Global Digital Banking Sales Market Report 2023

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.

Market Analysis and Insights: Global Digital Banking Market

Due to the COVID-19 pandemic, the global Digital Banking market size is estimated to be worth US$ 10830 million in 2022 and is forecast to a readjusted size of US$ 37090 million by 2029 with a CAGR of 19.0% during the forecast period 2023-2029. Fully considering the economic change by this health crisis, PC accounting for % of the Digital Banking global market in 2022, is projected to value US$ million by 2029, growing at a revised % CAGR from 2023 to 2029. While Individual segment is altered to an % CAGR throughout this forecast period.

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%.

Global Digital Banking Scope and Market Size

The global Digital Banking market is segmented by company, region (country), by Terminal and by Application. Players, stakeholders, and other participants in the global Digital Banking market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by region (country), by Terminal and by Application for the period 2018-2029.

Segment by Terminal

PC

Mobile


Segment by Application


Individual

SME Digital Banking

Corporate Digital Banking

By Region

United States

Europe

China

Japan

Southeast Asia

India

Other Regions


By Company


Urban FT

Kony

Backbase

Technisys

Infosys

Digiliti Money

Innofis

Mobilearth

D3 Banking Technology

Alkami

Q2

Misys

SAP