Share
Digital banking Market Segments: by service (Digital Payments, Digital Sales); by application (personal and enterprises sector) and Region-Global Analysis of Market Size, Share & Trends for 2019 - 2020 and Forecasts to 2030
Digital banking is a concept that allows banks and their clients to process banking transactions, operations, and activities on an end-to-end basis without any problems. The spread of the technology in different parts of the banking system and the introduction of smartphones helps bankers to modernize their conventional banking system. Widespread accessibility, maximum utility, and reduced-price are some of the main factors in the current environment of the high adoption of digital banking. In addition, banks constantly adopt new applications to meet their clients' requirements, offering services such as ATM, web banking, mobile banking, SMS banking, etc.
Global Digital banking to surpass USD 36.2 million by 2030 from USD 8.645 million in 2020 at a CAGR of 15.4% in the coming years, i.e., 2021-30. This growth is anticipated due to increasing mergers and acquisitions across various sectors which will create a worldwide demand for digital banking. The growth of online stores is also propelling the selling of high-end products. E-commerce allows the simple purchasing of goods manufactured in remote locations. This, in turn, has made a major contribution to the development of the global Digital banking industry.
Global Digital banking is segmented by service into Digital Payments, Digital Sales. Digital Payments segment held the largest market share of XX in the year 2020. The Digital Payment expected to be the largest digital banking service component in the forecasted period and will be leading the market. The growing sale of banking products and services via digital platforms drives banks throughout the world's digital sales. In 2019, the digital market was estimated to be $XX trillion, reaching $XX trillion truly by 2030.
Global Digital banking is segmented by application into the personal and enterprises sector. Over the forecast period, the enterprise application is projected to expand at the fastest pace. Enterprises are adopting into this Digital banking market as they facilitate better management of payments and all other online services while the personal application segment is anticipated to register the highest CAGR in the future.
In order to speed up digital innovation, the digital banking market is witnessing heavy investments. Throughout the last 5 years, the fintech industry has gained momentum. In 2019, Fintech's projected investments in various deals globally amounted to USD XXXX billion. Recognizing the rise of Fintech players, banks want to enhance their digital banking investment, and some banks are even starting to partner or invest in them, generating new opportunities for market expansion.
Continuing the use of online and mobile bank platforms, increasing adoption and internet penetration of smartphones, integration of high technology, increased customer experience requirements, the development of retail banking, and supporting government initiatives and policies are key factors in worldwide growth of digital banking. Manipulating the growth of the global digital banking market is the widespread usage of online and mobile banking platforms. Due to the increasing adoption of smartphones and increasing internet penetration, many financial institutes have movement to digital sources to provide their services
The range of banking products on offer from Digital banking and challenger banks are limited to everyday transactions and savings accounts which are expected to act as a restraint in the Digital banking market.
Urban FT
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Digital banking is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Global Digital banking in Europe held the largest market share of XX% in the year 2020 in terms of revenue. Europe held a maximum share of around 48% of the global Digital Banking market due to the emergence of multiple technology startups and early adoption technology. Latin America is likely to dominate the European market in the near future. The APAC Digital banking market is projected to grow over the forecast period due to the increasing investments in the fintech sector. Asia is seen, in addition to Europe and Latin America, as one of the world’s major regions that show an upcoming growth in this sector.
Digital Banking Segments:
Select License Type
Select License Type
FATPOS CLIENT Appriciation DURING THE PROJECT
Working with Fatpos Global, allowed us to take advantage of their knowledge and easy approach, allowing us to collect important data utilizing a variety of techniques. The results were clearly presented and explained, and FG responded to our questions with speed and expertise.
|
Swiss-based global building materials manufacturer |
The analyses and presentations Fatpos Global have produced for us have been of a very high caliber and have allowed us to proactively improve our customer relationship management. They have also done so while maintaining complete anonymity. Without any doubt, we suggest Fatpos Global to you.
|
|
Tech-powered construction company |
We appreciate the team’s punctuality, flexibility in terms of report modification, post report purchase support and pleasant reaction all around. Overall, my experience with this company was nothing but positive, and I couldn't be more grateful for their excellent service. Thank you for all that you do!
|
|
American global management consulting firm |
We are able to concentrate on the topics and implications that are most important to our clients thanks to the adaptability and responsiveness of the team at Fatpos Global. We would highly recommend this company to anyone in need of their services, and I will certainly be using them again in the future.
|
|
Headquartered in Zug, Switzerland, leading supplier of medical and surgical instrument |
To better study our client demographics, develop the ideal product-price architecture, and enhance our target marketing initiatives, we hired Fatpos Global. Every component of the project was completed, and we are very happy with the useful insights and actionable results.
|
|
Kosovan company, A leading organic fertilizers producer |
Thank you for your team's generous assistance, The final report was delivered to me, and I find it to be really helpful. Also, you may be sure that I will get in touch with you if I ever require fresh materials for market research. Gratitude once more.
|
|
German specialty chemicals company based in Cologne, Germany |
