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Global Neobanking Market 2021 Analysis by Overview, Growth, Top Companies, Demand and Forecast to 2028

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Swapnil GVR
Global Neobanking Market 2021 Analysis by Overview, Growth, Top Companies, Demand and Forecast to 2028

The global neobanking market size was valued at USD 34.77 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 47.7% from 2021 to 2028. Neobanks offer a complete range of banking solutions without any physical branches or offices. The increasing demand for customer convenience in the banking sector is expected to drive the growth of the market. 

 

The increased penetration of smartphones and the internet across the globe has boosted the market potential for neobanks. Moreover, the growing customer interest in digital banking services is fueling competition across the globe, encouraging neobanks to come up with different features such as sign-up incentives and overdraft protection. Numerous neobanks operate under a freemium model, under which they offer their services for free, thus attracting a wide user base. Customers are also widely adopting neobanking services owing to benefits such as personal finance management features, such as low-interest rates, and improved user experience.

 

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The savings account segment is expected to witness significant growth over the forecast period. Neobanking websites have a user-friendly platform that is specially designed to protect against cyberattacks and enhance the online ecosystem of savings accounts. Additionally, neobanks can monitor the banking network and easily detect cyberattacks. Customers can make overseas transactions more securely, thereby creating growth opportunities for the segment over the forecast period.

 

Key Player Mentioned:

  • Atom Bank PLC
  • Fidor Bank Ag
  • Monzo Bank Limited
  • Movencorp Inc.
  • MyBank
  • N26
  • Revolut Ltd.
  • Simple Finance Technology Corporation

Application Segment Analysis:

 

  • Enterprises
  • Personal
  • Others

Product Segment Analysis:

 

  • Business Account
  • Savings Account

Segmentation by Region :

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

Access Press Release @ https://www.grandviewresearch.com/press-release/global-neobanking-market

COVID-19 Impact:

The outbreak of the COVID-19 pandemic has significantly increased the demand for antiviral medicines globally. The treatment of novel coronavirus has increased the demand for broad-spectrum Glucose to manage the disease. Remdesivir, favipiravir, oseltamivir, and other combination medicines are highly prescribed for the treatment of COVID-19. Moreover, governments are increasing funding to pharmaceutical companies to develop novel therapeutics against COVID-19. For instance, in June 2021, the U.S. government has announced an investment of more than USD 3 billion to fasten the discovery, development, and manufacturing of antiviral medicines for COVID-19 treatment. The rising incidence of disease coupled with increasing R&D will increase the demand for Glucose in the next 2 to 3 years.

KEY aspects covered in the report include:

  • The market size and industry growth rate of the global and regional market across various segments
  • The region or the sub-segment that is expected to drive the Neobanking market in the forecast period 2021-2028
  • Key companies operating in the global Neobanking market and their market share
  • The Factors that are estimated to drive the Neobanking Market growth
  • Key opportunities in the Neobanking market
  • Key technological advancements and market trends that shape the market

Good Reasons to Buy a Global Neobanking Market Report:

  • Offers detailed market breakdown and data triangulation that will help guide the market trends.
  • The methodology used in the report gives the absolute authentic data that helps advising whether the market has an opportunity in the upcoming years.
  • Provides a detail analysis about the Covid-19 impact on the market and how it will help boost the market in the near future.
  • Give’s a thorough analyst’s viewpoint which guides the client through market collaterals for the better opportunities in the market.
  • Pinpoints the most valued region and how the market can be expanded in the industry to generate more revenue with all the important government guidelines and environmental policies.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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