Dublin, Jan. 22, 2024 (GLOBE NEWSWIRE) -- The "Digital Banking Platform Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The latest comprehensive research on the global digital banking platform market examines the significant growth trajectory expected in the upcoming years. With the industry set to expand from $6.68 billion in 2023 to an estimated $7.49 billion in 2024, the market demonstrates a robust compound annual growth rate (CAGR) of 12.0%.
Rapid Growth Forecasted in Digital Banking Platform Market
The digital banking platforms industry is experiencing a period of rapid growth and development. Powered by advancements in technology, increasing customer expectations, and a need for enhanced data security and privacy measures, the market is projected to reach $12.49 billion by 2028, boasting a CAGR of 13.6%.
Key Market Segments and Trends
- The corporate and retail banking segments continue to evolve with digital solutions that cater to diverse customer needs.
- Online and mobile banking emerge as dominant banking modes with cloud and on-premise deployment options increasing in popularity.
- Sustainability and green banking, AI-powered insights, and analytics are seen as major trends within the industry.
Technological Advancements Propel Market Growth
Technological innovation remains a driving force behind the market's expansion, with major companies focusing on cutting-edge solutions such as modular digital banking platforms capable of handling vast quantities of customer data effectively.
Smartphone Adoption Fuels Expansion
The increasing adoption of smartphones is also a significant factor contributing to market growth. Smart devices are playing a pivotal role in facilitating convenient and secure financial management, which in turn benefits banks by optimizing their operations and enhancing customer engagement.
Leading Regions in Digital Banking Platforms
- North America has been identified as the largest market for digital banking platforms in 2023.
- Asia-Pacific is anticipated to be the fastest-growing region during the forecast period, demonstrating rapid adoption and innovation in digital banking technologies.
Industry Leaders Innovate with Cloud-Based Solutions
Cloud banking services are at the forefront of the industry's innovative efforts, with numerous financial institutions adopting cloud-native services to enhance banking operations. This research sheds light on the market's value derived from the direct revenues obtained by participating entities. The global market landscape is explored in terms of regional consumption values, and the expansive analysis provides strategic insights into current and future market scenarios. Professionals, stakeholders, and industry enthusiasts can now delve into the wealth of knowledge presented in this survey, which captures a holistic view of the digital banking platforms market and its expected evolution in the coming years.
Report Scope
Markets Covered:
- By Type: Corporate Banking; Retail Banking
- By Component: Platforms; Services
- By Banking Mode: Online Banking; Mobile Banking
- By Deployment: Cloud; On-Premise
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Companies Profiled
- 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.
For more information about this report visit https://www.researchandmarkets.com/r/by4bjb
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