Increasing production and sales of smartphones and other electronic devices, and rising adoption of online banking and financial transactions, coupled with need for IoT in BFSI sector to analyze customers’ usage patterns are key factors driving market revenue growth.
Market Size - USD 551.8 Million in 2020, Market Growth - CAGR of 46.9%, Market Trends - Rising investments for developing advanced technologies by major players in the global market.
The global IoT in banking and financial services market size is expected to reach USD 12.17 Billion in 2028, and register a CAGR of 46.9% during the forecast period. Spreading awareness regarding advantages and uses of IoT such as capturing data from various available sources for filtering and analyzing the data in order to gain insights into various processes of a business. In the banking and financial services sector, this technology helps is figuring out ways to leverage the potential of IoT to bring out better revenues from business activities. This is among the major factors expected to drive growth of the global IoT in banking and financial services market.
Some Key Findings From the Report:
For the purpose of this report, the global IoT in banking and financial services market is segmented on the basis of software, organization size, application, end use, and region:
Software Outlook (Revenue, USD Billion; 2018 - 2028)
Organization Size Outlook (Revenue, USD Billion; 2018 - 2028)
Application Outlook (Revenue, USD Billion; 2018 - 2028)
End Use Outlook (Revenue, USD Billion; 2018 - 2028)
Region Outlook (Revenue, USD Billion; 2018 - 2028)
Reasons to Buy the Report
Market Size - USD 551.8 Million in 2020, Market Growth - CAGR of 46.9%, Market Trends - Rising investments for developing advanced technologies by major players in the global market.
The global IoT in banking and financial services market size is expected to reach USD 12.17 Billion in 2028, and register a CAGR of 46.9% during the forecast period. Spreading awareness regarding advantages and uses of IoT such as capturing data from various available sources for filtering and analyzing the data in order to gain insights into various processes of a business. In the banking and financial services sector, this technology helps is figuring out ways to leverage the potential of IoT to bring out better revenues from business activities. This is among the major factors expected to drive growth of the global IoT in banking and financial services market.
Some Key Findings From the Report:
- Among the organization size segments, the large sized organizations segment accounted for the largest revenue share of 64.2% in 2020.
- The Asia Pacific market size was USD 138.0 Million in 2020, due to availability of high-speed Internet, and increasing adoption of advanced technologies including analytics and IoT by various end use industries in countries in the region.
- Key players profiled in the report include IBM Corporation, Microsoft Corporation, SAP SE, Oracle Corporation, Accenture PLC, Cisco Systems, Inc., Vodafone Group PLC, Infosys Limited, Software AG, and Capgemini SE. The market players have adopted various strategies including mergers, acquisitions, partnerships, and new product developments, among other strategies, to stay ahead of the competition and expand market footprint.
For the purpose of this report, the global IoT in banking and financial services market is segmented on the basis of software, organization size, application, end use, and region:
Software Outlook (Revenue, USD Billion; 2018 - 2028)
- Security and Monitoring
- Customer Experience Management
- Payment Management
- Data Management
- Others
Organization Size Outlook (Revenue, USD Billion; 2018 - 2028)
- Large Sized Organizations
- Small and Medium-Sized Organizations (SMEs)
Application Outlook (Revenue, USD Billion; 2018 - 2028)
- Cyber Security
- Customer Relationship Management
- Proactive Services
- Transportation and Logistics
- Product Marketing and Planning
- Others
End Use Outlook (Revenue, USD Billion; 2018 - 2028)
- Banking Services
- Insurance Companies
- Investment Banking
- Mortgage Companies
- Foreign Exchange
- Stock Market
- Brokerage Firms
- Others
Region Outlook (Revenue, USD Billion; 2018 - 2028)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
Reasons to Buy the Report
- A robust analysis and estimation of the IoT in Banking And Financial Services Market with four levels of quality check - in-house database, expert interviews, governmental regulation, and a forecast specifically done through time series analysis
- A holistic competitive landscape of the all the major players in the IoT in Banking And Financial Services Market. The report covers their market shares, strategic initiatives, new product launches, R&D expenditure, M&As, Joint ventures, expansionary plans, product wise metric space analysis and key developments
- Go-to-market strategies specifically formulated in line with location analysis which takes into the factors such as government regulations, supplier mapping, supply chain obstacles, and feedback from local vendors
- Most deep dive segmental bifurcation available currently in the market. Our stellar methodology helps us understand the overall gamut of the supply chain and will help you explain the current market dynamics
- Special focus given on vendor landscape, supplier portfolio, customer mapping, production capacity, and yearly capacity utilization
Table of Contents
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 4. IoT In Banking And Financial Services Market Segmentation & Impact Analysis
Chapter 5. IoT In Banking And Financial Services Market By Software Insights & Trends
Chapter 6. IoT In Banking And Financial Services Market By Organization Size Insights & Trends
Chapter 7. IoT In Banking And Financial Services Market By Application Insights & Trends
Chapter 8. IoT In Banking And Financial Services Market By Industry Vertical Insights & Trends
Chapter 9. IoT In Banking And Financial Services Market Regional Outlook
Chapter 10. Competitive Landscape
Chapter 11. Company Profiles
Companies Mentioned
- IBM Corporation
- Microsoft Corporation
- SAP SE
- Oracle Corporation
- Accenture
- Cisco Systems Inc.
- Vodafone Group PLC
- Infosys Limited
- Software AG
- Capgemini SE