Portland, Oct. 15, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global digital banking platform market generated $3.95 billion in 2019, and is estimated to reach $10.87 billion by 2027, registering a CAGR of 13.6% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Growing adoption of online banking over traditional bankin, and surge in number of internet users across the globe drive the growth of the global digital banking platform market. However, compliance and data security issues is anticipated to restrain the growth of the market. Furthermore, increase in usage of articificial intelligence and machine learning in digital banking platform is expected to create new growth opportunities for the market players during the forecast period.
Get Instant Access – Download Free PDF Brochure: https://www.alliedmarketresearch.com/request-sample/5539
Covid-19 scenario:
- According to Reserve Bank of India (RBI), transactions made using digital banking platforms in April, 2020 has been to doubled as compared to March, 2020.
- The demand for digital banking platforms is expected to grow significantly as consumers are now preferring them for making financial transactions during Covid-19 pandemic to avoid physical contact and prevent transmission of coronavirus.
The report offers a detailed segmentation of the global digital banking platform market based on component, deployment model, type, banking mode, and region.
Based on component, the solution segment contributed to the largest share in 2019, accounting for nearly three-fourths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the service segment is estimated to portray the highest CAGR of 15.5% during the forecast period.
Based on deployment model, the on-premise segment accounted for the largest share in 2019, holding nearly three-fifths of the total share, and is expected to maintain the dominant share throughout the forecast period. However, the cloud segment is expected to register the highest CAGR of 15.0% from 2020 to 2027.
Enquire For More Detail: https://www.alliedmarketresearch.com/purchase-enquiry/5539
Based on region, North America contributed the highest share, accounting for more than one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 15.4% from 2020 to 2027.
Leading market players analyzed in the research include COR Financial Solution Ltd., Appway, FIS Global, Edgeverve, nCino, Fiserv, Inc, SAP SE, Oracle Corporation, Vsoft Corporation, and Temenos.
Access Avenue (Premium on-demand, subscription-based pricing model) @ https://www.alliedmarketresearch.com/Avenue-Membership-details
Avenue, a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Related Studies:
Predictive Analytics in Banking Market By Component (Solution and Service), Deployment Model (On-Premise and Cloud), Organization Size (Large Enterprise and SME), Application (Fraud Detection and Prevention, Customer Management, Sales and Marketing, Workforce Management and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026
Open Banking Market by Financial Services (Banking and Capital Markets, Payments, Digital Currencies, and Value Added Services) and Distribution Channel (Bank Channel, App market, Distributors, and Aggregators): Global Opportunity Analysis and Industry Forecast, 2019–2026
Mobile Banking Market by Transaction (Consumer-to-consumer and Consumer-to-Business), and Platform (Android, iOS, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.