IoT in Banking and Financial Services Market Worth 2,030.1 Million USD by 2023
According to a new research report “IoT in Banking and Financial Services Market by Solution (Security, Monitoring, Customer Experience Management), Service, End-User (Banking, Insurance, and Investment and Wealth Management), Organization Size, and Region – Global Forecast to 2023”, published by MarketsandMarkets™, the market size is expected to grow from USD 249.4 Million in 2018 to USD 2,030.1 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 52.1% during the forecast period.
Major driving forces of the IoT in Banking and Financial Services Market are convergence of operational and information technology and increasing use of IoT devices in product, application, and premises monitoring for connected banking.