Spiralling consumer demand for network services will lead to wireless home bandwidth requirements jumping by a whopping 1,800 per cent to 57Mbps by 2009. According to a newly released study from JupiterResearch, wireless bandwidth requirements for the typical broadband home with a wireless network will grow from less than 3Mbps in 2004 to a likely 57Mbps in 2009. JupiterResearch estimates that tech-savvy households of three individuals will require wireless bandwidth of up to 84Mbps, driven primarily by changes in the home use of consumer electronics and changing consumption patterns for digital media at home. Overall, in 2004 some 7.5 million US households indicated that they have a home network that is at least partly wireless. JupiterResearch forecasts that the number of wireless home network households in the US will rise to 34.3 million by 2009. "Consumers are beginning to shift their paradigms for internet access, home networking and digital content management." "The number of consumer electronics devices using a wireless network in the home could explode over the next five years, driving bandwidth requirements beyond today's offerings." "To exploit this trend, consumer electronics manufacturers will increasingly need to conceive of their products as always-on nodes in a wireless network."
The Open Banking business model has been advantageous for Third-Party Providers (TPPs), helping them to extend their offerings into other areas of financial services with new capabilities. Open Banking is also advantageous for traditional banking institutions, despite the perceived loss of custodianship over their data, by providing greater accessibility to more bank services. Furthermore, Open Banking can help serve Mobile Internet providers that are able to leverage it to create tailored services according to customers’ preferences and/or economic limitations. Open Banking Market Development Since traditional banking services are made more convenient by TPPs via greater data access, customers can proactively manage their finances and shape the development of new financial offerings. This is particularly noticeable in the realm of Digital Payments, where retail merchants and customers transact through eCommerce, which has the greatest number of use cases for Open Banking. These includ