The Europe Mobile Banking Market would witness market growth of 16.0% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe Mobile Banking Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $392.9 Million by 2031. The UK market is exhibiting a CAGR of 15% during (2024 - 2031). Additionally, The France market would experience a CAGR of 16.8% during (2024 - 2031).
Users can deposit checks remotely by capturing images of them using their mobile devices and submitting them through the banking app. This service gives users more convenience and flexibility by removing the requirement to visit an ATM or bank location to deposit checks. Also, some banking apps offer features for applying for loans, mortgages, or credit products directly from the app. The loan application process is simpler for users by allowing them to submit loan applications, upload necessary documents, and monitor the status of their applications via the banking platform.
Likewise, banking apps often include digital wallet functionalities that allow users to digitally store payment cards, loyalty cards, and coupons on their smartphones. Users can make contactless payments in stores, online purchases, and peer-to-peer payments using their mobile wallets, enhancing convenience and security.
99.7 % of enterprises making e-sales in 2022 in the EU accommodation sector received orders via websites or apps. In 2022, 45.9 % of large enterprises conducted e-sales, corresponding to an e-sales value of 22.9 % of total turnover in this size class. Of the medium-sized enterprises, 30.2 % made e-sales, generating 15.1 % of total turnover in this size class. By contrast, 20.8 % of small enterprises engaged in e-sales, generating 8.1 % of the turnover of such enterprises. Therefore, the increasing e-commerce sector in the region is driving the market’s growth.
Free Valuable Insights: The Global Mobile Banking Market will Hit USD 5.7 Billion by 2031, at a CAGR of 16.5%
Based on Platform, the market is segmented into Android, iOS, and Others. Based on Transaction, the market is segmented into Consumer-to-business, and Consumer-to-consumer. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Platform
By Transaction
By Country
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