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Augmented Reality in Banking - Thematic Research

Publisher GlobalData
Published Mar 27, 2024
Length 73 Pages
SKU # GBDT18714144

Description

Augmented Reality in Banking - Thematic Research


Summary

Augmented reality (AR) is a technology that allows the user to see the real world overlaid with digital data. Smartphones are the primary device for AR applications today. While Big Tech is developing new AR headsets and smart glasses, smartphones are gaining AR capabilities like advanced spatial awareness, precise positional tracking, and artificial intelligence (AI) tools. This promises to bring more realistic and immersive experiences to mobile AR in the next couple of years. According to GlobalData forecasts, the AR market will be worth $100 billion by 2030, up from $22 billion in 2022. AR software will generate most of this revenue, with limited spending on AR headsets and AR smart glasses.

This report takes an in-depth look at look at the impact of AR in the banking industry. These data analysis section provides market size and growth forecasts, followed by M&A activity, an AR timeline, and insight into company filing, hiring, and patent trends. An impact assessment details the areas of AR where banking companies should focus their investments and outlines how challenges faced by the industry have accelerated the adoption of AR. The value chain section offers a detailed description of each segment of the AR technology stack. The report also discusses the specialist vendors and leading adopters of AR in the banking industry, including case study analysis.

Scope
  • Banks should focus their investments on the edge of the AR value chain, seeking to create experiences through platforms and applications.
  • AR content is a key investment area for banking and payments companies. Usually, banks partner with specialist vendors to create AR content centered on specific use cases, such as marketing or visualizing information.
  • Tech-forward banking and payments companies have explored the potential applications of AR across several stages of customer and product lifecycles. This ranges from marketing new products to onboarding new customers and boosting the subsequent customer experience.
  • Total AR-related patent publications across the banking sector increased from 68 in 2010 to over 2,100 in 2023.
Reasons to Buy
  • Access market size and growth forecasts for AR in banking.
  • Identify leaders and laggards in AR across payments and retail banking.
  • Understand the key challenges facing the banking industry, and how AR addresses these challenges.
  • Access primary research case study examples of AR vendors and investments in the banking industry.

Table of Contents

73 Pages
Executive Summary
Players
Banking and Payments Challenges
Impact Assessment
The impact of augmented reality in banking and payments
Marketing
Onboarding
Utility
In-house
The impact of AR on banking and payments challenges
How AR helps tackle the challenges of embedded finance and personalization
How AR helps tackle the challenge of ESG
How AR exacerbates the challenge of cybersecurity and fraud risks
How AR helps tackle the challenge of financial inclusion
How AR helps tackle the challenge of demographics
Case Studies
JPMorgan Chase Asset Management’s Guide to Markets using AR
mBank targets Gen Z using Snapchat Ads
Revolut uses AR to promote Ultra, its luxury credit card
Augmented Reality Timeline
Market Size and Growth Forecasts
AR software
AR hardware
Signals
M&A trends
Patent trends
Company filing trends
Hiring trends
Augmented Reality Value Chain
Semiconductors
Central processing units
Graphics processing units
Vision processing units
Image processors
Communication chips
Micro-electromechanical systems (MEMS)
Memory chips
Components
Motion tracking
Batteries
Displays
Cameras and 3D lenses
Audio component
Machine vision
Devices
Smartphones
AR smart glasses
AR headsets
Platforms
Artificial intelligence
The impact of generative AI
Apps and content
Companies
Leading augmented reality adopters in banking and payments
Leading augmented reality vendors
Specialist augmented reality vendors in banking and payments
Sector Scorecards
Payments sector scorecard
Who’s who
Thematic screen
Valuation screen
Risk screen
Retail banking sector scorecard
Who’s who
Thematic screen
Valuation screen
Risk screen
Glossary
Further Reading
GlobalData reports
Our Thematic Research Methodology
About GlobalData
Contact Us
List of Tables
Table 1: Key challenges currently facing the banking and payments sector.
Table 2: M&A trends
Table 3: Leading augmented reality adopters in banking and payments
Table 4: Leading augmented reality vendors
Table 5: Specialist augmented reality vendors in banking and payments
Table 6: Glossary
Table 7: GlobalData reports
List of Figures
Figure 1: Key players in augmented reality
Figure 2: Over half of poll respondents believe that AR is hyped but has uses
Figure 3: Thematic investment matrix
Figure 4: Banks have explored AR use cases across several aspects of product and customer life cycles
Figure 5: AR has uses in banking and payments across marketing, onboarding, utility, and in-house integration
Figure 6: Capital One added an AR feature to its Auto Navigator app
Figure 7: ABN AMRO’s AR-based financial education game sees users prevent a financial meltdown
Figure 8: JPMorgan Chase’s AR-based Guide to Markets
Figure 9: mBank uses Snapchat Ads to engage prospective Gen Z customers
Figure 10: Revolut used an AR experience to display the benefits of its Ultra card
Figure 11: The augmented reality story
Figure 12: AR will become a $100 billion market by 2030
Figure 13: Enterprise AR will continue to be more lucrative than the consumer market by 2030
Figure 14: AR software will dominate the market over the forecast period
Figure 15: The AR software market will generate $82 billion in revenue by 2030
Figure 16: The AR hardware market will be worth $18 billion by 2030
Figure 17: AR headsets will lead the AR hardware market
Figure 18: AR-related patents in the banking sector have grown steadily between 2003 and 2023
Figure 19: Paymens processors and wealth management companies lead in AR-related patents
Figure 20: AR-related mentions across the banking sector steadily increased between 2016 and 2021
Figure 21: AR-related job vacancies across the banking sector exhibit no consistent trend
Figure 22: The augmented reality value chain
Figure 23: AR value chain – Semiconductors
Figure 24: AR value chain – Components
Figure 25: AR value chain – Devices
Figure 26: AR value chain – Platforms
Figure 27: AR value chain – Platforms - AI
Figure 28: AR value chain – Apps and content
Figure 29: Who does what in the payments space?
Figure 30: Thematic screen - Payments sector scorecard
Figure 31: Valuation screen - Payments sector scorecard
Figure 32: Risk screen - Payments sector scorecard
Figure 33: Who does what in the retail banking space?
Figure 34: Thematic screen - Retail banking sector scorecard
Figure 35: Valuation screen - Retail banking sector scorecard
Figure 36: Risk screen - Retail banking sector scorecard
Figure 37: Our five-step approach for generating a sector scorecard

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