Global Digital Banking Market Growth (Status and Outlook) 2023-2029

Global Digital Banking Market Growth (Status and Outlook) 2023-2029

Digital banking is a move to online banking, where banking services are provided over the Internet.Over the years, the market for digital channel platforms has evolved from online and mobile specific banking solutions to digital banking platforms that are not related to channels.Advanced and mature digital banking platforms are highly flexible and can integrate many different banking services through a good interactive user interface (UI) or customer experience.This factor is the main reason why global companies have such a strong pull on digital banking.In addition, Banks are now under enormous pressure to improve operational efficiency and reduce bank costs while providing advanced next-generation digital banking services.Digital banking platform vendors are now developing smart and smart banking platforms to meet the needs of Banks and customers.This includes the need for channel integration support and dynamic customer experience to make core banking easier to implement, as well as the devices customers want to use or are interested in and affordable.The digital banking industry is relatively fragmented, with many small and new companies.Large global companies are mainly located in the us and Europe.American and European companies have a long history and an unshakable position in this field.The main markets for digital banking are in developed countries.North America has the largest market for digital banking platforms in terms of revenue generation.The regional market was driven by the early adoption of digital technology in banking.The asia-pacific market is expected to grow at a good pace during the forecast period.Strong growth in IT infrastructure and significant investment in digital banking by public and private companies are expected to support growth in the regional market.North America had a 37 percent market share in 2018, followed by Europe with 38 percent.The asia-pacific consumer market is growing even faster, however, with a market share of only 20 percent in 2018.In the rest of Asia Pacific, the Australian market is developing relatively well.In 2018, pc-based digital banking accounted for about 67% of the market share, and most of the products of the market belong to pc-based digital banking. In 2018, the market share of mobile digital banking was 33%. It is expected that the number of mobile digital banking will increase significantly in the next few years.Small and medium-sized enterprises (smes) are still the main application group in the market, accounting for about 59% of the market share in 2018. The development rate of smes is faster than that of large enterprises. By 2025, the market share of smes will expand to 60%.The development of digital Banks in China is relatively backward compared with that in Europe and the United States. Many large enterprises are still in the financing stage, and the market is expected to develop rapidly in the next few years.
LPI (LP Information)' newest research report, the “Digital Banking Industry Forecast” looks at past sales and reviews total world Digital Banking sales in 2022, providing a comprehensive analysis by region and market sector of projected Digital Banking sales for 2023 through 2029. With Digital Banking sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Digital Banking industry.
This Insight Report provides a comprehensive analysis of the global Digital Banking landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Digital Banking portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Digital Banking market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Digital Banking and breaks down the forecast by terminal, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Digital Banking.
The global Digital Banking market size is projected to grow from US$ 10590 million in 2022 to US$ 37320 million in 2029; it is expected to grow at a CAGR of 19.7% from 2023 to 2029.
The leading market for digital banking is the United States, with about 50% of the market, followed by Europe, with about 30%.
Major enterprises include SAP, Misys, Q2, Kony, Infosys, etc., with the top three accounting for about 45%.
This report presents a comprehensive overview, market shares, and growth opportunities of Digital Banking market by product type, application, key players and key regions and countries.
Market Segmentation:
Segmentation by terminal
PC
Mobile
Segmentation by application
Individual
SME Digital Banking
Corporate Digital Banking
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Urban FT
Kony
Backbase
Technisys
Infosys
Digiliti Money
Innofis
Mobilearth
D3 Banking Technology
Alkami
Q2
Misys
SAP

Please note: The report will take approximately 2 business days to prepare and deliver.