Global Digital Banking Platform Market 2023
The Digital Banking market is expected to experience a period of steady growth, driven by the increasing demand for digital banking services and the growing trend towards digitalization in the banking sector. The market is also expected to benefit from the introduction of innovative technologies such as artificial intelligence (AI), blockchain, Internet-of-Things (IoT), and cloud computing. The digital banking market is estimated to be worth around $35 trillion in 2023.
The market is highly fragmented with the presence of numerous players offering solutions across different geographies. Key players in the global digital banking platform market include Fiserv, Finastra, Arttha, Temenos Group AG, Oracle Financial Services Software, SAP SE, and Infosys Limited.
Regional analysis of the global digital banking platform market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America is expected to be at the forefront in terms of value share as well as growth rate due to early adoption of digital banking technologies and presence of a large number of incumbents in the region. The increasing demand for mobile banking services, rising number of fintech companies and investments in AI-based services are some major factors driving the North American market growth.
Asia Pacific is anticipated to witness the most significant growth rate over the forecast period owing to the booming fintech industry, increasing awareness about digital banking services and presence of several large-scale banks in the region. Furthermore, multiple governments across the region are investing heavily to promote the adoption of advanced financial technologies such as blockchain and AI.
The global digital banking platform market is projected to witness a robust CAGR during the forecast period, owing to the increasing demand for digital banking services and rapid advancements in technologies such as AI and blockchain. Furthermore, supportive government regulations are expected to accelerate the growth of this market during the forecast period.
In order to analyze the market size and forecast of digital banking platform, we have conducted extensive primary and secondary research. The primary research includes interviews with industry stakeholders, such as companies providing software solutions for digital banking platforms. The collected data was then validated with expert opinions in order to provide an accurate estimate of the market size.
Who will benefit from the report?
The report provides insights about the market for stakeholders, such as:
• Software solution providers
• Banking industry experts
• Technology providers
• Government bodies and associations
• Research and consulting firms
The report also provides useful insights into the following points:
• Market size estimation and forecast
• Regional analysis of digital banking platform market
• Key players in the global digital banking platform market
• Growth drivers and challenges in the market
• Opportunities for new entrants in the digital banking platform market.
|5||Global Digital Banking Platform Market Analysis and Forecast, by Types|
|6||Regional Digital Banking Platform Market Analysis and Forecast|
|7||Key Players and Strategies: Competitive Landscape|