
IoT in Banking and Financial Services Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Solution (Security, Customer Experience Management, Monitoring, Data Management, Others); By Services (Professional
Description
IoT in Banking and Financial Services Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Solution (Security, Customer Experience Management, Monitoring, Data Management, Others); By Services (Professional Services, Managed Services); By Application (Smart ATMs, Customer Management & Support, Security & Authentication, Others); By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Global IoT in Banking and Financial Services Market Size Booming almost 20X to Cross USD 17 Billion by 2029
The global IoT in banking and financial services market is gaining traction because of the increasing adoption of digitalization and IoT technologies and advancements in AI and analytics technologies enabling more effective use of IoT data.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global IoT in banking and financial services market size at USD 869.62 million in 2022. During the forecast period between 2023 and 2029, the global IoT in banking and financial services market size is projected to grow at an impressive CAGR of 53.16% reaching a value of USD 17,090.26 million by 2029. The main driver of Internet of Things (IoT) in banking industry trends is the increase in demand for IoT applications, which is boosting the market's expansion globally. Additionally, it is expected that the growing use of IoT-enabled smartphones and smart wearables will support the development of the Internet of Things (IoT) in the banking industry. However, the growth of the IoT in the banking and financial services market may be hampered by higher installation costs and complicated infrastructure requirements.
Global IoT in Banking and Financial Services Market – Overview
IoT in banking refers to the linked networks of IoT devices that gather data, transfer it, and enable its processing on a cloud or on-premises server to enhance the banking experience for customers and bankers. As many more devices are being connected in the future, IoT is going to play an even greater role in banking. Banks will be able to gather more information on their clients as a result and provide even more specialized services.
Global IoT in Banking and Financial Services Market – By Application
Based on application, the global IoT in banking and financial services market is segmented into smart ATMs, customer management & support, security & authentication, and others. The security & authentication segment accounts for the highest market share. When compared with other businesses, the financial industry faces about three times as many cyberattacks. Cost increases occur exponentially as a result of data breaches, both internal through fraud and external through hackers. The crucial developments in the cybersecurity applications market, which are expected to improve the market, are the use of Multi-Factor Authentication (MFA), typically for physical access control, virtual private networks, and chip assembly integrators' protection of counterfeiting.
Impact of COVID-19 on Global IoT in Banking and Financial Services Market
The COVID-19 pandemic offered immense growth opportunities to the global IoT in the banking and financial services market. The vast majority of bank staff worldwide have been advised to work remotely to slow the development of COVID-19. The World Health Organization (WHO) suggested that consumers adopt contactless payment technology and services and limit their handling of banknotes, as COVID-19 has the potential to survive on a note for days, which would hasten the disease's transmission. Banks can ensure that regular activities will likely be carried out with little disturbance by using digital and remote customer transactions. Such changes in the banking and financial industry are significantly fueling the growth of IoT in the market.
Competitive Landscape
Major players operating in the global IoT in banking and financial services market include IBM Corporation, Microsoft Corporation, SAP SE, Oracle Corporation, Infosys Limited, Cisco Systems, Inc., Accenture plc, Intel Corporation, Huawei Technologies Co., Ltd., Bosch Software Innovations GmbH, Vodafone Group Plc, Capgemini SE, Cognizant Technology Solutions Corporation, HCL Technologies Limited, and Tata Consultancy Services Limited.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and the global IoT in Banking and Financial Services Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the global IoT in Banking and Financial Services Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
400 Pages
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. India Ready to Mix Food Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Growing preference for convenience food products in the working population
- 3.2.1.2. Availability of a variety of ready-to-mix products
- 3.2.2. Restraints
- 3.2.2.1. High cost associated with ready to mix foods
- 3.2.2.2. Lack of awareness regarding
- 3.2.3. Opportunities
- 3.2.3.1. Surging strategic partnerships between major market players
- 3.2.3.2. Increasing investments in manufacturing
- 3.2.4. Challenges
- 3.2.4.1. Rising health concerns about diabetes and obesity
- 3.3. Technology Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
- 4. India Ready to Mix Food Market Overview
- 4.1. Market Size & Forecast by Value & Volume, 2019–2029
- 4.1.1. By Value (USD Million)
- 4.2. Market Share & Forecast
- 4.2.1. By Application
- 4.2.1.1. Snacks Mix
- 4.2.1.2. Curry Mix
- 4.2.1.3. Dessert Mix
- 4.2.1.4. Others
- 4.2.2. By Distribution Channel
- 4.2.2.1. Supermarket/Hypermarket
- 4.2.2.2. Convenience Stores
- 4.2.2.3. Independent Small Grocers
- 4.2.2.4. Online
- 5. India Ready to Mix Food Market Overview
- 5.1. Market Size & Forecast by Value & Volume, 2019–2029
- 5.1.1. By Value (USD Million)
- 5.2. Market Share & Forecast
- 5.2.1. By Application
- 5.2.2. By Distribution Channel
- 6. Competitive Landscape
- 6.1. List of Key Players and Their Offerings
- 6.2. India Ready to Mix Food Company Market Share Analysis, 2022
- 6.3. Competitive Benchmarking, By Operating Parameters
- 6.4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
- 7. Impact of Covid-19 on India Ready to Mix Food Market
- 8. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
- 8.1. Priya Foods
- 8.2. Fortune foods
- 8.3. MTR Foods Pvt. Ltd.
- 8.4. Gits Food Products Pvt. Ltd.
- 8.5. ITC Limited
- 8.6. Bambino Agro Industries Ltd.
- 8.7. Kohinoor Foods Limited
- 8.8. Ushodaya Enterprises Pvt. Ltd.
- 8.9. iD Fresh Food (India) Pvt. Ltd.
- 8.10. Haldiram's Food International Pvt. Ltd.
- 8.11. Maiyas Beverages and Foods Pvt. Ltd.
- 8.12. Rasoi Magic Foods (India) Pvt. Ltd.
- 8.13. Other Prominent Players
- 9. Key Strategic Recommendations
- 10. Research Methodology
- 10.1. Qualitative Research
- 10.1.1. Primary & Secondary Research
- 10.2. Quantitative Research
- 10.3. Market Breakdown & Data Triangulation
- 10.3.1. Secondary Research
- 10.3.2. Primary Research
- 10.4. Breakdown of Primary Research Respondents, By Region
- 10.5. Assumption & Limitation
- *Financial information in non-listed companies will be provided as per availability
- **The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
- List of Figures
- Figure 1 India Ready to Mix Food Market Segmentation
- Figure 2 India Ready to Mix Food Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2022
- Figure 4 India Ready to Mix Food Market Size, By Value (USD Billion), 2019–2029
- Figure 5 India Ready to Mix Food Market Share, By Application, By Value, 2019–2029
- Figure 6 India Ready to Mix Food Market Share, By Distribution Channel, By Value, 2019–2029
- List of Tables
- Table 1 India Ready to Mix Food Market Size, By Application, By Value, 2019–2029
- Table 2 India Ready to Mix Food Market Size, By Distribution Channel, By Value, 2019–2029
- Table 3 Fortune Foods Company Overview
- Table 4 Fortune Foods Financial Overview
- Table 5 MTR Foods Pvt. Ltd. Company Overview
- Table 6 MTR Foods Pvt. Ltd. Financial Overview
- Table 7 Gits Food Products Pvt. Ltd. Company Overview
- Table 8 Gits Food Products Pvt. Ltd. Financial Overview
- Table 9 ITC Limited Company Overview
- Table 10 ITC Limited Financial Overview
- Table 11 Bambino Agro Industries Ltd. Company Overview
- Table 12 Bambino Agro Industries Ltd. Financial Overview
- Table 13 Kohinoor Foods Limited Company Overview
- Table 14 Kohinoor Foods Limited Financial Overview
- Table 15 Ushodaya Enterprises Pvt. Ltd. Company Overview
- Table 16 Ushodaya Enterprises Pvt. Ltd. Financial Overview
- Table 17 iD Fresh Food (India) Pvt. Ltd. Company Overview
- Table 18 iD Fresh Food (India) Pvt. Ltd. Financial Overview
- Table 19 Haldiram's Food International Pvt. Ltd. Company Overview
- Table 20 Haldiram's Food International Pvt. Ltd. Financial Overview
- Table 21 Maiyas Beverages and Foods Pvt. Ltd. Company Overview
- Table 22 Maiyas Beverages and Foods Pvt. Ltd. Financial Overview
- Table 23 Rasoi Magic Foods (India) Pvt. Ltd. Company Overview
- Table 24 Rasoi Magic Foods (India) Pvt. Ltd. Financial Overview
- Table 25 KENT RO SYSTEMS LTD Company Overview
- Table 26 KENT RO SYSTEMS LTD Financial Overview
- Table 27 TTK Prestige Company Overview
- Table 28 TTK Prestige Financial Overview
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