What’s So Trendy about IoT in Banking and Financial Services Market That Everyone Went Crazy over It? | Hewlett Packard Enterprise Development LP, IBM, Infosys Limited, Microsoft

Financial institutions and retail banks in particular are investing increasing amount of funds into IoT infrastructure that is supporting the new network of connected devices. It expected that retail banks will be looking forward to spend largely and invest heavily on IoT technology initiatives in the banking and financial services industry. Payment leaders such as Visa and MasterCard have announced plans to support payments functionality across a whole array of smart devices and appliances so that any appliance with an internet connectivity could potentially become e-commerce enabled.

 

The resulting data explosion from IoT powered connected devices is expected to hold infinite opportunity that is capable of revolutionizing this sector. During the next five years, financial institutions are expected to allocate an average of 0.4% of their total revenue to the development of IoT technology. A large amount of their IoT budget is estimated to account for monitoring financial products and services. This growing investment in IoT technology is expected to boost the IoT in banking and financial services market in the coming years.

 

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“The increasing application of IoT within banking and financial services is giving rise to new data-centric business models and innovative processes. IoT’s compelling benefits of faster claims settlement, effective underwriting and improved internal efficiency is drawing attention of investors from across the spectrum. This development is largely propelling the growth of the IoT in banking and financial services market.”

 

This research study aims at providing the reader with quantitative and qualitative analysis of the global IoT in banking and financial services market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further, across all the major countries. The supply side analysis covers the prominent players and their regional and global presence and key business strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa, and Latin America.

 

Some of the major players operating in the global IoT in banking and financial services market include Hewlett Packard Enterprise Development LP, IBM, Infosys Limited, Microsoft, Oracle, SAP SE, Software AG, Tata Consultancy Services Limited, Vodafone Group Services Limited and EdgeVerve Limited amongst others.

 

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IoT in Banking and Financial Services Market:

 

By Solution

Customer Management

Payment Management

Security & Monitoring

Others

 

IoT in Banking and Financial Services Market By Service

Professional Services

Business Consulting Services

Integrated Services

Deployment Services

Others

Managed Services

By Organization Size

Small and Medium Enterprise

Large Enterprise

 

By End User

Banks

Public

Private

Non-banking Financial Companies

Insurance

 

IoT in Banking and Financial Services Market By Geography

North America

USA

Canada

Mexico

Rest of North America

Europe

France

The UK

Spain

Germany

Italy

Nordic Countries

Denmark

Finland

Iceland

Sweden

Norway

Benelux Union

Belgium

The Netherlands

Luxembourg

Rest of Europe

Asia Pacific

China

Japan

India

New Zealand

Australia

South Korea

Southeast Asia

Indonesia

Thailand

Malaysia

Singapore

Rest of Southeast Asia

Rest of Asia Pacific

Middle East and Africa

Saudi Arabia

UAE

Egypt

Kuwait

South Africa

Rest of Middle East & Africa

Latin America

Brazil

Argentina

Rest of Latin America

 

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Contact Us:
Company: Absolute Markets Insights
Name: Shreyas Tanna
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Email id: sales@absolutemarketsinsights.com
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