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Online Banking Market Size is Projected to Reach USD 20.5 Billion by 2026


BANGALORE, India, Aug. 10, 2020 /PRNewswire/ — Increased internet penetration among consumers and technology growth are the major factors expected to increase the online banking market size during the forecast period. Furthermore, the recent outbreak of the COVID-19 pandemic has forced people to shift towards online banking, thereby further propelling market growth.

The global Online Banking market size is projected to reach USD 20.5 Billion by 2026, from USD 9.1 Billion in 2019, at a CAGR of 12.3% during 2020-2026.

The study sheds light on key factors, constraints, opportunities, and a comprehensive impact review from 2020-2026.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-30P2920/global-online-banking

TRENDS INFLUENCING THE ONLINE BANKING MARKET

  • Online bank customer base is on the rise with the growth of internet penetration and smartphone applications around the world. With population growth, logical brick and mortar banks will not be able to provide their ever-increasing customers with skillful service. Online banking advantages such as 24×7 operation, quick click-through registration, and comprehensive online banking details such as e-statements, time and date of all purchases, loans, and credit card payments. The advantage offered by online banking has increased its adoption and, in turn, is expected to increase the online banking market size during the forecast period.
  • Factors such as convenience for the customer and better interest rates offered by online banking is expected to increase the online banking market size during the forecast period.
  • The growth in the e-commerce industry is further expected to fuel the online banking market size.
  • Banks embrace technology to reduce operating costs and remain competitive in the marketplace. It helps banks retain their clients by offering an enhanced customer experience and personalized services at lower costs. The online banking market is expected to grow rapidly due to increased adoption by banks.
  • However, the growing threat of cyber-attacks could hamper the adoption of digital banking. Fending off cyber-attacks is one of the biggest challenges banks around the globe face, considering the sensitive nature of the customer information they possess.

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ONLINE BANKING MARKET SHARE ANALYSIS

  • Based on the type, the retail banking segment held the largest online banking market share during the forecast period.
  • Based on the region, the European region is expected to hold the largest online banking market share. North America closely follows it.
  • Due to the increase in internet penetration, mobile use, and higher population size, Asia-Pacific is expected to dominate the market later in the analysis period. Asia-Pacific is also expected to experience the highest growth rate due to the presence of emerging countries like China and Japan.

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The Key Players Covered In This Study

  • ACI
  • Microsoft
  • Fiserv
  • Tata Consultancy Services
  • Cor Financial Solutions
  • Oracle
  • Temenos
  • Rockall Technologies
  • EdgeVerve Systems
  • Capital Banking
  • CGI

Market segment by Type, the product can be split into

  • Retail Banking
  • Corporate Banking
  • Investment Banking

Market segment by Application, split into

  • Payments
  • Processing Services
  • Customer and Channel Management
  • Risk Management
  • Others

Market segment by Regions/Countries, this report covers

  • North America
  • Europe
  • China
  • Japan
  • Southeast Asia
  • India
  • Central & South America

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SIMILAR REPORTS

  • Digital Banking Market Report

In 2018, the global Digital Banking market size was 5.180 Billion USD, and it is expected to reach 16.200 Billion USD by the end of 2025, with a CAGR of 15.3% during 2019-2025.

This study focuses on the global digital banking market size, future projections, prospects for growth, key markets, and key players. The study aims to present the development of Digital Banking in the United States, Europe, and China. 

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-4N473/global-digital-banking

  • Internet Banking Market Report

Convenience to the customer, lower interest rates, and a technologically advanced interface are the major factors that are expected to drive the growth of Internet Banking Market size during the forecast period. However, the high-security risk of data could hamper market growth.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-3B291/internet-banking

  • Retail Banking Market Report

The Retail Banking Market report studies the market size by players, regions, product types and end industries, history data 2014-2018, and forecast data 2019-2025.

This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors, and Porter’s Five Forces Analysis.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-3T292/retail-banking

  • Investment Banking Market Report

View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-3A293/investment-banking

The Global Payments market size is expected to reach 2 Trillion USD by the end of 2025, with a CAGR of 7.83% during 2019-2025.

The Payments Market report focuses on market size, future forecast, growth opportunity, key market, and key players. The study objectives are to present Payment development in the United States, Europe, and China.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-1F198/global-payments

  • Risk Management Market Report

The global risk management market size was valued at USD 6,258.40 million in 2018, and the market forecast is projected to reach USD 18,504.22 million by 2026, growing at a CAGR of 14.6% from 2019 to 2026.

Developments in the IoT landscape and a rise in the adoption of risk management financial institutions fuel market growth. The increase in demand from developing economies and the integration of artificial intelligence into risk management is expected to provide important opportunities for the growth of the risk management market during the forecast period.

View Full Report: https://reports.valuates.com/market-reports/ALLI-Manu-0J11/risk-management

  • Online Payments Services Market Report

The Online Payments Services Market report studies the Online Payments Services market size by players, regions, product types and end industries, history data 2014-2018, and forecast data 2019-2025.

This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors, and Porter’s Five Forces Analysis.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-3T294/online-payments-services

ABOUT US:

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that’s why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains detail research methodology employed to generate the report, Please also reach to our sales team to get the complete list of our data sources

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