Banking Predictions 2022 - Thematic Research
Summary
This report identifies the 20 themes that will impact the banking industry in 2022. For each theme, we offer a series of predictions, identify winners and losers, and suggest further reading.
Companies that invest in the right themes become success stories; those that miss the big themes end up as failures. Given that so many themes are disruptive, it is very easy to be blindsided by industry outsiders who invade your sector.
To help our clients gain a competitive advantage, we developed our thematic research ecosystem - a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors.
Scope
- We expect there to be greater scrutiny of ESG pledges as governments involve themselves to ensure banks stick to their word. This was most shockingly seen late in 2021 when the Federal Court of Australia granted access to internal documents to a CommBank shareholder seeking to investigate whether the bank had infringed upon its own 2019 climate policies.
- Companies that do not adopt a zero-trust approach will be more likely to experience a cyberattack in 2022. Zero-trust means assuming that whatever entity is trying to gain access is untrustworthy until its identity and hygiene are verified.
- AR will be a key technology in the future of work and, as such, will be a focus area for enterprises in 2022. Despite this, large-scale adoption will be held back by the high price of the hardware.
- Understand the most disruptive themes in banking in 2022.
- Discover which individual firms are best placed to “win” or “lose” amid predicted thematic impacts.
- Executive Summary
- Top Themes for 2022
- Viewing the world's data by theme helps you make important decisions
- Table Figure 1: The biggest themes driving growth in the banking industry
- Viewing the world's data by theme helps you make important decisions
- ESG
- ESG will be the key theme discussed in corporate boardrooms in 2022 (and beyond)
- Table Figure 2: ESG
- ESG in banking is often geared toward investors (not customers)
- A more measured, customer-focused approach to ESG in 20202
- Winners and losers
- Further reading
- ESG will be the key theme discussed in corporate boardrooms in 2022 (and beyond)
- Artificial Intelligence
- The AI market will be worth $190 billion in 2025, up from $67 billion in 2021
- Table Figure 3: Artificial Intelligence
- 2022 will see the expansion of practical and unobtrusive AI
- Big Tech's advantage in AI will only widen
- Explainable AI will result in increased investment in synthetic data training startups
- Winners and losers
- Further reading
- The AI market will be worth $190 billion in 2025, up from $67 billion in 2021
- Cybersecurity
- The cybersecurity industry will be worth $238 billion in 2030
- Table Figure 4: Cybersecurity
- Cyber threats will increase in sophistication and intensity
- Organizations will start taking the zero-trust approach seriously
- AI will enable more predictive threat management
- Winners and losers
- Further reading
- The cybersecurity industry will be worth $238 billion in 2030
- Data Privacy
- Ongoing tensions between privacy and innovation
- Privacy is more than compliance
- Ongoing tech modernization will deliver better privacy
- Privacy-enhancing technologies
- Winners and losers
- Further reading
- Metaverse
- A mega-theme that will revolutionize digital media
- Table Figure 5: Metaverse
- Gaming will be an ideal starting point
- Enterprises will be a key frontier
- Data privacy will come to the fore
- Regulators will stunt metaverse growth in China
- Winners and losers
- Further reading
- A mega-theme that will revolutionize digital media
- Augmented Reality
- Augmented reality will become an $11 billion industry in 2022
- Table Figure 6: Augmented Reality
- AR will become ubiquitous across industries
- Big Tech will launch new AR wearables
- Enterprises will be a crucial frontier for AR's growth
- Metaverses will bring AR to the fore
- Winners and losers
- Further reading
- Augmented reality will become an $11 billion industry in 2022
- COVID-19
- The global economy will recover in 2022 following the mass vaccine rollout
- Table Figure 7: COVID-19
- Companies will continue to digitize rapidly
- Changes in consumer behavior will continue to benefit ecommerce giants
- More vaccine doses will put pressure on the world's supply chains
- Winners and losers
- Further reading
- The global economy will recover in 2022 following the mass vaccine rollout
- The Future of Work
- Collaboration and visualization tools will be key to the future of work
- Table Figure 8: The Future of Work
- Most offices will return to at least 50% capacity by May 2022
- The shift towards reshoring manufacturing will continue
- The gig economy model will become increasingly unsustainable
- Winners and losers
- Further reading
- Collaboration and visualization tools will be key to the future of work
- Cloud
- The global cloud computing market will be worth $616 billion by the end of 2022
- Table Figure 9: Cloud
- Expect increased investment in cybersecurity from companies using public cloud
- There will be a shift to the edge of the network
- Financial service providers will migrate more core banking to the cloud
- Winners and losers
- Further reading
- The global cloud computing market will be worth $616 billion by the end of 2022
- Embedded Finance
- Open banking enables embedded finance
- Providers will embed finance in non-financial journeys
- A multi-dimensional view on the value of banking
- Small BaaS players outperform in firm category
- Big incumbent banks seek to be industry scaffolding
- Winners and losers
- Further reading
- China Impact
- China will assert its technological power and independence on the global stage
- Table Figure 10: China Impact
- Crackdowns on large tech companies will continue into 2022 and beyond
- China will focus on furthering the Digital Silk Road project
- Xi will remain in power past the 20th Party Congress
- Winners and losers
- Further reading
- China will assert its technological power and independence on the global stage
- Robotic Process Automation
- The robotics industry will be worth $568 billion by 2030, up from $45 billion in 2020
- Table Figure 11: Robotic Process Automation
- Google and Amazon will challenge Asian companies' dominance of robotics patents
- Workforce decline will drive European acceptance of robots
- 2022 will see exciting developments in soft and self-healing robots
- Winners and losers
- Further reading
- The robotics industry will be worth $568 billion by 2030, up from $45 billion in 2020
- Internet of Things
- Wearable tech will continue to dominate consumer IoT
- Wearable tech will generate revenues of $97.5 billion in 2022
- Big Tech and carmakers will collaborate on the connected car market
- Smart security will lead the automated home market
- Winners and losers
- Further reading
- Fintech
- Open banking will encourage more strategic partnerships with tech companies
- Table Figure 12: Fintech
- Mobile wallets and mobile commerce will fuel super apps
- Generation Hashtag will drive innovation in stock trading apps and BNPL
- Winners and losers
- Further reading
- Open banking will encourage more strategic partnerships with tech companies
- Cryptocurrency
- The cryptocurrency market is worth $3 trillion and will continue to grow in 2022
- Table Figure 13: Cryptocurrency
- DeFi will disrupt traditional financial institutions
- Too big to ban: regulation will make crypto mainstream
- NFTs will continue to grow and present an interesting value proposition
- Winners and losers
- Further reading
- The cryptocurrency market is worth $3 trillion and will continue to grow in 2022
- Healthtech
- Health and wealth integration
- Providers will bundle savings, insurance, and credit products
- Healthcare will deliver high-frequency engagement
- Winners and losers
- Further reading
- Social Media
- Social media scrutiny will reach new heights
- Table Figure 14: Social Media
- Adoption of super-apps will be sluggish outside of China
- There will be frequent attempts to regulate social media algorithms
- Social media leaders will have a difficult year
- Winners and losers
- Further reading
- Social media scrutiny will reach new heights
- M&A
- Cloud computing, IoT, and digital media are driving TMT M&As
- Hardware M&A targets
- Software and services M&A targets
- Internet and media M&A targets
- Further reading
- Online Payments
- Continued growth in online payments
- APAC dominates alternative payments growth
- Open banking payments
- Winners
- Further reading
- Instant Payments
- Continued growth in instant payments
- Enduring differences in paths and progress
- Open banking payments
- Winners
- Further reading
- Glossary
- Table Glossary
- Data Sources
- Table GlobalData Database
- Further Reading
- Table GlobalData reports
- Our thematic research methodology
- Table Figure 15: Our five-step approach for generating a sector scorecard
- About GlobalData
- Contact Us
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