Digital Banking Global Strategic Business Report 2024 - The Rise of the On-Demand Economy & Customer Self-Service Tilts Digital Banking Technologies into the Mass Adoption Stage
The global market for Digital Banking estimated at US$21.1 Billion in the year 2023, is projected to reach a revised size of US$53.5 Billion by 2030, growing at a CAGR of 12.4% over the analysis period 2023-2030.
Retail Banking, one of the segments analyzed in the report, is projected to record 11.2% CAGR and reach US$21.9 Billion by the end of the analysis period. Growth in the Corporate Banking segment is estimated at 14.3% CAGR for the next 8-year period.
The Digital Banking market in the U.S. is estimated at US$6.1 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$9.3 Billion by the year 2030 trailing a CAGR of 15.4% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.7% and 10.3% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 11.4% CAGR.
Key Market Trends & Drivers
Digital Lifestyles & the Ensuing Rise in FTTH Connections Encourage Internet Banking Habits
More Homes With Fiber Internet Increases the Odds of Digital Banking Adoption
Spectacular Rise in eCommerce and mCommerce Strengthens the Business Case for Digital Banking
Pandemic Fast Forwards eCommerce Growth
Mobile Wallets & Payments Goes Mainstream as Mobile Banking Gains Popularity
Mobile Banking: A Primer
Share of Mobile Payments Becomes Bigger
Developments in Mobile Wallets Encourage Increase in Mobile Payments
Mobile Money Flourishes in Developing Countries
The Rise of the On-Demand Economy & Customer Self-Service Tilts Digital Banking Technologies into the Mass Adoption Stage
Robust Developments in Biometrics to Counter Fraud to Infuse Confidence in Digital Banking
Here's How Biometrics Role in Banking and Financial Institutions is Getting Bigger
Regulatory Mandates Promote Adoption Biometrics Technology in Banking Sector
Growing Ubiquity of Electronic Bill Presentment & Payment (EBPP) Systems Forces Customers to Move Towards Electronic Modes of Payment
Growing Focus on Environmental Sustainability to Benefit Digital Banking
Role of Artificial Intelligence in Banking Gets Bigger
Blockchain Emerges to Disrupt the Banking Industry
Online Banking Fraud Could Become History With Blockchain
Mind Bending Losses Accruing Due to Online Banking Fraud Pushes Up the Urgency to Explore the Unrivalled Security Benefits Offered by Blockchain
Blockchain-based Payments Processing: An Active Area of Interest for Banks
Big Data Explosion, a Fallout of Digitalization of Banking Activities
Is Quantum Computing Ripe for the Banking Industry?
Key Report Features
Full access to influencer engagement stats
Free access to digital archives & research platform. The proprietary platform is fully enabled to unlock creativity and market knowledge of domain experts worldwide in a cohesive and collaborative manner. The state-of-art tools bring world class market perspectives while protecting participants` privacy and identity. Numbers, statistics and market narrative in the report are based on fully curated insights shared by domain experts and influencers in this space.
Opportunity to engage with interactive questionnaires that come with real-time data simulator tools & bespoke report generation capabilities
Full client access to peer collaborative and interactive platform for cross-enterprise smart exchange of ideas
Complimentary report updates for one year
Competitor coverage with global market shares of major players
Player market presence analysis (Strong/Active/Niche/Trivial) across multiple geographies
Access to curated YouTube video transcripts of domain experts/influencer interviews, podcasts, press statements and event keynotes
The report focuses on 222 key players in the market.
A selection of the featured companies include:
Bank of America, N.A.
Bottomline Technologies, Inc.
[24]7.ai, Inc.
AlSego
Alkami Technology
Beluga Pay
Blockchain Worx
Airfox, Inc.
AIZEN Global
B at Clydesdale Bank
Bankera
Bankiom
CardAlpha
Bitwala
Apiax
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
World Market Trajectories
Digital Banking - Global Key Competitors Percentage Market Share in 2023 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
Internet Infrastructure Provides the Cornerstone for the Growth of Digital Banking
Global Efforts to Go Cashless Provides Policy Led Support for the Evolution of Digital Banking
Digital Banking: Definition, Overview, Importance & Benefits
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