Press Resease

IoT in Banking & Financial Services Market by Application (Data Management, Cybersecurity, Proactive Services, Product Planning & Marketing, Customer Relationship Management, and Data Analysis) by Component (Hardware, Software, and Service), and by End-User (Banks, Insurance Companies, Mortgage Companies, Brokerage Firms, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024

Published Date: 03-Dec-2018 Category: Technology & Media Report Format : PDF Pages: 148 Report Code: ZMR-3581 Status : Published

Global IoT in banking & financial services market accounted for USD 159 million in 2017 and is expected to reach USD 2,547 million by 2024, at a CAGR of 48.6% between 2018 and 2024. Increasing number of smartphone users in the last decade is likely to propel the IoT in banking & financial services market.

Description

The report analyzes and forecasts the IoT in banking & financial services market on a global and regional level. The study offers past data from 2015 to 2017 along with forecast from 2018 to 2024 based on revenue (USD Million). Assessment of IoT in banking & financial services market dynamics gives a brief thought about the drivers and restraints for the IoT in banking & financial services market along with the impact they have on the demand over the years to come. Additionally, the report also includes the study of opportunities available in the IoT in banking & financial services market on a global level.

The report gives a transparent view of the IoT in banking & financial services market. We have included a detailed competitive scenario and portfolio of leading vendors operative in the IoT in banking & financial services market. To understand the competitive landscape in the IoT in banking & financial services market, an analysis of Porter’s Five Forces model for the IoT in banking & financial services market has also been included. The study encompasses a market attractiveness analysis, wherein application, component, end-user, and regional segments are benchmarked based on their market size, growth rate, and general attractiveness.

IoT in Banking Financial Services Market

The study provides a crucial view of the IoT in banking & financial services by segmenting the market based on application, component, end-user, and region. All the segments of IoT in banking & financial services market have been analyzed based on present and future trends and the market is estimated from 2018 to 2024. Based on application, the IoT in banking & financial services market is divided into data management, cybersecurity, proactive services, product planning and marketing, customer relationship management, and data analysis. Hardware, software, and service comprise the component segment of this market. By end-user, this market includes banks, insurance companies, mortgage companies, brokerage firms, and others. The regional segmentation comprises the current and forecast demand for the Middle East and Africa, North America, Asia Pacific, Latin America and Europe for the IoT in banking & financial services market with their further bifurcation into the U.S., Canada, Mexico, UK, France, Spain, Germany, Switzerland, China, Japan, India, South Korea, Australia, Brazil, Argentina, UAE, Saudi Arabia, and South Africa.

The competitive profiling of noticeable players of the IoT in banking & financial services market includes company and financial overview, business strategies adopted by them, their recent developments and product offered by them which can help in assessing competition in the market. Noticeable players included in this report Microsoft Corporation, IBM Corporation, Oracle Corporation, SAP SE, Cisco Systems, Inc., Accenture, Infosys Limited, Vodafone Group plc, Software AG, and Capgemini SE, among others.

This report segments the global IoT banking & financial services market as follows:

Global IoT in Banking & Financial Services Market: Application Segment Analysis

  • Data Management
  • Cyber Security
  • Proactive Services
  • Product Planning & Marketing
  • Customer Relationship Management
  • Data Analysis

Global IoT in Banking & Financial Services Market: Component Segment Analysis

  • Hardware
  • Software
  • Service

Global IoT in Banking & Financial Services Market: End-User Segment Analysis

  • Banks
  • Insurance Companies
  • Mortgage Companies
  • Brokerage Firms
  • Others

Global IoT in Banking & Financial Services Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1. Report Description
      • 1.1.1. Objective
      • 1.1.2. Target Audience
      • 1.1.3. Unique Selling Proposition (USP) & Offerings
    • 1.2. Research Scope
    • 1.3. Research Methodology
      • 1.3.1. Market Research Process
      • 1.3.2. Market Research Methodology
      • 1.3.3. Level 1: Primary Research
      • 1.3.4. Level 2: Secondary Research
      • 1.3.5. Level 3: Data Validation and Expert Panel Assessment Report Description and Scope
  •  
  • Chapter 2. Executive Summary
    • 2.1. Global IoT in Banking & Financial Services Market, 2015-2024,(USD Million)
    • 2.2. IoT in Banking & Financial Services Market: Market Snapshot
  •  
  • Chapter 3. Global IoT in Banking & Financial Services Market- Industry Analysis
    • 3.1. Introduction
    • 3.2. Industry ecosystem analysis
    • 3.3. Technology landscape
    • 3.4. Market Drivers
      • 3.4.1. North America
      • 3.4.2. Europe
        • 3.4.2.1. Government initiatives to invest in IoT
      • 3.4.3. Asia Pacific
      • 3.4.4. Latin America
      • 3.4.5. MEA
    • 3.5. Restraints
      • 3.5.1. Increasing cyber attacks
    • 3.6. Opportunity
    • 3.7. Innovation & sustainability
    • 3.8. Regulatory landscape
    • 3.9. Porter's Five Forces Analysis
    • 3.10. PESTLE Analysis
    • 3.11. IoT in Banking & Financial ServicesMarket: Market Attractiveness Analysis
      • 3.11.1. Market Attractiveness Analysis by ApplicationSegment
      • 3.11.2. Market Attractiveness Analysis by ComponentSegment
      • 3.11.3. Market Attractiveness Analysis by End-User Segment
      • 3.11.4. Market Attractiveness Analysis by Regional Segment
  •  
  • Chapter 4. Global IoT in Banking & Financial Services Market - Competitive Landscape
    • 4.1. Company Market Share Analysis, 2017
    • 4.2. Strategic Development
      • 4.2.1. Acquisitions and Mergers
      • 4.2.2. New Product Launch
      • 4.2.3. Agreements, Partnerships, Collaborations, and Joint Ventures
      • 4.2.4. Research and Development, Product and Regional Expansion
  •  
  • Chapter 5. IoT in Banking & Financial Services Market - Application Segment Analysis
    • 5.1. Global IoT in Banking & Financial Services Market Revenue Share, by Application, 2017&2024(USD Million)
    • 5.2. Global IoT in Banking & Financial ServicesMarket byData Management, 2015 - 2024(USD Million)
    • 5.3. Global IoT in Banking & Financial ServicesMarketbyCyber Security, 2015 - 2024(USD Million)
    • 5.4. Global IoT in Banking & Financial ServicesMarket by Proactive Services, 2015 - 2024 (USD Million)
    • 5.5. Global IoT in Banking & Financial ServicesMarket by Product Planning & Marketing, 2015 - 2024 (USD Million)
    • 5.6. Global IoT in Banking & Financial ServicesMarket by Customer Relationship Management, 2015 - 2024 (USD Million)
    • 5.7. Global IoT in Banking & Financial ServicesMarket by Data Analysis, 2015 - 2024 (USD Million)
  •  
  • Chapter 6. IoT in Banking & Financial Services Market - Component Segment Analysis
    • 6.1. Global IoT in Banking & Financial Services Market Revenue Share, byComponent, 2017 &2024(USD Million)
    • 6.2. Global IoT in Banking & Financial ServicesMarket by Hardware, 2015 - 2024(USD Million)
    • 6.3. Global IoT in Banking & Financial ServicesMarket by Software, 2015 - 2024 (USD Million)
    • 6.4. Global IoT in Banking & Financial Services Market by Service, 2015 - 2024 (USD Million)
  •  
  • Chapter 7. IoT in Banking & Financial Services Market - End-User Segment Analysis
    • 7.1. Global IoT in Banking & Financial Services Market Revenue Share, by End-User, 2017 & 2024 (USD Million)
    • 7.2. Global IoT in Banking & Financial Services Market by Banks, 2015 - 2024 (USD Million)
    • 7.3. Global IoT in Banking & Financial Services Market by Insurance Companies, 2015 - 2024 (USD Million)
    • 7.4. Global IoT in Banking & Financial Services Market by Mortgage Companies, 2015 - 2024 (USD Million)
    • 7.5. Global IoT in Banking & Financial Services Market by Brokerage Firms, 2015 - 2024 (USD Million)
    • 7.6. Global IoT in Banking & Financial Services Market by Others, 2015 - 2024 (USD Million)
  •  
  • Chapter 8. IoT in Banking & Financial Services Market - Regional Analysis
    • 8.1. Global IoT in Banking & Financial ServicesMarket: Regional Overview
      • 8.1.1. Global IoT in Banking & Financial ServicesMarket Revenue Share, By Region, 2017 And 2024(USD Million)
    • 8.2. North America
      • 8.2.1. North America IoT in Banking & Financial Services Market Revenue 2015 - 2024 (USD Million)
      • 8.2.2. North America IoT in Banking & Financial Services Market Revenue, By Application, 2015 - 2024 (USD Million)
      • 8.2.3. North America IoT in Banking & Financial Services Market Revenue, By Component, 2015 - 2024 (USD Million)
      • 8.2.4. North America IoT in Banking & Financial Services Market Revenue, By End-User, 2015 - 2024 (USD Million)
      • 8.2.5. The U.S.
        • 8.2.5.1. The U.S. IoT in Banking & Financial Services Market Revenue, by Application, 2015 - 2024 (USD Million)
        • 8.2.5.2. The U.S. IoT in Banking & Financial Services Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.2.5.3. The U.S. IoT in Banking & Financial Services Market Revenue, by End-User, 2015 - 2024 (USD Million)
      • 8.2.6. Canada
        • 8.2.6.1. Canada IoT in Banking & Financial Services Market Revenue, by Application, 2015 - 2024 (USD Million)
        • 8.2.6.2. Canada IoT in Banking & Financial Services Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.2.6.3. Canada IoT in Banking & Financial Services Market Revenue, by End-User, 2015 - 2024 (USD Million)
      • 8.2.7. Mexico
        • 8.2.7.1. Mexico IoT in Banking & Financial Services Market Revenue, by Application, 2015 - 2024 (USD Million)
        • 8.2.7.2. Mexico IoT in Banking & Financial Services Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.2.7.3. Mexico IoT in Banking & Financial Services Market Revenue, by End-User, 2015 - 2024 (USD Million)
    • 8.3. Europe
      • 8.3.1. Europe IoT in Banking & Financial Services Market Revenue 2015 - 2024 (USD Million)
      • 8.3.2. Europe IoT in Banking & Financial Services Market Revenue, By Application, 2015 - 2024 (USD Million)
      • 8.3.3. Europe IoT in Banking & Financial Services Market Revenue, By Component, 2015 - 2024 (USD Million)
      • 8.3.4. Europe IoT in Banking & Financial Services Market Revenue, By End-User, 2015 - 2024 (USD Million)
      • 8.3.5. U.K.
        • 8.3.5.1. U.K. IoT in Banking & Financial Services Market Revenue, by Application, 2015 - 2024 (USD Million)
        • 8.3.5.2. U.K. IoT in Banking & Financial Services Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.3.5.3. U.K. IoT in Banking & Financial Services Market Revenue, by End-User, 2015 - 2024 (USD Million)
      • 8.3.6. France
        • 8.3.6.1. France IoT in Banking & Financial Services Market Revenue, by Application, 2015 - 2024 (USD Million)
        • 8.3.6.2. France IoT in Banking & Financial Services Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.3.6.3. France IoT in Banking & Financial Services Market Revenue, by End-User, 2015 - 2024 (USD Million)
      • 8.3.7. Spain
        • 8.3.7.1. Spain IoT in Banking & Financial Services Market Revenue, by Application, 2015 - 2024 (USD Million)
        • 8.3.7.2. Spain IoT in Banking & Financial Services Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.3.7.3. Spain IoT in Banking & Financial Services Market Revenue, by End-User, 2015 - 2024 (USD Million)
      • 8.3.8. Germany
        • 8.3.8.1. Germany IoT in Banking & Financial Services Market Revenue, by Application, 2015 - 2024 (USD Million)
        • 8.3.8.2. Germany IoT in Banking & Financial Services Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.3.8.3. Germany IoT in Banking & Financial Services Market Revenue, by End-User, 2015 - 2024 (USD Million)
      • 8.3.9. Switzerland
        • 8.3.9.1. Switzerland IoT in Banking & Financial Services Market Revenue, by Application, 2015 - 2024 (USD Million)
        • 8.3.9.2. Switzerland IoT in Banking & Financial Services Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.3.9.3. Switzerland IoT in Banking & Financial Services Market Revenue, by End-User, 2015 - 2024 (USD Million)
      • 8.3.10. Rest of Europe
        • 8.3.10.1. Rest of Europe IoT in Banking & Financial Services Market Revenue, by Application, 2015 - 2024 (USD Million)
        • 8.3.10.2. Rest of Europe IoT in Banking & Financial Services Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.3.10.3. Rest of Europe IoT in Banking & Financial Services Market Revenue, by End-User, 2015 - 2024 (USD Million)
    • 8.4. Asia Pacific
      • 8.4.1. Asia Pacific IoT in Banking & Financial Services Market Revenue 2015 - 2024 (USD Million)
      • 8.4.2. Asia Pacific IoT in Banking & Financial Services Market Revenue, By Application, 2015 - 2024 (USD Million)
      • 8.4.3. Asia Pacific IoT in Banking & Financial Services Market Revenue, By Component, 2015 - 2024 (USD Million)
      • 8.4.4. Asia PacificIoT in Banking & Financial Services Market Revenue, By End-User, 2015 - 2024 (USD Million)
      • 8.4.5. China
        • 8.4.5.1. China IoT in Banking & Financial Services Market Revenue, by Application, 2015 - 2024 (USD Million)
        • 8.4.5.2. China IoT in Banking & Financial Services Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.4.5.3. China IoT in Banking & Financial Services Market Revenue, by End-User, 2015 - 2024 (USD Million)
      • 8.4.6. Japan
        • 8.4.6.1. Japan IoT in Banking & Financial Services Market Revenue, by Application, 2015 - 2024 (USD Million)
        • 8.4.6.2. Japan IoT in Banking & Financial Services Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.4.6.3. Japan IoT in Banking & Financial Services Market Revenue, by End-User, 2015 - 2024 (USD Million)
      • 8.4.7. India
        • 8.4.7.1. India IoT in Banking & Financial Services Market Revenue, by Application, 2015 - 2024 (USD Million)
        • 8.4.7.2. India IoT in Banking & Financial Services Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.4.7.3. India IoT in Banking & Financial Services Market Revenue, by End-User, 2015 - 2024 (USD Million)
      • 8.4.8. South Korea
        • 8.4.8.1. South Korea IoT in Banking & Financial Services Market Revenue, by Application, 2015 - 2024 (USD Million)
        • 8.4.8.2. South Korea IoT in Banking & Financial Services Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.4.8.3. South Korea IoT in Banking & Financial Services Market Revenue, by End-User, 2015 - 2024 (USD Million)
      • 8.4.9. Australia
        • 8.4.9.1. Australia IoT in Banking & Financial Services Market Revenue, by Application, 2015 - 2024 (USD Million)
        • 8.4.9.2. Australia IoT in Banking & Financial Services Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.4.9.3. Australia IoT in Banking & Financial Services Market Revenue, by End-User, 2015 - 2024 (USD Million)
      • 8.4.10. Rest of Asia Pacific
        • 8.4.10.1. Rest of Asia Pacific IoT in Banking & Financial Services Market Revenue, by Application, 2015 - 2024 (USD Million)
        • 8.4.10.2. Rest of Asia Pacific IoT in Banking & Financial Services Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.4.10.3. Rest of Asia Pacific IoT in Banking & Financial Services Market Revenue, by End-User, 2015 - 2024 (USD Million)
    • 8.5. Latin America
      • 8.5.1. Latin America IoT in Banking & Financial Services Market Revenue 2015 - 2024 (USD Million)
      • 8.5.2. Latin America IoT in Banking & Financial Services Market Revenue, By Application, 2015 - 2024 (USD Million)
      • 8.5.3. Latin America IoT in Banking & Financial Services Market Revenue, By Component, 2015 - 2024 (USD Million)
      • 8.5.4. Latin America IoT in Banking & Financial Services Market Revenue, By End-User, 2015 - 2024 (USD Million)
      • 8.5.5. Argentina
        • 8.5.5.1. Argentina IoT in Banking & Financial Services Market Revenue, by Application, 2015 - 2024 (USD Million)
        • 8.5.5.2. Argentina IoT in Banking & Financial Services Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.5.5.3. Argentina IoT in Banking & Financial Services Market Revenue, by End-User, 2015 - 2024 (USD Million)
      • 8.5.6. Brazil
        • 8.5.6.1. Brazil IoT in Banking & Financial Services Market Revenue, by Application, 2015 - 2024 (USD Million)
        • 8.5.6.2. Brazil IoT in Banking & Financial Services Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.5.6.3. Brazil IoT in Banking & Financial Services Market Revenue, by End-User, 2015 - 2024 (USD Million)
      • 8.5.7. Rest of Latin America
        • 8.5.7.1. Rest of Latin America IoT in Banking & Financial Services Market Revenue, by Application, 2015 - 2024 (USD Million)
        • 8.5.7.2. Rest of Latin America IoT in Banking & Financial Services Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.5.7.3. Rest of Latin America IoT in Banking & Financial Services Market Revenue, by End-User, 2015 - 2024 (USD Million)
    • 8.6. Middle East and Africa
      • 8.6.1. The Middle East and Africa IoT in Banking & Financial Services Market Revenue 2015 - 2024 (USD Million)
      • 8.6.2. The Middle East and Africa IoT in Banking & Financial Services Market Revenue, by Application, 2015 - 2024 (USD Million)
      • 8.6.3. The Middle East and Africa IoT in Banking & Financial Services Market Revenue, by Component, 2015 - 2024 (USD Million)
      • 8.6.4. The Middle East and Africa IoT in Banking & Financial Services Market Revenue, By End-User, 2015 - 2024 (USD Million)
      • 8.6.5. UAE
        • 8.6.5.1. UAE IoT in Banking & Financial Services Market Revenue, by Application, 2015 - 2024 (USD Million)
        • 8.6.5.2. UAE IoT in Banking & Financial Services Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.6.5.3. UAE IoT in Banking & Financial Services Market Revenue, by End-User, 2015 - 2024 (USD Million)
      • 8.6.6. Saudi Arabia
        • 8.6.6.1. Saudi Arabia IoT in Banking & Financial Services Market Revenue, by Application, 2015 - 2024 (USD Million)
        • 8.6.6.2. Saudi Arabia IoT in Banking & Financial Services Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.6.6.3. Saudi Arabia IoT in Banking & Financial Services Market Revenue, by End-User, 2015 - 2024 (USD Million)
      • 8.6.7. South Africa
        • 8.6.7.1. South Africa IoT in Banking & Financial Services Market Revenue, by Application, 2015 - 2024 (USD Million)
        • 8.6.7.2. South Africa IoT in Banking & Financial Services Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.6.7.3. South Africa IoT in Banking & Financial Services Market Revenue, by End-User, 2015 - 2024 (USD Million)
      • 8.6.8. Rest of MEA
        • 8.6.8.1. Rest of MEA IoT in Banking & Financial Services Market Revenue, by Application, 2015 - 2024 (USD Million)
        • 8.6.8.2. Rest of MEA IoT in Banking & Financial Services Market Revenue, by Component, 2015 - 2024 (USD Million)
        • 8.6.8.3. Rest of MEA IoT in Banking & Financial Services Market Revenue, by End-User, 2015 - 2024 (USD Million)
  •  
  • Chapter 9. Company Profiles
    • 9.1. Microsoft Corporation
      • 9.1.1. Overview
      • 9.1.2. Financials
      • 9.1.3. Product portfolio
      • 9.1.4. Business strategy
      • 9.1.5. Recent developments
    • 9.2. IBM Corporation
      • 9.2.1. Overview
      • 9.2.2. Financials
      • 9.2.3. Product portfolio
      • 9.2.4. Business strategy
      • 9.2.5. Recent developments
    • 9.3. Oracle Corporation
      • 9.3.1. Overview
      • 9.3.2. Financials
      • 9.3.3. Product portfolio
      • 9.3.4. Business strategy
      • 9.3.5. Recent developments
    • 9.4. SAP SE
      • 9.4.1. Overview
      • 9.4.2. Financials
      • 9.4.3. Product portfolio
      • 9.4.4. Business strategy
      • 9.4.5. Recent developments
    • 9.5. Cisco Systems, Inc.
      • 9.5.1. Overview
      • 9.5.2. Financials
      • 9.5.3. Product portfolio
      • 9.5.4. Business strategy
      • 9.5.5. Recent developments
    • 9.6. Accenture
      • 9.6.1. Overview
      • 9.6.2. Financials
      • 9.6.3. Product portfolio
      • 9.6.4. Business strategy
      • 9.6.5. Recent developments
    • 9.7. Infosys Limited
      • 9.7.1. Overview
      • 9.7.2. Financials
      • 9.7.3. Product portfolio
      • 9.7.4. Business strategy
      • 9.7.5. Recent developments
    • 9.8. Vodafone Group Plc
      • 9.8.1. Overview
      • 9.8.2. Financials
      • 9.8.3. Product portfolio
      • 9.8.4. Business strategy
      • 9.8.5. Recent developments
    • 9.9. Software AG
      • 9.9.1. Overview
      • 9.9.2. Financials
      • 9.9.3. Product portfolio
      • 9.9.4. Business strategy
      • 9.9.5. Recent developments
    • 9.10. Capgemini SE
      • 9.10.1. Overview
      • 9.10.2. Financials
      • 9.10.3. Product portfolio
      • 9.10.4. Business strategy
      • 9.10.5. Recent developments

Methodology

Free Analysis

IoT is the interconnection of distinguished embedded computing devices within the existing infrastructure. IoT provides an advanced connectivity of various systems, devices, and services that is not only restricted to machine-to-machine (M2M) communications but also covers various domains, protocols, and applications. In financial services, the interconnection of these devices is likely to guide their business in automating various processes.

The IoT banking & financial services market is anticipated to propel owing to the rising investments made in IoT. In 2017, the global spending in IoT was around USD 800 billion and these are estimated to reach USD 1.4 trillion by 2021. Furthermore, technological investments made by various banks in North America, Europe, and the Asia Pacific in 2017 were USD 57.3 billion as compared to USD 48.4 billion in 2015. Various banks have signed agreements with software providers to utilize their technology solutions. TD Bank Group has signed an agreement with Hydrogen Technology Corporation to develop a financial technology platform, which, in turn, will help the bank to offer financial and investment planning to clients.

Global IoT in Banking Financial Services Market

Digitalization in the banking sector is likely to fuel the IoT in banking & financial services market during the forecast timeframe. In 2015, the Singaporean financial sector invested nearly USD 225 million to establish innovation labs and infrastructure for fintech services. However, increasing cyber-attack scan might hinder this market’s growth. The use of banking with voice assistance is anticipated to present an opportunity to drive this market in the future. Amazon, Google, and Apple have offered their platforms and services to the U.S. Bank for voice assistance banking.

The IoT in banking & financial services market is segmented based on application, component, and end-user. By application, the IoT in banking & financial services market is divided into data management, cybersecurity, proactive services, product planning and marketing, customer relationship management, and data analysis. The data management segment is anticipated to grow at a considerable rate during the estimated timeframe, due to the increasing adoption of online banking facilities in developing economies, such as China and India. Hardware, software, and service comprise the component segment of this market. By end-user, this market includes banks, insurance companies, mortgage companies, brokerage firms, and others.

North America is projected to hold a significant share in the global IoT in banking & financial services market during the forecast time period. North America is the most technologically advanced region; it was a pioneer in adopting IoT in banking sector. Furthermore, rising investments in IoT in the U.S. are expected to propel this regional market. The Asia Pacific is anticipated to grow at a considerable rate in the estimated timeframe, due to the growing investments made related to the usage of technology in the banking sector.

Certain substantial players in global IoT in banking & financial services market are Microsoft Corporation, IBM Corporation, Oracle Corporation, SAP SE, Cisco Systems, Inc., Accenture, Infosys Limited, Vodafone Group plc, Software AG, and Capgemini SE.

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