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Neobanking Market Size, Share & Trends Analysis Report by Account Type (Business, Savings), by Application (Enterprises, Personal), by Region (Asia Pacific, Europe), and Segment Forecasts, 2022-2030

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    Report

  • 150 Pages
  • February 2022
  • Region: Global
  • Grand View Research
  • ID: 5546336
Description Jump to:
The global neobanking market size is expected to reach USD 2,048.53 billion by 2030, growing at a CAGR of 53.4% from 2022 to 2030. Factors, such as a faster process of loan approval and funding, compared to traditional banks, with low-interest rates via banking applications are driving the growth of the market. Increasing technological advancements, such as Artificial Intelligence (AI) and IoT, in online banking platforms, are also expected to boost the market growth over the forecast period. The rising popularity of mobile-based applications for making international fund transfers and online payments is also propelling the market growth. Governments in various countries are making efforts to promote internet services across rural areas.



Furthermore, leading players are offering customized services via mobile applications to help customers and enterprises manage their finances, savings, and spendings efficiently. Such factors bode well for the growth of the market. Factors, such as the accelerated expansion of the customer base, innovative revenue generation & modernization models, and increasing product launches globally, are expected to significantly contribute to the market growth over the forecast period. Numerous financial service providers are launching services through mobile apps to make payments faster. For instance, in November 2020, Revolut announced the launch of Google Pay for its customers in Greece, Bulgaria, Estonia, Austria, Hungary, Lithuania, Latvia, Portugal, the Netherlands, and Romania to make online and in-store payments fast and simple.

The outbreak of the COVID-19 pandemic positively impacted the global market on account of the rising dependency on online banking platforms for making payments. Numerous citizens and enterprises around the world preferred simple, safe, and helpful ways to adopt contactless payment technologies. The market players are also responding to the changing requirements of the enterprises and are diversifying their solutions and services to manage the taxing, budgeting, and accounting for small and medium-sized enterprises at lower costs.

Neobanking Market Report Highlights

  • The ability of neobanks to offer a faster and more transparent model and their low-cost structure are the key factors influencing the market growth
  • The growing adoption of mobile and digital banking as a mode of payment by Small-&-Medium-sized Enterprises (SMEs) and large enterprises is expected to propel the growth of the business account segment over the forecast period
  • The personal application segment is estimated to register the fastest CAGR from 2022 to 2030
  • Factors, such as reduced reloading fees, zero withdrawal expenses and monthly fees, and low cost of transactions, are expected to contribute to the segment growth
  • Europe dominated the market in 2021 and is expected to retain its position over the forecast period owing to the entry of a large number of new vendors in the regional market

Table of Contents

Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope and Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
2.1 Neobanking Market - Industry Snapshot & Key Buying Criteria, 2017 - 2030
2.2 Global Neobanking Market, 2017 - 2030
2.2.1 Global neobanking market, by region, 2017 - 2030
2.2.2 Global neobanking market, by account type, 2017 - 2030
2.2.3 Global neobanking market, by application, 2017 - 2030
2.3 Global Neobanking Accounts, 2017 - 2030
2.3.1 Global neobanking accounts, by region, 2017 - 2030
Chapter 3 Neobanking Industry Outlook
3.1 Market Segmentation and Scope
3.2 Market Size and Growth Prospects
3.3 Neobanking Market - Value Chain Analysis
3.3.1 Vendor landscape
3.4 Neobanking Market Dynamics
3.4.1 Market driver analysis
3.4.1.1 Convenience offered to customers
3.4.1.2 Best interest rates offered over traditional banks
3.4.2 Market restraint analysis
3.4.2.1 Low profitability
3.5 Penetration and Growth Prospect Mapping
3.6 Neobanking Market - Porter’s Five Forces Analysis
3.7 Neobanking Market - Key Company Ranking/Company Market Share Analysis, 2020
3.8 Neobanking Market - PESTEL Analysis
Chapter 4 Neobanking Account Type Outlook
4.1 Neobanking Market Share By Account Type, 2021
4.2 Business Account
4.2.1 Business account neobanking market, 2017 - 2030
4.3 Savings Account
4.3.1 Savings account neobanking market, 2017 - 2030
Chapter 5 Neobanking Application Outlook
5.1 Neobanking Market Share By Application, 2021
5.2 Enterprises
5.2.1 Enterprises neobanking market, 2017 - 2030
5.3 Personal
5.3.1 Personal neobanking market, 2017 - 2030
5.4 Others
5.4.1 Neobanking market in other applications, 2017 - 2030
Chapter 6 Neobanking Regional Outlook
6.1 Neobanking Market Share by Region, 2021
6.2 North America
6.2.1 North America neobanking market, 2017 - 2030
6.2.2 North America neobanking market, by account type, 2017 - 2030
6.2.3 North America neobanking market, by application, 2017 - 2030
6.2.4 U.S.
6.2.4.1 U.S. neobanking market, 2017 - 2030
6.2.4.2 U.S. neobanking market, by account type, 2017 - 2030
6.2.4.3 U.S. neobanking market, by application, 2017 - 2030
6.2.5 Canada
6.2.5.1 Canada neobanking market, 2017 - 2030
6.2.5.2 Canada neobanking market, by account type, 2017 - 2030
6.2.5.3 Canada neobanking market, by application, 2017 - 2030
6.3 Europe
6.3.1 Europe neobanking market, 2017 - 2030
6.3.2 Europe neobanking market, by account type, 2017 - 2030
6.3.3 Europe neobanking market, by application, 2017 - 2030
6.3.4 Germany
6.3.4.1 Germany neobanking market, 2017 - 2030
6.3.4.2 Germany neobanking market, by account type, 2017 - 2030
6.3.4.3 Germany neobanking market, by application, 2017 - 2030
6.3.5 U.K.
6.3.5.1 U.K. neobanking market, 2017 - 2030
6.3.5.2 U.K. neobanking market, by account type, 2017 - 2030
6.3.5.3 U.K. neobanking market, by application, 2017 - 2030
6.4 Asia Pacific
6.4.1 Asia Pacific neobanking market, 2017 - 2030
6.4.2 Asia Pacific neobanking market, by account type, 2017 - 2030
6.4.3 Asia Pacific neobanking market, by application, 2017 - 2030
6.4.4 China
6.4.4.1 China neobanking market, 2017 - 2030
6.4.4.2 China neobanking market, by account type, 2017 - 2030
6.4.4.3 China neobanking market, by application, 2017 - 2030
6.4.5 India
6.4.5.1 India neobanking market, 2017 - 2030
6.4.5.2 India neobanking market, by account type, 2017 - 2030
6.4.5.3 India neobanking market, by application, 2017 - 2030
6.4.6 Japan
6.4.6.1 Japan neobanking market, 2017 - 2030
6.4.6.2 Japan neobanking market, by account type, 2017 - 2030
6.4.6.3 Japan neobanking market, by application, 2017 - 2030
6.5 Latin America
6.5.1 Latin America neobanking market, 2017 - 2030
6.5.2 Latin America neobanking market, by account type, 2017 - 2030
6.5.3 Latin America neobanking market, by application, 2017 - 2030
6.5.4 Brazil
6.5.4.1 Brazil neobanking market, 2017 - 2030
6.5.4.2 Brazil neobanking market, by account type, 2017 - 2030
6.5.4.3 Brazil neobanking market, by application, 2017 - 2030
6.6 MEA
6.6.1 MEA neobanking market, 2017 - 2030
6.6.2 MEA neobanking market, by account type, 2017 - 2030
6.6.3 MEA neobanking market, by application, 2017 - 2030
Chapter 7 Competitive Analysis
7.1 Recent Developments and Impact Analysis, by Key Market Participants
7.2 Company Market Share Analysis, 2021
7.3 Competitive Dashboard Analysis
7.4 Company Market Positioning Analysis
7.5 List of Key Emerging Companies/Technology Disruptors/Innovators
7.6 Company Geographic Presence
Chapter 8 Competitive Landscape
8.1 Atom Bank PLC
8.1.1 Company overview
8.1.2 Financial performance
8.1.3 Product benchmarking
8.1.4 Strategic initiatives
8.2 Fidor Bank Ag
8.2.1 Company overview
8.2.2 Financial performance
8.2.3 Product benchmarking
8.2.4 Strategic initiatives
8.3 Monzo Bank Limited
8.3.1 Company overview
8.3.2 Financial performance
8.3.3 Product benchmarking
8.3.4 Strategic initiatives
8.4 Movencorp Inc.
8.4.1 Company overview
8.4.2 Financial performance
8.4.3 Product benchmarking
8.4.4 Strategic initiatives
8.5 Mybank
8.5.1 Company overview
8.5.2 Financial performance
8.5.3 Product benchmarking
8.5.4 Strategic initiatives
8.6 N26
8.6.1 Company overview
8.6.2 Financial performance
8.6.3 Product benchmarking
8.6.4 Strategic initiatives
8.7 Revolut Ltd.
8.7.1 Company overview
8.7.1 Financial performance
8.7.2 Product benchmarking
8.7.3 Strategic initiatives
8.8 Simple Finance Technology Corporation
8.8.1 Company overview
8.8.2 Financial performance
8.8.3 Product benchmarking
8.8.4 Strategic initiatives
8.9 Ubank Limited
8.9.1 Company overview
8.9.2 Financial performance
8.9.3 Product benchmarking
8.9.4 Strategic initiatives
8.10 Webank, Inc.
8.10.1 Company overview
8.10.2 Financial performance
8.10.3 Product benchmarking
8.10.4 Strategic initiatives
8.11 List of Prominent Market Players
List of Tables
Table 1 Neobanking market-Industry snapshot & key buying criteria, 2017-2030
Table 2 Global neobanking market, 2017-2030 (USD Billion)
Table 3 Global neobanking market, by region, 2017-2030 (USD Billion)
Table 4 Global neobanking market, by account type, 2017-2030 (USD Billion)
Table 5 Global neobanking market, by application, 2017-2030 (USD Billion)
Table 6 Global neobanking accounts, 2017-2030 (Billion)
Table 7 Global neobanking accounts, by region, 2017-2030 (Billion)
Table 8 Vendor landscape
Table 9 Neobanking market-Key market driver impact
Table 10 Neobanking market-Key market restraint impact
Table 11 Business account neobanking market, 2017-2030 (USD Billion)
Table 12 Business account neobanking market, by region, 2017-2030 (USD Billion)
Table 13 Savings account neobanking market, 2017-2030 (USD Billion)
Table 14 Savings account neobanking market, by region, 2017-2030 (USD Billion)
Table 15 Enterprises neobanking market, 2017-2030 (USD Billion)
Table 16 Enterprises neobanking market, by region, 2017-2030 (USD Billion)
Table 17 Personal neobanking market, 2017-2030 (USD Billion)
Table 18 Personal neobanking market, by region, 2017-2030 (USD Billion)
Table 19 Neobanking market in other applications, 2017-2030 (USD Billion)
Table 20 Neobanking market in other applications, by region, 2017-2030 (USD Billion)
Table 21 North America neobanking market, 2017-2030 (USD Billion)
Table 22 North America neobanking market, by account type, 2017-2030 (USD Billion)
Table 23 North America neobanking market, by application, 2017-2030 (USD Billion)
Table 24 U.S. neobanking market, 2017-2030 (USD Billion)
Table 25 U.S. neobanking market, by account type, 2017-2030 (USD Billion)
Table 26 U.S. neobanking market, by application, 2017-2030 (USD Billion)
Table 27 Canada neobanking market, 2017-2030 (USD Billion)
Table 28 Canada neobanking market, by account type, 2017-2030 (USD Billion)
Table 29 Canada neobanking market, by application, 2017-2030 (USD Billion)
Table 30 Europe neobanking market, 2017-2030 (USD Billion)
Table 31 Europe neobanking market, by account type, 2017-2030 (USD Billion)
Table 32 Europe neobanking market, by application, 2017-2030 (USD Billion)
Table 33 Germany neobanking market, 2017-2030 (USD Billion)
Table 34 Germany neobanking market, by account type, 2017-2030 (USD Billion)
Table 35 Germany neobanking market, by application, 2017-2030 (USD Billion)
Table 36 U.K. neobanking market, 2017-2030 (USD Billion)
Table 37 U.K. neobanking market, by account type, 2017-2030 (USD Billion)
Table 38 U.K. neobanking market, by application, 2017-2030 (USD Billion)
Table 39 Asia Pacific neobanking market, 2017-2030 (USD Billion)
Table 40 Asia Pacific neobanking market, by account type, 2017-2030 (USD Billion)
Table 41 Asia Pacific neobanking market, by application, 2017-2030 (USD Billion)
Table 42 China neobanking market, 2017-2030 (USD Billion)
Table 43 China neobanking market, by account type, 2017-2030 (USD Billion)
Table 44 China neobanking market, by application, 2017-2030 (USD Billion)
Table 45 India neobanking market, 2017-2030 (USD Billion)
Table 46 India neobanking market, by account type, 2017-2030 (USD Billion)
Table 47 India neobanking market, by application, 2017-2030 (USD Billion)
Table 48 Japan neobanking market, 2017-2030 (USD Billion)
Table 49 Japan neobanking market, by account type, 2017-2030 (USD Billion)
Table 50 Japan neobanking market, by application, 2017-2030 (USD Billion)
Table 51 Latin America neobanking market, 2017-2030 (USD Billion)
Table 52 Latin America neobanking market, by account type, 2017-2030 (USD Billion)
Table 53 Latin America neobanking market, by application, 2017-2030 (USD Billion)
Table 54 Brazil neobanking market, 2017-2030 (USD Billion)
Table 55 Brazil neobanking market, by account type, 2017-2030 (USD Billion)
Table 56 Brazil neobanking market, by application, 2017-2030 (USD Billion)
Table 57 MEA neobanking market, 2017-2030 (USD Billion)
Table 58 MEA neobanking market, by account type, 2017-2030 (USD Billion)
Table 59 MEA neobanking market, by application, 2017-2030 (USD Billion)
List of Figures
Fig. 1 Market segmentation and scope
FIG. 2 Global neobanking market, 2017-2030 (USD Billion)
FIG. 3 Neobankingmarket-Value chain analysis
FIG. 4 Neobankingmarket dynamics
FIG. 5 Key opportunities prioritized
FIG. 6 Neobankingmarket-Porter’s five forces analysis
FIG. 7 Neobankingmarket-Key company market share analysis, 2021
FIG. 8 Neobankingmarket-PESTEL analysis
FIG. 9 Neobanking market, by account type, 2021
FIG. 10 Neobankingmarket, by application, 2021
FIG. 11 Neobankingmarket, by region, 2021
FIG. 12 Neobankingmarket-Regional takeaways
FIG. 13 North America neobanking market-Key takeaways
FIG. 14 Europe neobanking market-Key takeaways
FIG. 15 Asia Pacific neobanking market-Key takeaways
FIG. 16 Latin America neobanking market-Key takeaways
FIG. 17 MEA neobanking market-Key takeaways

Companies Mentioned

  • Atom Bank PLC
  • Fidor Bank Ag
  • Monzo Bank Limited
  • Movencorp Inc.
  • Mybank
  • N26
  • Revolut Ltd.
  • Simple Finance Technology Corporation
  • Ubank Limited
  • Webank, Inc.

Methodology

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Table Information

Report AttributeDetails
No. of Pages150
PublishedFebruary 2022
Forecast Period2022 - 2030
Estimated Market Value ( USD ) in 2022 $ 66.82 Billion
Forecasted Market Value ( USD ) by 2030 $ 2048.53 Billion
Compound Annual Growth Rate53.4%
Regions CoveredGlobal
No. of Companies Mentioned10

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