Business Industry Reports Digital banking platforms Market

Digital banking platforms Market will
touch US$ 6.7 Billion in 2025
Businessindustryreports have new report on “Global digital banking
platforms Market 2019-2025”. The report provides the newest industry data
and industry future trends. The industry report lists the leading competitors
and provides the insights strategic industry Analysis of the key factors
influencing the market.
Global digital banking platforms market is valued at USD 2.9 billion in 2017 and is anticipated to
grow with a healthy growth rate of more than 11% over the forecast period 2018-2025. Global
digital banking platforms market to reach USD 6.7 billion by 2025.
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Rising adoption of smartphones and tablets and increasing adoption of cloud-based platforms for
higher scalability is promoting the growth of the market. Growing smartphones ownership across
the globe is also driving the market growth. For instance, according to pew research center report in
2018, around 63% of total individuals in United States owns a smartphone and tablets. Moreover
69% of total individuals of Australia owns a tablets and smartphone. Thus, rising smartphone and
tablets ownership is expected to fuel the market growth.
The report on global Digital Banking Platforms market includes Banking Type, Banking Mode and
Deployment Type segments. Banking Type segment is further divided into Retail Banking and
Corporate Banking, Banking Mode includes Online Banking and Online Banking and Deployment
Type is further classified into On-Premises and Cloud. Retail banking segment is expected to be the
largest contributor to the digital banking platforms market during the forecast period owing to the
need to meet retail customers’ elevated expectations of personalization and align these
expectations in line with the growing multiplication of channels.
According to region, the APAC region is projected to grow at the highest CAGR during the forecast
period. This growth can be attributed to the increased adoption of digital technologies, especially in
emerging economies, such as Singapore, Australia, India, China, and Japan. This has made APAC a
lucrative market in the IT industry. Strong banking capabilities, including digital offerings, strong
financial positions, and digital structures are expected to drive the growth of the digital banking