Mobile Banking Market to Generate $1.82 Billion, Globally, by 2026 at 12.2% CAGR: Allied Market Research

20 Jan
Mobile Banking Market

Technological advancements, surge in consumer acceptance, and significant increase in smartphone usage drive the growth of the global mobile banking market

PORTLAND, Oregon, Jan. 20, 2020 /PRNewswire/ — Allied Market Research published a report, titled, “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.” According to the report, the global mobile banking market garnered $715.3 million in 2018, and is estimated to reach $1.82 billion by 2026, growing at a CAGR of 12.2% from 2019 to 2026.

Prime determinants of growth

Technological advancements, surge in consumer acceptance, and significant increase in smartphone usage drive the growth of the global mobile banking market. However, rise in concerns related to security and privacy along with improper connectivity and network infrastructure restrain the market growth. On the other hand, integration of new technologies creates new opportunities in the market.

Download Sample Report: https://www.alliedmarketresearch.com/request-sample/233

Consumer to business (C2B) segment to continue its dominant position by 2026

Based on transactions, the consumer to business (C2B) segment held nearly three-fourths of the total share of the global mobile banking market in 2018, and is estimated to continue its dominant position throughout the forecast period. Moreover, this segment is expected to register the highest CAGR of 12.4% from 2019 to 2026. This is due to customers’ adoption for mobile banking on a daily basis for different purchases carried out online, payment of equated monthly installment (EMI), and other transactions. The research also analyzes the consumer to consumer (C2C) segment.

Android segment to maintain its lead in terms of revenue during the forecast period

On the basis of platforms, the android segment held the highest market share in the global mobile banking market in 2018, accounting for nearly three-fourths of the total share, and will continue to maintain its lead in terms of revenue during the forecast period. This is attributed to the developing economies that are at the forefront in the adoption of android platform, which in turn, made banks to focus more on offering mobile banking services. However, the iOS segment is estimated to register the fastest CAGR of 12.7% from 2019 to 2026, owing to financial institutions being highly capable of meeting continuous requirements and demands of their customers through mobile applications.

North America to maintain its dominance during the forecast period

Based on region, North America contributed to the highest market share in terms of revenue, contributing to nearly half of the global mobile banking market in 2018, and is expected to maintain its dominance during the forecast period. This is due to investment of banks in advanced technologies in a large scale along with enhanced product portfolio. However, Asia-Pacific is expected to register the highest growth rate with a CAGR of 16.0% from 2019 to 2026, owing to development of digital banking, rise in internet usage, and implementation of next generation mobile technologies.

Make Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/233

Leading market players

  • American Express Company
  • Bank of America Corporation
  • BNP Paribas S.A.
  • Citigroup Inc.
  • Crédit Agricole Group
  • HSBC Holdings plc
  • JPMorgan Chase & Co.
  • Mitsubishi UFJ Financial Group, Inc.
  • Société Générale S.A.
  • Wells Fargo & Company

Access AVENUE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/Avenue-Membership-details

Avenue, a user-based library of global market report database, provides comprehensive reports pertaining to the world’s largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Similar Studies:

Online Banking Market Expected to Reach $29,976 Million by 2023

Cyber Insurance Market to Reach $14 Billion, Globally, by 2022

Vietnam Mobile Payment Market Expected to Reach $70,937 Million by 2025

Global Trade Finance Market Expected to Reach $56,065.6 Million by 2026

Armenia Banking Market Expected to Reach $996 Million by 2026

Pre-Book Now with 12% Discount:

Open Banking Market – Global Opportunity Analysis and Industry Forecast, 2020-2027

Retail Banking Market – Global Opportunity Analysis and Industry Forecast, 2020-2027

Banking Service Market – Global Opportunity Analysis and Industry Forecast, 2020-2027

Neobanking Market – Global Opportunity Analysis and Industry Forecast, 2020-2027

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Mobile Banking Market Image by Gerd Altmann from Pixabay

Tags: ,

No comments yet.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.