PUBLISHER: Allied Market Research | PRODUCT CODE: 1365572
PUBLISHER: Allied Market Research | PRODUCT CODE: 1365572
According to a new report published by Allied Market Research, titled, "Neobanking Market," The neobanking market was valued at $68.95 billion in 2022, and is estimated to reach $3252 billion by 2032, growing at a CAGR of 47.3% from 2023 to 2032.
Increase in digitalization of banking activities and increase in demand for digital banking solutions is boosting the growth of the global neobanking market. In addition, increase in use of mobile banking is positively impacts the growth of the market. However, security issues and privacy concerns and high implementation cost is hampering the neobanking market growth. On the contrary, rising Investments in fintech industry is expected to offer remunerative opportunities for expansion of the market during the forecast period.
The neobanking market is segmented on the basis of account type, service type, application, and region. On the basis of account type, the market is categorized into business account, and saving account. On the basis of service type, the market is fragmented into mobile banking, payments & money transfer, checking/saving accounts, loans, and others. By application, it is classified into enterprise, personal, and other. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players that operate in the neobanking market are Monzo Bank Limited, Movencorp, Inc., WeBank, PRETA S.A.S., N26 AG, Revolut Ltd., Ubank, Pockit LTD, Starling Bank Limited, and Atom Bank PLC These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key Benefits of Stakeholders
The study provides an in-depth analysis of the global neobanking market forecast along with the current and future trends to explain the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on global neobanking market trend is provided in the report.
The Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the market from 2022 to 2032 is provided to determine the market potential.
Additional benefits you will get with this purchase are:
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