Juniper now forecasts that over half of global revenue will be generated in China by 2024 — primarily owing to its increasing consumer affluence, and vast usage of Chinese social payments platforms such as WeChat Pay.
“The past few days should be a wake-up call for everyone in financial services. For any firm, the time to power up digital and CX transformation work is here — the disruptors are at the gate, but it is not too late.”
Most enterprises today have implemented digital tools to increase their employees’ productivity and give them a better workplace experience. Yet, despite the employee-centric intent of the tools, our discussions with enterprises revealed that they’re actually having the opposite effect.
via Everest Group
According to the latest worldwide market study by Berg Insight, the number of active aftermarket car telematics units will grow at a compound annual growth rate (CAGR) of 20.6 percent from 58.7 million at the end of 2018 to 150 million at the end of 2023.
According to Juniper Research, the applications of unique mobile identifier services, which provide secure digital identity verification through SIMs, will generate over $7 billion for mobile network operators in 2024. This estimate is up from an expected $859 million in 2019 — a growth rate of over 800 percent.
Spending via digital wallets across Europe and North America will increase by 40 percent this year to nearly $790 billion, according to Juniper Research. The largest growth in 2019 will come from in-store payments, with mobile contactless payments more than doubling across these regions.
According to Juniper Research, driven by the increasing acceptance of alternative approaches to traditional banking solutions, fintech platform revenues will reach $638 billion by 2024 — that’s up from an estimated $263 billion in 2019.