Market Research Report
Mobile Banking Market by Transaction (Consumer-to-consumer and Consumer-to-Business), and Platform (Android, iOS, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026
|Published by||Allied Market Research||Product code||927348|
|Published||Content info||177 Pages
Delivery time: 2-3 business days
|Mobile Banking Market by Transaction (Consumer-to-consumer and Consumer-to-Business), and Platform (Android, iOS, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026|
|Published: January 1, 2020||Content info: 177 Pages||
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.
The other players in the value chain include (profiles not included in the report) the following: