Reports

Online Banking Market

Global Online Banking Market: By Service Type: Payments, Processing Services, Customer and Channel Management, Wealth Management, Others; By Banking Type: Retail Banking, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Online Banking Market Outlook

The global online banking market attained a value of USD 17.84 billion in 2022. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 12.9% to reach a value of USD 36.96 billion by 2028.          

 

Global Online Banking Market

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Increasing Preference for Online Payments to Augment the Global Online Banking Industry Growth

The online banking business was dominated by the payments segment based on service type. Because of a large number of consumers migrating to online payment systems, which offer more convenience and time-saving features than traditional payment methods, the segment witnessed a considerable growth. The payments segment is expected to continue its dominance over the forecast period as a result of the superior customer service and a consistent user experience, which is becoming a prominent trend in the industry. In addition, increasing collaborations, implementing business strategies, providing customised solutions, and improving digital channels for online payments are anticipated to help the market grow.

 

North America to Dominate the Global Online Banking Industry

Region-wise, North America is expected to dominate the global market for online banking in the forecast period. This can be attributed to the presence of robust banking infrastructure and the increased acceptance of advanced technology in the region. Meanwhile, in the anticipated term, the Asia Pacific is expected to witness a healthy growth due to the increasing demand to access online banking services in nations like China, India, Japan, and Australia, as a result of the growing internet usage.

 

Online Banking: Definition and Segmentation

An electronic payment system that allows users to make financial transactions over the internet is known as online banking. All typical banking operations and programmes, such as money deposits, withdrawals, transfers, savings account administration, financial product application, loan management, bill payments, and other account services, can also be digitised.

 

Global Online Banking Market by Segment

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By service type, the industry is segmented into:

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

The market can be broadly categorised on the basis of banking type into:

  • Retail Banking
  • Corporate Banking
  • Investment Banking

The EMR report looks into the regional markets of the product like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Online Banking Market by Region

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Growing Digitalisation and Automation to Bolster the Growth of the Global Online Banking Industry

The growing internet penetration and smartphone usage, supported by the rapid digitisation globally, is driving the expansion of the online banking industry. Cloud computing, application programming interfaces (APIs), robotic process automation (RPA), chatbots, machine learning, and blockchain are among key technologies that are accelerating the growth of the online banking business. Furthermore, the expansion of the online banking industry is fuelled by real-time payment solutions, convenience and simpler access to online banking, and rising smartphone usage. Furthermore, during the forecast period, the market is expected to increase at a significant rate. This is due to the banking industry's tremendous development and uniformity in terms of products and services delivered via mobile application, as well as greater consumer brand loyalty, which, in turn, has fuelled the expansion of the online banking sector. In addition, the market's expansion is increasingly being driven by high-yield interest rates. Because online banking has enabled investors to keep a real-time track of their investment portfolio while investing or trading online with continuous access to their funds, the market is likely to increase. Thus, these online banking features are likely to accelerate the market expansion in the near future.

 

Key Industry Players in the Global Online Banking Market

The report presents a detailed analysis of the following key players in the global online banking market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • ACI Worldwide
  • Capital Banking Solution
  • Cor Financial Solutions Limited
  • EdgeVerve Systems Limited
  • Fiserv, Inc.
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Service Type, Banking Type, Region
Breakup by Service Type Payments, Processing Services, Customer and Channel Management, Wealth Management, Others
Breakup by Banking Type Retail Banking, Corporate Banking, Investment Banking
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered ACI Worldwide, Capital Banking Solution, Cor Financial Solutions Limited, EdgeVerve Systems Limited, Fiserv, Inc., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Online Banking Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Online Banking Historical Market (2018-2022) 
    8.3    Global Online Banking Market Forecast (2023-2028)
    8.4    Global Online Banking Market by Service Type
        8.4.1    Payments
            8.4.1.1    Historical Trend (2018-2022)
            8.4.1.2    Forecast Trend (2023-2028)
        8.4.2    Processing Services
            8.4.2.1    Historical Trend (2018-2022)
            8.4.2.2    Forecast Trend (2023-2028)
        8.4.3    Customer and Channel Management
            8.4.3.1    Historical Trend (2018-2022)
            8.4.3.2    Forecast Trend (2023-2028)
        8.4.4    Wealth Management
            8.4.4.1    Historical Trend (2018-2022)
            8.4.4.2    Forecast Trend (2023-2028)
        8.4.5    Others
    8.5    Global Online Banking Market by Banking Type
        8.5.1    Retail Banking
            8.5.1.1    Historical Trend (2018-2022)
            8.5.1.2    Forecast Trend (2023-2028)
        8.5.2    Corporate Banking
            8.5.2.1    Historical Trend (2018-2022)
            8.5.2.2    Forecast Trend (2023-2028)
        8.5.3    Investment Banking
            8.5.3.1    Historical Trend (2018-2022)
            8.5.3.2    Forecast Trend (2023-2028)
    8.6    Global Online Banking Market by Region       
        8.6.1    North America
            8.6.1.1    Historical Trend (2018-2022) 
            8.6.1.2    Forecast Trend (2023-2028)
        8.6.2    Europe
            8.6.2.1    Historical Trend (2018-2022) 
            8.6.2.2    Forecast Trend (2023-2028)
        8.6.3    Asia Pacific
            8.6.3.1    Historical Trend (2018-2022) 
            8.6.3.2    Forecast Trend (2023-2028)
        8.6.4    Latin America
            8.6.4.1    Historical Trend (2018-2022) 
            8.6.4.2    Forecast Trend (2023-2028)
        8.6.5    Middle East and Africa
            8.6.5.1    Historical Trend (2018-2022) 
            8.6.5.2    Forecast Trend (2023-2028)
9    North America Online Banking Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2022) 
        9.1.2    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Historical Trend (2018-2022) 
        9.2.2    Forecast Trend (2023-2028)
10    Europe Online Banking Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2022) 
        10.1.2    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Historical Trend (2018-2022) 
        10.2.2    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Historical Trend (2018-2022) 
        10.3.2    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Historical Trend (2018-2022) 
        10.4.2    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Online Banking  Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2022) 
        11.1.2    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Historical Trend (2018-2022) 
        11.2.2    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Historical Trend (2018-2022) 
        11.3.2    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2022) 
        11.4.2    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Historical Trend (2018-2022) 
        11.5.2    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Online Banking Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2022) 
        12.1.2    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2022) 
        12.2.2    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2022) 
        12.3.2    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Online Banking Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2022) 
        13.1.2    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2022) 
        13.2.2    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2022) 
        13.3.2    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2022) 
        13.4.2    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    ACI Worldwide
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Capital Banking Solution
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Cor Financial Solutions Limited
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    EdgeVerve Systems Limited
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Fiserv, Inc.
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Others
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Online Banking Market: Key Industry Highlights, 2018 and 2028
2.    Global Online Banking Historical Market: Breakup by Service Type (USD Billion), 2018-2022
3.    Global Online Banking Market Forecast: Breakup by Service Type (USD Billion), 2023-2028
4.    Global Online Banking Historical Market: Breakup by Banking Type (USD Billion), 2018-2022
5.    Global Online Banking Market Forecast: Breakup by Banking Type (USD Billion), 2023-2028
6.    Global Online Banking Historical Market: Breakup by Region (USD Billion), 2018-2022
7.    Global Online Banking Market Forecast: Breakup by Region (USD Billion), 2023-2028
8.    North America Online Banking Historical Market: Breakup by Country (USD Billion), 2018-2022
9.    North America Online Banking Market Forecast: Breakup by Country (USD Billion), 2023-2028
10.    Europe Online Banking Historical Market: Breakup by Country (USD Billion), 2018-2022
11.    Europe Online Banking Market Forecast: Breakup by Country (USD Billion), 2023-2028
12.    Asia Pacific Online Banking Historical Market: Breakup by Country (USD Billion), 2018-2022
13.    Asia Pacific Online Banking Market Forecast: Breakup by Country (USD Billion), 2023-2028
14.    Latin America Online Banking Historical Market: Breakup by Country (USD Billion), 2018-2022
15.    Latin America Online Banking Market Forecast: Breakup by Country (USD Billion), 2023-2028
16.    Middle East and Africa Online Banking Historical Market: Breakup by Country (USD Billion), 2018-2022
17.    Middle East and Africa Online Banking Market Forecast: Breakup by Country (USD Billion), 2023-2028
18.    Global Online Banking Market Structure

Key Questions Answered in the Report

In 2022, the market attained a value of nearly USD 17.84 billion.

The market is projected to grow at a CAGR of 12.9% between 2023 and 2028.

The major market drivers are the enhanced convenience and time-saving features offered by online banking, improving digital channels for online payments, and robust banking infrastructure in developed countries.

The key trends aiding the market demand include technological advancements and innovations, the increasing availability of real-time payment solutions, and high-yield interest rates offered by online banks.

The major regions in the online banking market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The various segments based on the online banking service type are payments, processing services, customer and channel management, and wealth management, among others.

The significant banking types considered in the market report are retail banking, corporate banking, and investment banking.

The key players in the market are ACI Worldwide, Capital Banking Solution, Cor Financial Solutions Limited, EdgeVerve Systems Limited, and Fiserv, Inc., among others.

Analyst Review

The global online banking market attained a value of USD 17.84 billion in 2022, driven by the increase in preference of digitisation and automation. Aided by innovative banking services and increase in corporate investors, is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 12.9%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on service type, the industry can be segmented into payments, processing services, customer and channel management, and wealth management, among others. On the basis of banking type, the market is divided into retail banking, corporate banking, and investment banking. The major regional markets for online banking are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include ACI Worldwide, Capital Banking Solution, Cor Financial Solutions Limited, EdgeVerve Systems Limited, and Fiserv, Inc., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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