According to SPER Market Research, the IoT in Banking and Financial Services Market is most closely associated with products that support the concept of the “smart home” in the consumer market, such as lighting fixtures, thermostats, home security systems, cameras, and other home appliances that can be controlled by devices associated with that ecosystem, such as smartphones and smart speakers. The market’s growth drivers increasing the Use of IoT Devices for Connected Banking, as well as the Convergence of Operational and Information Technology. Connected devices enable financial institutions to provide unified and real-time banking solutions to their customers’ financial needs. These Internet of Things (IoT)-enabled connected banking solutions will assist banks in better meeting the needs of their customers by utilising information gathered from a variety of smart devices to help customers make sound financial decisions. Banks can also provide value-added services, financial assistance, and customised products to individual customers with the help of readily available customer data.
COVID-19 has had an impact on the overall market and the growth rate in 2019-2020 as the effect of COVID-19 spreads. Our most recent research, perspectives, and insights on the management issues that matter most to businesses and organisations about the market, which is leading through the COVID-19 crisis to risk management and digitising operations to deliver trusted information and experiences to decision makers.
Forecast CAGR (2022-2032): 52.35%.
Forecast Market Size (2032): 90.36 billion.
Impact of COVID-19 on the Global IoT in Banking and Financial Services Market:
The COVID-19 pandemic has had an impact on every industry, including Aerospace & defense, Agriculture, Food & Beverage, Automobile & Transportation, Chemical & Material, Consumer Goods, Retail & eCommerce, Energy & Power, Pharma & Healthcare, Packaging, Construction, Mining & Gases, Electronics & Semiconductor, Banking Financial Services & Insurance, ICT, and many others. The global population has restricted themselves from leaving their homes and is increasingly confining themselves to their homes, which has an impact on the entire market, either negatively or positively.
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IoT in Banking and Financial Services Market Key Segments Covered:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
- Customer Experience Management
- Data Management
- Professional Services
- Integration and Deployment
- Support and Maintenance
- Business Consulting
- Managed Services
By Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
- Middle East & Africa
- North America
- Latin America
The Global IoT in Banking and Financial Services Market has been divided into five regions based on geography: Asia-Pacific, Europe, Middle East and Africa, Latin America, North America.
IoT in Banking and Financial Services Market Key Players:
The following companies are some of the major players in the global IoT in Banking and Financial Services market: Accenture, Capgemini, Cisco, IBM, Infosys, Microsoft, Oracle, Software AG.
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SPER Market Research