Global Mobile Banking Market
Mobile banking services are the types of services provided by banks or other financial institutions in order to provide the facility to conduct the several transactions remotely by making the use of mobile phones. Several smart devices such as tablets and mobile phones are used to carry out transactions in mobile banking primarily to transfer the money from an account to another. The mobile banking also provides a service regarding the check deposit by taking a picture of it. Apart from that the mobile banking solutions also provide features peer-to-peer (P2P) payments, electronic bill payments, funds transferring between beneficiary accounts, remote check deposits, lists of latest transactions and provide account balances.
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The Global Mobile banking market has witnessed immense growth in the last decade owing it to the number of growth factors such as growth in internet penetration, increase in eCommerce sales, high proliferation of smartphones enabling mCommerce growth, etc. Along with that several governments across the world are taking stringent initiatives and imposing regulatory measures to promote digital payment platforms and cashless transactions. The global market can expect a further boost with 5G services on the way. The services operate with the applications designed for android, iPhone, or other device platforms. The operations need a reliable data connection to be carried out.
The market growth for the mobile banking industry is associated with number of growth factors. The rising demand for personalized services and self-service is boosting the demand for these services. The technological advancements made in the sector are also anticipated to propel the growth further. Furthermore, the advanced services such as use of mobile devices to get immediate customer assistance and delivery of personalized real-time customer service via smartbots are some additional factors providing thrust to the growth of the industry. The rise in the competition in the global mobile banking industry has implemented the user-friendly interfaces and place and time convenience for the customers across the globe. However, the raise in the concerns regarding data security might act as a hurdle for the industry.
Some of the key players operating in the competitive edge of global Mobile Banking Market include Aepona, ABSA, Comviva, C-SAM, Don River, LUUP, Google, Obopay, Sybase, eSery Global Ltd., Monitise, SunTrust, Harris Online, Vesta, Union M-Banking, Arvest, Visa, TCF and PayPal Mobile replacing services provided by MoneyGram and Western Union.
Market by Types
by Solution (Customer management, Mobile banking features, Mobile payment features, Mobile trading features, Others), by Technology (Wireless application protocol (WAP), Standalone mobile application)
Market by Application
by Deployment (On-cloud, On-premise)
What to expect from the upcoming report on ‘Mobile Banking Market Share’:
- Future Outlook and Current Trend of Mobile Banking Market Share by the End of the Forecast Period (2019-2025).
- Information on technological progress and innovation around the world
- Government support can affect market dominance.
- In-depth analysis of various market segments, including local segmentation, applications and types
- An in-depth analysis of the market's competitive landscape and initiatives to improve this market.
- Market Trends, Drivers, Opportunities, Restraints, Challenges and Key Developments
Who should buy this report?
Venture capitalists, Investors, financial institutions, Analysts, Government organizations, regulatory authorities, policymakers ,researchers, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
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