Financial Services Coverage

Accounting And Auditing Market Definition And Segments

Accounting and auditing encompass the processes of recording, analyzing, and verifying financial transactions to ensure accuracy and compliance with regulatory standards. These are used for facilitating financial reporting, assessing organizational performance, detecting and preventing fraud, and providing assurance to stakeholders about the reliability of financial information. The main types of accounting and auditing are financial audits, capital markets, corporate reporting, actuarial services, and internal audits. Financial audits involve a thorough examination of a company's financial records to ensure accuracy and compliance with regulations. The various service providers involved are large enterprises, small and medium enterprises, for end users including consumer markets, energy and natural resources, financial services, government and public services, life science and healthcare, media and telecommunications, technology. The accounting and auditing market covered in this report is segmented – 1) By Type: Financial Audits, Capital Markets, Corporate Reporting, Actuarial Services, Internal Audit 2) By Service Provider: Large Enterprises, Small And Medium Enterprise 3) By End Users: Consumer Markets, Energy And Natural Resources, Financial Services, Government And Public Services, Life Science And Healthcare, Media And Telecommunications, Technology The accounting and auditing market size has grown strongly in recent years. It will grow from $209.04 billion in 2023 to $222.35 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to demand for efficient business processes, pressure on business leaders, visibility and agility in business process improvement, proper management of inventory systems, improved working capital management. The accounting and auditing market size is expected to see strong growth in the next few years. It will grow to $289.28 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to understanding the importance of forecast drivers, seeking expert opinions, leveraging insights from different perspectives, incorporating feedback loops, refining and iterating. Major trends in the forecast period include increased adoption of technology, growth in demand for specialized services, expansion of online accounting services, rise of blockchain technology in auditing, emphasis on cybersecurity in auditing.

Increasing Financial Fraud Incidents Propel Accounting and Auditing Market

The rising occurrences of financial fraud are expected to drive the accounting and auditing markets going forward. Financial fraud refers to deceptive or illegal activities conducted with the intent to mislead or deceive others for financial gain. Accounting and auditing detect and prevent financial fraud by providing oversight, ensuring compliance with regulations, conducting thorough examinations of financial records, and implementing internal controls to mitigate the risks of fraudulent activities. For instance, in May 2023, according to UK Finance, a UK-based trade association for the banking sector, authorized fraud losses reached £485.2 million ($616 million), with 207,372 total cases in 2022, an increase of 6% compared to 2021. Therefore, rising occurrences of financial fraud are driving the accounting and auditing markets. Major companies operating in the accounting and auditing market are Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers International Limited, Ernst & Young Global Limited, KPMG International, BDO Global, RSM International, Grant Thornton International Ltd (GTIL), Allinial Global, Baker Tilly International, Moore Global, HLB International, Mazars, PrimeGlobal, Crowe Global, CBIZ, Evelyn Partners, DFK International, CliftonLarsonAllen, Marcum LLP, Plante Moran, PKF International, Armanino LLP, Wipfli, Eide Bailly, Citrin Cooperman, Haines Watts Group, EisnerAmper, Kearney & Company, UHY Hacker Young, Johnston Carmichael

Enhancing Security And Transparency Through Internet Of Things (IoT) And Blockchain Integration

Major companies operating in the accounting and auditing market are increasing their focus on integrating Internet of Things (IoT) and blockchain technology into financial auditing solutions, such as web-based analytics tools, to enhance data accuracy, improve transparency, streamline auditing processes, and strengthen fraud detection capabilities. Blockchain analyzers typically offer features such as transaction tracking, address monitoring, risk assessment, and reporting capabilities to help users understand and assess blockchain activity effectively. For instance, in February 2023, Ernst & Young Global Limited, a UK-based professional services company, launched the fourth generation of the EY Blockchain Analyzer. This platform features Reconciler, including bulk reconciliation of off-chain records to the public ledger, expanded support for cryptocurrencies such as Dogecoin, and enhanced analytical capabilities. The integration of the Internet of Things (IoT) and blockchain technology ensures enhanced data integrity, traceability, and security, driving increased demand for auditing services in industries adopting these technologies and reinforcing EY's commitment to technological advancement in the accounting and auditing market.

Guidehouse Strengthens Accounting And Auditing Capabilities Through Acquisition Of Grant Thornton LLP

In October 2022, Guidehouse, a US-based consulting services company, acquired public sector advisory practices from Grant Thornton LLP's for an undisclosed amount. This acquisition enhances its capabilities in financial services, human capital management, and information technology, strengthening its position in providing specialized services related to accounting and auditing and offering clients a more comprehensive range of solutions in the accounting and auditing sector. Grant Thornton LLP is a US-based accounting and advisory organization, offering a range of services in accounting and auditing. North America was the largest region in the accounting and auditing market in 2023. The regions covered in the accounting and auditing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the accounting and auditing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The accounting and auditing market includes revenues earned by entities by providing services such as risk management and compliance, business valuation and appraisal, mergers and acquisitions advisory, and sustainability reporting and assurance services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The accounting and auditing market research report is one of a series of new reports from The Business Research Company that provides accounting and auditing market statistics, including the accounting and auditing industry global market size, regional shares, competitors with accounting and auditing market share, detailed accounting and auditing market segments, market trends, and opportunities, and any further data you may need to thrive in the accounting and auditing industry. This accounting and auditing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Financial Services Cybersecurity Systems And Services Market Definition And Segments

Financial services cybersecurity systems and services are the technology, methods, and strategies used by financial institutions to protect their digital assets, sensitive data, and operations against cyber threats. These service and technology are essential for protecting sensitive financial information, ensuring regulatory compliance, and maintaining customer trust. The main types of products for financial services cybersecurity systems and services include endpoint security, identity and access management, mobile security, security information and event management, content security, and datacenter security. Endpoint security involves safeguarding individual devices like computers and mobiles from cyber threats. It employs security software to detect and prevent malicious activities, ensuring the protection of sensitive data and networks. These are provided by various types of deployment, such as cloud and on-premise. These are used by several organizational sizes, such as small and medium enterprises and large enterprises, for various applications in banking and insurance institutions, stock and fund institutions, government and others. The financial services cybersecurity systems and services market covered in this report is segmented – 1) By Product: Endpoint Security, Identity And Access Management, Mobile Security, Security Information And Event Management, Content Security, Datacenter Security 2) By Deployment: Cloud, On-Premise 3) By Organization Size: Small And Medium Enterprises, Large Enterprises 4) By Application: Banking And Insurance Institution, Stock And Funds Institution, Government, Other Applications The financial services cybersecurity systems and services market size has grown exponentially in recent years. It will grow from $22.63 billion in 2023 to $25.49 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The growth in the historic period can be attributed to the increased digitization of financial services, escalation in cybercrime activities, rise in the frequency and sophistication of ransomware attacks, growth of mobile banking, rise in the customer expectations. The financial services cybersecurity systems and services market size is expected to see rapid growth in the next few years. It will grow to $41.49 billion in 2028 at a compound annual growth rate (CAGR) of 13.0%. The growth in the forecast period can be attributed to rising in ransomware attacks, rising in demand for threat intelligence, growing emphasis on cyber resilience, increasing regulatory scrutiny, continued expansion of digital banking. Major trends in the forecast period include the adoption of AI-driven technologies, blockchain technology, automation, cybersecurity training, integration of deception technologies, multi-factor authentication.

Escalating Cyber Attacks Drive Growth In The Financial Services Cybersecurity Sector

The rising instances of cyberattacks are expected to propel the growth of the financial services cybersecurity systems and services market going forward. A cyber-attack is a malicious and deliberate attempt by an individual or organization to breach the information system of another individual or organization. The rising instances of cyberattacks are due to several factors, such as increasing digitization, rising connectivity, and a lack of cybersecurity awareness. Financial services cybersecurity systems and services helps in safeguarding the integrity, confidentiality, and availability of critical financial infrastructure and customer information amidst the growing sophistication and frequency of cyberattacks. For instance, in February 2023, according to the Australian Cyber Security Centre, an Australia-based government agency for cyber security, the number of cyberattacks received in 2022 was 76,000, up 13% from the previous year. Therefore, the rising instances of cyberattacks are driving the growth of the financial services cybersecurity systems and services market. Major companies operating in the financial services cybersecurity systems and services market are International Business Machines Corporation, Cisco Systems Inc., Ernst & Young Global Limited, Broadcom Inc., Palo Alto Networks Inc., Fortinet Inc., Check Point Software Technologies Ltd., Trend Micro Incorporated, CrowdStrike Holdings Inc., Proofpoint Inc., FireEye Inc., Rapid7 Inc., Forcepoint LLC, CyberArk Software Ltd., Varonis Systems Inc., SentinelOne Inc., Trustwave Holdings Inc., Cylance Inc., LogRhythm Inc., SecurityScorecard Inc., Sophos Group plc, BitSight Inc.

Advancements In AI-Enabled Financial Cybersecurity Solutions For Regulatory Compliance

Major companies operating in the financial services cybersecurity systems and services market are developing AI-enabled compliance manager software such as FTC compliance manager to gain a competitive edge in the market. AI-enabled compliance manager software are systems and apps that use AI algorithms and machine learning (ML) approaches to complete tasks independently or with minimum human participation. For instance, in December 2023, CyberCatch Holdings Inc., a US-based company that provides a highly effective AI-enabled cybersecurity solution, launched FTC Compliance Manager, a creative approach for dealing with the US Federal Trade Commission's (FTC) cybersecurity obligations under the Safeguards Rule and its subsequent update. It offers non-bank financial institutions in the United States AI-enabled continuous compliance and cyber risk mitigation. This solution is part of CyberCatch's ongoing commitment to providing advanced cybersecurity solutions for businesses of all sizes, helping them protect their digital assets and maintain regulatory compliance.

Thales Strengthens Global Cybersecurity Position With Imperva Acquisition

In December 2023, Thales, a France-based company, acquired Imperva Inc. for an undisclosed amount. The acquisition aims to strengthen Thales's position as a global cybersecurity leader by broadening its cybersecurity offerings for businesses and agencies. Imperva is a US-based cyber security software and services company that provides data, edge, and application security for financial institutions. North America was the largest region in the financial services cybersecurity systems and services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the financial services cybersecurity systems and services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the financial services cybersecurity systems and services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The financial services cybersecurity systems and services market includes revenues earned by entities by providing services such as security auditing and monitoring, data protection and encryption services, and managed security services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The financial services cybersecurity systems and services market research report is one of a series of new reports from The Business Research Company that provides financial services cybersecurity systems and services market statistics, including the financial services cybersecurity systems and services industry global market size, regional shares, competitors with financial services cybersecurity systems and services market share, detailed financial services cybersecurity systems and services market segments, market trends, and opportunities, and any further data you may need to thrive in the financial services cybersecurity systems and services industry. This financial services cybersecurity systems and services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Foreign Exchange Software Market Definition And Segments

Foreign exchange (FX) software refers to computer programs, applications, or platforms designed specifically for the trading and management of foreign exchange transactions. This software facilitates currency trading activities by providing tools and platforms for executing trades, analyzing market data, and managing transactions in the global foreign exchange market. The main types of components in foreign exchange software are software and services. Foreign exchange software refers to programs or applications designed to facilitate currency trading, risk management, and other related activities. It can be deployed on-premises or in the cloud, with various pricing models available, such as subscription and one-time. The several end users are financial institutions, banks, and enterprises. The foreign exchange software market covered in this report is segmented – 1) By Component: Software, Services 2) By Deployment: On-Premise, Cloud Based 3) By Pricing Model: Subscription, One-Time 4) By End User: Financial Institutions, Banks, Enterprises The foreign exchange software market size has grown rapidly in recent years. It will grow from $1.93 billion in 2023 to $2.12 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to financial deregulation, changing user preferences, demand for transparency, emergence of electronic trading, increasing forex trading volumes, market volatility, and regulatory changes. The foreign exchange software market size is expected to see rapid growth in the next few years. It will grow to $3.13 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to expansion of emerging markets, demand for mobile trading, integration with other financial systems, increasing focus on risk management, expansion of fintech industry, and rise of online trading. Major trends in the forecast period include the integration of social trading features, rising demand for mobile trading platforms, integration of blockchain technology, expansion of cloud-based solutions, increased adoption of AI and machine learning.

Impact Of Increasing Cryptocurrencies On Foreign Exchange Software Market

The increasing number of cryptocurrencies is expected to propel the growth of the foreign exchange software market going forward. Cryptocurrencies refer to digital or virtual currencies that operate on decentralized networks and are typically based on blockchain technology. Cryptocurrencies are increasing due to growing demand for diverse digital assets that cater to different preferences and needs in the market. Foreign exchange software offers valuable tools for traders to analyze cryptocurrency markets, manage risk, and execute trades efficiently alongside traditional fiat currencies. For instance, in 2023, according to Bankrate LLC, a US-based consumer financial services company, the size of the Bitcoin blockchain was approximately 507 gigabytes in August 2023, which is about 70% higher than where it was in 2020. Therefore, the increasing number of cryptocurrencies is driving the growth of the foreign exchange software market. Major companies operating in the foreign exchange software market are Accenture plc, International Business Machines Corporation, Oracle Corporation, SAP SE, Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Limited, Fiserv Inc., DXC Technology, Bloomberg LP, Wipro Limited, CGI Inc., Conotoxia, NCR Corporation, Broadridge Financial Solutions, e2eFX, EPAM Systems Inc., Diebold Nixdorf, OpenLink Financial LLC, ACI Worldwide, Sungard Availability Services, Temenos Group AG, Avaloq Group AG

Revolutionizing Foreign Exchange Software With Innovative Features

Major companies operating in foreign exchange software are focused on developing innovative solutions, such as CurrencyXchanger, to provide advanced features for efficient currency exchange management. CurrencyXchanger is a software solution that caters to money service businesses, offering features like managing operations, customer relations, accounting, and more within a centralized system. For instance, in March 2022, Clear View Systems Ltd., a Canada-based developer of currency exchange software services, launched CurrencyXchanger 6.1, a comprehensive software solution, to provide money service businesses with faster, more secure currency exchange services. This software offers highly customizable features and compliance functionality to simplify transactions, reduce errors, and minimize risks associated with foreign exchange. It streamlines currency exchange transactions with robust features, multi-currency support, and seamless integration with payment gateways. Additionally, CurrencyXchanger provides extensive analytical tools for performance tracking and financial management.

MakeMyTrip Acquires BookMyForex To Expand Foreign Exchange Solutions

In April 2022, MakeMyTrip, an India-based online travel company, acquired BookMyForex for an undisclosed amount. Through this acquisition, MakeMyTrip aims to enhance its suite of services for travelers by offering a comprehensive range of foreign exchange solutions. This aligns with MakeMyTrip's vision to become a one-stop solution for all the forex needs of Indian travelers, providing services such as multi-currency prepaid forex cards and cross-border remittances. BookMyForex is an India-based online currency exchange service provider. North America was the largest region in the foreign exchange software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the foreign exchange software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the foreign exchange software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The foreign exchange software market includes revenues earned by entities by providing services such as algorithmic trading, account management, market news and analysis, customer support, and position monitoring. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The foreign exchange software market research report is one of a series of new reports from The Business Research Company that provides foreign exchange software market statistics, including foreign exchange software industry global market size, regional shares, competitors with a foreign exchange software market share, detailed foreign exchange software market segments, market trends and opportunities, and any further data you may need to thrive in the foreign exchange software industry. This foreign exchange software market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Insurance Telematics Market Definition And Segments

Insurance telematics refers to the use of technology, such as GPS-based devices or mobile apps, to monitor and assess the driving behavior and patterns of policyholders. It is utilized to allow insurance companies to create usage-based insurance (UBI) schemes that appropriately price premiums and policies based on individual driving behaviors. The main types of insurance telematics are pay-as-you-drive (PAYD), pay-how-you-drive (PHYD), and manage-how-you-drive (MHYD). Pay-as-you-drive (PAYD) refers to a usage-based insurance model where premiums are determined by the actual distance driven by the policyholder, typically measured through telematics devices installed in vehicles. It is based on several technologies, including on-board diagnostic II (OBD-ll), smartphones, hybrids, and black boxes, and can be deployed on-premise and in the cloud. It is used in large enterprises and small and medium-sized enterprise organizations for several types of vehicles, such as light-duty vehicles (LDV) and heavy-duty vehicles (HDV). The insurance telematics market covered in this report is segmented – 1) By Type: Pay-As-You-Drive (PAYD), Pay-How-you-Drive (PHYD), Manage-How-You- Drive (MHYD) 2) By Technology: On-Board Diagnostic II (OBD-ll), Smartphone, Hybrid, Black-Box 3) By Deployment: On-premise, Cloud 4) By Organization Size: Large Enterprises, Small And Medium-sized Enterprises 5) By Vehicle Type: Light-Duty Vehicles (LDV), Heavy-Duty Vehicles (HDV) The insurance telematics market size has grown rapidly in recent years. It will grow from $3.43 billion in 2023 to $4.01 billion in 2024 at a compound annual growth rate (CAGR) of 16.9%. The growth in the historic period can be attributed to government regulations and mandates, advancements in telematics technology, rising concerns over road safety, increasing awareness of insurance fraud, demand for personalized insurance solutions. The insurance telematics market size is expected to see rapid growth in the next few years. It will grow to $7.59 billion in 2028 at a compound annual growth rate (CAGR) of 17.3%. The growth in the forecast period can be attributed to integration with connected car ecosystem, emergence of autonomous vehicles, growing demand for usage-based insurance (UBI), expansion into emerging markets, rising focus on environmental sustainability. Major trends in the forecast period include integration of advanced analytics and AI, expansion of telematics offerings to commercial lines, partnerships and collaborations, focus on data privacy and security.

Increasing Adoption Of Connected Cars Fuels Growth In The Insurance Telematics Market

The rising adoption of connected cars is expected to propel the growth of the insurance telematics market going forward. Connected cars refer to vehicles equipped with advanced communication systems and internet connectivity, enabling them to interact with other devices, networks, and services both within and outside the vehicle. The factors driving the rise of connected cars include the continuous advancements in mobile technology and their ability to collect and utilize data for predictive maintenance. Connected cars give a multitude of real-time information about driving behaviors and factors like speed, distance, location, braking, and acceleration. This data, obtained via connected car systems and telematics technology, allows insurers to assess individual driver behavior correctly, modify insurance premiums based on actual driving behaviors, and provide usage-based insurance (UBI) programs. For instance, in January 2023, according to the IEEE Communications Society, a US-based technical professional organization, the number of connected vehicles globally is set to grow from 192 million this year to more than 367 million in 2027. Furthermore, in February 2022, according to Automotive News, a weekly newspaper owned by Crain Communications Inc., a US-based media company, Tesla achieved global sales of 936,172 vehicles in 2021, marking an 87.4% increase compared to the previous year. Therefore, the rising adoption of connected cars is driving the growth of the insurance telematics market. Major companies operating in the insurance telematics market are Verizon Communications Inc., Axa SA, Vodafone Group Plc, AllState Insurance Company, Progressive Corporation, Liberty Mutual Insurance Company, Zurich Insurance Group, Unipolsai Assicurazioni S.p.A., Trimble Inc., LexisNexis Risk Solutions, Viasat Group, Towergate Insurance, Agero Inc., TomTom International BV., Sierra Wireless Inc., MiX Telematics, Octo Telematics S.p.A., Meta System S.p.A., IMS (Intelligent Mechatronic Systems Inc.), Masternaut Limited, Cambridge Mobile Telematics, Imertik Global Inc., Otonomo, Aplicom Oy, DriveQuant

Emergence Of Mobile Telematics-Based Motor Insurance Transforming The Insurance Telematics Market

Major companies operating in the insurance telematics market are introducing new features and solutions, such as new add-on cover facilities, to gain a competitive edge in the market. New add-on cover facilities in insurance telematics refer to additional features or services that enhance the traditional telematics insurance offerings. For instance, in July 2022, Edelweiss Group, an India-based financial services company, launched the Switch 'Pay As You Drive' (PAYD) add-on for its private car package policy, representing a significant advancement in the realm of motor insurance in India. This product is designed to provide policyholders with enhanced flexibility and cost savings by offering discounted Own Damage (OD) premiums based on their annual mileage. With the Switch PAYD add-on, customers can now enjoy tailored coverage that aligns with their driving habits and requirements.

PowerFleet Strengthens Global Presence And Innovations With Movingdots GmbH Acquisition

In March 2023, PowerFleet, a US-based telematics and IoT solutions company, acquired Movingdots GmbH for an undisclosed amount. With this acquisition, Powerfleet has significantly strengthened its position in the fleet management industry by gaining access to cutting-edge insurance-approved telematics solutions, expanding its global reach, and enhancing its talent pool, thus enabling the company to provide even more comprehensive and advanced offerings focused on safety and sustainability. Movingdots GmbH is a Germany-based fleet management solutions company that develops insurance telematics and sustainable mobility solutions. Europe was the largest region in the insurance telematics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the insurance telematics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the insurance telematics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The insurance telematics market consists of revenues earned by entities by providing services such as claims management services, fleet management services, data aggregation and analytics services. The market value includes the value of related goods sold by the service provider or included within the service offering. The insurance telematics market also includes sales of telematics devices, GPS receivers, accelerometers, gyroscopes, batteries and dashboards. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The insurance telematics market research report is one of a series of new reports from The Business Research Company that provides insurance telematics market statistics, including insurance telematics industry global market size, regional shares, competitors with an insurance telematics market share, detailed insurance telematics market segments, market trends and opportunities, and any further data you may need to thrive in the insurance telematics industry. This insurance telematics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Leasing Automation Software Market Definition And Segments

Leasing automation software refers to a digital system intended to streamline and automate different areas of the leasing process, such as lease origination, documentation, billing, management, and renewal. It is used to streamline and speed up lease-related activities, eliminating manual effort, errors, and improving overall operational efficiency. The main types of platforms included in leasing automation software are software and services. Software refers to a set of instructions that enable computers to perform specific tasks. In leasing automation, software streamlines processes, manages data, and facilitates communication, optimizing efficiency and accuracy in lease management operations. It can be deployed in the cloud or on the web for several applications in large enterprises and small and medium enterprises (SMEs). The leasing automation software market covered in this report is segmented – 1) By Platform: Software, Services 2) By Deployment Type: Cloud-Based, Web Based 3) By Application: Large Enterprises, Small And Medium Enterprises (SMEs) The leasing automation software market size has grown strongly in recent years. It will grow from $1.51 billion in 2023 to $1.64 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to compliance requirements, centralized data management, improved decision-making, enhanced collaboration, and competitive advantage. The leasing automation software market size is expected to see strong growth in the next few years. It will grow to $2.32 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to digital transformation, remote work and mobility, sustainability and ESG reporting, scalability and flexibility, and artificial intelligence and automation. Major trends in the forecast period include the adoption of cloud-based solutions, enhanced integration capabilities, mobile accessibility, AI-driven lease negotiation assistance, and flexibility in lease structures.

Increasing Adoption Of Cloud-Based Solutions Fuels The Leasing Automation Software Market

The increasing adoption of cloud-based solutions will propel the growth of the leasing automation software market going forward. Cloud-based solutions refer to software or services that are hosted, managed, and accessed remotely over the internet instead of locally on a user's device or on-premises servers. The increasing adoption of cloud-based solutions is on the rise due to their ability to deliver scalability, cost efficiency, and reliability, enabling organizations to accelerate digital transformation. Cloud-based solutions enhance leasing automation software by providing scalable infrastructure, remote access, real-time data management, streamlining processes, and improving efficiency. For instance, in December 2023, according to the European Union (EU), a Belgium-based governing body, the adoption of cloud-based solutions in 2023 in the European Union increased by 4.2%, with 45.2% of enterprises purchasing cloud computing services, indicating a significant surge compared to 2021. Therefore, the increasing adoption of cloud-based solutions is driving the growth of the leasing automation software market. Major companies operating in the leasing automation software market are International Business Machines Corporation, Oracle Corporation, SAP SE, Trimble Inc., RealPage Inc., LeasePlan Corporation N.V., Yardi Systems Inc., AppFolio Inc., CoStar Group Inc., MRI Software LLC, LeasePilot Inc., Accruent LLC, Cassiopae S.A.S., LeaseQuery LLC, Visual Lease Services Inc., LeaseAccelerator Inc., Re-Leased Limited, Automatic Labs Inc., Milestone Aviation Group Limited, Nomos One Limited, DealSumm Limited, FMIS Software

Innovative Leasing Automation Solutions Revolutionizing Property Management Industry

Major companies operating in the leasing automation software market are developing innovative leasing automation solutions to enhance the efficiency and effectiveness of property management companies' leasing processes. It streamlines leasing processes through digital tools and software platforms. For instance, in August 2023, VERO, a US-based modern screening and leasing platform, launched VERO1, the first centralized leasing tool designed to streamline and automate the rental application process for enterprise owners and operators. VERO1 uses augmented artificial intelligence and a specialized team of analysts to deliver decision-ready applications, with the goal of making the enterprise application management process ten times more efficient and returning critical time and energy to understaffed teams. This platform speeds up lease decisions, increases occupancy rates, and improves rent collection rates by giving validated data and ready-to-decision applications to operators, thereby revolutionizing the leasing process for property managers and operators.

LeaseAccelerator Acquired LeaseController Software-As-A-Service From Deloitte To Expand Solution Portfolio And Business Strategy

In May 2023, LeaseAccelerator Inc., a US-based provider of lease lifecycle automation software, acquired LeaseController software-as-a-service products and related business operations from Deloitte Touche Tohmatsu Limited for an undisclosed amount. This acquisition aligns with LeaseAccelerator's aim to broaden its solution portfolio and offer clients a comprehensive suite of enterprise solutions, such as real estate administration, equipment leasing sourcing, and emissions management. LeaseController from Deloitte is a leasing automation software designed to help organizations streamline and automate their lease accounting processes. Deloitte Touche Tohmatsu Limited is a UK-based provider of lease lifecycle automation software. North America was the largest region in the leasing automation software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the leasing automation software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the leasing automation software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The leasing automation software market includes revenues earned by entities by providing services such as tenant communication, rent collection, maintenance tracking, financial reporting, and document management. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The leasing automation software research report is one of a series of new reports from The Business Research Company that provides leasing automation software market statistics, including the leasing automation software industry's global market size, regional shares, competitors with a leasing automation software market share, detailed leasing automation software market segments, market trends, and opportunities, and any further data you may need to thrive in the leasing automation software industry. This leasing automation software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Mobile Remittance Service Market Definition And Segments

Mobile remittance service refers to a digital medium of exchange and storage of money using mobile money accounts, facilitated by a network of mobile money agents. Mobile remittance services enable users to conveniently send money globally, aiding in fast and secure transactions in cross-border business activities. The main types of mobile remittance services are inward digital remittance and outward digital remittance. Inward digital remittance refers to the secure transfer of funds into a bank account through digital channels, used for international transactions. The various channels include banks, money transfer operators, and online platforms and others are used for different applications, such as the migrant labor workforce, low-income households, small businesses, and others. The mobile remittance service market covered in this report is segmented – 1) By Type: Inward Digital Remittance, Outward Digital Remittance 2) By Channel: Banks, Money Transfer Operators, Online Platforms, Other Channels 3) By Application: Migrant Labor Workforce, Low Income Households, Small Businesses, Other Applications The mobile remittance service market size has grown rapidly in recent years. It will grow from $24.83 billion in 2023 to $24.83 billion in 2024 at a compound annual growth rate (CAGR) of 29.83%. The growth in the historic period can be attributed to rise in adoption of cloud-based technology, increase in mobile penetration, minimum administration & operational cost, rise in transparency among cloud providers, horizontal and vertical scalability. The mobile remittance service market size is expected to see rapid growth in the next few years. It will grow to $55.89 billion in 2028 at a compound annual growth rate (CAGR) of 17.7%. The growth in the forecast period can be attributed to rise of contactless payments, focus on user experience, continued growth of mobile wallets, emergence of decentralized finance, focus on data security. Major trends in the forecast period include AI and machine learning integration, blockchain technology, enhanced regulatory support, expansion of financial inclusion initiatives, growth of P2P payments.

Influence Of Smartphone Penetration On The Mobile Remittance Service Market

Smartphone penetration is expected to propel the growth of the mobile remittance service market going forward. Smartphone penetration refers to the percentage of individuals within a specific population who own and use smartphones, indicating the level of smartphone adoption within that group or region. The increasing smartphone penetration is due to their growing affordability, which is being driven by economies of scale, manufacturer rivalry, and the availability of cost-effective smartphones. Mobile remittance services harness the capabilities of smartphones to offer convenience, accessibility, speed, security, and cost-effectiveness in transferring funds domestically and internationally. These services often provide real-time tracking and notifications, allowing senders and recipients to monitor the status of their transactions. For instance, in April 2022, according to the Department of Telecommunications under the Ministry of Information and Communications (MIC), a Vietnam-based regulatory agency, Vietnam recorded 91.3 million smartphone subscribers in 2021, which increased by over 2 million at the end of March 2022, resulting in a total of 93.5 million subscribers. Therefore, smartphone penetration is driving the growth of the mobile remittance service market. Major companies operating in the mobile remittance service market are PayPal Holdings Inc., The Western Union Company, Zeepay Company Limited, Toast Inc., Ria Financial Services Inc., MoneyGram International Inc., Wise Group Limited, Remitly Global Inc., Payoneer Inc., Zepz Group Limited, Flywire Corporation, OFX Group Limited, CurrencyFair Ltd., TransferGo Ltd., Currencycloud Limited, InstaReM Pte. Limited, Azimo Limited, TNG Wallet, Mobetize Corp., Monty Global Payments S.A.U., Avenues India Pvt Ltd., Digital Wallet Corporation, OrbitRemit Global Money Limited, USSC Acquisition Corp. (USSC), Mobile Money Network Ltd

Enhancing Mobile Remittance Services With International Transfers

Major companies operating in the mobile remittance service market are enhancing their current portfolio by adding advanced technological features such as international remittance to increase their profitability in this market. International remittance refers to the movement of funds between countries, conducted by individuals or businesses, and used for purposes such as supporting family members, education expenses, or cross-border business transactions. For instance, in July 2023, OMPay, an Oman-based financial technology service company, unveiled a new feature of international remittance to its mobile application, OMPay's Digital Wallet. The new feature is designed to serve the diverse population of the country by providing convenient payment services. It enables users to send and receive payments internationally in nine countries, offering options for cash pickup or direct transfer to recipients' digital wallets or bank accounts. This functionality is especially advantageous for students and families overseas, as it allows them to send money efficiently, bypassing travel and service fees, and accessing competitive exchange rates through OMPay.

Digital Wallet Corporation Acquired Seven Global Remit Ltd. And Formed ATM Partnership With Seven Bank

In February 2024, Digital Wallet Corporation, a Japan-based financial technology company acquired Seven Global Remit Ltd. for an undisclosed amount. Through this acquisition, Seven Global Remit Co. Ltd. handed over its shares to Digital Wallet. Additionally, Seven Bank and Digital Wallet have forged an ATM partnership agreement to improve financial accessibility for foreign residents in Japan by allowing them to deposit money at any Seven Bank ATM and promptly send funds worldwide through Digital Wallet's Smiles mobile remittance service. Seven Global Remit Ltd. is a Japan-based financial service company that runs Sendy, an international remittance service. Asia-Pacific was the largest region in the mobile remittance service market in 2023. The regions covered in the mobile remittance service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the mobile remittance service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The mobile remittance service market consists of revenues earned by entities by providing services such as bill payments, bank deposits, and international money transfers. The market value includes the value of related goods sold by the service provider or included within the service offering. The mobile remittance service market also includes sales of mobile devices, such as smartphones, tablets, chip readers, card swipers, card readers and mobile payment terminals. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The mobile remittance service market research report is one of a series of new reports from The Business Research Company that provides mobile remittance service market statistics, including mobile remittance service industry global market size, regional shares, competitors with a mobile remittance service market share, detailed mobile remittance service market segments, market trends and opportunities, and any further data you may need to thrive in the mobile remittance service industry. This mobile remittance service market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Cash Recycler Market Definition And Segments

Cash recyclers are machines that automate the process of efficiently accepting, verifying, storing, and releasing currency. These machines simplify cash-handling procedures by decreasing manual counting, increasing accuracy, strengthening security measures, and maximizing cash flow management. The main types of cash recycler are dependent cash recycling modules and embedded cash recycling modules. Independent cash recycling modules refer to standalone machines that accept and dispense cash, often used in various industries for efficient cash handling. The various applications involved are automated teller machines, self-checkout, bill payment, retail cash management, teller assistance, used in banking, financial services, insurance, retail and e-commerce, hospitality, government, media and entertainment, and other industries. The cash recycler market covered in this report is segmented – 1) By Type: Independent Cash Recycling Modules, Embedded Cash Recycling Modules 2) By Application: Automated Teller Machine, Self-Checkout, Bill Payment, Retail Cash Management, Teller Assist 3) By Industry: Banking, Financial Services, And Insurance, Retail And E-commerce, Hospitality, Government, Media And Entertainment, Other Industries The cash recycler market size has grown strongly in recent years. It will grow from $3.57 billion in 2023 to $3.76 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to cash usage patterns, customer experience, efficiency improvements, security concerns, cost reduction, regulatory compliance. The cash recycler market size is expected to see strong growth in the next few years. It will grow to $4.70 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to expansion of cash-intensive industries, increasing focus on sustainability, growing demand for self-service banking, expansion of retail banking networks, growing emphasis on cash automation. Major trends in the forecast period include AI and Machine learning, mobile integration, customization and scalability, data analytics and reporting, remote monitoring and management.

Growing Demand For Cash Recyclers Fuels Market Expansion

The growing demand for efficient cash management is expected to propel the growth of the cash recycler market going forward. Cash management refers to collecting, managing, investing, and disbursing cash within an organization to optimize its liquidity, minimize financial risk, and maximize profitability. The increasing demand for efficient cash management is driven by regulatory, technological, and competitive factors, compelling businesses to prioritize cash optimization and liquidity management to achieve their financial objectives. Cash recycling devices enhance consumer experiences by providing safe and effective cash management solutions and easily interface with digital banking systems. For instance, according to Nationwide Building Society, a UK-based financial institution, in January 2024, the total number of times ATMs were utilized for cash deposits increased by 10%, while the average deposit amount rose by 29% compared to five years ago. Furthermore, the network of over 1,200 ATMs processed over 31.4 million cash withdrawals in the previous year, marking a 4% increase from 2022. Therefore, the growing demand for cash recyclers to efficiently manage cash levels is driving the growth of the cash recycler market. Major companies operating in the cash recycler market are Fiserv Inc., Fifth Third Bank NA, NCR Corporation, The Brink's Company, Garda World Security Corporation, Diebold Nixdorf Inc., Giesecke+Devrient Currency Technology America Inc., Loomis AB, GRG Banking Equipment Co. Ltd., CPI Card Group, Gunnebo AB, Cummins Allison Corp., JCM Global, FireKing Security Group, Hitachi Payment Services Pvt. Ltd., Tidel Engineering L.P., Nautilus Hyosung America Inc., Glory Global Solutions Inc., Kisan Electronics Co. Ltd., Triton Systems of Delaware LLC, CashTech Currency Products Inc., KICTeam Inc., Cassida Corporation, Volumatic Ltd., Hyosung TNS Inc.

Advancements In Cassette-Based Recycling Solutions

Major companies operating in the cash recycler market focus on developing cassette-based recycling solutions, such as GLR-100, to boost their revenue. GLR-100 is a cassette-based recycling system, or teller cash recyclers (TCRs), that employ cassettes for storing and handling notes. For instance, in August 2022, Glory, a Japan-based cash technology solutions company, unveiled the GLR-100, a new GLR series of Teller Cash Recycler (TCR). GLR-100 is a cassette-based recycling solution with self-audit capabilities, improving branch banking economics. The latest TCRs use advanced banknote identification technology and are IoT and cloud-enabled, linking effortlessly to Glory's UBIQULARTM solutions. This integration enhances business analytics and enables remote monitoring and administration of devices across the branch network.

Sesami Cash Management Technologies Acquires ARCA

In August 2022, Sesami Cash Management Technologies, a Canada-based software company, acquired ARCA for an undisclosed amount. With this acquisition, Sesami's distinct worldwide positioning as a single real end-to-end, technologically enabled cash ecosystem service provider for banking institutions and consumer enterprises. ARCA is a US-based company that manufactures teller cash recyclers and offers cash technology solutions to banking institutions. Asia-Pacific was the largest region in the cash recycler market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cash recycler market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the cash recycler market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The cash recyclers market consists of sales of modular cash recycler systems, portable cash recyclers, high-volume cash recyclers, desktop cash recyclers, embedded cash recyclers, and standalone cash recyclers. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The cash recycler market research report is one of a series of new reports from The Business Research Company that provides cash recycler market statistics, including cash recycler industry global market size, regional shares, competitors with cash recycler market share, detailed cash recycler market segments, market trends, and opportunities, and any further data you may need to thrive in the cash recycler industry. This cash recycler market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Consumer Mobile Payment Market Definition And Segments

Consumer mobile payment refers to the process of using a mobile device, such as a smartphone or tablet, to make financial transactions, typically for goods and services. This form of payment utilizes mobile applications or built-in functionalities on the device to initiate, authorize, and complete transactions. The main types of payments are consumer mobile payments, such as remote and proximity. Remote mobile payments serve as a convenient and efficient way for consumers to engage in financial transactions remotely, offering flexibility and accessibility in a digital era. These include several kinds of technologies, including near-field communication (NFC), direct mobile billing, mobile web payment, short message services, interactive voice response systems, mobile apps, and others, and they are used in various industries such as retail, hospitality and tourism, information technology and telecommunication, banking, financial services, and insurance (BFSI), media and entertainment, healthcare, airline, and others. The consumer mobile payment market covered in this report is segmented – 1) By Mode of Payment: Remote, Proximity 2) By Technology: Near Field Communication (NFC), Direct Mobile Billing, Mobile Web Payment, Short Message Services, Interactive Voice Response System, Mobile App, Other Technologies 3) By End-User Industry: Retail, Hospitality And Tourism, Information Technology And Telecommunication, Banking, Financial Services, and Insurance (BFSI), Media And Entertainment, Healthcare, Airline, Other End Users The consumer mobile payment market size has grown exponentially in recent years. It will grow from $63.01 billion in 2023 to $82 billion in 2024 at a compound annual growth rate (CAGR) of 30.1%. The growth in the historic period can be attributed to increasing smartphone penetration and internet connectivity, growth of digital wallets and mobile payment apps, convenience and ease of use in conducting transactions, adoption by merchants and businesses for cashless payments, rise in consumer preference for contactless and secure payment methods, expansion of e-commerce and online shopping platforms, government initiatives promoting digital payment adoption. The consumer mobile payment market size is expected to see exponential growth in the next few years. It will grow to $236.53 billion in 2028 at a compound annual growth rate (CAGR) of 30.3%. The growth in the forecast period can be attributed to continuation of smartphone proliferation and mobile internet access, expansion of mobile payment acceptance in retail and service sectors, growth of peer-to-peer payment platforms and social commerce, increasing demand for financial inclusion and accessibility, adoption of mobile payments in emerging markets and unbanked populations. Major trends in the forecast period include integration of biometric authentication, growth in demand for peer-to-peer platforms, development of solutions for in-store and online purchases, collaboration between providers and merchants, expansion of options for transportation services, adoption of qr code technology, integration into messaging platforms, increasing emphasis on cybersecurity.

Contactless Payment Surge Fuels Consumer Mobile Payment Market Growth

The surge in the penetration of contactless payments is expected to drive the growth of the consumer mobile payment market going forward. Contactless payment is a secure transaction method where users can tap or wave their card, smartphone, or wearable device near a compatible terminal to purchase without physically swiping or inserting the card. Contactless payment adoption offers convenience, security, and improved consumer experiences, making it a valuable trend in modern payment systems. The surge in contactless payment penetration enhances convenience and safety, driving growth in the consumer mobile payment market by encouraging the adoption of mobile payment platforms and accelerating the shift towards cashless transactions. For instance, in September 2023, according to reports published by the Consumer Financial Protection Bureau (CFPB), a US-based independent agency of the United States government, U.S. consumers spent $65.2 billion at stores using Google Pay in 2022, which is an increase from $24.8 billion in 2021. Therefore, the surge in the penetration of contactless payment is driving the growth of the consumer mobile payment market. Major companies operating in the consumer mobile payment market are Amazon.com Inc., Apple Inc., Alphabet Inc., Samsung Electronics Co. Ltd., Alibaba Group Holdings Limited, American Express Company, Visa Inc., PayPal Holdings Inc., MasterCard Incorporated, Thales Group, Fiserv Inc., Square Inc., Bharti Airtel Ltd., Fidelity National Information Services Inc., Orange Polska SA, Grubhub Inc., Jack Henry & Associates Inc., Block Inc., ACI Worldwide Inc., Money Gram International Inc., Dawood Hercules Corporation Limited, Oxigen S.ervices Pvt. Ltd., Mobikwik Systems Ltd., ZipCash Card Services Pvt. Ltd., Vodafone M-pesa Limited, One97 Communication India Ltd., Citrus Payment Solutions Pvt. Ltd

Tech Innovations Transforming Consumer Mobile Payments

Major companies operating in the consumer mobile payment market are focused on adopting advanced payment solutions such as microPay, to simplify digital payments. A micropayment is a small financial transaction, typically less than a dollar, conducted online for various goods or services such as online purchases, freelance work, or digital content. For instance, in March 2023, Axis Bank Ltd., an India-based multinational banking and financial services company, launched MicroPay, a Pin on Mobile' technology for accepting digital payments. It converts a merchant's smartphone into a point-of-sale (POS) terminal to simplify digital payments. It offers them a cost-effective means to accept payments through card, UPI, BQR code, etc., while maintaining the highest security standards.

Fleetcor Technologies Inc. Expands Consumer Mobile Payment Reach with PayByPhone Acquisition

In November 2023, Fleetcor Technologies, Inc., a US-based business payments and spend management company, acquired PayByPhone for an undisclosed amount. Through this acquisition, Fleetcor aims to enhance its vehicle payment solutions for business-to-business fleet customers and consumers. This strategic move is expected to drive significant long-term growth by leveraging PayByPhone's user-friendly technology and extensive reach in the parking industry. PayByPhone Technologies is a Canada-based company that provides mobile payment solutions in the parking and transportation industries. North America was the largest region in the consumer mobile payment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the consumer mobile payment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the consumer mobile payment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The consumer mobile payment market includes revenues earned by entities by services such as digital wallet transactions, mobile banking, transaction processing and security solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The consumer mobile payments market research report is one of a series of new reports from The Business Research Company that provides consumer mobile payments market statistics, including consumer mobile payments industry global market size, regional shares, competitors with a consumer mobile payments market share, detailed consumer mobile payments market segments, market trends and opportunities, and any further data you may need to thrive in the consumer mobile payments industry. This consumer mobile payments market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.