The global banking mobile market is expected to grow at a compound annual growth rate (CAGR) of 12.2% between 2019 and 2026, according to Allied Market Research.
In a new report, the research firm estimated that the worldwide market will be worth $1.82bn when looking at transactions.
The growth is expected to be driven by the high-rate of which customers are adopting mobile technology and, subsequently,?smartphone-based banking.
The report also suggested that Android users will lead the adoption of the new technology, as they held the biggest market share in 2018. At the time, it accounted for almost three-fourths of the total share.
That being said, iPhone users are catching up with at a CAGR of 12.7%.
North America is expected to maintain its dominance of the market for the foreseeable future as banks in the region are investing heavily in innovative new technologies.
Copyright ? 2020 FinTech Global
