Mobile Banking Market Size is Projected to Reach USD 1,824.7 Million by 2026 at CAGR 12.2% | Valuates Reports

USA - English

• India - English

BANGALORE, India, Feb. 24, 2021 /PRNewswire/ -- Mobile Banking Market is Segmented by Type (Consumer to Consumer, Consumer to Business), by Application (Android, iOS, Others): Global Opportunity Analysis and Industry Forecast, 2021-2026. This report is published on Valuates Reports in the Banking Category.

The global mobile banking market was valued at USD 715.3 Million in 2018 and is expected to reach USD 1,824.7 Million by 2026, registering a CAGR of 12.2% from 2019 to 2026.

Major factors driving the growth of mobile banking market size are:

• Increasing in smartphone penetration
• Increase in demand for self-service and personalization on products and services
• Technological advancements in mobile banking 

Request a Sample Copy of the Report For COVID-19 Impact Analysis on Mobile Banking Market: https://reports.valuates.com/request/sample/QYRE-Othe-1E434/Mobile_Banking_Market 

TRENDS INFLUENCING MOBILE BANKING MARKET SIZE

An increase in the number of smartphone users is expected to increase the growth of the mobile banking market size. The rising number of smartphone users has created the need for banks to shift their attention to mobile consumer transactions. By offering mobile banking, banks make it easy for customers to perform transactions, offering banks the ability to gain a competitive advantage over others and position themselves in the market better.

The growth of the mobile banking market size industry is fueled by a rise in demand for self-service and personalization of goods and services. In addition, technological developments in mobile banking, such as the provision of personalized real-time customer service through smart bots, the increase in mobile device use that enables users to receive immediate customer support, drive market development.

The convenience offered by mobile banking is increasing its adoption, thereby increasing the mobile banking market size. Customers use mobile banking mainly to transfer funds on a daily basis for various online transactions, paying the corresponding monthly installment (EMI) and other financial remittances in their daily lives. Furthermore, mobile banking provides convenient and timely services to complete financial transactions through a mobile banking application, enhancing self-service banking.

However, connectivity and network infrastructure are an obstacle to user base growth. Poor network connectivity results in poor user experience, calling for an emphasis on improving overall experience through needed investment in the development of reliable but scalable apps, technology platforms, and applications.

View Report Details Before Purchasing: https://reports.valuates.com/market-reports/QYRE-Othe-1E434/mobile-banking 

MOBILE BANKING MARKET SHARE ANALYSIS

Based on the platform, the android segment is expected to hold the largest mobile banking market share during the forecast period.

This is due to the fact that the developing economies are at the forefront in the usage of the android platform usage, resulting in banks concentrating more on providing mobile banking services on this platform. In addition, creative finance applications are helping to bring people into the formal banking field, providing a forum for accessing various banking products and services, reducing queuing times, and providing access through Android applications to personal banking information.

In terms of sales, North America and Europe dominated the mobile banking industry in 2018 and are predicted to continue their dominance over the forecast period. Because of the advent of new-age FinTech technology, banks are investing in updating their mobile banking apps to provide their customers with personalized product offers, better customer service, and convenience.

During the forecast period, Asia-Pacific is expected to rise at the highest CAGR. Growth is being driven by increased digital banking channels and the region's strong economic growth.

By Region:

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• France
• UK
• Rest of Europe
• Asia-Pacific
• Australia
• Japan
• India
• China
• Rest of Asia-Pacific
• LAMEA
• Latin America
• Middle East
• Africa
• Rest of LAMEA

Inquire for Regional Data: https://reports.valuates.com/request/regional/QYRE-Othe-1E434/Mobile_Banking_Market 

MOBILE BANKING MARKET SEGMENTATION

By Transaction

• Consumer-to-consumer
• Consumer-to-business.

 By Platform

• Android
• iOS
• Others

Buy Now for Single User: https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Othe-1E434&lic=single-user 

Buy Now for Enterprise User: https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Othe-1E434&lic=enterprise-license 

SUBSCRIPTION

We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.

SIMILAR REPORTS :

-  Mobile Banking Software Solution Market is Segmented by Type Cloud, On-Premises, by Application Banking Institutions, Credit Unions, Financial Institutions and by various regions.

-  Mobile Digital Banking Market is Segmented by Type BaaS (Banking as a Service), BaaP (Banking as a Platform), Cloud-Based, by Application Retail Digital Banking, SME Digital Banking, Corporate Digital Banking and by various regions.

-  Mobile Wallet Market size was valued at USD 1,043.1 Billion in 2019, and is projected to reach USD 7,580.1 Billion by 2027, growing at a CAGR of 28.2% from 2020 to 2027.

-  Digital Banking Market size is projected to reach USD 25840 Million by 2026, from USD 7646 Million in 2019, at a CAGR of 19.0% during 2021-2026. This study focuses on global digital banking status, future projections, prospects for growth, key markets, and key players. The study aims to present Digital Banking's development in the United States, Europe, and China. 

-  Online Payments Services Market is Segmented by Type Type I, Type II, by Application Online Payment, Mobile Payment, Bitcoin Payment, Others and by various regions.

-  Digital Banking Platform & Services Market size is expected to grow from USD 3,908.62 Million in 2019 to USD 6,999.79 Million by the end of 2025 at a CAGR of 10.19%.

Click Here To See More Related Reports On Mobile Banking Market

ABOUT US:

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.

CONTACT US:

Valuates Reports
[email protected]
For U.S. Toll-Free Call  1-(315)-215-3225
For IST Call  +91-8040957137
WhatsApp : +91 9945648335
Website: https://reports.valuates.com 
Twitter - https://twitter.com/valuatesreports 
Linkedin - https://in.linkedin.com/company/valuatesreports 
Facebook - https://www.facebook.com/valuatesreports

SOURCE Valuates Reports