The Global IoT in Banking and Financial Services Market is forecast to reach USD 5.76 Billion by 2026, according to a new report by Reports and Data. Internet of Things (IoT) is the interconnectivity of electronic devices, such as smartphones, over a single network. These devices transmit signals to the server and among each other. The technology captures data from all the available sources, which is further filtered, and analyzed to gain insights into various processes of a business. Because of its potential, IoT is gaining massive traction in the banking sector across the world. The banking sector is figuring out ways to leverage the potential of IoT to bring out better revenues from business activities.
Key Players Profiled in the Report are:
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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The data collected and analyzed from sources such as mobile and web applications are used by the banks to launch better and more targeted service offerings. The data about the past service offerings are analyzed to understand the needs and preferences of its customers. Customers across the banking industry are demanding personalized solutions for their varying needs. The data is needed for his present economic condition and buying behavior. Internet of things (IoT) has made it possible for banks to keep track of all the consumer activities and present a solution specific to the needs and desires of the client.
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Organization Size Outlook (Revenue, USD Million; 2016-2026)
- Large Sized Organizations
- Small and Medium-Sized Organizations
Application Outlook (Revenue, USD Million; 2016-2026)
- Cyber Security
- Customer Relationship Management
- Proactive Services
- Transportation and Logistics
- Product Marketing and Planning
- Others
Software Outlook (Revenue, USD Million; 2016-2026)
- Security and Monitoring
- Customer Experience Management
- Payment Management
- Data Management
- Others
End Users Outlook (Revenue, USD Million; 2016-2026)
- Banking Services
- Insurance Companies
- Investment Banking
- Mortgage Companies
- Foreign Exchange
- Stock Market
- Brokerage Firms
- Others
The research study also provides crucial insights into the new ventures and collaborative endeavors the key players are undertaking to gain a robust footing in the market. It focuses on the recent mergers and acquisitions, joint ventures, product launches and brand promotions, corporate deals, agreements, and partnerships. The competitive landscape section offers crucial insights into key companies with regards to their market position, manufacturing and production capacity, product portfolio, investment strategies, business expansion plans, and gross profit margins.
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The key questions answered in the report:
- What will be the market size and growth rate in the forecast year?
- What are the key factors driving the IoT in Banking And Financial Services Market?
- What are the risks and challenges in front of the market?
- Who are the key vendors in the IoT in Banking And Financial Services Market?
- What are the trending factors influencing the market shares?
- What are the key outcomes of Porter’s five forces model?
- Which are the global opportunities for expanding the IoT in Banking And Financial Services Market?
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