In-Depth Exploration of the SOHO Mobile Banking Market: Enriching Industry Understanding, Envisioning Trends, Evaluating Growth Catalysts, and Forecasting Advancements from 2023 to 2030.
Report Ocean has recently released a comprehensive research report on the global SOHO Mobile Banking Market. The report offers a detailed analysis of various market characteristics, such as size, growth, segmentation, regional and country breakdowns, competitive environment, market shares, trends, and strategies. It also provides insights into the impact of the COVID-19 pandemic on the market.
Global SOHO Mobile Banking Market is valued approximately USD $$ million in 2022 and is anticipated to grow with a healthy growth rate of more than $% over the forecast period 2023-2030.
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The SOHO Mobile Banking can be defined as utilization of mobile banking activities conducted in Small Offices or Home Offices. SOHO refers to privately operated business consist of self-employed individuals. The use of Mobile based banking in SOHO businesses offers various advantages such as convenience, timesaving, cost of saving, operation ease, and improves the work efficiency. The rising Start-up culture globally and increasing adoption of digital banking solutions as well as growing number of product launches from leading market players are factors that are accelerating the global market demand. For instance, according to Statista – as of 2021, the number of digital banking users in United States was estimated at 197 million users, and the number of digital banking users in the country is forecasted to grow to 217 million by 2025.
Furthermore, leading market are coming up with innovating mobile banking products and services for SOHO businesses to capitalize the growing need for SOHO Mobile Banking. For instance, in November 2021, India based Kinara Capital launched its new myKinara mobile app that comes. This app is first of its kind in the unsecured MSME business lending space. myKinara app offers collateral-free business loans digitally within 24-hours turnaround time (TAT). Moreover, in June 2022, India based ICICI Bank launched a digital service for Micro, Small and Medium Enterprises (MSMEs) that can also be used by customers of other banks. This new facility can be availed through the new version of the bank’s InstaBIZ app. Also, growing penetration of 5G technologies coupled with rising technological advancements in mobile banking solutions are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, a rising concern over data breaches impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global SOHO Mobile Banking Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing utilization of mobile banking solutions and presence of leading market players in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the thriving growth of startup culture and increasing number of new product announcement from leading market players in the region, would create lucrative growth prospects for the global SOHO Mobile Banking Market across the Asia Pacific region.
Major market players included in this report are:
- Clyde
- Digit
- Flywire
- IHS Markit Digital
- MANTL
- Remitly
- Riskified
- Spring Labs
- Robinhood
- Chime
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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 eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Services
Payments wallet
Insurance
Trading
Portfolio management
Loans and Financing
By Platform
Mobile app
Web portal
Tele-services
Others
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By End User
Individual
Enterprise
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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This report covers several key questions related to the global SOHO Mobile Banking market, including:
- What can be expected for the SOHO Mobile Banking market in the next decade?
- What are the primary drivers of growth in the global SOHO Mobile Banking market?
- Which technologies are likely to experience the most rapid growth, both by market and region?
- How do opportunities within the SOHO Mobile Banking market vary based on the size of the end market?
- What is the breakdown of SOHO Mobile Banking by type and application?
- How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the SOHO Mobile Banking market?
The Key Points Covered in the Table of Contents:
Overview: This section provides a concise summary of the report, offering a high-level understanding of the global SOHO Mobile Banking Market. It serves as an introduction, providing insights into the nature and contents of the research study.
Market Analysis: The research study accurately and reliably forecasts the market share of key segments within the SOHO Mobile Banking Market. This analysis enables industry participants to make strategic investments in the significant growth areas of the Food Container Market.
Analysis of Leading Players’ Strategies: Market participants can utilize this report to gain a competitive advantage over their rivals in the SOHO Mobile Banking Market. It offers an in-depth analysis of the strategies employed by leading players, enabling others to develop effective strategies and stay ahead in the market.
Regional Growth Analysis: The report covers all major regions and countries relevant to the SOHO Mobile Banking Market. The regional analysis facilitates market players in identifying untapped regional markets, devising unique regional strategies, and comparing the growth patterns across different regions.
Market Forecasts: Purchasers of this report gain access to precise and validated estimations of the overall market size in terms of both value and volume. The study also includes comprehensive forecasts for consumption, production, sales, and other pertinent factors related to the SOHO Mobile Banking Market.
Our SOHO Mobile Banking Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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