Global Neobanking Market – Size, Analysis, Forecast & Competition Benchmarking


Report Formats

Report ID – TGRI7391

Report Segment | Technology > Information & Communications Technology


Neobanking Market Overview:

The market for Neobanking was valued at XX Mn USD in the year 2023 and expected to reach XX Mn by the year 2030. The CAGR for the market is XX% during the period 2019 -2030.

Neo banks are first financial digital company which provides services like banking and finance but does not  have a physical presence. Neo Banking provides all the services which physical banking provides like checking account , credit and debit cards, payments, funds transfer, vehicle and personal loans. With the increase of digitalization of banking services has increased the demand for Neo Banking. The increase in use of smartphones  impacts the growth of the Neo banking market . Neo banking market is segmented on the basis of  account type like saving account or current account and service type like mobile banking, UPI, checking account loans and balance and others. Low in costs and user friendly services have an impact on the growth of Neo banking . Neo banking provides their clients security by giving consumers realtime information including investing , insurances etc.

NeoBanking Market

Neobanking Market Dynamics:

NeoBanking Market DynamicsOpportunities

Neobanking Market Report Segments Overview:

NeoBanking Market Segment Analysis

By  Account Type :

The Neo banking market segment further is divided into two types: Current account and saving account. Neo banking has become the most preferred method of payment for large amounts in various industries throughout the world. The potential of neo banking provides customers, suppliers and stakeholder convenience with growth.

By Application Type :

The market is accounting more than growth in sales by credit management, transaction management services provided by these platforms. Various  services provided by Neo bank which expand their product line in order  to better serve the customer . The business sector is expected to showcase strong growth due to business focus on expansion strategies and high investment in customer acquisition strategies in digital space.

Neobanking Market Regional Outlook:

NeoBanking Market Geo Outlook

North America:

Neobank in North America is predicted to grow at a significantly high rate due to strong digital adoption and presence of leading players in the region. North America focuses on substantial investments capital which provides neobanks with necessary funding to grow and innovate. This region showed significant market growth in the Neo banking sector with many startup companies establishing many players entering this sector. North America regulatory environment, financial bodies and many startup companies  contribute a huge role in Neobanking growth. These factors combined with consumers and supportive investment which promise the future growth for the Neo banking industry in the North America region.

Asia Pacific:

The Neo banking in Asia pacific showed a growth opportunity in the market over a period of time. Neo banking adoption in the Asia  region is expecting rapid growth, with notable adoption in China and South korea. As the neo banks have faced more challenges in some markets in the Asia pacific region because of regulatory barriers of establishing new companies in a market . Some of the most important regulator driven developed neo banking sectors are Malaysia, Indonesia, pakistan. In particular  Malaysia noted progress with multiple applicants applying for licences to establish the sectors. In April 2022 Five digital banking licences were awarded making a milestone in the region. Additionally india also noticed growth in digital payment services by various companies offering services

Europe:

The Neo banking in Europe region is the most important shareholder in the global neo banking market and it is expected to expand high during the next period. Italy, Spain, the U.K, France have huge market share. The Netherlands have a supportive regulatory environment for Neo banking allowing neo banks to operate in Europe banking licence , EMI licence. Europe banking licence provides neo banks full fledged banking services actress the Region. EMI licences enable neo bank to provide services like payment and store money digitally. In europe  regulations promote the open banking in financial sector

South America:

Neo banking in South America is getting more attention now as it provides solutions for large scale financial institutions in the region. These fully online banking ,mobile banking models offer  more services than traditional banking provides.  In South America neo neo-banking startups such as Nubank, Albo,Uala receive high foreign investment to provide services to un-banked consumers in the South America region. Neo banking faces high challenging  barriers to entry and establish startups in borders..challenges like Regulation for banking licences which vary between countries and are extremely costly.

Neobanking Market Players Mapping:

RevolutUK
MonzoUK
ChimeUK
N26US
Fidor BankGermany
Ubank LimitedGermany
VaroSouth Africa
Starling BankUS
AspirationUK
WebankChina
Atom BankUK
Leaders Board




Neobanking Market Coverage:

By Account Type:

  • Current Account
  • Saving Account

By Application Type:

  • Personal
  • Enterprises

By Region:

  • North America (leading Country – XXX)
    • US
    • Canada
    • Mexico
  • Asia Pacific (leading Country – XXX)
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of APAC
  • Europe (leading Country – XXX)
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • South America (leading Country – XXX )
    • Brazil
    • Argentina
    • Rest of South America
  • MEA (leading Country – XXX)
    • UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • Rest of MEA

Neobanking Market Report Outlook

Neobanking Market Coverage2019- 2030
Neobanking  Market Fastest Growing RegionNorth America
Neobanking Market Fastest Growing SegmentXX
Neobanking Market Forecast2024 – 2030
Neobanking Market Historical Data2019 – 2022
Neobanking Market Base Year2023
Neobanking Market Competition Benchmarking10 + Key Players Mapping 
Neobanking Market Report FormatPPT + PDF + Excel

Research Methodology:

  • Secondary research
  • Primary research
  • Data Models    
  • Primary Research: 

Grand Report Insights conducts primary research by directly engaging with industry experts, stakeholders, and key market players. This approach allows us to gather firsthand information and insights, ensuring the accuracy and relevance of our research findings. We employ a variety of methods for primary data collection, including email surveys and telephonic interviews.

Email Surveys: We use email surveys to reach a wide range of respondents and gather their feedback on specific topics related to the market. Our surveys are carefully designed to elicit detailed responses that help us understand market trends, challenges, and opportunities. By analyzing the data from these surveys, we are able to identify key insights and trends that inform our research.

Telephonic Interviews: We conduct telephonic interviews with industry experts and key stakeholders to gain deeper insights into market dynamics. These interviews allow us to ask probing questions and have in-depth discussions that may not be possible through other means. By speaking directly with industry insiders, we are able to validate our findings and gather unique perspectives that enhance the depth and quality of our research.

Through a combination of email surveys and telephonic interviews, Grand Report Insights is able to gather comprehensive and reliable primary data that forms the foundation of our market research reports.

  • Primary Respondents Bifurcation
















Secondary Research: In addition to primary research, we rely on secondary sources of information to supplement our findings. These sources include industry reports, articles, and data from reputable organizations. By leveraging existing research and data, we enhance the depth and breadth of our analysis, providing clients with comprehensive insights into their industries.

Global Market Size – Top Down & Bottom Up Approach

In our market sizing analysis, we meticulously examined the revenue generated by each segment within the global market. Utilizing a combination of top-down and bottom-up approaches, we provide a detailed breakdown of revenue contributions from various segments. This analysis offers valuable insights into the revenue distribution across different segments, enabling businesses to identify lucrative opportunities and tailor their strategies accordingly.

Regional Revenue Analysis

Our regional revenue analysis provides a comprehensive view of market dynamics across different regions. Leveraging both top-down and bottom-up approaches, we evaluated the revenue generated in each region to understand regional variations in market performance. This analysis offers valuable insights into regional market trends, helping businesses make informed decisions regarding market expansion and resource allocation.

Market Sizing Using Top-Down Approach

In our market sizing using the top-down approach, we started by analyzing macroeconomic indicators and industry data to estimate the total addressable market (TAM). We then segmented the TAM based on relevant criteria to arrive at the market size for each segment. This approach provides a high-level view of the market size, serving as a valuable reference point for further analysis.

Market Sizing Using Bottom-Up Approach

Conversely, our market sizing using the bottom-up approach involved aggregating individual sales data from companies operating in the market to estimate the total market size. This granular approach allows for a detailed assessment of market size, providing insights into the revenue generated by each player and segment. This method is particularly useful for validating market trends and identifying growth opportunities at a more detailed level.

Data Models: Grand Report Insights employs advanced data modeling techniques to analyze and interpret market trends, patterns, and dynamics comprehensively. By applying sophisticated statistical and analytical methods to a wide range of market data, including primary and secondary research, macro-economic factors, and country-level data, we uncover hidden insights and forecast future market developments with a high degree of accuracy. 

Our approach includes developing data models, tracking sector activities, creating company profiles, and conducting in-depth analysis to provide clients with valuable insights for informed decision-making.

Macro-Economic Factor Analysis: At Grand Report Insights, we carefully evaluate the impact of macro-economic factors such as GDP growth, inflation rates, and government policies on the market. By understanding the broader economic context, we provide our clients with insights into how these factors may influence market dynamics and trends.

Our analysis extends to the country level, allowing us to understand regional variations in the market. By analyzing market data at this level, we identify regional trends and opportunities, providing our clients with a comprehensive view of the market landscape.

Company Profiles

Our company profiles are meticulously crafted to provide clients with a holistic view of key market players. We analyze their product and service offerings in detail, evaluating the uniqueness and competitiveness of each offering. Our vendor analysis dives deep into their relationships with suppliers and partners, shedding light on the strength and stability of their supply chain.

We also assess their market position, examining factors such as market share, brand reputation, and customer loyalty. Financial data analysis includes revenue, profit margins, and financial stability indicators, offering insights into their financial health and growth potential.

Furthermore, we track competitors’ movements to understand how they are positioning themselves in the market and how key players are responding. R&D activities are scrutinized to gauge innovation capabilities and future product development strategies.

Our analysis extends to joint ventures and collaborations, evaluating their impact on market positioning and growth strategies. Finally, we closely monitor product launches to assess market acceptance and potential impact on the competitive landscape.

Continuous Updates: Our research is updated regularly to reflect the latest market developments and trends. By staying abreast of industry news and events, we ensure that our clients have access to the most current and relevant information.

Sector Activities: We monitor activities within the sector to identify emerging trends and opportunities. By tracking market developments such as new product launches, partnerships, and acquisitions, we provide clients with insights into market dynamics.

Deals Mapping: Grand Report Insights maps out mergers, acquisitions, and partnerships within the market. This helps us understand the competitive landscape and identify potential areas of growth and collaboration for our clients.

Market Models Dynamics: We analyze the dynamics of market models to understand how they evolve over time. By studying market structures and trends, we provide clients with insights into market dynamics and potential future developments.

Business Interactions: Our team engages with businesses to gather insights and feedback on market conditions and trends. By building relationships with industry players, we gain valuable perspectives that inform our research and analysis.

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