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Global Mobile Banking Market Size, Share, Trends, Forecast: By Type: SMS Banking, Wireless Application Protocol (WAP), Unstructured Supplementary Service Data (USSD); By Service: Transaction, Account Information, Investments, Others; By Platform; By Mode of Deployment; Regional Analysis; Competitive Landscape; 2024-2032
Global Mobile Banking Market Outlook
The global mobile banking market size is projected to grow at a CAGR of 13.4% between 2024 and 2032. The major market drivers include increasing penetration of smartphones and internet and rising emergence and adoption of novel FinTech technologies.
Key Trends in the Market
Mobile banking refers to services that allow customers to perform various banking tasks including paying bills, transferring money, and checking account balances through devices such as iPads, tablets, and mobile phones. The various advantages associated with mobile banking include efficient document sharing, decreased infrastructure costs, and increased accessibility.
- The increasing penetration of smartphones and internet is aiding the mobile banking market growth. The convenience offered by the service including rapid transfer of money, bill payment, and checking of balance is bolstering its utilisation in various regions across the globe.
- The presence of use friendly interface and real time customer support is boosting the market expansion. The integration of mobile banking with advanced technologies including wireless application protocol and chatbots enhances the banking experience for the customers.
- The availability of advanced security measures and systems to protect the sensitive information and funds of the customer are bolstering their confidence in mobile banking services. For instance, the multi-factor authentication system involves two different types of verification processes, the dual step process provides additional protection to the digital bank account.
Global Mobile Banking Market Analysis
On the basis of type, the market is divided into SMS banking, wireless application protocol (WAP), and unstructured supplementary service data (USSD). Based on service, the market is classified into transaction, account information, investments, and support services, among others.
On the basis of platform, the market is segregated into android and IOS, among others. Based on mode of deployment, the market is bifurcated into cloud and on-premises. On the basis of region, the mobile banking market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Bank of America Corporation
- American Express Company
- JPMorgan Chase & Co.
- Barclays PLC
- Citigroup Inc.
- BNP Paribas SA
- Standard Chartered Group
- Mitsubishi UFJ Financial Group Inc.
- Wells Fargo & Co.
- HSBC Holdings plc
- Credit Agricole SA
- Others
Market Share by Platform
Android is anticipated to account for a significant mobile banking market share. This growth can be attributed to the increasing concentration of the banks to provide services on this platform owing to the utilisation of the platform by the vast majority of the population in the developing countries. The relatively cost-efficient nature and provision of more storage options in android phones is boosting their utilisation and supporting the segment growth.
Market Share by Region
North America is expected to witness significant growth over the forecast period. This growth can be attributed to the emergence and adoption of novel FinTech technologies. The provision of customised product offerings to enhance customer experience is bolstering the mobile banking market demand. The convenience and security offered by the service due to the presence of biometric identification via fingerprint or face recognition and two-factor authentication is increasing the popularity of mobile banking in North America.
Competitive Landscape
Bank of America Corporation, headquartered in North Carolina, United States, is a financial service holding company and multinational investment bank that provides a wide range of asset management, banking, risk management, and other financial products and services.
American Express Company, headquartered in New York, United States, is a multinational financial service corporation that was founded in 1850. The company specialises in corporate cards, business travel, merchant and network services, and mobile banking, among others.
JPMorgan Chase & Co. is a multinational financial services firm that specialises in commercial banking, asset management, private banking, and mobile banking, among others. The company was founded in 2000 and is headquartered in New York, United States.
Other mobile banking market key players include Barclays PLC, Citigroup Inc., BNP Paribas SA, Standard Chartered Group, Mitsubishi UFJ Financial Group Inc., Wells Fargo & Co., HSBC Holdings plc, and Credit Agricole SA, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Service |
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| Breakup by Platform |
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| Breakup by Mode of Deployment |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Mobile Banking Market Analysis
8.1 Key Industry Highlights
8.2 Global Mobile Banking Historical Market (2018-2023)
8.3 Global Mobile Banking Market Forecast (2024-2032)
8.4 Global Mobile Banking Market by Type
8.4.1 SMS Banking
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Wireless Application Protocol (WAP)
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Unstructured Supplementary Service Data (USSD)
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Mobile Banking Market by Service
8.5.1 Transaction
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Account Information
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Investments
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Support Services
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Others
8.6 Global Mobile Banking Market by Platform
8.6.1 Android
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 IOS
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Others
8.7 Global Mobile Banking Market by Mode of Deployment
8.7.1 Cloud
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 On-premises
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.8 Global Mobile Banking Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Mobile Banking Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Mobile Banking Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Mobile Banking Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Mobile Banking Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Mobile Banking Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profile
15.2.1 Bank of America Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 American Express Company
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 JPMorgan Chase & Co.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Barclays PLC
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Citigroup Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 BNP Paribas SA
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Standard Chartered Group
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Mitsubishi UFJ Financial Group Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Wells Fargo & Co.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 HSBC Holdings plc
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Credit Agricole SA
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Mobile Banking Market: Key Industry Highlights, 2018 and 2032
2. Global Mobile Banking Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Mobile Banking Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Mobile Banking Historical Market: Breakup by Service (USD Million), 2018-2023
5. Global Mobile Banking Market Forecast: Breakup by Service (USD Million), 2024-2032
6. Global Mobile Banking Historical Market: Breakup by Platform (USD Million), 2018-2023
7. Global Mobile Banking Market Forecast: Breakup by Platform (USD Million), 2024-2032
8. Global Mobile Banking Historical Market: Breakup by Mode of Deployment (USD Million), 2018-2023
9. Global Mobile Banking Market Forecast: Breakup by Mode of Deployment (USD Million), 2024-2032
10. Global Mobile Banking Historical Market: Breakup by Region (USD Million), 2018-2023
11. Global Mobile Banking Market Forecast: Breakup by Region (USD Million), 2024-2032
12. North America Mobile Banking Historical Market: Breakup by Country (USD Million), 2018-2023
13. North America Mobile Banking Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Europe Mobile Banking Historical Market: Breakup by Country (USD Million), 2018-2023
15. Europe Mobile Banking Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Asia Pacific Mobile Banking Historical Market: Breakup by Country (USD Million), 2018-2023
17. Asia Pacific Mobile Banking Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Latin America Mobile Banking Historical Market: Breakup by Country (USD Million), 2018-2023
19. Latin America Mobile Banking Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Middle East and Africa Mobile Banking Historical Market: Breakup by Country (USD Million), 2018-2023
21. Middle East and Africa Mobile Banking Market Forecast: Breakup by Country (USD Million), 2024-2032
22. Global Mobile Banking Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 13.4% between 2024 and 2032.
The major market drivers include increasing penetration of smartphones and internet and rising emergence and adoption of novel FinTech technologies.
The key trends fuelling the growth of the market include presence of use friendly interface and real time customer support and provision of advanced security systems for protecting sensitive banking information.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The different modes of deployment include cloud and on-premises.
The major services include transaction, account information, investments, and support services, among others.
The significant platforms include android and IOS, among others.
The key players in the market are Bank of America Corporation, American Express Company, JPMorgan Chase & Co., Barclays PLC, Citigroup Inc., BNP Paribas SA, Standard Chartered Group, Mitsubishi UFJ Financial Group Inc., Wells Fargo & Co., HSBC Holdings plc, and Credit Agricole SA, among others.
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