Base Year
Historical Year
Forecast Year
The global SOHO mobile banking market attained a value of nearly USD 733.38 million in 2023. The market is projected to grow at a CAGR of 9.3% between 2024 and 2032 to reach a value of around USD 1,629.55 million by 2032.
SOHO mobile banking stands for small office and home office mobile banking. This system enables computing devices at homes or remote offices to connect to a centralised corporate network in order to access various shared resources.
Based on services, the market is segmented into payment wallets, insurance, trading, portfolio management, and loans and financing. On the basis of platform, the market is classified into mobile app, web-portal, and tele-services. By end user, the market is categorised into individual and enterprise. The major regional markets for SOHO mobile banking include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global SOHO mobile banking market report, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
Payment wallets are likely to grow at an accelerated rate in the forecast period. This can be attributed to the easy accessibility, easy money loading feature, timely payment assurance, and split bill facility, among other advantages offered by payment wallets. In addition, the heightening adoption of smartphones is accelerating fund transfer processes, surging the demand for payment wallets.
Meanwhile, trading accounts for a considerable share in the SOHO mobile banking market, as it offers complete control of investments.
The Asia Pacific accounts for a significant share of the market for SOHO mobile banking. Growing expansion of offices and mid-sized businesses across emerging economies such as India and China are offering lucrative opportunities to the market.
Meanwhile, North America is likely to witness a steady growth in the forecast period owing to the well-established banking infrastructure across the United States.
Flywire Corporation is a global payments enablement and software company offering solutions to various sectors, including healthcare, travel, and education, among others. It was founded in 2009 and is headquartered in Massachusetts, the United States.
Remitly, Inc. is an online remittance service provider which offers international money transfers to various countries across the globe. It was founded in 2011 and is headquartered in Washington, the United States.
JPMorgan Chase & Co. is a leading multinational financial services company which offers financial solutions to corporations, governments, and institutions, among others. The company was established in 2000 and is headquartered in New York, the United States.
Other market players include Fin Technologies, Inc, Robinhood Financial LLC, Chime Financial, Inc., Affirm, Inc., and Avant, LLC., among others.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Services |
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| Breakup by Platform |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market reached a value of nearly USD 733.38 million in 2023.
The market is estimated to grow at a CAGR of 9.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 1,629.55 million by 2032.
The convenience and easy operability offered by SOHO mobile banking and the rapid expansion of SOHO firms, supported by escalated economic growth of emerging countries, are the major drivers of the market.
The key trends in the market include technological advancements across corporate institutions and the rapid adoption of tablets and smartphones in the corporate sector.
Payment wallets, insurance, trading, portfolio management, and loans and financing are the different services offered by SOHO mobile banking.
Mobile app, web-portal, and tele-services are the major platforms of SOHO mobile banking.
Flywire Corporation, Fin Technologies, Inc, Remitly, Inc., JPMorgan Chase & Co., Robinhood Financial LLC, Chime Financial, Inc., Affirm, Inc., and Avant, LLC., among others, are the key SOHO mobile banking market players.
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Vietnam
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+84865399124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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