Base Year
Historical Year
Forecast Year
The global online banking market attained a value of USD 20.14 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 12.9% to reach a value of USD 60.05 billion by 2032.
| Global Online Banking Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 20.1 |
| Market Size 2032 | USD Billion | 60.1 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 12.9% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 17.4% |
| CAGR 2024-2032 - Market by Country | India | 19.2% |
| CAGR 2024-2032 - Market by Country | China | 18.3% |
| CAGR 2024-2032 - Market by Banking Type | Corporate Banking | 14.4% |
| CAGR 2024-2032 - Market by Service Type | Payments | 14.6% |
| Market Share by Country 2023 | USA | 7.6% |
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The online banking business was dominated by the payments segment based on service type. Because of a large number of consumers migrating to online payment systems, which offer more convenience and time-saving features than traditional payment methods, the segment witnessed a considerable growth. The payments segment is expected to continue its dominance over the forecast period as a result of the superior customer service and a consistent user experience, which is becoming a prominent trend in the industry. In addition, increasing collaborations, implementing business strategies, providing customised solutions, and improving digital channels for online payments are anticipated to help the market grow.
Region-wise, North America is expected to dominate the global market for online banking in the forecast period. This can be attributed to the presence of robust banking infrastructure and the increased acceptance of advanced technology in the region. Meanwhile, in the anticipated term, the Asia Pacific is expected to witness a healthy growth due to the increasing demand to access online banking services in nations like China, India, Japan, and Australia, as a result of the growing internet usage.
An electronic payment system that allows users to make financial transactions over the internet is known as online banking. All typical banking operations and programmes, such as money deposits, withdrawals, transfers, savings account administration, financial product application, loan management, bill payments, and other account services, can also be digitised.
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By service type, the industry is segmented into:
| CAGR 2024-2032 - Market by | Service Type |
| Payments | 14.6% |
| Customer and Channel Management | 13.8% |
| Processing Services | XX% |
| Wealth Management | XX% |
| Others | XX% |
The market can be broadly categorised on the basis of banking type into:
| CAGR 2024-2032 - Market by | Banking Type |
| Corporate Banking | 14.4% |
| Retail Banking | XX% |
| Investment Banking | XX% |
The EMR report looks into the regional markets of the product like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
| CAGR 2024-2032 - Market by | Region |
| Asia Pacific | 17.4% |
| Latin America | 14.8% |
| North America | XX% |
| Europe | XX% |
| Middle East and Africa | XX% |
| CAGR 2024-2032 - Market by | Country |
| India | 19.2% |
| China | 18.3% |
| Brazil | 17.0% |
| Japan | 14.8% |
| Mexico | 14.5% |
| USA | XX% |
| Canada | XX% |
| UK | XX% |
| Germany | XX% |
| France | XX% |
| Italy | XX% |
| Australia | XX% |
| Saudi Arabia | XX% |
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| Market Share by | Country |
| USA | 8% |
| Canada | XX% |
| UK | XX% |
| Germany | XX% |
The growing internet penetration and smartphone usage, supported by the rapid digitisation globally, is driving the expansion of the online banking industry. Cloud computing, application programming interfaces (APIs), robotic process automation (RPA), chatbots, machine learning, and blockchain are among key technologies that are accelerating the growth of the online banking business. Furthermore, the expansion of the online banking industry is fuelled by real-time payment solutions, convenience and simpler access to online banking, and rising smartphone usage. Furthermore, during the forecast period, the market is expected to increase at a significant rate. This is due to the banking industry's tremendous development and uniformity in terms of products and services delivered via mobile application, as well as greater consumer brand loyalty, which, in turn, has fuelled the expansion of the online banking sector. In addition, the market's expansion is increasingly being driven by high-yield interest rates. Because online banking has enabled investors to keep a real-time track of their investment portfolio while investing or trading online with continuous access to their funds, the market is likely to increase. Thus, these online banking features are likely to accelerate the market expansion in the near future.
The report presents a detailed analysis of the following key players in the global online banking market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Service Type |
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| Breakup by Banking Type |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market attained a value of nearly USD 20.14 billion.
The market is projected to grow at a CAGR of 12.9% between 2024 and 2032.
The major market drivers are the enhanced convenience and time-saving features offered by online banking, improving digital channels for online payments, and robust banking infrastructure in developed countries.
The key trends aiding the market demand include technological advancements and innovations, the increasing availability of real-time payment solutions, and high-yield interest rates offered by online banks.
The major regions in the online banking market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various segments based on the online banking service type are payments, processing services, customer and channel management, and wealth management, among others.
The significant banking types considered in the market report are retail banking, corporate banking, and investment banking.
The key players in the market are ACI Worldwide, Capital Banking Solution, Cor Financial Solutions Limited, EdgeVerve Systems Limited, and Fiserv, Inc., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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