Get the Insider Scoop Into What’s Driving the US$22.3 billion Opportunity for Digital Banking
The global market for Digital Banking is projected to reach US$22.3 billion by 2025, driven by the growing base of internet users equipped with smart phones, mobile internet connections, and an insatiable appetite for convenience.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Digital Banking market. The segments covered in the study include Type (Retail Banking, Corporate Banking, and Investment Banking); and Solution (Payments, Processing Services, Customer & Channel Management, Risk Management, and Other Solutions); Technology (Cloud-based, BaaS, BaaP, White Label Banking, and Chatbots).
10 June 10:09 A.M., California/Marketwire/ - According to the new market research report, the global market for Digital Banking is projected to reach US$22.3 billion by 2025, driven by the growing base of internet users equipped with smart phones, mobile internet connections, and an insatiable appetite for convenience. The market will be reset to a new normal which going forwards in a post crisis era will be continuously redefined and redesigned. Payments, one of the segments analyzed and sized in this study, is forecast to grow at over 12.2% and reach a market size of US$7 billion by the end of the analysis period.
Although the COVID-19 pandemic is poised to induce a large-scale economic crisis that potentially impacts the banking & finance sector, the digital banking transaction volumes are most likely to post healthy momentum in the mid- to short-term. With lockdowns and social distancing norms still in place in several parts of the world, there has been a sustained increase in online banking transaction volumes, while generating robust impetus to digital banking solutions market. The rapidly digitalizing lifestyle of modern consumers, developments in mobile app ecosystem, secure payment gateways and other digital banking tools are likely to flare up the overall transaction volumes. Underpinning the digital revolution, a large number of banks will begin offering retail banking services through smart phones, tablets, PCs and smart watches by the year 2022. Intense pressure on banking firms to minimize operating costs in order to stay competitive will have a major bearing on uptake of digital banking solutions. Convenience has and will remain the key force driving the change in consumer banking habits.
Key Competitors Covered in the Report
EdgeVerve Systems Limited
Fidor Solutions AG
Tata Consultancy Services Limited
Temenos Group AG
Geographies Analyzed in the Report
Europe (France, Germany, Italy, UK, Rest of Europe)
Rest of World
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 34613. Among this pool, 2769 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 692 unique participations, a total of 311 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world's only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
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Global Industry Analysts, Inc.