Mobile Banking Market Development Strategy and Future Prospects 2023

Mobile Banking Market, By Solution (Customer Management, Mobile Banking Market Features, Mobile Payment Features), By Technology (Wireless Application Protocol, Standalone Mobile Application), By Deployment (On-Cloud, On-Premise), - Global Forecast 2023

Market Synopsis:

As per Market Research Future (MRFR)’s analysis, the global mobile banking market is set to expand at a moderate CAGR during the forecast period. Mobile banking services are widely accepted by the customers all across the world owing to the convenience offered. It also ensures the completion of a transaction in minimum time that would take hours otherwise. Banks are capitalizing on internet services for leveraging their schemes and attracting larger customer bases. This, in turn, is anticipated to revolutionize the growth trajectory of the Mobile Banking Market.

With the advancements in the internet technology and expansion of its access, the banking industry is also catching up with the developments. Nowadays, banks are endeavoring to make all the banking facilities available from door to door for gaining a competitive edge over competitors. The large-scale market presence of smartphones is further expected to support the vision, thus, augmenting the mobile banking market.

Governments all over the world are emphasizing on the promotion of the cashless economy to check evasion of taxes. This is presumed to support the development of the mobile banking market over the next couple of years. Furthermore, the deeply rooted penetration of smartphones into the lives of the global population belonging to all age groups is supposed to have a positive influence on the growth of the market.

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Key Players

The prominent players in the Mobile Banking Market are –  Temenos Group AG (Switzerland), Nymbus Inc. (U.S.), Neptune Software PLC (U.K.), Strands Inc. (U.S.), Capital Banking Solutions (U.S.), Dais Software Company (Bulgaria), Ebanq B.V (Netherlands), Apex Software Ltd. (Kenya), Fisa System (U.S.), among others.

Global Mobile Banking Market Segmentation

Globally, the market for mobile baking has been segmented on the basis of technology, solution, and deployment.

The market has been segmented into mobile banking features, mobile payment features, customer management, and mobile trading features, based on solution. Mobile banking features comprise fund transfer, transfer of money using email address or mobile number, alert services, recent transactions information, and balance inquiry. A customer can know about his account balance and other details by simply giving a missed call from the registered mobile number. With the penetration of smartphones and rapid use of internet, the use of mobile banking is expected to spur in the coming years.

The market has been segmented into wireless application protocol (WAP) and standalone application based on technology. India Bank offers WAP mobile banking to offer more flexibility to the customers to access their bank accounts without having to visit the bank. Customers having enable GPRS facility on their handset can access their account through WAP-based mobile banking. HSBC has launched standalone open banking app, called Connected Money which allows customers to view their accounts on a single screen.

The market has been further segmented into on-cloud and on-premise based on deployment.

Regional Analysis

Geographically, the market for mobile banking has been spanned across regions such as North America, Europe, Asia Pacific, Europe, and Rest-of-the-World. Among these regions, North America has been anticipated to hold the largest market share owing to the increasing demand for adopting mobile banking through smartphones. Customers use mobile channels to interact with banks right from their smartphones.

Europe is also expected to emerge as the fastest growing market owing to the faster transactions and mobile payments done by the banks, thus leading to increase in the adoption of mobile banking by the Europeans.

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TABLE OF CONTENTS

LIST OF FIGURES

Figure 1 Research Type

Figure 2 Mobile Banking Market: By Solution (%)

Figure 3 Mobile Banking Market: By Technology (%)

Figure 4 Mobile Banking Market: By Deployment (%)

Figure 5 Mobile Banking Market: By Region

Figure 6 North America Mobile Banking Market, By Solution (%)

Figure 7 North America Mobile Banking Market, By Technology (%)

Figure 8 North America Mobile Banking Market, By Deployment (%)

Figure 9 Europe Mobile Banking Market, By Solution (%)

Figure 10 Europe Mobile Banking Market, By Technology (%)

Continued…

Know More about this Report @ https://www.marketwatch.com/press-release/mobile-banking-market-2018-global-size-share-research-methodology-growth-factors-emerging-trends-key-players-analysis-and-regional-forecast-to-2023-2018-10-12

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