(MENAFN- America News Hour)Kenneth Research has recently added a report titled Neo and Challenger market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021-2024. Neo and Challenger market is further anticipated to grow with a CAGR of 45.8% during the forecast period. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
“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.''
Get a Sample PDF of report-
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
Enquire before purchasing this report ->
U.S
Germany
UK
Australia
China
About Kenneth Research:
Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products'' demand, growth and opportunities for new and existing players.
Contact Us
Kenneth Research
Email:
Phone: +1 313 462 0609
James Bullock is a Research Expert with a demonstrated history of working in the professional training & coaching industry. Strong professional skilled in business strategy , Strategic Planning, Research Strategy, and Marketing. also have interest in new innovations and technology
MENAFN12052021004545010068ID1102069067
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.