Reports
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 14 billion in 2020. 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 29 billion by 2026.
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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.
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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.
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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 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Processing Services
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Customer and Channel Management
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Wealth Management
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 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 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Corporate Banking
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Investment Banking
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.6 Global Online Banking Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2022)
8.6.5.3 Forecast Trend (2023-2028)
9 North America Online Banking Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Online Banking Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Online Banking Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Online Banking Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Online Banking Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 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 2020, the global online banking market attained a value of nearly USD 14 billion.
The market is projected to grow at a CAGR of 12.9% between 2023 and 2028.
The key market drivers guiding the growth of the industry include the real-time payment solutions, convenience and easier options to access, an unprecedented spread of the COVID-19, massive expansion and standardisation in terms of services offered via mobile application by the banks, and increasing high-yield interest rates.
The key industry trends for global online banking industry include growing internet penetration and smartphone usage, and the rapid digitisation globally.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific with North America accounting for the significant share in the market.
The classifications of industry, on the basis of service type, are payments, processing services, customer and channel management, and wealth management, among others.
The significant segments of the industry on the basis of banking type are retail banking, corporate banking, and investment banking.
The major players in the industry 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 14 billion in 2020, 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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