Neo and Challenger Bank Market 2021 Latest Research Report, Current Scenario, Size, Share, Trend and Forecast to 2027

global neo and challenger bank market generated $20.4 billion in 2019, and is estimated to reach $471.0 billion by 2027, registering a CAGR of 48.1% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenario.

Download Research Sample with Industry Insights (200+ Pages PDF Report) @ https://www.alliedmarketresearch.com/request-sample/1798

Convenience & flexibility, higher interest rates offered as compared to traditional banks, and favorable regulatory scenario drive the growth of the global neo and challenger bank market. However, challenges related to profitability for digital banks hinder the market growth. On the other hand, rise in penetration of internet and smartphones along with untapped potential in developing nations create new opportunities in the coming years.

Allied Market Research recently published a report titled, “Neo and Challenger Bank Market: Global Opportunity Analysis and Industry Forecast 2020-2027’’.The market report presents the top factors and market trends that are real behind the growth of the market. It also offers an extensive study of evolving market dynamics, top investment pockets, key sections, competitive scenarios, value chain, and major investment prospects. These figures and data are helpful for startups, stakeholders, investors, and the key market players to obtain useful understandings and visions on the market and implement necessary strategies based on the same.

Neo and Challenger Bank Market Competitive Analysis:

The key players profiled in the global neo and challenger bank market analysis are Atom Bank plc, Fidor Solutions AG, Monzo Bank Limited, Movencorp, Inc., MYbank, Number26 GmbH, Simple Finance Technology Corporation, Tandem Bank, UBank limited, and WeBank. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

Covid-19 Impact on the Global Neo and Challenger Bank Market:

Neo and Challenger Bank Market Research Report offers an outline of the market based on basic parameters such as market size, sales analysis, and key drivers. The market is expected to expand on a large scale during the forecast period (2021-2024). This report includes COVID-19 impacts on the market. The unprecedented arrival of the coronavirus pandemic (COVID-19) has troubled the complete lifestyles. This in turn has affected some of the market situations along with introducing new norms. The broad view of the research report, therefore, provides the users with the total impacts of covid19 on the industry and the market players.

Covid-19 scenario:

During the coronavirus pandemic, the revenue generated from interchange fees for neo and challenger banks will be reduced for few months, however, will rebound quickly.
Depositors who seek more safety during the economic turbulence do no favor neo banks, and been transferring their deposits to traditional and major banks, according to the Federal Reserve.
Neo and challenger banks have been rolling out contactless cards to curb the transmission of coronavirus.

Get detailed COVID-19 impact analysis on the Neo and Challenger Bank Market @ https://www.alliedmarketresearch.com/request-for-customization/1798?reqfor=covid

Neo and Challenger Bank Market Segmentation:

The report offers a detailed segmentation of the global neo and challenger bank market based on service type, end user, and region. Based on service type, the loans segment contributed to the largest share in 2019, accounting for nearly one-third of the total share, and is estimated to maintain its dominant position during the forecast period. However, the payment & money transfer segment is expected to register the highest CAGR of 49.7% from 2020 to 2027.

Based on end user, the business segment accounted for the largest share in 2019, holding nearly three-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the personal segment is estimated to portray the highest CAGR of 50.0% during the forecast period.

Neo and Challenger Bank Market Geographical Analysis:

The report also provides a regional analysis of the market along with the competitive setting in each region. The research report encompasses regions including North America (the United States, Canada, and Mexico), Europe (Germany, France, UK, Russia, and Italy), Asia-Pacific (China, Japan, Korea, India, and Southeast Asia), South America (Brazil, Argentina, and Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa). These segmentations aid the market players in framing respective tactics, thus leading way to lucrative opportunities to attain their objectives.

Based on region, Europe contributed the highest share, accounting for more than two-fifths of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 51.3% from 2020 to 2027.

Make A Purchase Enquiry at : https://www.alliedmarketresearch.com/purchase-enquiry/1798

Key market segments

By Service Type

Loans
Mobile Banking
Checking & Savings Account
Payment & Money Transfer
Others

By End User

Business
Personal

By Region

North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Netherlands
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Australia
Singapore
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology

1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools & models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.Key findings

2.1.1.Top impacting factors
2.1.2.Top investment pockets

2.2.CXO perspective

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope
3.2.Key Forces Shaping Neo and Challenger Bank Market

3.2.1.Moderate bargaining power of suppliers
3.2.2.High bargaining power of buyer
3.2.3.Moderate threat of substitutes
3.2.4.High threat of new entrants
3.2.5.High competitive rivalry

3.3.Market dynamics

3.3.1.Drivers

3.3.1.1.Convenience offered to consumers
3.3.1.2.Higher interest rates offered over traditional banks
3.3.1.3.Regulations supporting market growth

3.3.2.Restraint

3.3.2.1.Key challenge of acquisition of customers
3.3.2.1.Profitability: A challenge for digital banks

3.3.3.Opportunities

3.3.3.1.Untapped potential of emerging economies
3.3.3.2.Increase in smartphone and internet penetration

Contact:

David Correa

5933 NE Win Sivers Drive

#205, Portland, OR 97220

United States

USA/Canada (Toll Free):

+1-800-792-5285, +1-503-894-6022, +1-503-446-1141

UK: +44-845-528-1300

Hong Kong: +852-301-84916

India (Pune): +91-20-66346060

Fax: +1(855)550-5975

help@alliedmarketresearch.com

Web: https://www.alliedmarketresearch.com

About Us

AMR (Allied Market Research) is an end-to-end market research and business-consulting annex of Allied Analytics LLP based in Portland, Oregon. AMR takes pride in offering global enterprises as well as SMEs with market research reports and business intelligence solutions that are nonpareil in nature. AMR comes up with a well-targeted view to deliver rich business insights help its clientele make tactical business choices and accomplish viable growth in their respective market sphere.

We share professional corporate affairs with a number of renowned organizations that helps us in digging out proper market data which, in turn, gives way to utmost accuracy in our market forecasting. Each and every data presented in our reports is exclusively hauled out through primary discussions with top representatives from the leading organizations of the respective domains.

This release was published on openPR.