An emerging market analysis titled “Anticipated Trends, Drivers of Growth, and Obstacles in the Social Banking Market” has been showcased on Report Ocean.
The “Global Social Banking Market” report offers comprehensive insights into factors affecting demand, growth, opportunities, challenges, and limitations. It covers global and regional industry dynamics, including research & development, new product launches, and responses from leading players in both global and local markets. The report provides visual representations and regional breakdowns of the Social Banking Market.
Global Social Banking Market is valued approximately USD $$ billion in 2021 and is anticipated to grow with a healthy growth rate of more than $% over the forecast period 2022-2029.
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Social Banking refers to offering banking services to individuals and organizations that works for purpose of betterment of society & environment sustainability. Banks and financial institutions offer tailor made products and services to financially empower the needy and vulnerable sections of the society. The increasing expansion of banking & financial services worldwide and growing emergence of sustainable banking as well as strategic initiatives from leading market players are key factors accelerating the market growth.
According to Statista – as of 2022, the revenue in the global Banking, Finance & Insurances is is estimated at USD 3.72 trillion and the market is projected to grow at an annual growth rate of 2.47% is expected between 2022 and 2025 to reach to USD 4.0 trillion by end of 2025. Also, growing adoption of interactive technologies in banking sector and favorable initiatives from regulatory authorities to promote financial inclusion would create lucrative growth prospectus for the market over the forecast period. However, concern associated with credit risk and increasing instances of data breach & cyber fraud impede the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Social Banking Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of market share owing to presence of leading market players coupled with growing emergence of AI & ML technologies in the region. Whereas Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising expansion of digital banking platforms and increasing number of initiatives from government authorities to promote financial inclusion among vulnerable section of the society in the region.
Major market players included in this report are:
- International Business Machines Corporation
- Oracle
- Fiserv Inc.
- Sword GRC
- Provenir
- Moody’s Investors Service Inc.
- Lockpath Inc.
- LogicManager Inc.
- Qualys Inc.
- Thomson Reuters
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Recent Developments in the Market:
In October 2020, Social media platform and messaging app LINE rolled out a social banking platform named LINE BK in collaboration with KASIKORNBANK in Thailand. This new platform would enable users to transfer money, open savings accounts, apply for loans as well as make payments.
In May 2022, Berlin, Germany based Owwn launched a social banking platform in partnership with Berlin based FinTech company Solarisbank.
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Application, Banking Type, Distribution Channel, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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The detailed segments and sub-segment of the market are explained below:
By Application
Payments
Processing Services
Customer & Channel Management
Risk Management
Others
By Banking Type
Retail Banking
Corporate Banking
Investment Banking
By Distribution Channel
Online
Offline
By Region:
North America: U.S., Canada
Europe: UK, Germany, France, Spain, Italy, Rest of Europe (ROE)
Asia Pacific: China, India, Japan, Australia, South Korea, Rest of Asia Pacific (RoAPAC)
Latin America: Brazil, Mexico, Rest of Latin America (RoLA)
Rest of the World
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Report Overview:
This research offers a comprehensive exploration of the emerging trends poised to shape the future business landscape. It delves deep into the pivotal factors driving the growth of the Social Banking market over the projected period. Furthermore, the report sheds light on strategic initiatives undertaken by leading industry players to fortify their market positions.
Market Dynamics:
Encompassing a global perspective, this study presents insights into the influential entities within the worldwide Social Banking market. It encompasses contact details, sales figures, and global market estimates. The research draws from reputable sources and institutions, aggregating a wealth of information and insightful analysis pertaining to the global Social Banking market.
Marketing Insights:
The study furnishes essential facts and statistics relevant for marketers, consultants, and decision-makers navigating the global Social Banking market landscape. With comprehensive regional breakdowns, this research offers a vital resource for newcomers venturing into the global Social Banking market. It encapsulates indispensable insights extracted from the Social Banking Market domain, facilitating informed decision-making processes.
This report covers several key questions related to the global Social Banking market, including:
- What can be expected for the Social Banking market in the next decade?
- What are the primary drivers of growth in the global Social Banking market?
- Which technologies are likely to experience the most rapid growth, both by market and region?
- How do opportunities within the Social Banking market vary based on the size of the end market?
- What is the breakdown of Social Banking by type and application?
- How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the Social Banking market?
Our most recent research report showcases the thriving expansion of the global Social Banking Market and offers in-depth insights into the projected market size, share, and revenue until 2031.
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