Digital Banking Platform Market Size to Surpass US$ 107 Billion at a CAGR of 20.2% by 2030

The global digital banking platform market size is anticipated to reach USD 107 billion by 2030, registering a CAGR of 20.2% from 2022 to 2030, according to a new report by Global Market Vision. The rise in internet users and the customers' shift from traditional to online banking are key drivers for market growth. Furthermore, an expansion in the use of cloud-based platforms is expected to boost the digital banking platform market by providing greater scalability. Additionally, the banking industry is anticipated to benefit from increased use of artificial intelligence and machine learning in digital banking platforms, as well as from an increase in creative banking services and corporate investors.

However, problems with security and compliance in digital lending platforms are partially impeding the full-scale growth of the global market. On the other hand, the COVID-19 pandemic accelerated the growth of e-commerce, in turn increasing the scope of digital banking. For instance, as per Ecommerce Europe, the percentage of e-shoppers in Europe increased from 60% in 2017 to 71% in 2020. Whereas, the share of e-commerce GDP in the total European GDP increased from 3.11% in 2017 to 4.29% in 2020. Hence, the demand for digital banking platforms is likely to expand owing to the growth of online shopping and digital transaction volumes.

Asia Pacific held the largest market share in 2021 and is anticipated to witness the fastest growth of CAGR of 21.1% during the forecast period. This is attributed to the larger population and increased digitalization in the region. New firms such as Tonik Digital Bank, Inc., Anywhere 2 go Co., Ltd., and Cashfree Payments India Private Limited are fundamentally altering the banking industry by redefining the sector for both individuals and businesses. For instance, in June 2022, Cashfree Payments India Private Limited introduced its tokenization solution 'Token Vault' which is capable of exchanging and making use of information in card tokenization.

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The objective of the report is to present a comprehensive analysis of the Digital Banking Platform Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. POSTER, SWOT, and PESTEL analyses with the potential impact of macroeconomic factors on the market have been presented in the report.

Major Market Players Profiled in the Report include:
• Appway AG
• Alkami Technology Inc.
• Finastra
• Fiserv, Inc.
• Crealogix AG
• Temenos
• Urban FT Group, Inc.
• Q2 Software, Inc.
• Sopra Banking Software
• Tata Consultancy Service

Global Digital Banking Platform Market Segmentation:
The global market is segmented on the basis of type, application and region. Growth between market segments can help the user/investor analyze niche market growth points, go-to market strategies, and differentiate between core application areas and target markets.

Digital Banking Platform Deployment Outlook
• On-Premise
• Cloud

Digital Banking Platform Mode Outlook
• Online Banking
• Mobile Banking

Digital Banking Platform Component Outlook
• Platform
• Service

Digital Banking Platform Service Outlook
• Professional Service
• Managed Service

Digital Banking Platform Type Outlook
• Retail Banking
• Corporate Banking
• Investment Banking

The report provides precise information about each Digital Banking Platform market's key players and upcoming competitors. Their global standing, economic activity, plans, product launches, R&D activities, as well as SWOT analysis, revenue share, and contact information are shared in this analysis report. The business strategies of important players and recent market entrants, such as collaborations, mergers and acquisitions, joint ventures, and partnerships, are thoroughly examined.

The report reveals a growing opportunity for manufacturers who are ready to spend on developing new and innovative goods. Businesses can position themselves for success in this dynamic and ever-changing market by keeping up with the most recent trends and innovations in the sector. For better understanding, the insights in the report are presented through a graphical representation of the figures in the form of bar graphs, statistics, and pie charts.

Important Features that are under Offering Digital Banking Platform Market Highlights of the Reports:
⋆ Detailed Overview of this Market
⋆ Changes in industry market dynamics
⋆ Detailed market segmentation by type, application, etc.
⋆ The historical, current, and projected market size in terms of quantity and value
⋆ Recent industry trends and developments
⋆ Competition situation of this Market
⋆ Key companies and product strategies
⋆ Potential niche segment/region showing promising growth.
The Primary Objectives in This Report Are:
• To determine the size of the total market opportunity of global and key countries
• To assess the growth potential for Digital Banking Platform
• To forecast future growth in each product and end-use market
• To assess competitive factors affecting the marketplace
• This report profiles key players in the global Digital Banking Platform market based on the following parameters - company overview, production, value, price, gross margin, product portfolio, geographical presence, and key developments.
• This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, COVID-19 and Russia-Ukraine War Influence.

Scope of the Digital Banking Platform Market Report:
The research examines the key players in the global Digital Banking Platform market in detail, focusing on their market share, gross margin, net profit, sales, product portfolio, new applications, recent developments, and other factors. This study estimates the market size in terms of both values (millions of dollars) and volume (millions of units / K Units). Both top-down and bottom-up techniques were used to estimate and validate the market size of the Digital Banking Platform market, as well as the size of various other dependent submarkets in the overall market. To identify important market participants, secondary research was utilized, and primary and secondary research was employed to determine their market shares. All percentage share splits and breakdowns were calculated using secondary sources and verified sources.

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The final report will add the analysis of the Impact of Covid-19 in this report Digital Banking Platform Market.
Adapting to the recent novel COVID-19 pandemic, the impact of the COVID-19 pandemic on the global Digital Banking Platform Market is included in the present report. The influence of the novel coronavirus pandemic on the growth of the Digital Banking Platform Market is analyzed and depicted in the report.

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