Dublin, April 24, 2023 (GLOBE NEWSWIRE) -- The "Digital Banking: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Digital Banking Market to Reach $53.5 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Digital Banking estimated at US$18.1 Billion in the year 2022, is projected to reach a revised size of US$53.5 Billion by 2030, growing at a CAGR of 14.5% over the analysis period 2022-2030.
Retail Banking, one of the segments analyzed in the report, is projected to record a 13.2% CAGR and reach US$21.9 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Corporate Banking segment is readjusted to a revised 16.9% CAGR for the next 8-year period.
The U.S. Market is Estimated at $5.2 Billion, While China is Forecast to Grow at 18.2% CAGR
The Digital Banking market in the U.S. is estimated at US$5.2 Billion in the year 2022. 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 18.2% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.2% and 12.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 13.4% CAGR.
Looking Ahead to 2023
As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession.
Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.
Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 487 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $18.1 Billion |
| Forecasted Market Value (USD) by 2030 | $53.5 Billion |
| Compound Annual Growth Rate | 14.5% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (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
- Spurred by the Pandemic & Its Low Touch Norm, Rapid Progress Towards a Cashless Society Provides Opportunities On a Platter for Digital Banking Technologies & Services
- These are Times When Questions Abound & Answers Are Few
- So How Fast Or Slow Are We Moving?
- How Fast the World is Vaccinated Will Determine How Soon the Pandemic Will End
- As India Burns Amid a Lethal Double & Triple Mutation Driven Second Wave, Its Clear That Equity is Not a Part of Global Policy on Tackling COVID
- What We Know So Far - "Vaccine Efficiency Against New Strains is Decreasing"
- Progress on Vaccinations, Why Should Businesses Care?
- Digital Banking: Definition, Overview, Importance & Benefits
- Recent Market Activity
- Innovations
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?
FOCUS ON SELECT PLAYERS (Total 222 Featured)
- Appway AG
- Backbase
- EdgeVerve Systems Limited
- Fidor Solutions AG
- Fiserv, Inc.
- NETinfo PLC
- NF Innova
- Oracle Corporation
- SAP AG
- Tata Consultancy Services Limited
- Technisys
- Temenos Group AG
For more information about this report visit https://www.researchandmarkets.com/r/sysz7s
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