IoT in Banking and Financial Services Market to Grow by $ 7.63 Million through
2022-2026
Cisco Systems Inc., Huawei Investment and Holding Co. Ltd., Infosys Ltd. are some of the key vendors
The Global Iot in Banking and financial services market is likely to grow by $ 7.63 million, accelerating at a CAGR of 7.91% till 2026. Several factors such as disintermediation of banking services will drive market growth. A diverse range of electronic technologies has created led to the creation of several payment options, such as bitcoins (virtual currency) and Amazon coins. In addition, customers are using social network platforms to search, share, and validate alternative resources to traditional financing. This had created an environment for new forms of online financial solutions. These trends have led to the disintermediation of traditional banking services. This will expedite the adoption of IoT technologies and digital wallets leading to the growth of the market during the forecast period.
This research report lists all the growth drivers that are likely to boost market growth along with a detailed analysis of the market segments, trends and challenges that are likely to impact market growth. The goal of this research report is to furnish clients with insights that will help them leverage growth opportunities to implement business growth.
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IoT in Banking and Financial Services Market: Segments and Geographical Regions
- This report segments the market Component (solutions and services) and Geography (North America, Europe, APAC, MEA, and South America). Market growth by the solutions segment will be significant during the forecast period. IoT solutions are helping to digitize the banking sector, and customers expect highly innovative solutions from their banks.
- 34% of the market growth will originate from North America during the forecast period. The US is a key market for IoT in Banking and financial services in North America. Market growth in this region will be faster than the growth of the market in South America.
- This research report will provide insights into the current market share of each segment along with growth projections for the next five years. Request our Free Sample Report
IoT in Banking and Financial Services Market: Vendor Analysis
- The market is fragmented due to the presence of several players.
- The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
- Cisco Systems Inc., Huawei Investment and Holding Co. Ltd., Infosys Ltd., Intel Corp., International Business Machines Corp., Microsoft Corp., Oracle Corp., SAP SE, Schneider Electric SE, and Vodafone Group Plc are some of the major market participants.
Market Segmentation by Component
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- IoT in Banking and Financial Services Market Split by Component
- IoT in Banking and Financial Services Market Split by Geography
- North America
- Europe
- APAC
- MEA
- South America
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Competitive scenario
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Cisco Systems Inc.
- Huawei Investment and Holding Co. Ltd.
- Infosys Ltd.
- Intel Corp.
- International Business Machines Corp.
- Microsoft Corp.
- Oracle Corp.
- SAP SE
- Schneider Electric SE
- Vodafone Group Plc
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The report provides insights into the following FAQs:
- What is the market CAGR?
The market will accelerate at a CAGR of 7.91%.
- What is the incremental growth of the market?
The market is expected to grow by $ 7.63 mn through 2022-2026.
- What is a key factor driving this market?
Disintermediation of banking services will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
North America, Europe, APAC, MEA, and South America are the key regions featured in this research report.
- Which is the leading geographic region for this market:
34% growth will originate from North America
- Who are the leading market vendors?
The leading vendors in this market are Cisco Systems Inc., Huawei Investment and Holding Co. Ltd., Infosys Ltd., Intel Corp., International Business Machines Corp., Microsoft Corp., Oracle Corp., SAP SE, Schneider Electric SE, and Vodafone Group Plc
- What are the market segments covered in this report?
The market is segmented by Component (solutions and services) and Geography (North America, Europe, APAC, MEA, and South America)
