Global IoT in Banking and Financial Services Market: Key Highlights
Global IoT in Banking and Financial Services Market: Key Market Dynamics
Global IoT in Banking and Financial Services Market: Regional Overview
According to United States China Economic and Security Review Commission, China enhanced to catalyze domestic IoT research and development and infrastructure development by initiatives and extensive financial support. In 2017, the China IoT market has been grown up to USD 154 billion and is projected to grow USD 267 billion by 2020. Moreover, China has developed then services and solution for IoT supply chain, component, devices, software and operators. Furthermore, Japan is also rising growth for its startup and companies for advancing its technological features by deploying the IoT services.
Hence, the growing adoption of Internet of Thing (IoT) and its solution may lead to create a positive impact for the growth of the IoT in banking and financial services market in the region.
According to the European Commission, in 2016 IoT European Platform Initiative (IoT-EPI) was launched for the better operation and security for the citizens. The EC enhancing by adopting a set of policy action to boost the Internet of Thing (IoT) for both public as well as for the private sector. These includes alliance for IoT, the digital single market strategy, the staff working document for advancing the IoT in the region. Furthermore, the European Union (EU) also funding in IoT research by the Horizon 2020 program.
Therefore, the growing adoption technology in the region will be projected to lead the demand for the market.
Global IoT in Banking and Financial Services Market: Key Players Overview
Microsoft is a multinational computer technology corporation. Also it is a publicly traded company which product and sell the windows operating system and software programs which includes Microsoft word, Microsoft Outlook, and Microsoft Internet Explorer. Moreover, Microsoft Azure for banking and capital markets use to protect against fraud and financial fraud. It also drives cloud solution in banking and capital market, by delivering a real-time analytics, and by managing risk across the enterprise. Furthermore, in 2019 the company announced IoT signals which is a research report that begin design to provides an overview of IoT landscape which includes IoT adoption rate.
Cisco Systems is a multinational technology company that sells networking hardware, software, telecommunications equipment and other high-technology services and products. The company designs, manufactures, and sells Internet protocol based networking products and services. Moreover, the Cisco connected mobile experiences for banking solution helps to deliver a unique customer experience which is integrated with the bank products and services and create an easy to use mobile experience in the branch. Furthermore, in 2020 Cisco launches a comprehensive security architecture for industrial IoT which helps to crease efficiencies to make better business decisions and accelerate digitization projects.
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