Market Study Report has released a new research study on Digital Banking Platform Market Analysis 2019-2027 inclusive of one or more factors covering regional opportunities, application landscape, product demand trends, and end-use portfolio of the industry over the forecast timeframe. The report also outlines the competitive framework of the Digital Banking Platform industry detailing the SWOT analysis and market share dominance of the prominent players.
The global digital banking platform market was valued at US$ 3.17 Bn in 2018 and is expected to reach US$ 8.67 Bn by 2027 with a CAGR growth rate of 12.07% in the forecast period from 2019 to 2027.
The major driving factors contributing to the digital banking platform market growth includes the growing digital transformation in the banking industry and rising demand for smart mobile devices and digital banking services among consumers. The digital banking platform market is segmented on the basis of deployment and type. Based on type, the digital banking platform market is segmented into corporate banking and retail banking. On the basis of deployment, the digital banking platform market is segmented into the cloud and on-premise. Retail banking contributed a substantial share in the global digital banking platform market. The digital revolution across the globe has changed the banking landscape as well as customer behavior and expectations. New ecosystem players such as fintechs, open banking, payment services directive, and SWIFT standards are emerging in the global banking industry with innovative technology solutions. In 2018, on-premise was the leading segment by deployment type; however, cloud-based deployment is experiencing a high CAGR.
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The key players present in the digital banking platform market include Appway AG, CREALOGIX Holding AG, EdgeVerve Systems Limited, Fiserv, Inc., Oracle Corporation, SAP SE, Sopra Steria, Tata Consultancy Services Limited, Temenos Headquarters SA, and Worldline SA among others. Some other notable digital banking platform market players include Backbase, ieDigital, ebanklT, ETRONIKA, Fidor Solutions AG, Finastra, Intellect Design Arena Ltd, Kony, Inc., NETinfo Plc, NF Innova, TAGIT PTE LTD, and Technisys, which are not profiled in the report but the can be included based on request.
The deployment of on-premise solutions is sometimes complex and expensive to build in-house. Not every small and medium-sized enterprise finds it feasible to invest in on-premise digital banking solutions. Hence the demand for the cloud-based model is anticipated to grow at a fast pace during the forecast period, especially among small and medium enterprise in developing regions. Also, the growing digital revolution across the globe is fueling the adoption of cloud-based deployment in numerous industry.
The overall digital banking platform market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the digital banking platform market. It also provides the overview and forecast for the global digital banking platform market based on all the segmentation provided concerning five primary reasons such as North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
Compared to cloud service, on-premise is costlier as it requires IT infrastructure and installation of the software. Small and medium enterprise prefer cloud service rather than on-premise due to low budget and high cost of service. The large enterprise mostly adopts the on-premise deployment model as due to their high budgets, they can afford all the installation cost. The on-premise model also provides more security than the cloud model; hence, most of the large organizations adopt on-premise as their deployment model to prevent online theft. On-premise models provides security of the corporate content. On-premise deployment type provides higher agility than the cloud deployment type.
Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the digital banking platform industry.
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TABLE OF CONTENTS
2. Key Takeaways
3. Research Methodology
4. Digital Banking Platform- Market Landscape
5. Digital Banking Platform Market Key Industry Dynamics
6. Digital Banking Platform Market Global Analysis
6.1 Global Digital Banking Platform Market Overview
6.2 Global Digital Banking Platform Market Forecast and Analysis
6.3 Market Positioning- Top Five Players
7. Digital Banking Platforms Market By Deployment
8. Digital Banking Platforms Market By Type
9. Global Digital Banking Platform Market? Geographical Analysis
10. Industry Landscape
11. Company Profiles
11.1 Appway AG
11.2 CREALOGIX Holding AG
11.3 EdgeVerve Systems Limited
11.4 Fiserv, Inc.
11.5 Oracle Corporation
11.6 SAP Se
11.7 Sopra Steria
11.8 Tata Consultancy Services Limited
11.9 Temenos Headquarters SA
11.10 Worldline SA
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