Neo and Challenger Bank Market Size, Industry Key Players, & Scenario By 2029
Global
Neo and Challenger Bank Market was valued at USD 6.41 billion in
2021 and is expected to reach USD 1326.41 billion by 2029, registering a CAGR
of 47.80% during the forecast period of 2022-2029. “Mobile Banking” is expected
to witness high growth owing to the rapid digitization and adoption of
smartphones globally.
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Neo and Challenger Bank Market Dynamics
This section deals with understanding the market drivers,
advantages, opportunities, restraints and challenges. All of this is discussed
in detail as below:
Drivers
·
Need
for Advanced Features in Banking
The emergence of neo and challenger banks the banking industry
incorporating advance features, client-centric products and services, and
real-time services acts as one of the major factors driving the neo and
challenger bank market.
·
Increase
in Popularity of Challenger Banks
The increase in the popularity of challenger banks owing to its
services such as investments and savings accounts, mobile banking, lending,
checking and merchant accounts, among others accelerate the market growth.
These banks are also considered beneficial for buying and selling of
cryptocurrency, insurance products and retirement savings.
·
Higher
Interest Rates
The increase in adoption of these banks due to their higher
interest rates over traditional banks further influence the market. Also, the
increase in government and regulatory supports toward banking operations has a
positive impact on the market growth.
Additionally, rapid urbanization, change in lifestyle, surge in
investments and increased consumer spending positively impact the neo and
challenger bank market.
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Neo
and Challenger Bank Market Regional Analysis/Insights
The neo and challenger bank market is analysed and
market size insights and trends are provided by country, type, services provided,
and application as referred above.
The countries covered in the neo and challenger bank
market report are U.S., Canada and Mexico in North America, Germany, France,
U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of
Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia,
Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the
Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of
Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil,
Argentina and Rest of South America as part of South America.
Some of the key questions answered in this report:
· How
has the Global Neo and Challenger Bank
Market performed so far and how will it perform in the coming years?
· What
has been the impact of COVID-19 on the Neo and Challenger Bank Market?
· What
are the key regional markets?
· What
is the breakup of the market based on the procedure?
· What
is the breakup of the market based on the injury location?
· What
is the breakup of the market based on the end user?
· What
are the various stages in the value chain of the industry?
· What
are the key driving factors and challenges in the industry?
· What is the structure of the Neo and
Challenger Bank and who are the key players?
· What
is the degree of competition in the industry?
Key Pointers Covered
in Neo and Challenger Bank Market Industry Trends and Forecast
· Market
Size
· Market New Sales Volumes
· Market
Replacement Sales Volumes
· Market
By Brands
· Market
Procedure Volumes
· Market
Product Price Analysis
· Market
Regulatory Framework and Changes
· Market
Shares in Different Regions
· Recent
Developments for Market Competitors
· Market
Upcoming Applications
· Market
Innovators Study
Competitive
Landscape and Neo and Challenger Bank Market
The neo and challenger bank market competitive
landscape provides details by competitor. Details included are company
overview, company financials, revenue generated, market potential, investment
in research and development, new market initiatives, global presence,
production sites and facilities, production capacities, company strengths and
weaknesses, product launch, product width and breadth, application dominance.
The above data points provided are only related to the companies' focus related
to neo and challenger bank market.
Major
Key Player Neo and Challenger Bank Market
Some of the major players operating in neo and
challenger bank market are
- Atom
bank (UK)
- Fidor
Solutions AG (Germany)
- Monzo
Bank Limited (UK)
- Moven
Enterprise (US)
- N26
GmbH (Germany)
- Tandem
Bank Limited (UK)
- Pockit
LTD (UK)
- UBank
(Australia)
- PRETA
S.A.S. (France)
- WeBank
(China)
- Starling
Bank (UK)
- DBS
Bank India Limited (India)
MAJOR TOC OF THE REPORT
· Chapter One: Introduction
· Chapter Two: Market
Scope
· Chapter Three: Regional Analysis
· Chapter Four: Market Share
Analysis
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