Market Overview:
The global mobile banking market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for mobile banking services from both businesses and personal users. In addition, the growing adoption of smartphones and other mobile devices is also contributing to the growth of this market. The global mobile banking market can be segmented on the basis of type into neo banks and challenger banks. Neo banks are those that offer only digital-based products and services, while challenger banks are traditional retail banks that have launched digital-only products and services in order to compete with neo banks. On the basis of application, the global mobile banking market can be divided into business users and personal users. Business users include small businesses, medium businesses, and large enterprises. Personal users include individual consumers or households. Geographically, the global mobile banking market can be segmented into North America, Latin America, Europe Asia Pacific (APAC),and Middle East & Africa (MEA).
Product Definition:
Mobile Banking is the process of using a mobile device to conduct banking activities. Mobile Banking is important because it allows customers to bank on their own schedule and from wherever they are.
Neo Bank:
Neo bank is a new entrant in the Banking industry. It started its operations from 1st April 2015 and is currently operational in selected regions. Neo bank offers various services such as savings accounts, checking accounts, personal loan, Mortgages (both residential & commercial), Debit/Credit cards and Certificates of Deposit.
Challenger Bank:
Challenger Bank is a financial service provider, which provides retail and commercial banking services. It is the second largest bank in Ireland with total assets of USD 22 billion as of 2016. The bank offers various products such as personal loans, home loans, car finance and credit cards to its customers. In addition to this, it also provides corporate banking services such as factoring & merchant financing for small businesses across the globe.
Application Insights:
The business segment dominated the global mobile banking market in 2017 and is expected to continue its dominance over the forecast period. The growing need for efficient and effective financial services has led to an increase in demand for mobile banking among SMEs, which, in turn, is anticipated to propel growth over the coming years. Furthermore, increasing penetration of smartphones has enabled small businesses to benefit from advanced features such as remote payments and e-commerce transactions through apps installed on tablets or smartphones. This factor is likely to drive growth among smaller enterprises across various regions worldwide.
The personal application segment accounted for a significant share of the overall revenue in 2017 owing to increased usage by individuals globally who are looking forward towards new technology trends that can help them manage their daily lives efficiently without having any interaction with banks or other financial institutions face-to-face.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The increasing number of smartphone users, along with a large population in this region, has boosted the adoption of mobile banking applications. Moreover, growing internet penetration and awareness about online banking are also contributing to market growth in APAC.
North America is estimated to be one of the largest markets for mobile banking owing to high demand for financial services among consumers and small & medium enterprises (SMEs). In addition, technological advancements such as voice-enabled virtual assistants are further boosting industry growth across this region. Latin America is anticipated to witness significant growth over the next eight years due to increasing internet penetration rates coupled with rising smartphone adoption rates in this region will drive industry expansion further.
Europe was another major contributor towards global revenue generation.
Growth Factors:
- Increasing smartphone penetration and internet connectivity across the globe
- Proliferation of low-cost smartphones and tablets
- Rising demand for mobile banking from small businesses and self-employed professionals
- Rapid adoption of cloud-based technologies by banks and financial institutions
- Emergence of new mobile payment platforms that offer enhanced user experience
Scope Of The Report
Report Attributes
Report Details
Report Title
Mobile Banking Market Research Report
By Type
Neo Bank, Challenger Bank
By Application
Business, Personal
By Companies
Atom Bank, Movencorp, Simple Finance Technology, Fidor Group, N26, Pockit, Ubank, Monzo Bank, MyBank (Alibaba Group), Holvi Bank, WeBank (Tencent Holdings Limited), Hello Bank, Koho Bank, Rocket Bank, Soon Banque, Digibank, Timo, Jibun, Jenius, K Bank, Kakao Bank, Starling Bank, Tandem Bank
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
236
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Mobile Banking Market Report Segments:
The global Mobile Banking market is segmented on the basis of:
Types
Neo Bank, Challenger Bank
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Business, Personal
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Atom Bank
- Movencorp
- Simple Finance Technology
- Fidor Group
- N26
- Pockit
- Ubank
- Monzo Bank
- MyBank (Alibaba Group)
- Holvi Bank
- WeBank (Tencent Holdings Limited)
- Hello Bank
- Koho Bank
- Rocket Bank
- Soon Banque
- Digibank
- Timo
- Jibun
- Jenius
- K Bank
- Kakao Bank
- Starling Bank
- Tandem Bank
Highlights of The Mobile Banking Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Neo Bank
- Challenger Bank
- By Application:
- Business
- Personal
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Mobile Banking Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Mobile banking is a type of banking that allows customers to access their accounts and make transactions from a mobile device. Mobile banking can be accessed through apps on smartphones and tablets, or through web browsers.
Some of the key players operating in the mobile banking market are Atom Bank, Movencorp, Simple Finance Technology, Fidor Group, N26, Pockit, Ubank, Monzo Bank, MyBank (Alibaba Group), Holvi Bank, WeBank (Tencent Holdings Limited), Hello Bank, Koho Bank, Rocket Bank, Soon Banque, Digibank, Timo, Jibun, Jenius, K Bank, Kakao Bank, Starling Bank, Tandem Bank.
The mobile banking market is expected to grow at a compound annual growth rate of 16.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Mobile Banking Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Mobile Banking Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Mobile Banking Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Mobile Banking Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Mobile Banking Market Size & Forecast, 2018-2028
4.5.1 Mobile Banking Market Size and Y-o-Y Growth
4.5.2 Mobile Banking Market Absolute $ Opportunity
Chapter 5 Global Mobile Banking Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Mobile Banking Market Size Forecast by Type
5.2.1 Neo Bank
5.2.2 Challenger Bank
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Mobile Banking Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Mobile Banking Market Size Forecast by Applications
6.2.1 Business
6.2.2 Personal
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Mobile Banking Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Mobile Banking Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Mobile Banking Analysis and Forecast
9.1 Introduction
9.2 North America Mobile Banking Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Mobile Banking Market Size Forecast by Type
9.6.1 Neo Bank
9.6.2 Challenger Bank
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Mobile Banking Market Size Forecast by Applications
9.10.1 Business
9.10.2 Personal
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Mobile Banking Analysis and Forecast
10.1 Introduction
10.2 Europe Mobile Banking Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Mobile Banking Market Size Forecast by Type
10.6.1 Neo Bank
10.6.2 Challenger Bank
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Mobile Banking Market Size Forecast by Applications
10.10.1 Business
10.10.2 Personal
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Mobile Banking Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Mobile Banking Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Mobile Banking Market Size Forecast by Type
11.6.1 Neo Bank
11.6.2 Challenger Bank
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Mobile Banking Market Size Forecast by Applications
11.10.1 Business
11.10.2 Personal
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Mobile Banking Analysis and Forecast
12.1 Introduction
12.2 Latin America Mobile Banking Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Mobile Banking Market Size Forecast by Type
12.6.1 Neo Bank
12.6.2 Challenger Bank
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Mobile Banking Market Size Forecast by Applications
12.10.1 Business
12.10.2 Personal
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Mobile Banking Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Mobile Banking Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Mobile Banking Market Size Forecast by Type
13.6.1 Neo Bank
13.6.2 Challenger Bank
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Mobile Banking Market Size Forecast by Applications
13.10.1 Business
13.10.2 Personal
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Mobile Banking Market: Competitive Dashboard
14.2 Global Mobile Banking Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Atom Bank
14.3.2 Movencorp
14.3.3 Simple Finance Technology
14.3.4 Fidor Group
14.3.5 N26
14.3.6 Pockit
14.3.7 Ubank
14.3.8 Monzo Bank
14.3.9 MyBank (Alibaba Group)
14.3.10 Holvi Bank
14.3.11 WeBank (Tencent Holdings Limited)
14.3.12 Hello Bank
14.3.13 Koho Bank
14.3.14 Rocket Bank
14.3.15 Soon Banque
14.3.16 Digibank
14.3.17 Timo
14.3.18 Jibun
14.3.19 Jenius
14.3.20 K Bank
14.3.21 Kakao Bank
14.3.22 Starling Bank
14.3.23 Tandem Bank
