Recent Research into the Online Banking (Market) Industry Explores New Size, Growth & Opportunities

According to a new report published by Allied Market Research, titled, Online Banking Market by Banking Type, and Solution Type,: Global Opportunity Analysis and Industry Forecast, 2017-2023, the online banking market size was valued at $7,305 million in 2016, and is estimated to reach $29,976 million by 2023, registering a CAGR of 22.6% from 2017 to 2023. In 2017, online retail banking dominated the overall online banking market.

Europe is the market leader and accounts for nearly 31% share of the global market in 2017, closely followed by North America. In addition, Asia-Pacific is estimated to grow at the highest CAGR of 26.1% during the forecast period due to rise in internet users, and increase in consumer base due to higher population size.

The growth of online banking is dependent on how and when the customers want these services which work on the principles of mobility, big data and gamification

The online banking market share is on an increase in the developing economies of Asia-Pacific due to higher penetration of internet, and increased smartphone usage. Threat to security and service issues associated with online banking hinder the market growth.

The key driver of the global online banking market is associated with higher interest rates given in online banking compared with traditional banks and ease of usage. Also growth in use of smart phones, mobile banking, and e-commerce further fuels the market growth. Furthermore, majority of global players are increasingly competing for market share by improvising their services and coming up with better interest rates.

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Key Findings of the Online Banking Market:
• Europe leads the global online banking market, closely followed by the North America.
• Asia-Pacific is growing with the highest CAGR of 26.1%, mainly because its population size and growing economy.
• The retail banking type segment accounted for the highest market share with nearly 52% in 2016; however, the corporate banking type is anticipated to witness highest demand during the forecast period.
• The transactional service type is expected to show better growth rate as compared to specialty stores and footwear stores.

Asia-Pacific is anticipated to dominate the market later in the analysis period, due to the increase in internet penetration, smartphone usage, and higher population size. Also, Asia-Pacific is expected to witness the highest growth rate, owing to the presence of emerging countries, such as China and Japan.

The key players profiled in this report include ACI Worldwide (U.S.), Microsoft Corporation (U.S.), Fiserv, Inc. (U.S.), Tata Consultancy Services (India), Cor Financial Solutions Ltd. (UK), Oracle Corporation (U.S.), Temenos Group AG, Rockall Technologies (Ireland), EdgeVerve Systems Limited (India), and Capital Banking Solutions (U.S.).

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List of Tables:

TABLE 1. ONLINE BANKING MARKET BY BANKING TYPE, 2016-2023 ($MILLION)
TABLE 2. RETAIL BANKING TYPE ONLINE BANKING MARKET REVENUE BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 3. CORPORATE BANKING TYPE ONLINE BANKING MARKET REVENUE BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 4. INVESTMENT BANKING TYPE ONLINE BANKING MARKET REVENUE BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 5. GLOBAL ONLINE BANKING MARKET BY SOLUTION TYPE, 2016-2023 ($MILLION)
TABLE 6. ONLINE BANKING MARKET FOR PAYMENTS SOLUTION TYPE BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 7. ONLINE BANKING MARKET FOR PROCESSING SERVICES SOLUTION TYPE BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 8. ONLINE BANKING MARKET FOR CUSTOMER AND CHANNEL MANAGEMENT SOLUTION TYPE BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 9. ONLINE BANKING MARKET FOR RISK MANAGEMENT SOLUTION TYPE BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 10. ONLINE BANKING MARKET FOR OTHERS SOLUTION TYPE BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 11. ONLINE BANKING MARKET BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 12. NORTH AMERICA: ONLINE BANKING MARKET BY BANKING TYPE, 2016-2023 ($MILLION)
TABLE 13. NORTH AMERICA: ONLINE BANKING MARKET BY SOLUTION TYPE, 2016-2023 ($MILLION)
TABLE 14. NORTH AMERICA: ONLINE BANKING MARKET BY COUNTRY, 2016-2023 ($MILLION)
TABLE 15. EUROPE: ONLINE BANKING MARKET BY BANKING TYPE, 2016-2023 ($MILLION)
TABLE 16. EUROPE: ONLINE BANKING MARKET BY SOLUTION TYPE, 2016-2023 ($MILLION)
TABLE 17. EUROPE: ONLINE BANKING MARKET BY COUNTRY, 2016-2023($MILLION)
TABLE 18. ASIA-PACIFIC: ONLINE BANKING MARKET BY BANKING TYPE, 2016-2023 ($MILLION)
TABLE 19. ASIA-PACIFIC: ONLINE BANKING MARKET BY SSOLUTION TYPE 2016-2023 ($MILLION)
TABLE 20. ASIA-PACIFIC: ONLINE BANKING MARKET BY COUNTRY, 2016-2023 ($MILLION)
TABLE 21. LAMEA: ONLINE BANKING MARKET BY BANKING TYPE 2016-2023 ($MILLION)
TABLE 22. LAMEA: ONLINE BANKING MARKET BY SOLUTION TYPE 2016-2023 ($MILLION)
TABLE 23. LAMEA: ONLINE BANKING MARKET BY REGION, 2016-2023 ($MILLION)
TABLE 24. ACI WORLDWIDE: COMPANY SNAPSHOT
TABLE 25. ACI WORLDWIDE: OPERATING SEGMENTS
TABLE 26. MICROSOFT CORPORATION: COMPANY SNAPSHOT
TABLE 27. MICROSOFT CORPORATION: OPERATING SEGMENTS
TABLE 28. FISERV, INC.: COMPANY SNAPSHOT
TABLE 29. FISERV, INC.: OPERATING SEGMENTS
TABLE 30. TATA CONSULTANCY SERVICES: COMPANY SNAPSHOT
TABLE 31. TATA CONSULTANCY SERVICES: OPERATING SEGMENTS
TABLE 32. COR FINANCIAL SOLUTIONS LTD.: COMPANY SNAPSHOT
TABLE 33. COR FINANCIAL SOLUTIONS LTD.: OPERATING SEGMENTS
TABLE 34. ORACLE CORPORATION: COMPANY SNAPSHOT
TABLE 35. ORACLE CORPORATION: OPERATING SEGMENTS
TABLE 36. TEMENOS GROUP AG: COMPANY SNAPSHOT
TABLE 37. TEMENOS GROUP AG: OPERATING SEGMENTS
TABLE 38. ROCKALL TECHNOLOGIES.: COMPANY SNAPSHOT
TABLE 39. ROCKALL TECHNOLOGIES.: OPERATING SEGMENTS
TABLE 40. EDGEVERVE SYSTEMS LIMITED. : COMPANY SNAPSHOT
TABLE 41. EDGEVERVE SYSTEMS LIMITED: OPERATING SEGMENTS
TABLE 42. CAPITAL BANKING SOLUTIONS: COMPANY SNAPSHOT
TABLE 43. CAPITAL BANKING SOLUTIONS. : OPERATING SEGMENTS

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