Competitive Market Growth, Size, Share and Forecast to 2027 for Mobile Banking Software Market, By Banking Type (Corporate/ Universal, Retail/ SME); By Deployment (Hosted (On Cloud), Licensed); By End Use (Banks, Non-Banking Financial Company (NBFC), Credit Unions, Others);
The Mobile Banking Software Market will reach US$ 22,293.0 Mn by 2027 at a CAGR of 8.00% , according to the Absolute Markets Insights Comprehensive Research Report titled Mobile Banking Software Market
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Global mobile banking software market is valued at US$ 12,000 Mn in 2019 and is forecast to grow at a CAGR of 8.0% to reach US$ 22,293.0 Mn by 2027. Financial institutions across the globe are increasingly adopting digital banking solutions thus creating a high demand for adoption of mobile banking software technology in banking sector worldwide. Coronavirus or COVID-19 outbreak has affected the world, disrupting economies and taking a death toll of more than 300,000 people till May 2020. Governments have forced a total shutdown to contain the spread of coronavirus which has also affected banking and finance sector. Digital banking solutions including mobile banking has witnessed notably a high growth in this crisis. Banks and governments across continents are encouraging customers to opt for mobile banking. For instance, Ghana’s central bank waived additional documentation hassle for daily transfer of up to US$ 170 from a customer’s mobile wallets. Such initiatives and many other have encouraged the use of mobile banking among consumers leading to banks and other financial institutions to opt for mobile banking software. Thus globally, government and non-government initiatives to cope with COVID-19 crisis have fuelled the growth of mobile banking software market.
Rapid industrialization and advanced technologies including 3D printing, robotics, others electronics manufacturing among others have enabled production of smart phones at lower cost, thus increasing the penetration of smartphones across the globe. For instance, in 2019 more than 5 billion people had mobile devices and half of these devices are smartphones. Thus growing internet connectivity across the globe has supplemented this factor, thus fast pacing the digital revolution. Rise in smartphone users with access to internet is transforming the lifestyle of humans and their daily activities. This has led to increase in adoption of digital banking and payments thus creating rise in need of mobile banking software. Digital transformation coupled with changing lifestyle is anticipated to boost global mobile banking software market over the forecast period.
A number of factors affect the term Mobile Banking Software Market including forward/backward integration, economies of scale, the proportion of various distribution channels, factors influencing consumer behavior, such as brand loyalty, price, and accessibility of the product, capital investments, the regulatory environment, production rights and patents, marketing strategies, and other customer preferences. This information will probably be useful to the industry’s stakeholders, and it might even spur them on to action.
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Mobile Banking Software Market Competitive Landscape:
The prominent companies in the Mobile Banking Software Market are:
Access Softek, Apex Banking Software, Bankingly, Capital Banking Solutions, Comarch SA, Dais Software Ltd, EBANQ FINTECH SL, Fiserv, Infosys Limited, Kapowai, Nelito Systems Ltd., PureSoftware, SAB2I, ScienceSoft USA Corporation, Software Group, Tata Consultancy Services Limited, Temenos Headquarters SA and Tvisha Technologies Pvt Ltd. amongst other
Impact of COVID-19:
The consumer behavior, demand shifts, shopping trends, supply chain restructuring, market forces dynamics, and major government participation are all discussed in this article. More details, analyses, projections, and estimations of the market effects of COVID-19 are provided in the new report.
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- The 405+ page, fully updated publications offer a thorough explanation of the COVID-19 virus and pandemic. By utilizing market research data from the industry and interviews with subject-matter experts, you may learn more about topics like regional impact analysis, global prediction, competitive landscape analysis, and size & share of regional markets.
- The free sample contains details on the market’s dimensions, major participants, profitability analysis, SWOT analysis, historical and forecast statistics, growth Porter’s Five Forces analysis, revenue estimates, industry trends, and financial ratios. The study also contains in-depth analyses of the key factors impacting the market’s growth along with assessments from Absolute Market Insights for various nations and regions.
- The Sample Report provides readers with a competitive edge by giving more details on the major market players, including their sales volume, company strategy, and revenue analysis.
Key Benefits of Global Mobile Banking Software Market Report:
- As part of the investigation into worldwide Mobile Banking Software Market patterns, a lot of time has been spent looking at both the present and the future.
The Global Mobile Banking Software Market Growth Research Report provides in-depth information on the Market Introduction, Market Summary, Global Market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, and Regional and National levels.
Finding business opportunities may be aided by researching worldwide Mobile Banking Software Market trends.
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Mobile Banking Software Market Regional Insights
Asia Pacific is contributing a significant share in the global mobile banking software market owing to high rate adoption among the growing corporates and urban workforce. For instance, in 2018 digital lending in India was US$ 75.0 Billion and in People’s Bank of China handled digital payments of US$ 530.0 Trillion in 2016. These factors have contributed towards high adoption of mobile banking software by banking and financial institutions in Asia Pacific region. Corporate banking is growing in North America, thus the banking and financial institutions are catering this growth through mobile banking solutions. This growing trend of corporate banking has led banks to develop mobile banking solutions to cater them and is thus anticipated to contribute towards share of this region in global mobile banking software market. The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.
The report provides a comprehensive examination of a number of factors, including the distribution of the Mobile Banking Software Market in significant geographic areas. North America, Europe, Asia-Pacific, and Latin America are the key geographical emphasis areas of the study.
Why the Mobile Banking Software Market Report is Beneficial?
- The Mobile Banking Software Market study was constructed using a comprehensive and modern research approach.
- The study contains a large amount of data on the most current technological and product advancements in the Mobile Banking Software Market and offers a complete analysis of the market competition for the Mobile Banking Software Market.
- The numerous evaluations of how these upgrades may affect the ongoing growth of Mobile Banking Software Market
In the research report for the Mobile Banking Software Market study, extensive historical data and analysis are presented.
- The graphical data representations used in the Mobile Banking Software Market report, such as bar graphs, statistics, pie charts, etc., make the report’s insights obvious and simple to comprehend.
Mobile Banking Software Market Segmentation:
The Mobile Banking Software Market market has been divided into a number of categories depending on the product’s composition and intended application. Each market segment’s growth rate and market share are evaluated. The specialists have also looked into potential places where the producers can profit in the years to come. Participants in the market are better able to comprehend the entire industry thanks to the precise volume and value estimates offered by the geography analysis.
Global Mobile Banking Software Market:
By Banking Type
- Corporate/ Universal
- Retail/ SME (small and medium-sized enterprises)
- Hosted (on Cloud)
By End Use
- Non-Banking Financial Company (NBFC)
- Credit Unions
Global Mobile Banking Software Market by Region Mobile Banking Software Market
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
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