[Market Report] Internet of Things Market in the Banking Industry
Report ID: AA05241306
The IoT market in the global banking sector is expected to surge to $3.14 trillion by 2032, with an average annual growth rate of 33.9%.
The Internet of Things (IoT) market in the global banking industry is expected to experience remarkable growth from 2023 to 2032. Market revenue is projected to increase from $22.7 billion to $314 billion, with a compound annual growth rate (CAGR) of 33.9% during the forecast period from 2024 to 2032. IoT is bringing innovative transformations to the banking industry. Software, sensors, and other technologies are integrated to build a network of physical objects that communicate with other systems and devices via the internet, exchanging data. This enables banks and financial institutions to provide more efficient services to customers and explore new business models.
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Major Companies: Accenture Capgemini Cisco Systems Inc Dynamics Inc GE Digital IBM Infosys Limited Mastercard Microsoft Corporation Oracle Corporation PTC SAP SE Software AG Stripe Temenos Tibbo Systems Vodafone Group Plc
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