Online Banking Market : Top Players are Microsoft Corporation , Fiserv, Inc. , ACI Worldwide , and Infosys
PORTLAND , OR, USA, UNITED STATES, March 24, 2023 /EINPresswire.com/ — According to the report published by Allied Market Research, the global online banking market was pegged at $11.43 billion in 2019 and is expected to hit $31.81 billion by 2027, registering a CAGR of 13.6% from 2020 to 2027. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
With changing consumer demands, lifestyle, and expectations toward banking, the banks are largely switching toward internet or digitalized banking by implementing technologies. This factor has driven the global online banking market. At the same time, security & technical issues, privacy concerns, and transaction difficulties impede the growth to some extent. However, countries, such as China, India, Japan, and Australia, have high demand for massive internet usage to avail banking services online. This, in turn, has created a number of opportunities in the industry.
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The global online banking market is analyzed across service type, banking type, and region. Based on service type, the payments segment contributed to nearly one-third of the total market revenue in 2019 and is expected to rule the roost by the end of 2027. The wealth management segment, on the other hand, would grow at the fastest CAGR of 15.7% throughout the forecast period.
Based on banking type, the retail banking segment accounted for nearly half of the total market share in 2019 and is projected to retain its dominance till 2027. Simultaneously, the investment banking segment would showcase the fastest CAGR of 15.7% from 2020 to 2027.
Based on region, North America garnered the major share in 2019, holding nearly one-third of the global market. At the same time, Asia-Pacific would register the fastest CAGR of 15.2% till 2027. The other two provinces studied in the report include Europe and LAMEA.
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The key market players analyzed in the global online banking market report include Inc., Capital Banking Solution, CGI Inc., Temenos Headquarters SA., Tata Consultancy Services Limited, ACI Worldwide, COR Financial Solutions Limited, EdgeVerve Systems Limited, Microsoft, Oracle, and Fiserv, Inc. These market players have taken recourse to several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
Key benefits for stakeholders
The study provides in-depth analysis of the online banking market share along with the current & future trends to explain the imminent investment pockets.
The key drivers, restrains, & opportunities and their impact analysis on the online banking market size are provided in the report.
Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
An extensive analysis of the key segments of the industry helps to understand the online banking market trends.
The quantitative analysis of the global online banking market from 2020 to 2027 is provided to determine the market potential.
Online Banking Market Report Highlights
BY SERVICE TYPE
Customer & Channel Management
BY BANKING TYPE
North America (U.S, Canada)
Europe (UK, France, Germany, Italy, Spain, Netherlands, Rest of Europe)
Asia-Pacific (China, India, Japan, Singapore, Australia, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)
Key Market Players ACI WORLDWIDE, INC, CAPITAL BANKING SOLUTION, CGI INC, COR FINANCIAL SOLUTIONS LIMITED, EDGEVERVE SYSTEMS LIMITED, FISERV, INC, MICROSOFT, ORACLE, TATA CONSULTANCY SERVICES LIMITED, TEMENOS HEADQUARTERS SA
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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