The Latin America, Middle East and Africa Video Banking Service Market would witness market growth of 15.1% CAGR during the forecast period (2023-2030).
Many banks aim to provide an omnichannel experience by integrating video banking into their digital strategy. Customers can seamlessly switch between in-person branch visits, online banking, mobile apps, and video banking. In addition, video banking can be more cost-effective for financial institutions compared to maintaining physical branches. It permits them to reach a wider customer base without the expenses associated with physical locations. As with any financial service, video banking must comply with industry rules and data protection laws. This aspect is essential for institutions operating across multiple jurisdictions. Advancements in video conferencing technology, including better video quality, improved bandwidth, and the development of mobile apps, have contributed to the growth of the market. Customer feedback is important for the success of video banking services. Banks must continuously improve their platforms to ensure a user-friendly and efficient experience.
High-net-worth individuals often use video banking to access wealth management services. This includes investment portfolio reviews, asset allocation discussions, and advice on managing substantial financial assets. Video banking can bridge the gap for customers in geographically underserved areas who may not have easy access to physical bank branches.
According to IMF, banks in the Gulf Cooperation Council (GCC) countries, with strong balance sheets supported by government largesse, have been eager to expand. Fintech revenues are expected to increase from $1.5 billion in 2022 to $3.5–$4.5 billion by 2025 in the Middle East and North Africa region as fintech in the banking sector grows from less than 1 percent to 2–2.5 percent. Some Middle Eastern countries could even achieve rates equal to those of other emerging market economies, such as Brazil's 5–7 percent and Nigeria's 12–15 percent. Middle Eastern countries are increasingly interested in building an ecosystem conducive to financial innovation, with several trying to become fintech hubs, including Abu Dhabi, Bahrain, Dubai, and Riyadh. The Middle East's growing banking sector aligns with a tech-savvy approach to banking, making video banking a modern and appealing option for customer engagement. The aforementioned elements will aid in the expansion of the regional market.
The Brazil market dominated the LAMEA Video Banking Service Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3,102.6 million by 2030. The Argentina market is showcasing a CAGR of 15.7% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 14.7% during (2023 - 2030).
Based on Application, the market is segmented into Banks, Credit Union, and Others. Based on Component, the market is segmented into Solution, and Services. Based on Deployment Mode, the market is segmented into On-Premise, and Cloud. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Video Banking Service Market is Projected to reach USD 172.3 Billion by 2030, at a CAGR of 12.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AU Small Finance Bank Limited, Barclays PLC, Glia Technologies, Inc., STAR Financial Bank (STAR Financial Group, Inc.), NatWest Group Plc, Guaranty Trust Bank Limited, StonehamBank, U.S. Bank, Cisco Systems, Inc., and Vidyard.
Scope of the Study
Market Segments Covered in the Report:
By Application
- Banks
- Credit Union
- Others
By Component
By Deployment Mode
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- AU Small Finance Bank Limited
- Barclays PLC
- Glia Technologies, Inc.
- STAR Financial Bank (STAR Financial Group, Inc.)
- NatWest Group Plc
- Guaranty Trust Bank Limited
- StonehamBank
- U.S. Bank
- Cisco Systems, Inc.
- Vidyard
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 LAMEA Video Banking Service Market, by Application
1.4.2 LAMEA Video Banking Service Market, by Component
1.4.3 LAMEA Video Banking Service Market, by Deployment Mode
1.4.4 LAMEA Video Banking Service Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
Chapter 4. Competition Analysis - Global
4.1 KBV Cardinal Matrix
4.2 Recent Industry Wide Strategic Developments
4.2.1 Partnerships, Collaborations and Agreements
4.2.2 Product Launches and Product Expansions
4.2.3 Acquisition and Mergers
4.3 Top Winning Strategies
4.3.1 Key Leading Strategies: Percentage Distribution (2019-2023)
4.3.2 Key Strategic Move: (Partnerships, Collaborations & Agreements : 2021, Sep – 2023, Sep) Leading Players
4.4 Porter’s Five Forces Analysis
Chapter 5. LAMEA Video Banking Service Market, By Application
5.1 LAMEA Banks Market, By Country
5.2 LAMEA Credit Union Market, By Country
5.3 LAMEA Others Market, By Country
Chapter 6. LAMEA Video Banking Service Market, By Component
6.1 LAMEA Solution Market, By Country
6.2 LAMEA Services Market, By Country
Chapter 7. LAMEA Video Banking Service Market, By Deployment Mode
7.1 LAMEA On-Premise Market, By Country
7.2 LAMEA Cloud Market, By Country
Chapter 8. LAMEA Video Banking Service Market, By Country
8.1 Brazil Video Banking Service Market
8.1.1 Brazil Video Banking Service Market, By Application
8.1.2 Brazil Video Banking Service Market, By Component
8.1.3 Brazil Video Banking Service Market, By Deployment Mode
8.2 Argentina Video Banking Service Market
8.2.1 Argentina Video Banking Service Market, By Application
8.2.2 Argentina Video Banking Service Market, By Component
8.2.3 Argentina Video Banking Service Market, By Deployment Mode
8.3 UAE Video Banking Service Market
8.3.1 UAE Video Banking Service Market, By Application
8.3.2 UAE Video Banking Service Market, By Component
8.3.3 UAE Video Banking Service Market, By Deployment Mode
8.4 Saudi Arabia Video Banking Service Market
8.4.1 Saudi Arabia Video Banking Service Market, By Application
8.4.2 Saudi Arabia Video Banking Service Market, By Component
8.4.3 Saudi Arabia Video Banking Service Market, By Deployment Mode
8.5 South Africa Video Banking Service Market
8.5.1 South Africa Video Banking Service Market, By Application
8.5.2 South Africa Video Banking Service Market, By Component
8.5.3 South Africa Video Banking Service Market, By Deployment Mode
8.6 Nigeria Video Banking Service Market
8.6.1 Nigeria Video Banking Service Market, By Application
8.6.2 Nigeria Video Banking Service Market, By Component
8.6.3 Nigeria Video Banking Service Market, By Deployment Mode
8.7 Rest of LAMEA Video Banking Service Market
8.7.1 Rest of LAMEA Video Banking Service Market, By Application
8.7.2 Rest of LAMEA Video Banking Service Market, By Component
8.7.3 Rest of LAMEA Video Banking Service Market, By Deployment Mode
Chapter 9. Company Profiles
9.1 AU Small Finance Bank Limited
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Recent strategies and developments:
9.1.4.1 Partnerships, Collaborations, and Agreements:
9.1.4.2 Product Launches and Product Expansions:
9.1.4.3 Acquisition and Mergers:
9.1.5 SWOT Analysis
9.2 Barclays PLC
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Recent strategies and developments:
9.2.4.1 Partnerships, Collaborations, and Agreements:
9.2.4.2 Product Launches and Product Expansions:
9.2.5 SWOT Analysis
9.3 Glia Technologies, Inc.
9.3.1 Company Overview
9.3.2 Recent strategies and developments:
9.3.2.1 Partnerships, Collaborations, and Agreements:
9.3.3 SWOT Analysis
9.4 STAR Financial Bank (STAR Financial Group, Inc.)
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 SWOT Analysis
9.5 Natwest Group plc
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 Recent strategies and developments:
9.5.4.1 Partnerships, Collaborations, and Agreements:
9.5.4.2 Product Launches and Product Expansions:
9.5.5 SWOT Analysis
9.6 Guaranty Trust Bank Limited
9.6.1 Company Overview
9.6.2 Recent strategies and developments:
9.6.2.1 Partnerships, Collaborations, and Agreements:
9.6.3 SWOT Analysis
9.7 StonehamBank
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 SWOT Analysis
9.8 U.S. Bank
9.8.1 Company Overview
9.8.2 Recent strategies and developments:
9.8.2.1 Product Launches and Product Expansions:
9.8.3 SWOT Analysis
9.9 Cisco Systems, Inc.
9.9.1 Company Overview
9.9.2 Financial Analysis
9.9.3 Regional Analysis
9.9.4 Research & Development Expense
9.9.5 Recent strategies and developments:
9.9.5.1 Partnerships, Collaborations, and Agreements:
9.9.5.2 Product Launches and Product Expansions:
9.9.5.3 Acquisition and Mergers:
9.9.6 SWOT Analysis
9.10. Vidyard
9.10.1 Company Overview
9.10.2 SWOT Analysis
TABLE 1 LAMEA Video Banking Service Market, 2019 - 2022, USD Million
TABLE 2 LAMEA Video Banking Service Market, 2023 - 2030, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Video Banking Service Market
TABLE 4 Product Launches And Product Expansions– Video Banking Service Market
TABLE 5 Acquisition and Mergers– Video Banking Service Market
TABLE 6 LAMEA Video Banking Service Market, By Application, 2019 - 2022, USD Million
TABLE 7 LAMEA Video Banking Service Market, By Application, 2023 - 2030, USD Million
TABLE 8 LAMEA Banks Market, By Country, 2019 - 2022, USD Million
TABLE 9 LAMEA Banks Market, By Country, 2023 - 2030, USD Million
TABLE 10 LAMEA Credit Union Market, By Country, 2019 - 2022, USD Million
TABLE 11 LAMEA Credit Union Market, By Country, 2023 - 2030, USD Million
TABLE 12 LAMEA Others Market, By Country, 2019 - 2022, USD Million
TABLE 13 LAMEA Others Market, By Country, 2023 - 2030, USD Million
TABLE 14 LAMEA Video Banking Service Market, By Component, 2019 - 2022, USD Million
TABLE 15 LAMEA Video Banking Service Market, By Component, 2023 - 2030, USD Million
TABLE 16 LAMEA Solution Market, By Country, 2019 - 2022, USD Million
TABLE 17 LAMEA Solution Market, By Country, 2023 - 2030, USD Million
TABLE 18 LAMEA Services Market, By Country, 2019 - 2022, USD Million
TABLE 19 LAMEA Services Market, By Country, 2023 - 2030, USD Million
TABLE 20 LAMEA Video Banking Service Market, By Deployment Mode, 2019 - 2022, USD Million
TABLE 21 LAMEA Video Banking Service Market, By Deployment Mode, 2023 - 2030, USD Million
TABLE 22 LAMEA On-Premise Market, By Country, 2019 - 2022, USD Million
TABLE 23 LAMEA On-Premise Market, By Country, 2023 - 2030, USD Million
TABLE 24 LAMEA Cloud Market, By Country, 2019 - 2022, USD Million
TABLE 25 LAMEA Cloud Market, By Country, 2023 - 2030, USD Million
TABLE 26 LAMEA Video Banking Service Market, By Country, 2019 - 2022, USD Million
TABLE 27 LAMEA Video Banking Service Market, By Country, 2023 - 2030, USD Million
TABLE 28 Brazil Video Banking Service Market, 2019 - 2022, USD Million
TABLE 29 Brazil Video Banking Service Market, 2023 - 2030, USD Million
TABLE 30 Brazil Video Banking Service Market, By Application, 2019 - 2022, USD Million
TABLE 31 Brazil Video Banking Service Market, By Application, 2023 - 2030, USD Million
TABLE 32 Brazil Video Banking Service Market, By Component, 2019 - 2022, USD Million
TABLE 33 Brazil Video Banking Service Market, By Component, 2023 - 2030, USD Million
TABLE 34 Brazil Video Banking Service Market, By Deployment Mode, 2019 - 2022, USD Million
TABLE 35 Brazil Video Banking Service Market, By Deployment Mode, 2023 - 2030, USD Million
TABLE 36 Argentina Video Banking Service Market, 2019 - 2022, USD Million
TABLE 37 Argentina Video Banking Service Market, 2023 - 2030, USD Million
TABLE 38 Argentina Video Banking Service Market, By Application, 2019 - 2022, USD Million
TABLE 39 Argentina Video Banking Service Market, By Application, 2023 - 2030, USD Million
TABLE 40 Argentina Video Banking Service Market, By Component, 2019 - 2022, USD Million
TABLE 41 Argentina Video Banking Service Market, By Component, 2023 - 2030, USD Million
TABLE 42 Argentina Video Banking Service Market, By Deployment Mode, 2019 - 2022, USD Million
TABLE 43 Argentina Video Banking Service Market, By Deployment Mode, 2023 - 2030, USD Million
TABLE 44 UAE Video Banking Service Market, 2019 - 2022, USD Million
TABLE 45 UAE Video Banking Service Market, 2023 - 2030, USD Million
TABLE 46 UAE Video Banking Service Market, By Application, 2019 - 2022, USD Million
TABLE 47 UAE Video Banking Service Market, By Application, 2023 - 2030, USD Million
TABLE 48 UAE Video Banking Service Market, By Component, 2019 - 2022, USD Million
TABLE 49 UAE Video Banking Service Market, By Component, 2023 - 2030, USD Million
TABLE 50 UAE Video Banking Service Market, By Deployment Mode, 2019 - 2022, USD Million
TABLE 51 UAE Video Banking Service Market, By Deployment Mode, 2023 - 2030, USD Million
TABLE 52 Saudi Arabia Video Banking Service Market, 2019 - 2022, USD Million
TABLE 53 Saudi Arabia Video Banking Service Market, 2023 - 2030, USD Million
TABLE 54 Saudi Arabia Video Banking Service Market, By Application, 2019 - 2022, USD Million
TABLE 55 Saudi Arabia Video Banking Service Market, By Application, 2023 - 2030, USD Million
TABLE 56 Saudi Arabia Video Banking Service Market, By Component, 2019 - 2022, USD Million
TABLE 57 Saudi Arabia Video Banking Service Market, By Component, 2023 - 2030, USD Million
TABLE 58 Saudi Arabia Video Banking Service Market, By Deployment Mode, 2019 - 2022, USD Million
TABLE 59 Saudi Arabia Video Banking Service Market, By Deployment Mode, 2023 - 2030, USD Million
TABLE 60 South Africa Video Banking Service Market, 2019 - 2022, USD Million
TABLE 61 South Africa Video Banking Service Market, 2023 - 2030, USD Million
TABLE 62 South Africa Video Banking Service Market, By Application, 2019 - 2022, USD Million
TABLE 63 South Africa Video Banking Service Market, By Application, 2023 - 2030, USD Million
TABLE 64 South Africa Video Banking Service Market, By Component, 2019 - 2022, USD Million
TABLE 65 South Africa Video Banking Service Market, By Component, 2023 - 2030, USD Million
TABLE 66 South Africa Video Banking Service Market, By Deployment Mode, 2019 - 2022, USD Million
TABLE 67 South Africa Video Banking Service Market, By Deployment Mode, 2023 - 2030, USD Million
TABLE 68 Nigeria Video Banking Service Market, 2019 - 2022, USD Million
TABLE 69 Nigeria Video Banking Service Market, 2023 - 2030, USD Million
TABLE 70 Nigeria Video Banking Service Market, By Application, 2019 - 2022, USD Million
TABLE 71 Nigeria Video Banking Service Market, By Application, 2023 - 2030, USD Million
TABLE 72 Nigeria Video Banking Service Market, By Component, 2019 - 2022, USD Million
TABLE 73 Nigeria Video Banking Service Market, By Component, 2023 - 2030, USD Million
TABLE 74 Nigeria Video Banking Service Market, By Deployment Mode, 2019 - 2022, USD Million
TABLE 75 Nigeria Video Banking Service Market, By Deployment Mode, 2023 - 2030, USD Million
TABLE 76 Rest of LAMEA Video Banking Service Market, 2019 - 2022, USD Million
TABLE 77 Rest of LAMEA Video Banking Service Market, 2023 - 2030, USD Million
TABLE 78 Rest of LAMEA Video Banking Service Market, By Application, 2019 - 2022, USD Million
TABLE 79 Rest of LAMEA Video Banking Service Market, By Application, 2023 - 2030, USD Million
TABLE 80 Rest of LAMEA Video Banking Service Market, By Component, 2019 - 2022, USD Million
TABLE 81 Rest of LAMEA Video Banking Service Market, By Component, 2023 - 2030, USD Million
TABLE 82 Rest of LAMEA Video Banking Service Market, By Deployment Mode, 2019 - 2022, USD Million
TABLE 83 Rest of LAMEA Video Banking Service Market, By Deployment Mode, 2023 - 2030, USD Million
TABLE 84 Key Information – AU Small Finance Bank Limited
TABLE 85 Key Information – Barclays PLC
TABLE 86 Key Information – Glia Technologies Inc.
TABLE 87 Key Information – STAR Financial Bank
TABLE 88 Key Information – Natwest Group plc
TABLE 89 Key Information – Guaranty Trust Bank Limited
TABLE 90 Key Information – StonehamBank
TABLE 91 Key Information – U.S. Bank
TABLE 92 Key Information – Cisco Systems, Inc.
TABLE 93 Key Information – Vidyard
List of Figures
FIG 1 Methodology for the research
FIG 2 LAMEA Video Banking Service Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting video banking service market
FIG 4 KBV Cardinal Matrix
FIG 5 Key Leading Strategies: Percentage Distribution (2019-2023)
FIG 6 Key Strategic Move: (Partnerships, Collaborations & Agreements : 2021, Sep – 2023, Sep) Leading Players
FIG 7 Porter’s Five Forces Analysis - Video Banking Service Market
FIG 8 LAMEA Video Banking Service Market share, By Application, 2022
FIG 9 LAMEA Video Banking Service Market share, By Application, 2030
FIG 10 LAMEA Video Banking Service Market, By Application, 2019 - 2030, USD Million
FIG 11 LAMEA Video Banking Service Market share, By Component, 2022
FIG 12 LAMEA Video Banking Service Market share, By Component, 2030
FIG 13 LAMEA Video Banking Service Market, By Component, 2019 - 2030, USD Million
FIG 14 LAMEA Video Banking Service Market share, By Deployment Mode, 2022
FIG 15 LAMEA Video Banking Service Market share, By Deployment Mode, 2030
FIG 16 LAMEA Video Banking Service Market, By Deployment Mode, 2019 - 2030, USD Million
FIG 17 LAMEA Video Banking Service Market share, By Country, 2022
FIG 18 LAMEA Video Banking Service Market share, By Country, 2030
FIG 19 LAMEA Video Banking Service Market, By Country, 2019 - 2030, USD Million
FIG 20 Recent strategies and developments: AU Small Finance Bank Limited
FIG 21 SWOT Analysis: AU Small Finance Bank Limited
FIG 22 Recent strategies and developments: Barclays PLC
FIG 23 SWOT Analysis: Barclays PLC
FIG 24 SWOT Analysis: Glia Technologies Inc
FIG 25 SWOT Analysis: STAR Financial Bank
FIG 26 Recent strategies and developments: NatWest Group Plc
FIG 27 SWOT Analysis: NatWest Group Plc
FIG 28 SWOT Analysis: Guaranty Trust Bank Limited
FIG 29 SWOT Analysis: StonehamBank
FIG 30 SWOT Analysis: U.S. Bank
FIG 31 Recent strategies and developments: CISCO SYSTEMS, INC.
FIG 32 SWOT Analysis: Cisco Systems, Inc.
FIG 33 SWOT Analysis: Vidyard