
Reports and Data has recently added a new research report titled, “Global IoT in Banking And Financial Services Market – Industry Analysis, Size, Share, Growth, Trends, & Forecast 2021-2026.” The report focuses on important industry aspects, existing and latest market trends. The report offers a comprehensive analysis of overall market scenario along with market size, revenue growth, drivers, restraints, challenges, limitations and top companies included in the global IoT in Banking And Financial Services market.
Market Overview:
The information and communication technology industry has gained significant growth over the recent years and is expected to register rapid revenue growth throughout the forecast period. Increasing adoption of digitalization, developments in ICT sector and increasing adoption of cloud services are boosting global market growth. In addition, extensive use of ICT in several sections such as healthcare and hospital, agriculture, financial services among others, increasing penetration of Internet of Things (IoT), internet services, rising concerns about data storage and security, are supporting global market revenue growth. Moreover, increasing demand for technologically advanced devices, rising adoption of Artificial Intelligence and robotics and investments in research and development activities by market players to develop enhanced products are boosting market growth.
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Further key findings from the report suggest
Among the software, security and monitoring accounted for the largest market share of ~28% in the year 2018. Banking security solutions combine banking security systems along with remote security monitoring and management services to enhance the banking operations and with more insights into the business. ATM security solutions include silent alarm notification, advanced anti-skimming technology, ATM lighting, video surveillance, and remote video monitoring, among others. Using the remote management tools, it is possible to receive remote alerts and perform live video surveillance on any electronic device, with video displays.
Data management is forecasted to witness the highest growth rate of 49.6% during the forecast period. Banks today generate and store enormous amounts of valuable information within their firewalls. The use of data improves decision making across multiple banking activities. Banks find information faster about risks and frauds. Banks also have insights into the storage and management of data to meet regulatory requirements so that data can be retained, leveraged, archived, or deleted to comply.
North America held the largest market share of ~30% in the year 2018. The region has successfully adapted analytics tools and technologies and is still investing highly in these technologies like cloud computing, artificial intelligence, the internet of things, and more. The region is equipped with high broadband access and has already moved on to providing high-speed internet. Moreover, the presence of several players in the market also boosts the market growth in the region.
Key participants include IBM Corporation, Microsoft Corporation, SAP SE, Oracle Corporation, Accenture, Cisco Systems, Inc., Vodafone Group plc, Infosys Limited, Software AG, and Capgemini SE, among others.
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Organization Size Outlook (Revenue, USD Million; 2016-2026)
Large Sized Organizations
Small and Medium-Sized Organizations
Software Outlook (Revenue, USD Million; 2016-2026)
Security and Monitoring
Customer Experience Management
Payment Management
Data Management
Others
Application Outlook (Revenue, USD Million; 2016-2026)
Cyber Security
Customer Relationship Management
Proactive Services
Transportation and Logistics
Product Marketing and Planning
Others
End Users Outlook (Revenue, USD Million; 2016-2026)
Banking Services
Insurance Companies
Investment Banking
Mortgage Companies
Foreign Exchange
Stock Market
Brokerage Firms
Others
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