IoT in Banking and Financial Services Market to Soar 52.1% Annual Growth Rate to 2023

PUNE, India, June 1, 2018 /PRNewswire/ —

The global IoT in Banking and Financial Services market size is expected to grow from USD 249.4 million in 2018 to USD 2,030.1 million by 2023, at a CAGR of 52.1% during the forecast period report added in ReportsnReports.com. The convergence of operational and information technology and increasing use of IoT devices in product, application, and premises monitoring for connected banking are some of the factors driving the IoT in Banking and Financial Services market.

Browse 64 Market Data Tables and 52 Figures spread through 144 Pages and In-depth TOC on “IoT in Banking and Financial Services Market by Solution (Security, Monitoring, Customer Experience Management), Service, End-User (Banking, Insurance, and Investment and Wealth Management), Organization Size, and Region – Global Forecast to 2023” at http://www.reportsnreports.com/reports/1519431-iot-in-banking-and-financial-services-market-by-solution-security-monitoring-customer-experience-management-service-end-user-banking-insurance-and-investment-and-wealth-management-oragnization-size-and-r-st-to-2023.html .

The IoT in Banking and Financial Services market includes various major vendors, such as IBM (US), Microsoft (US), Capgemini (France), Cisco (US), SAP (Germany), Oracle (US), Accenture (Ireland), Infosys (India), Software AG (Germany), and Vodafone (UK).

Asia Pacific is expected to grow at the highest rate, followed by Europe, during the forecast period

Increasing global investments in IoT and focus on services with real-time data flow are the main growth opportunities in the IoT in Banking and Financial Services market. However, data protection and privacy concerns, and lack of standards for interconnectivity and interoperability are anticipated to be the major restraining factor for the growth of the market.

The monitoring segment is expected to grow at the highest CAGR during the forecast period

APAC is expected to grow at highest rate in the global IoT in Banking and Financial Services market during the forecast period, owing to dynamic adoption of new technologies and aggressive initiatives to upsurge IoT ecosystem for adoption of cutting-edge technologies. Europe is expected to record the second highest growth rate in the global IoT in Banking and Financial Services market.

Get Sample Papers on IoT in Banking and Financial Services Market by Solution (Security, Monitoring, Customer Experience Management), Service, End-User (Banking, Insurance, and Investment and Wealth Management), Organization Size, and Region – Global Forecast to 2023″ research report at http://www.reportsnreports.com/contacts/requestsample.aspx?name=1519431 .

The main objective of the report is to define, describe, and forecast the IoT in Banking and Financial Services market size by component (solution and service), end user, organization size, and region. The report provides detailed information on the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market. The report attempts to forecast the market size with respect to the 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.

Premium Insights

1 Attractive Market Opportunities in the IoT in Banking and Financial Services Market

2 Market Top 3 Services and Regions

3 Markets by Component, 2018-2023

4 Market by Organization Size, 2018 vs 2023

5 Markets by Region, 2018-2023

6 Market Investment Scenarios

The IoT in Banking and Financial Services market includes various vendors providing IoT solutions, and associated services to commercial clients across the globe. Companies, such as IBM (US), Microsoft (US), Capgemini (France), Cisco (US), SAP (Germany), Oracle (US), Accenture (Ireland), Infosys (India), Software AG (Germany), and Vodafone (UK), have adopted partnerships, agreements, and collaborations as the key strategies to expand their market reach.

Order a Copy of IoT in Banking and Financial Services Market by Solution (Security, Monitoring, Customer Experience Management), Service, End-User (Banking, Insurance, and Investment and Wealth Management), Organization Size, and Region – Global Forecast to 2023 research report at http://www.reportsnreports.com/purchase.aspx?name=1519431 .

The report includes an in-depth competitive analysis of the key players in the IoT in Banking and Financial Services market along with their company profiles, recent developments, and key market strategies. The report segments the IoT in Banking and Financial Services market by component (solutions and services), end user, organization size, and region.

The insurance end-user segment is expected to grow at the fastest rate, as IoT helps the insurance companies in more effectively determining insurance prices and providing services that keep people and their assets safe. IoT devices, such as smart devices and phones, can use accelerometers, gyroscopes, GPS, and sensors to provide data on consumers. This usage pattern can be further used by insurance companies to provide UBI solutions.

These primary sources have been divided into three categories:

  • By Company: Tier 1 – 30 %, Tier 2 – 40%, and Tier 3 – 30%
  • By Designation: C-Level – 72%, Director Level – 14%, and Others – 14%
  • By Region: North America – 57%, Europe – 14%, and APAC – 29%

Another research titled the global IoT in manufacturing market is expected to grow from USD 12.67 billion in 2017 to USD 45.30 billion by 2022, at a CAGR of 29.0% during the forecast period. Growing need for centralized monitoring and predictive maintenance of manufacturing infrastructure, agile production, and operational efficiency, and increasing adoption of the cloud are some of the drives of the global IoT in manufacturing market. The IoT in manufacturing market includes various vendors, such as PTC (US), Cisco Systems (US), General Electric (US), IBM (US), SAP (Germany), Zebra Technologies (US), Siemens (Germany), Huawei (China), Microsoft (US), Bosch (Germany), Schneider Electric (France), and Wind River (US) now available at http://www.reportsnreports.com/contacts/discount.aspx?name=828058 .

Explore more reports on IT & Telecommunication Market Research at http://www.reportsnreports.com/market-research/information-technology/ .