The global Digital Banking Platform market is projected to grow at a significant CAGR during the forecast period. The growing demand among banks to deliver enhanced customer experience, the increasing adoption of cloud-based platforms to obtain higher scalability, the rising adoption of smartphones and tablets as well as the increasing demand for streamlining business processes are some of the significant factors contributing to the growth of the digital banking platforms market. Based on banking types, the retail banking segment is expected to be the largest contributor to the digital banking platforms market during the forecast period. Based on banking types, the digital banking platforms market is classified into retail banking and corporate banking. Retail banking has emerged as an essential enabler in the market in translating banking models across the globe. Based on banking modes, the mobile banking segment is expected to grow at a higher CAGR during the forecast period. Based on banking modes, the digital banking platforms market is segmented into online banking and mobile banking. Based on deployment types, the on-premises deployment type is expected to contribute a significant share during the forecast period. Geographically, the market is segmented into Asia-Pacific, North America, South America, Middle East & Africa, and Europe. North America is expected to account for the largest market size during the forecast period. Some of the leading players in the market, include Appway, Backbase, CREALOGIX, bank, EdgeVerve, Intellect Design Arena, Finastra, and digital, among others.
The objective of the Study Global Digital Banking Platform Market
- To analyze and forecast the market size of the Global Digital Banking Platform Market, in terms of Value and Volume.
- To classify and forecast Global Digital Banking Platform Market based on banking type, deployment mode, banking mode, and regional distribution.
- To identify drivers and challenges for the Global Digital Banking Platform Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Digital Banking Platform Market.
- To conduct the pricing analysis for the Global Digital Banking Platform Market.
- To identify and analyze the profile of leading players involved in the manufacturing of Global Digital Banking Platform.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service offerings, distribution channels, and presence of all major collaboration manufacturers across the globe.
TechSci Research calculated the market size of the Global Digital Banking Market using a bottom-up approach, where data for various end-user industries and their application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from industry experts and company representatives and externally validated them by analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as the company website, news articles, press releases, company annual reports, investor presentations, and financial reports were also used by TechSci Research.
Key Target Audience for Global Digital Banking Platform Market
- Digital Banking Platform service providers
- Digital Banking Platform solution providers
- Cloud service providers
- Consultancy firms
- Research organizations
- Regulatory agencies
- System integrators
- Government entities
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as collaboration manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.