
4.1.1. Market Size And Forecast
4.2. Consumer-To-Consumer
4.2.1. Key Market Trends, Growth Factors, And Opportunities
4.2.2. Market Size And Forecast, By Country
4.2.3. Market Size And Forecast, By Region
4.3. Consumer-To-Business
4.3.1. Key Market Trends, Growth Factors, And Opportunities
4.3.2. Market Size And Forecast, By Country
4.3.3. Market Size And Forecast, By Region

Chapter 5: Artificial Intelligence In Bfsi Market, By Platform
5.1. Overview
5.1.1. Market Size And Forecast
5.2. Android
5.2.1. Market Size And Forecast, By Country
5.2.2. Market Size And Forecast, By Region
5.3. Ios
5.3.1. Market Size And Forecast, By Country
5.3.2. Market Size And Forecast, By Region
5.4. Others
5.4.1. Market Size And Forecast, By Country
5.4.2. Market Size And Forecast, By Region

Chapter 6: Mobile Banking Market, By Region
6.1. Overview
6.1.1. Market Size And Forecast
6.2. North America
6.2.1. Key Market Trends, Growth Factors, And Opportunities
6.2.1.1. U.S.
6.2.1.1.1. U.S. Mobile Banking Market, By Transactions
6.2.1.1.2. U.S. Mobile Banking Market, By Platforms
6.2.1.2. Canada
6.2.1.2.1. Canada Mobile Banking Market, By Transactions
6.2.1.2.2. Canada Mobile Banking Market, By Platforms
6.2.1.3. Mexico
6.2.1.3.1. Mexico Mobile Banking Market, By Transactions
6.2.1.3.2. Mexico Mobile Banking Market, By Platforms
6.3. Europe
6.3.1. Key Market Trends, Growth Factors, And Opportunities
6.3.2. Market Size And Forecast, By Country
6.3.2.1. Germany
6.3.2.1.1. Germany Mobile Banking Market, By Transactions
6.3.2.1.2. Germany Mobile Banking Market, By Platforms
6.3.2.2. France
6.3.2.2.1. France Mobile Banking Market, By Transactions
6.3.2.2.2. France Mobile Banking Market, By Platforms
6.3.2.3. UK
6.3.2.3.1. UK Mobile Banking Market, By Transactions
6.3.2.3.2. UK Mobile Banking Market, By Platforms
6.3.2.4. Rest of Europe
6.3.2.4.1. Rest of Europe Mobile Banking Market, By Transactions
6.3.2.4.2. Rest of Europe Mobile Banking Market, By Platforms
6.4. Asia-Pacific
6.4.1. Key Market Trends, Growth Factors, And Opportunities
6.4.2. Market Size And Forecast, By Country
6.4.2.1. Australia
6.4.2.1.1. Australia Mobile Banking Market, By Transactions
6.4.2.1.2. Australia Mobile Banking Market, By Platforms
6.4.2.2. Japan
6.4.2.2.1. Japan Mobile Banking Market, By Transactions
6.4.2.2.2. Japan Mobile Banking Market, By Platforms
6.4.2.3. India
6.4.2.3.1. India Mobile Banking Market, By Transactions
6.4.2.3.2. India Mobile Banking Market, By Platforms
6.4.2.4. China
6.4.2.4.1. China Mobile Banking Market, By Transactions
6.4.2.4.2. China Mobile Banking Market, By Platforms
6.4.2.5. Rest of Asia-Pacific
6.4.2.5.1. Rest of Asia-Pacific Mobile Banking Market, By Transactions
6.4.2.5.2. Rest of Asia-Pacific Mobile Banking Market, By Platform
6.5. LAMEA
6.5.1. Key Market Trends, Growth Factors, And Opportunities
6.5.2. Market Size And Forecast, By Country
6.5.2.1. Latin America
6.5.2.1.1. Latin America Mobile Banking Market, By Transactions
6.5.2.1.2. Latin America Mobile Banking Market, By Platforms
6.5.2.2. Middle East
6.5.2.2.1. Middle East Mobile Banking Market, By Transactions
6.5.2.2.2. Middle East Mobile Banking Market, By Platforms
6.5.2.3. Africa
6.5.2.3.1. Africa Mobile Banking Market, By Transactions
6.5.2.3.2. Africa Mobile Banking Market, By Platforms

Chapter 7: Company Profiles
7.1. American Express Company
7.1.1. Company Overview
7.1.2. Company Snapshot
7.1.3. Operating Business Segments
7.1.4. Product Portfolio
7.1.5. Business Performance
7.2. Bank of America Corporation
7.2.1. Company Overview
7.2.2. Company Snapshot
7.2.3. Operating Business Segments
7.2.4. Product Portfolio
7.2.5. Business Performance
7.2.6. Key Strategic Moves And Developments
7.3. Bnp Paribas
7.3.1. Company Overview
7.3.2. Company Snapshot
7.3.3. Operating Business Segments
7.3.4. Product Portfolio
7.3.5. Business Performance
7.3.6. Key Strategic Moves And Developments
7.4. Citigroup Inc.
7.4.1. Company Overview
7.4.2. Company Snapshot
7.4.3. Operating Business Segments
7.4.4. Product Portfolio
7.4.5. Business Performance
7.4.6. Key Strategic Moves And Developments
7.5. Credit Agricole
7.5.1. Company Overview
7.5.2. Company Snapshot
7.5.3. Operating Business Segments
7.5.4. Product Portfolio
7.5.5. Business Performance
7.5.6. Key Strategic Moves And Developments
7.6. Hsbc Holdings Plc
7.6.1. Company Overview
7.6.2. Company Snapshot
7.6.3. Operating Business Segments
7.6.4. Product Portfolio
7.6.5. Business Performance
7.6.6. Key Strategic Moves And Developments
7.7. Jpmorgan Chase & Co
7.7.1. Company Overview
7.7.2. Operating Business Segments
7.7.3. Product Portfolio
7.7.4. Business Performance
7.7.5. Key Strategic Moves And Developments
7.8. Mitsubishi Ufj Financial Group, Inc.
7.8.1. Company Overview
7.8.2. Company Snapshot
7.8.3. Operating Business Segments
7.8.4. Product Portfolio
7.8.5. Business Performance
7.9. Societe Generale Group
7.9.1. Company Overview
7.9.2. Company Snapshot
7.9.3. Operating Business Segments
7.9.4. Product Portfolio
7.9.5. Business Performance
7.10. Wells Fargo & Company
7.10.1. Company Overview
7.10.2. Company Snapshot
7.10.3. Operating Business Segments
7.10.4. Product Portfolio
7.10.5. Business Performance
7.10.6. Key Strategic Moves And Developments

Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Ally Financial Inc.
  • BNP Paribas S.A.
  • Citigroup Inc.
  • HSBC Holdings plc
  • JPMorgan Chase & Co.
  • Strands Inc.
According to the report, titled, ' Mobile Banking Market by Transaction, and Platform: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the global mobile banking market size was valued at $715.3 million in 2018, and is projected to reach $1,824.7 million by 2026, growing at a CAGR of 12.2% from 2019 to 2026.

Mobile banking, which allows users to conduct financial transactions remotely using a mobile device, is operated by a bank or other financial institution in the market. The devices such as smartphones or tablets are used for mobile banking, primarily for transferring money from one account to another and depositing a check by taking a picture, which is prominently provided feature for mobile banking in the market. Moreover, mobile banking is conducted with the availability of an internet or data connection to the mobile device. Depending on the feature provided in applications, the products and services included in the mobile banking are peer-to-peer (P2P) payments, obtaining account balances and lists of latest transactions, electronic bill payments, remote check deposits, funds transfers between a customer's or another's accounts, and others.

The increase in demand for personalization on products & services and instant self-service assistance via mobile application propel the growth of the mobile banking market. However, lack of proper connectivity and unavailability of network infrastructure in developing countries for integrating mobile banking usage, are some of the factors that limit the mobile banking market growth. Conversely, utilization of chatbots, blockchain, and other services is expected to improve consumer engagements which fuel the growth of the market.

On the basis of transactions, the customer-to-business segment dominated the mobile banking market in 2018. The customer-to-business segment accounted for the largest revenue owing to the fact that the customers are primarily using mobile banking for transferring money on a daily basis for various purchases made online, paying equated monthly instalment (EMI), and other such financial transactions in their day-to-day life. In addition, mobile banking offers both a secure and low-cost channel, that enables consumers to manage their finances by using banking applications in an effective way and is expected to boost the growth of the consumer-to-business segment.

Depending on platforms, the android segment generated the highest revenue in 2018 and is anticipated to continue the same during the forecast period. Owing to the fact that, the developing economies are at the forefront in the usage of android platform, resulting in banks to concentrate more on providing mobile banking services on this platform, becoming a major mobile banking market trend. In addition, Google Play Store downloads has increased by 14% growth rate from 2017 to 2018 via android operating system.

Key Findings of the Study
The customer-to-business segment is expected to be the fastest growing segment during the mobile banking market forecast period in terms of value.
The U.S. dominated the North America mobile banking market in 2018 and is projected to grow at a CAGR of 10.1% from 2019 to 2026.
In terms of revenue, android segment accounted for the highest revenue in 2018.
North America and Europe dominated the mobile banking market share in terms of revenue in 2018 and are expected to retain its dominance throughout the forecast period. Owing to rise in adoption of mobile banking, banks have been investing in advance technologies at a large scale and enhancing customized product portfolios via mobile applications. Asia-Pacific is projected to grow at the highest CAGR during the forecast period, owing to development of digital banking, increase in usage of internet, implementation of next generation mobile technologies like 4G, and a robust economy driving strong mobile banking industry growth in the region.

The key players operating in the global mobile banking market include American Express Company, Bank of America Corporation, BNP Paribas S.A., Citigroup Inc., Crédit Agricole Group, HSBC Holdings plc, JPMorgan Chase & Co., Mitsubishi UFJ Financial Group, Inc., Société Générale S.A., Wells Fargo & Company. Other players operating in the value chain are Temenos Group AG, Capital Banking Solutions, Ally Financial Inc., Infosys Limited, and Strands, Inc.
Note: Product cover images may vary from those shown
  • American Express Company
  • Bank of America Corporation
  • BNP Paribas S.A.
  • Citigroup Inc.
  • Crédit Agricole Group
  • HSBC Holdings plc
  • JPMorgan Chase & Co.
  • Mitsubishi UFJ Financial Group Inc.
  • Société Générale S.A.
  • Wells Fargo & Company
  • Temenos Group AG
  • Capital Banking Solutions
  • Ally Financial Inc.
  • Infosys Limited
  • Strands Inc.
Note: Product cover images may vary from those shown

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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