Neo and Challenger Bank Market Share, Size 2021 New Report 2030 : Research Methodology Focuses on Exploring Major Factors Influencing the Industry Development

In a recent published report, Kenneth Research has updated the market report for Neo and Challenger Bank Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Neo and Challenger Bank Market products.

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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

Global Neo and Challenger Banks Market is estimated to reach $356 Million by 2025; growing at a CAGR of 45.8% from 2017 to 2025. Neo and challenger banks are on the verge to revolutionize the banking sector. Challenger bank is a modernized form of traditional bank, which functions without physical branches. Neo banks provide technology-enabled financial services through web and mobile interface. It is an emerging trend in the U.S. and Asian countries like China. Also, these banks have gained momentum in the European region. The arrival of new players in the market has led to an intense competition among existing digital banks and traditional banks.

Enhanced customer convenience offered by the banks, cost-efficiency and fast-servicing, heathier interest rates, and growing smart phone devices penetration are the major key drivers to boost the neo and challenger bank market. In addition, proactive banking regulations to grant licenses and approvals have also fueled the growth of the market. However, security and privacy of the financial data may restrict the market from growing. Moreover, growing investment in Neo banking is likely to gain significant impetus during the forecast timeframe.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

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The global neo and challenger bank is segmented into bank type, and country. The neo banks, and challenger banks are considered in the bank type segment. While, the U.S, Germany, UK, Australia, and China are classified under the country segment.

Prominent players operating in the market include Movencorp, Inc., Atom Bank Plc, Simple Finance Technology Corporation, Pockit Limited, Fidor Bank AG, Number26 GmbH, Monzo Bank Limited, MyBank (Alibaba Group), WeBank, and UBank Limited among others.

The key takeaways from the report
The report will provide detailed analysis of the Global Neo and Challenger Bank Market with respect to major segments such as bank type, and country. The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025. Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report. An exhaustive regional analysis of the Global Neo and Challenger Bank Market has been included in the report. Profile of the key players in the Global Neo and Challenger Bank Market will be provided, which include key financials, product & services, new developments and business strategies

Scope of the Global Neo and Challenger Bank Market
Bank Type Segments

Neo Bank
Challenger Bank
Country Segments

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