Global Digital Banking Market, By Services (Non-Transactional Activities, Transactional), Deployment Type (On-Premises, On Cloud), Technology (Internet Banking, Digital Payments, Mobile Banking), Industries (Media & Entertainment, Manufacturing, Retail, Banking, Healthcare), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights: Global Digital Banking Market
The digital banking market is expected to witness market growth at a rate of 7.45% in the forecast period of 2021 to 2028. Data Bridge Market Research report on digital banking market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rapid digitization globally is escalating the growth of digital banking market.
Digital banking refers to easy, quick, and convenient method or technology that assist an individual or a business for controlling and handling everyday finances. The customer simply logs in on any internet connected device for transferring funds, checking balances and paying bills. Banks nowadays provide digital banking services and solutions, where features and benefits vary from bank to bank.
The rise in adoption of smartphones and tablets across the globe acts as one of the major factors driving the growth of digital banking market. The increase in focus on creating additional customer-centric products & services, among banking organizations, and surge in partnership with FinTech corporations and other third-party interfaces for delivering an enhanced customer experience accelerate the market growth. The rise in adoption of cloud-based platforms to obtain higher scalability, and increase in shift of consumers toward digital banking services to perform many of their day-to-day financial tasks further influence the market. Additionally, high penetration of electronic gadgets, rapid digitization, and easy access to the high speed internet services positively affect the digital banking market. Furthermore, increased cross-selling and upselling and recent advancements in AI extend profitable opportunities to the market players in the forecast period of 2021 to 2028.
- On the other hand, reluctance in performing digital transactions and difficulty in integrating digital banking platforms with legacy systems are expected to obstruct the market growth. The rise in security concerns is projected to challenge the digital banking market in the forecast period of 2021-2028.
This digital banking market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on digital banking market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Digital Banking Market Scope and Market Size
The digital banking market is segmented on the basis of services, deployment type, technology and industries. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of services, the digital banking market is segmented into non-transactional activities, and transactional. Transactional services are further segmented into cash deposits and withdrawals, fund transfers, auto-debit/auto-credit services and loans. Non-transactional activities are further segmented into information security, risk management, financial planning and stock advisory.
- On the basis of deployment type, the digital banking market is segmented into on-premises and on cloud.
- On the basis of technology, the digital banking market is segmented into internet banking, digital payments and mobile banking.
- On the basis of industries, the digital banking market is segmented into media & entertainment, manufacturing, retail, banking, and healthcare.
Digital Banking Market Country Level Analysis
The digital banking market is analyzed and market size, volume information is provided by country, services, deployment type, technology and industries as referenced above.
The countries covered in the digital banking market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominate the digital banking market due to the high adoption of developmental strategies such as product launches to preserve the customer and customer data for improving their sales within the region. Asia-Pacific is expected to witness highest growth during the forecast period of 2021 to 2028 because of the high economic growth in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Digital Banking Market Share Analysis
The digital banking market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to digital banking market.
The major players covered in the digital banking market report are Appway AG., THE BANK OF NEW YORK MELLON CORPORATION, CREALOGIX AG., ebanklT, ETRONIKA, Fidor Solutions AG, Finastra., Halcom, ieDigital, Infosys Limited, Intellect Design Arena Ltd, Temenos Headquarters SA, NETinfo Plc, NF Innova, Oracle, SAP, Sopra Steria, Tata Consultancy Services Limited., Technisys, Temenos Headquarters SA, and Worldline among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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