Online Banking Market Size, Share, Price, Demand, Growth and Forecast 2022-2027 | IMARC Group

 According to the latest report by IMARC Group, titled "Online Banking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", the global online banking market reached a value of US$ 3.84 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 5.18 Billion by 2027, exhibiting a CAGR of 4.60% during 2022-2027.

Online banking, or internet banking, refers to a payment facility offered by banking and financial institutions, enabling customers to conduct financial transactions over the internet. It allows users to access their personal bank account information and use banking services, such as online bill payments, account opening, deposits, transfers, e-statements, checking account balance and recent transactions, applying for credit cards, and ordering checks. It offers enhanced security, fast service, ease of use, instant access, and cost-effectiveness. Since online banking eliminates the need for customers to visit a bank branch to complete basic banking transactions, it has gained immense traction across the globe. 

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Online Banking Market Trends and Drivers:

The global online banking market is primarily driven by the advent of the cashless age, and the increasing penetration of the internet and smartphones. In addition, with the widespread adoption of cloud-based solutions, banks and financial institutions are opting for online banking platforms. 

Along with this, the escalating demand for improved customer experience and the growing need for transparency and flexibility have accelerated the product adoption rate. Furthermore, the implementation of lockdown and social distancing norms amid the recent coronavirus disease (COVID-19) outbreak has augmented the demand for online banking. 

Other factors, including the emergence of the Banking as a Service (BaaS) model, expanding e-commerce sector, favorable government initiatives, rapid digitization, and technological advancements, are also anticipated to propel the market growth.

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Global Online Banking Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Aci Worldwide Inc., Backbase, Capital Banking Solutions, CGI Inc., ebankIT, EdgeVerve Systems Limited (Infosys Limited), Fiserv Inc., Halcom d.d. (Constellation Software Inc.), Oracle Corporation, Tata Consultancy Services Limited, Technisys and Temenos AG. 

The report has segmented the market on the basis of region, banking type, software type and service type.

Breakup by Banking Type:

• Retail Banking

• Corporate Banking

• Investment Banking

 Breakup by Software Type:

• Customized Software

• Standard Software

 Breakup by Service Type:

• Payments

• Processing Services

• Customer and Channel Management

• Wealth Management

• Others

Breakup by Region:

• North America: (United States, Canada)

• Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)

• Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)

• Latin America: (Brazil, Mexico, Others)

• Middle East and Africa

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If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Key highlights of the report:

• Market Performance (2016-2021)

• Market Outlook (2022- 2027)

• Porter’s Five Forces Analysis

• Market Drivers and Success Factors

• SWOT Analysis

• Value Chain

• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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