Press release
Online Banking Market Size is projected to reach $31.81 billion by 2027, growing at a CAGR of 13.6% from 2020 to 2027
According to a recent report published by Report Ocean, titled, “Online Banking Market by Service Type and Banking Type: Opportunity Analysis and Industry Forecast, 2020-2027,” The global online banking market size was valued at $11.43 billion in 2019, and is projected to reach $31.81 billion by 2027, growing at a CAGR of 13.6% from 2020 to 2027.GET SAMPLE PAGES @ https://www.reportocean.com/industry-verticals/sample-request?report_id=AMR1344
Online banking is an electronic payment system, which enables digitization of all traditional banking activities & programs such as money deposits, withdrawals, transfers, savings account management, application for financial products, loan management, bill payments, and other account services. Increase in preference of digitization & automation and rise in internet penetration & smartphone usage drive the growth of the online banking market. In addition, security issues & privacy concerns among consumers and technicality issues arising while availing transaction & processing services are a few factors that hamper the market growth.
On the basis of banking type, the retail banking segment dominated the online banking market in 2019, and is projected to maintain its dominance during the forecast period. Banks are initiating partnerships, executing business models, providing personalized offerings, and enhancing their digital channels to the retail customers. Therefore, retail banking is continuing to rise by providing better customer service & seamless user experience, which is becoming a major trend in the market.
By region, the global online banking market was dominated by North America in 2019, and is expected to maintain this trend during the forecast period. In addition, advancements in information technology and increased development of interactive & consumer-friendly user interface of websites and applications drive the growth of the online banking market in the region.
With an unprecedented spread of the COVID-19 health crisis, the online banking industry has experienced growth in revenue, owing to massive demand for online banking services to curb the spread of the coronavirus. Moreover, most of the first-time users are switching from traditional services to online services, which has become a major trend in the market. Furthermore, the market is expected to grow at a significant growth rate during the forecast period.
Key findings of the study
By banking type, the retail banking segment led the online banking market size in terms of revenue in 2019.
By service type, the payments segment accounted for the highest online banking market share in 2019.
By region, North America generated the highest revenue in 2019.
The key players profiled in the online banking market analysis are ACI Worldwide, Inc., Capital Banking Solution, CGI Inc., COR Financial Solutions Limited, EdgeVerve Systems Limited, Fiserv, Inc., Microsoft, Oracle, Tata Consultancy Services Limited, and Temenos Headquarters SA. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
READ FULL REPORT @ https://www.reportocean.com/industry-verticals/sample-request?report_id=AMR1344
Get in Touch with Us:
Report Ocean
Email: sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, IIIinois 60611 – UNITED STATES
Tel: +1 888 212 3539 (US – TOLL FREE)
Website: https://www.reportocean.com/
We are the best market research reports provider in the industry. Report Ocean believe in providing the quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is “one-stop solution” for individuals, organizations, and industries that are looking for innovative market research reports.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Online Banking Market Size is projected to reach $31.81 billion by 2027, growing at a CAGR of 13.6% from 2020 to 2027 here
News-ID: 2245374 • Views: …
More Releases from Report Ocean
Japan Internet Advertising Market CAGR of 24.9%, Behind the Scenes Techniques fo …
The Japan Internet Advertising Market has demonstrated remarkable growth, reaching a valuation of USD 29.49 Billion in 2021. With the digital landscape continually evolving, it is forecasted to soar to an impressive USD 112.04 Billion by 2027. This surge represents an anticipated compound annual growth rate (CAGR) of 24.9% over the projected period, highlighting the dynamic and rapidly expanding nature of the digital advertising sector in Japan.
Internet Advertising are set…
Location Analytics Market Through the Looking Glass Techniques for a Profound Un …
This comprehensive market research report offers an in-depth analysis of the global location analytics market from 2019 to 2026. Valued at USD 10,813.6 million in 2019, the market is forecasted to surge to USD 29,878.5 million by 2026, demonstrating a robust Compound Annual Growth Rate (CAGR) of 15.6% throughout the projection period. This report delves into the key drivers, restraints, opportunities, and challenges that are shaping the market, providing stakeholders…
Affiliate Marketing Platform Market Eyes Wide Open Maximizing the Value of Obser …
The Global Affiliate Marketing Platform Market, valued at USD 19,217.4 million in 2021, is projected to witness significant growth over the next decade, reaching an estimated value of USD 36,902.1 million by 2030.
This report provides an in-depth analysis of the market dynamics, growth drivers, challenges, and opportunities that will influence the affiliate marketing landscape over the forecast period of 2021-2030. With a Compound Annual Growth Rate (CAGR) of 7.7%,…
Global Clear Brine Fluids Market Growth Forecast and Trends (2022-2030)
The global clear brine fluids market was valued at US$ 0.95 billion in 2021. It is anticipated to experience growth, reaching a valuation of US$ 1.39 billion by 2030. This growth trajectory translates to a compound annual growth rate (CAGR) of 3.1% during the forecast period from 2022 to 2030. Clear brine fluids, crucial in the oil and gas industry for drilling and completion processes, are poised for increased demand,…
More Releases for Banking
Banking ERP Software Market: A Catalyst for Banking Excellence
The Banking ERP Software Market is at the forefront of a financial revolution, poised to redefine the way banking institutions operate in the digital age. As the industry grapples with evolving customer expectations, regulatory demands, and technological advancements, ERP software solutions have emerged as indispensable tools for financial institutions. These systems streamline operations, enhance data management, and empower banks to deliver more efficient and customer-centric services. In an era where…
Digital Banking Market Report, Worth, Size, Share, Trends, Segmented by Applicat …
Digital Banking Market Size:
In 2018, the global Digital Banking market size was 5.180 Billion USD and it is expected to reach 16.200 Billion US$ by the end of 2025, with a CAGR of 15.3% during 2019-2025.
Get Free Sample: https://reports.valuates.com/request/sample/QYRE-Auto-4N473/Global_Digital_Banking
Digital Banking Market Share:
• In 2017, North America's economy accounted for about 48.73% of the global Digital Banking market share, while Europe and Asia-Pacific accounted for about 30.22%, 16.54%, respectively.
• European countries such…
Online Banking Market by Banking Type - Retail Banking, Corporate Banking, and I …
The Online Banking Market size is expected to reach $29,976 million in 2023 from $7,305 million in 2016, growing at a CAGR of 22.6% from 2017 to 2023. Digital banking includes all kinds of online/internet transactions done for various purposes. It is the incorporation of new technologies, to deliver enhanced customer services.
Customer convenience, higher interest rates, and technologically advanced interface majorly drive the market. High security risk of customer’s data…
Explore Mobile Banking Market with Top Players like Barclays, BOC, SBI, HSBC Mob …
Mobile Banking allow various users to avail banking and financial services through any telecommunication devices. Different kind of services include both information and monetary transaction. Increase in the use of number of smart phones and mobile phones mobile Banking Market has gained its popularity. It is preferable and comfortable by the users than any other means of transaction.
Global Mobile Banking Market anticipated to grow at a CAGR of +35% over…
Mobile Banking Market Is Booming Worldwide | HSBC Mobile Banking, ICICI Bank Mob …
HTF MI recently introduced Global Mobile Banking Market study with in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status to 2023. The market Study is segmented by key regions which is accelerating the marketization. At present, the market is developing its presence and some of the key players from the complete study are HSBC Mobile Banking, ICICI Bank Mobile Banking, U.S. Bank, Santander Mobile…
Online Banking Market Report 2018: Segmentation by Banking Type (Retail Banking, …
Global Online Banking market research report provides company profile for 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.) and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for…
