According to a new report, published by KBV research, The Global Mobile Banking Market size is expected to reach $5.7 billion by 2031, rising at a market growth of 16.5% CAGR during the forecast period.
The market refers to the provision of banking services and functionalities through mobile devices such as smartphones and tablets. It has witnessed significant growth and transformation in recent years, driven by technological advancements, changing consumer preferences, and regulatory initiatives aimed at fostering innovation in the financial services industry.
The Android segment led the Global Mobile Banking Market by Platform in 2023; thereby, achieving a market value of $3.7 Billion by 2031. Android has consistently maintained a significant market share in the global smartphone industry. According to various reports, Android devices collectively make up the majority of smartphone shipments worldwide. This widespread adoption of Android devices means that a large portion of the population uses Android smartphones, creating a substantial user base for mobile banking apps developed for the Android platform.
The Consumer-to-business segment is growing at a CAGR of 16.1 % during the forecast period. C2B mobile banking services offer consumers the convenience of conducting financial transactions and interactions with businesses directly from their mobile devices. Whether it’s paying bills, purchasing goods and services, or initiating transfers, mobile banking streamlines the process, eliminating the need for physical visits to banks or businesses. Consumers appreciate the efficiency and time-saving benefits of C2B mobile banking, driving demand for these services.
Full Report: https://www.kbvresearch.com/mobile-banking-market/
The North America region dominated the Global Mobile Banking Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1.8 Billion by 2031. The Europe region is anticipated to grow at a CAGR of 16% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 17.3% during (2024 - 2031).
By Platform
By Transaction
By Geography
Unique Offerings 
