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Mobile Banking Market to Reach $7 billion, Globally, by 2032 at 16.8% CAGR: Allied Market Research
Growth in awareness about personal finance management, increase in demand for convenient banking services, and integration of advanced technologies contribute towards the growth of the market.
WILMINGTON, Del., Nov. 23, 2023 /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, 2022-2032″. According to the report, the global mobile banking industry generated $1.5 billion in 2022, and is anticipated to generate $7 billion by 2032, witnessing a CAGR of 16.8% from 2023 to 2032.
(We are providing report as per your research requirement, including the Latest Industry Insight’s Evolution, Potential and COVID-19 Impact Analysis)
100 – Tables
63 – Charts
319 – Pages
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Prime determinants of growth
The increase in demand for personalization on products & services and instant self-service assistance via mobile application propel the growth of the mobile banking market. However, lack of proper connectivity and unavailability of network infrastructure in developing countries for integrating mobile banking usage, are some of the factors that limit the mobile banking market growth. Conversely, utilization of chatbots, blockchain, and other services is expected to improve consumer engagements which fuel the growth of the market.
Report coverage & details:
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Report Coverage |
Details |
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Forecast Period |
2023–2032 |
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Base Year |
2022 |
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Market Size in 2022 |
$1.5 billion |
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Market Size in 2032 |
$7 billion |
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CAGR |
16.8 % |
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No. of Pages in Report |
319 |
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Segments covered |
Transaction, Platform, and Region. |
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Drivers |
Increased smartphone penetration Increase in demand for convenient banking services Growth in awareness about personal finance management |
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Opportunities |
Integration of advanced technologies The emergence of fintech startups |
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Restraints |
Rise in security and privacy concerns |
COVID-19 Scenario
- The pandemic accelerated the adoption of mobile banking services. As physical bank branches closed or operated with restrictions, consumers turned to their smartphones for their banking needs. The convenience and safety of mobile banking apps became more apparent, and people increasingly relied on them for everything from checking balances to making transactions. Moreover, the fear of handling physical cash and the need for contactless payments led to a surge in mobile wallet and contactless payment usage.
- Overall, Mobile banking apps integrated with mobile wallets and made it seamless for users to pay for goods and services without using cash or cards. Furthermore, the increase in digital transactions prompted the development of advanced cybersecurity measures and fraud prevention mechanisms within mobile banking apps, ensuring the safety of online transactions. Therefore, the COVID-19 pandemic had a positive impact on the mobile banking market.
The consumer-to-business segment to maintain its leadership status throughout the forecast period
By transaction, the consumer-to-business segment held the highest market share in 2022, accounting for more than three-fourth of the global mobile banking market revenue, owing to the fact that the customers are primarily using mobile banking for transferring money on a daily basis for various purchases made online, paying equated monthly instalment (EMI), and other such financial transactions in their day-to-day life. However, the consumer-to-consumer segment is projected to manifest the highest CAGR of 20.4% from 2023 to 2032. This is attributed to the widespread adoption of smartphones, the development of user-friendly applications, and a broader trend towards decentralization in the financial landscape.
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The Android segment to maintain its leadership status throughout the forecast period
By platform, the android segment held the highest market share in 2022, accounting for two-thirds of the global mobile banking market revenue and is estimated to maintain its leadership status throughout the forecast period. This is owing to the fact that developing economies are at the forefront in the usage of android platform, resulting in banks concentrating more on providing mobile banking services on this platform, becoming a major mobile banking market trend. However, the iOS segment is projected to manifest the highest CAGR of 20.2% from 2023 to 2032. This is due to the fact that iOS mobile banking apps are leveraging voice-activated AI, such as Siri, to offer users voice-assisted banking services, allowing them to perform transactions, check balances, and get information through voice commands.
North America to maintain its dominance by 2032
By region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global mobile banking revenue, owing to the fact that North American mobile banking apps are increasingly incorporating biometric authentication methods, such as fingerprint recognition and facial recognition. However, the Asia-Pacific region is expected to witness the fastest CAGR of 20.0% from 2023 to 2032, and is likely to dominate the market during the forecast period. This is due to then development of digital banking, increase in usage of internet, implementation of next generation payment technologies such as UPI, and a robust economy driving strong mobile banking industry growth in the region.
Leading Market Players: –
- American Express Company
- Bank of America Corporation
- BNP Paribas
- Capital One
- Citigroup Inc.
- JPMorgan Chase & Co.
- Mitsubishi UFJ Financial Group, Inc.
- UBS
- HSBC Holdings plc
- Wells Fargo & Company
The report provides a detailed analysis of these key players of the global mobile banking market. These players have adopted different strategies such as partnership, product launch, and expansion to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key benefits for stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the mobile banking market forecast from 2022 to 2032 to identify the prevailing market opportunities.
- Market research is offered along with information related to key drivers, restraints, and opportunities of mobile banking market outlook.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the mobile banking market segmentation assists in determining the prevailing mobile banking market opportunity.
- Major countries in each region are mapped according to their revenue contribution to the global mobile banking market.Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
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Mobile Banking Market Report Highlights
Aspects Details Market
By Transaction
- Consumer-to-business
- Consumer-to-consumer
By Platform
- Android
- iOS
- Others
By Region
- North America (U.S., Canada)
- Europe (UK, Germany, France, Itlay, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Rest of Latin America, Rest of Middle East, Central African Republic)
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” 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.
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STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
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Invitation to presentation of EQT AB’s Q1 Announcement 2024 |
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- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
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- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
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