The digital banking platform global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Digital Banking Platform Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The digital banking platform market size has grown rapidly in recent years. It will grow from $6.68 billion in 2023 to $7.49 billion in 2024 at a compound annual growth rate (CAGR) of 12.0%. The growth in the historic period can be attributed to rise of internet and mobile devices, customer expectations, regulatory changes, security enhancements, cost reduction and efficiency, pandemic impact and remote banking.
The digital banking platform market size is expected to see rapid growth in the next few years. It will grow to $12.49 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The growth in the forecast period can be attributed to digital transformation investments, collaboration with fintech startups, global expansion and market competition, ai-powered insights and analytics, data security and privacy measures.. Major trends in the forecast period include data-driven decision making, remote and digital onboarding, sustainability and green banking, ecosystem expansion..
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Scope Of Digital Banking Platform Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Digital Banking Platform Market Overview
Market Drivers –
The shift in trend from traditional banking to online banking is expected to propel the growth of the digital banking platform market going forward. Online banking refers to an electronic payment system that enables customers to conduct a range of financial transactions through a website or payment app. Online banking helps improve services and increase profits, causing financial institutions to shift their focus to digital banking, resulting in the growth of the digital banking platform market. For instance, according to India Brand Equity Foundation, an Indian government export promotion agency, by 2025, India’s fintech market is expected to reach Rs. 6.2 trillion (USD 83.42 billion). Fintech financial services are responsible for transforming the banking system into various digital channels, such as online channels and social channels. Therefore, the shift in trend from traditional banking to online banking is driving the digital banking platform market growth.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The digital banking platform market covered in this report is segmented –
1) By Type: Corporate Banking, Retail Banking
2) By Component: Platforms, Services
3) By Banking Mode: Online Banking, Mobile Banking
4) By Deployment: Cloud, On-Premise
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Regional Insights –
North America was the largest region in the digital banking platforms market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital banking platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the digital banking platform market report are Appway AG, Crealogix Holding AG, EdgeVerve Systems Limited, Fiserv Inc., Oracle Corporation, SAP SE, Sopra Steria, Temenos AG, Worldline SA, Cor Financial Solution Ltd., Fidelity National Information Services Inc., Vsoft Corporation, Apiture, The Bank of New York Mellon Corporation, CR2 Ltd, Alkami Technology Inc., Finastra Group Holdings Limited, Urban FT Group Inc., Q2 Software Inc., Sopra Banking Software SA, Tata Consultancy Services Limited, Backbase B. V., ebankIT- Sistemas de Informação S. A., Intellect Design Arena, Mambu GmbH, MuleSoft LLC, nCino Inc., National Cash Register Corporation, NETinfo Plc, Technisys S. A.
1. Executive Summary
2. Digital Banking Platform Market Report Structure
3. Digital Banking Platform Market Trends And Strategies
4. Digital Banking Platform Market – Macro Economic Scenario
5. Digital Banking Platform Market Size And Growth
…..
27. Digital Banking Platform Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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