PUBLISHER: Polaris Market Research | PRODUCT CODE: 1463118
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1463118
Europe Neobanking Market Share, Size, Trends, Industry Analysis Report, By Account Type (Business Account, Savings Account, Others); By Service Type; By Application; By Region; Segment Forecast, 2024 - 2032
The Europe neobanking market size is expected to reach USD 1,038.24 Billion by 2032, according to a new study by Polaris Market Research. The report "Europe Neobanking Market Share, Size, Trends, Industry Analysis Report, By Account Type (Business Account, Savings Account, Others); By Service Type; By Application; By Region; Segment Forecast, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The development of the latest technologies and the rapid acceptance of altering bank systems accounted for the growth of the market in the Europe region. Additionally, banks are concentrating on creating product platforms and forming alliances in order to strengthen their position in the market. Many neobanks in the region have established conventional distribution channels to develop an online-to-offline (O2O) distribution model, which could aid in the potential expansion of the market. Neobanks are digital banks without physical branches. The entire banking process in Neobank is digital or through mobile-based banking solutions.
The main reason for the development of the neobanks in Europe is ascribed to the comparatively easier mechanisms. Neobanks provide greater transparency and lower interest rates to their customers. The Payment Services Directive Law has aided the rise of neobanks in Europe by granting them comparable functionalities and access to customer data as traditional banks. Neobanks are well-positioned to maintain their leading role in embracing cutting-edge technologies like Artificial Intelligence, blockchain, and biometrics. They aim to deliver banking services that are not only more efficient but also more secure.
Neobanks have a great potential for growth owing to their cost-effective approach for end users in Europe. These banks provide banking services with minimal or no monthly fees, including maintaining a minimum balance, deposits, and withdrawals. Their market expansion is fueled by factors such as quicker loan approval and funding processes compared to traditional banks, along with lower interest rates facilitated through banking applications.
Several neobanks have integrated cryptocurrencies and blockchain technology into their services, allowing customers to manage their digital assets through the neobanking app. Revolut, a London-based neobank, is one example of how it enables its users to easily purchase, sell, and transfer cryptocurrencies with transparency and no hidden fees, all with the click of a button.
Europe Neobanking Market Report Highlights
The business account segment is accounted for the largest market share in the market. The business accounts in the Europe neobanks usually have accessible interfaces that permit simple navigation and access to an assortment of financial tools.
The mobile banking segment held the largest market share; leading neobanks in Europe are providing debit cards and accounts cards that can be easily managed through a mobile app.
Germany has witnessed the fastest growth in the market. German fintech is the second largest market in Europe. Also, the rising adoption of new banking platforms and entirely digital banking experience are driving market growth in the region.
The key market players include Atom Bank PLC, Banco Bilbao Vizcaya Argentaria SA, Bunq, Deutsche Bank AG, Moven Enterprises, Monzo Bank Ltd., N26 GmbH, Revolut Ltd., Sopra Steria Group SA, Ubank Limited, and WeBank Co., Ltd.
Polaris Market Research has segmented the Europe neobanking market report based on account type, service type, application, and country:
Europe Neobanking, Account Type Outlook (Revenue - USD Billion, 2019 - 2032)
- Business Account
- Savings Account
- Others
Europe Neobanking, Service Type Outlook (Revenue - USD Billion, 2019 - 2032)
- Mobile Banking
- Loans
- Payments and Money Transfer
- Checking/Savings Account
- Others
Europe Neobanking, Application Outlook (Revenue - USD Billion, 2019 - 2032)
- Enterprise
- Personal
- Others
Europe Neobanking, Country Outlook (Revenue - USD Billion, 2019 - 2032)
- Germany
- France
- Italy
- U.K
- Russia
- Spain
- Rest of Europe
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
- 2.1. Market Highlights
3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Europe Neobanking Market Insights
- 4.1. Europe Neobanking Market - Industry Snapshot
- 4.2. Europe Neobanking Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Rising internet perception will drive the growth of the neobanking market.
- 4.2.1.2. Increasing investment in the Fintech will bolster the growth of the market.
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Regulatory challenges associated with neobanking hamper on the growth of the market.
- 4.2.1. Drivers and Opportunities
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Europe Neobanking Industry trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Europe Neobanking Market, by Account Type
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Europe Neobanking, by Account Type, 2019-2032 (USD Billion)
- 5.3. Business Account
- 5.3.1. Europe Neobanking Market, by Business Account, 2019-2032 (USD Billion)
- 5.4. Savings Account
- 5.4.1. Europe Neobanking Market, by Savings Account, 2019-2032 (USD Billion)
- 5.5. Others
- 5.5.1. Europe Neobanking Market, by Others, 2019-2032 (USD Billion)
6. Europe Neobanking Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Europe Neobanking Market, by Application, 2019-2032 (USD Billion)
- 6.3. Enterprise
- 6.3.1. Europe Neobanking Market, by Enterprise, 2019-2032 (USD Billion)
- 6.4. Personal
- 6.4.1. Europe Neobanking Market, by Personal, 2019-2032 (USD Billion)
- 6.5. Others
- 6.5.1. Europe Neobanking Market, by Others, 2019-2032 (USD Billion)
7. Europe Neobanking Market, by Service Type
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Europe Neobanking Market, by Service Type, 2019-2032 (USD Billion)
- 7.3. Mobile Banking
- 7.3.1. Europe Neobanking Market, by Mobile Banking, 2019-2032 (USD Billion)
- 7.4. Loans
- 7.4.1. Europe Neobanking Market, by Loans, 2019-2032 (USD Billion)
- 7.5. Payments and Money Transfer
- 7.5.1. Europe Neobanking Market, by Payments and Money Transfer, 2019-2032 (USD Billion)
- 7.6. Checking/Savings Account
- 7.6.1. Europe Neobanking Market, by Checking/Savings Account, 2019-2032 (USD Billion)
- 7.7. Others
- 7.7.1. Europe Neobanking Market, by Others, 2019-2032 (USD Billion)
8. Europe Neobanking Market, by Countries
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Europe Neobanking Market Assessment, By Countries, 2019-2032 (USD Billion)
- 8.2.2. Europe Neobanking Market - Germany
- 8.2.2.1. Germany: Europe Neobanking Market, by Application, 2019-2032 (USD Billion)
- 8.2.2.2. Germany: Europe Neobanking Market, by Account Type, 2019-2032 (USD Billion)
- 8.2.2.3. Germany: Europe Neobanking Market, by Service Type, 2019-2032 (USD Billion)
- 8.2.3. Europe Neobanking Market - Italy
- 8.2.3.1. Italy.: Europe Neobanking Market, by Application, 2019-2032 (USD Billion)
- 8.2.3.2. Italy.: Europe Neobanking Market, by Account Type, 2019-2032 (USD Billion)
- 8.2.3.3. Italy.: Europe Neobanking Market, by Service Type, 2019-2032 (USD Billion)
- 8.2.4. Europe Neobanking Market -Russia
- 8.2.4.1. Russia: Europe Neobanking Market, by Application, 2019-2032 (USD Billion)
- 8.2.4.2. Russia: Europe Neobanking Market, by Account Type, 2019-2032 (USD Billion)
- 8.2.4.3. Russia: Europe Neobanking Market, by Service Type, 2019-2032 (USD Billion)
- 8.2.5. Europe Neobanking Market - UK
- 8.2.5.1. UK: Europe Neobanking Market, by Application, 2019-2032 (USD Billion)
- 8.2.5.2. UK: Europe Neobanking Market, by Account Type, 2019-2032 (USD Billion)
- 8.2.5.3. UK: Europe Neobanking Market, by Service Type, 2019-2032 (USD Billion)
- 8.2.6. Europe Neobanking Market - France
- 8.2.6.1. France: Europe Neobanking Market, by Application, 2019-2032 (USD Billion)
- 8.2.6.2. France: Europe Neobanking Market, by Account Type, 2019-2032 (USD Billion)
- 8.2.6.3. France: Europe Neobanking Market, by Service Type, 2019-2032 (USD Billion)
- 8.2.7. Europe Neobanking Market - Spain
- 8.2.7.1. Spain: Europe Neobanking Market, by Application, 2019-2032 (USD Billion)
- 8.2.7.2. Spain: Europe Neobanking Market, by Account Type, 2019-2032 (USD Billion)
- 8.2.7.3. Spain: Europe Neobanking Market, by Service Type, 2019-2032 (USD Billion)
- 8.2.8. Europe Neobanking Market - Rest of Europe
- 8.2.8.1. Rest of Europe: Europe Neobanking Market, by Application, 2019-2032 (USD Billion)
- 8.2.8.2. Rest of Europe: Europe Neobanking Market, by Account Type, 2019-2032 (USD Billion)
- 8.2.8.3. Rest of Europe: Europe Neobanking Market, by Service Type, 2019-2032 (USD Billion)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. Atom Bank PLC
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Account Type Benchmarking
- 10.1.4. Recent Development
- 10.2. Banco Bilbao Vizcaya Argentaria SA
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Account Type Benchmarking
- 10.2.4. Recent Development
- 10.3. Bunq
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Account Type Benchmarking
- 10.3.4. Recent Development
- 10.4. Deutsche Bank AG
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Account Type Benchmarking
- 10.4.4. Recent Development
- 10.5. Moven Enterprises
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Account Type Benchmarking
- 10.5.4. Recent Development
- 10.6. Monzo Bank Ltd.
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Account Type Benchmarking
- 10.6.4. Recent Development
- 10.7. N26 GmbH
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Account Type Benchmarking
- 10.7.4. Recent Development
- 10.8. Revolut Ltd.
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Account Type Benchmarking
- 10.8.4. Recent Development
- 10.9. Sopra Steria Group SA
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Account Type Benchmarking
- 10.9.4. Recent Development
- 10.10. Ubank Limited
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Account Type Benchmarking
- 10.10.4. Recent Development
- 10.11. WeBank Co., Ltd.
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Account Type Benchmarking
- 10.11.4. Recent Development
List of Tables
- Table 1 Europe Neobanking Market, by Application, 2019-2032 (USD Billion)
- Table 2 Europe Neobanking Market, by Account Type, 2019-2032 (USD Billion)
- Table 3 Europe Neobanking Market, by Service Type, 2019-2032 (USD Billion)
- Table 4 Europe Neobanking Market Assessment, By Countries, 2019-2032 (USD Billion)
- Table 5 Germany: Europe Neobanking Market, by Application, 2019-2032 (USD Billion)
- Table 6 Germany: Europe Neobanking Market, by Account Type, 2019-2032 (USD Billion)
- Table 7 Germany: Europe Neobanking Market, by Service Type, 2019-2032 (USD Billion)
- Table 8 Italy.: Europe Neobanking Market, by Application, 2019-2032 (USD Billion)
- Table 9 Italy.: Europe Neobanking Market, by Account Type, 2019-2032 (USD Billion)
- Table 10 Italy.: Europe Neobanking Market, by Service Type, 2019-2032 (USD Billion)
- Table 11 Russia: Europe Neobanking Market, by Application, 2019-2032 (USD Billion)
- Table 12 Russia: Europe Neobanking Market, by Account Type, 2019-2032 (USD Billion)
- Table 13 Russia: Europe Neobanking Market, by Service Type, 2019-2032 (USD Billion)
- Table 14 UK: Europe Neobanking Market, by Application, 2019-2032 (USD Billion)
- Table 15 UK: Europe Neobanking Market, by Account Type, 2019-2032 (USD Billion)
- Table 16 UK: Europe Neobanking Market, by Service Type, 2019-2032 (USD Billion)
- Table 17 France: Europe Neobanking Market, by Application, 2019-2032 (USD Billion)
- Table 18 France: Europe Neobanking Market, by Account Type, 2019-2032 (USD Billion)
- Table 19 France: Europe Neobanking Market, by Service Type, 2019-2032 (USD Billion)
- Table 20 Germany: Europe Neobanking Market, by Application, 2019-2032 (USD Billion)
- Table 21 Germany: Europe Neobanking Market, by Account Type, 2019-2032 (USD Billion)
- Table 22 Germany: Europe Neobanking Market, by Service Type, 2019-2032 (USD Billion)
- Table 23 Spain: Europe Neobanking Market, by Application, 2019-2032 (USD Billion)
- Table 24 Spain: Europe Neobanking Market, by Account Type, 2019-2032 (USD Billion)
- Table 25 Spain: Europe Neobanking Market, by Service Type, 2019-2032 (USD Billion)
- Table 26 Rest of Europe: Europe Neobanking Market, by Application, 2019-2032 (USD Billion)
- Table 27 Rest of Europe: Europe Neobanking Market, by Account Type, 2019-2032 (USD Billion)
- Table 28 Rest of Europe: Europe Neobanking Market, by Service Type, 2019-2032 (USD Billion)
List of Figures
- Figure 1 Europe Neobanking Market, 2019-2032 (USD Billion)
- Figure 2 Integrated Ecosystem
- Figure 3 Research Methodology: Top-Down & Bottom-Up Approach
- Figure 4 Market by Countries
- Figure 5 Porter's Five Forces
- Figure 6 Market by Application
- Figure 7 Europe Neobanking Market, by Application, 2021 & 2030 (USD Billion)
- Figure 8 Market by Account Type
- Figure 9 Europe Neobanking Market, by Account Type, 2021 & 2030 (USD Billion)
- Figure 10 Market by Service Type
- Figure 11 Europe Neobanking Market, by Service Type, 2021 & 2030 (USD Billion)
- Figure 12 Europe Neobanking Market Assessment, By Countries, 2019-2032 (USD Billion)
- Figure 13 Strategic Analysis - Europe Neobanking Market
