San Jose, California (PRWEB) February 16, 2010
Mobile banking is emerging as a key electronic channel for the global banking and financial services industry. The ubiquitous nature of mobile devices and services, and the ability of mobile banking services to reduce overall operational costs, streamline operations, and expand customer base are expected to boost prospects in the industry. Increasing adoption of mobile phones among general consumers, particularly among the younger generation (in the 18-34 years age group), and rapid rise in demand for mobile payments are expected fuel demand for mobile banking services. The industry is also expected to benefit from favorable government and regulatory specifications, which are aimed at providing banking services to unbanked customers to promote economic development.
The United States, Europe and Asia-Pacific dominate the global mobile banking market, as stated by the new market research report on mobile banking. The market for mobile banking is set to achieve tremendous growth, with Asia-Pacific emerging as the predominant market in terms of customer base. North America and Europe are characterized by high usage of mobile devices for Internet access, as a result of which mobile banking is an extension of online banking services. In Europe, mobile banking services are still in early stages, and regarded primarily as 'convenience providers' and 'value additions' rather than revenue generators. On the other hand, the Middle East and African markets are expected to benefit from the mobile banking technology's ability to provide financial services to remote areas.
Rapid growth of mobile banking services is driving banks to devise strategies to sustain presence in an intensely competitive market. Success of a bank's mobile banking service is dependent on its ability to retain customer base and achieve cost reductions. Key players profiled in the report include Bank of America, JPMorgan Chase & Co., Wells Fargo & Co., Citigroup Inc., , ClairMail Inc, Firethorn Holdings LLC, Fronde Anywhere Ltd, Industrial & Commercial Bank of China Limited, Macalla Software Ltd, mFoundry, Monitise plc, MShift Inc., and Sybase Inc., among others.
The report titled "Mobile Banking: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, competitive scenario, product introductions/innovations, and recent industry activity. The study analyzes market data and analytics in terms of number of customers for The United States, Canada, Europe, Asia-Pacific, and Rest of World.
For more details about this comprehensive market research report, please visit - http://www.strategyr.com/Mobile_Banking_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 800 people worldwide and publishes more than 1100 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
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