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Online Banking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global online banking market reached a value of US$ 3.84 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 5.18 Billion by 2027, exhibiting a growth rate (CAGR) of 4.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Online banking, also known as internet banking, is an electronic payment system facility provided by banks and financial institutions. It allows customers to use banking services and conduct financial transactions over the internet. Some commonly offered services include online bill payments, account opening, deposits, and transfers. It also enables users to view account balances, check recent transactions, obtain statements, apply for credit cards, and order checks. In recent years, online banking has gained immense popularity across the globe due to its cost-effectiveness, ease of use, instant access, enhanced security, and fast service.

 

 
 

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Online Banking Market Trends:

Online banking offers more convenience, saves time, delivers a smooth experience, and eliminates the need for customers to visit the physical branch. As a result, the escalating demand for enhanced customer experience and the widespread adoption of cloud-based solutions by banks and financial institutions represent the primary factors driving the market growth. Besides this, the growing need for improved transparency and flexibility, and the rising penetration of the internet and smartphones are escalating the demand for online banking services. Additionally, the recent coronavirus disease (COVID-19) outbreak has led to the increased usage of online banking due to the implementation of lockdowns, social distancing norms, and remote working policies. Along with this, the advent of the cashless age and the expanding e-commerce sector are propelling the market growth. Furthermore, several leading players are making heavy investments to introduce innovative product variants to expand their customer base and maintain a competitive edge. Other factors, including the emergence of the Banking as a Service (BaaS) model, favorable government initiatives, changing consumer preferences, technological advancements, and rapid digitization, are also creating a positive market outlook.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global online banking market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on banking type, software type and service type.

Breakup by Banking Type:

 

 
 

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  • Retail Banking
  • Corporate Banking
  • Investment Banking
     

Breakup by Software Type:

  • Customized Software
  • Standard Software
     

Breakup by Service Type:

  • Payments
  • Processing Services
  • Customer and Channel Management
  • Wealth Management
  • Others
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Aci Worldwide Inc., Backbase, Capital Banking Solutions, CGI Inc., ebankIT, EdgeVerve Systems Limited (Infosys Limited), Fiserv Inc., Halcom d.d. (Constellation Software Inc.), Oracle Corporation, Tata Consultancy Services Limited, Technisys and Temenos AG.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Banking Type, Software Type, Service Type, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Aci Worldwide Inc., Backbase, Capital Banking Solutions, CGI Inc., ebankIT, EdgeVerve Systems Limited (Infosys Limited), Fiserv Inc., Halcom d.d. (Constellation Software Inc.), Oracle Corporation, Tata Consultancy Services Limited, Technisys and Temenos AG.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction
    4.1    Overview
    4.2    Key Industry Trends
5    Global Online Banking Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Banking Type
    6.1    Retail Banking
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Corporate Banking
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Investment Banking
        6.3.1 Market Trends
        6.3.2 Market Forecast
7    Market Breakup by Software Type
    7.1    Customized Software
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Standard Software
        7.2.1 Market Trends
        7.2.2 Market Forecast
8    Market Breakup by Service Type
    8.1    Payments
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Processing Services
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Customer and Channel Management
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Wealth Management
        8.4.1 Market Trends
        8.4.2 Market Forecast
    8.5    Others
        8.5.1 Market Trends
        8.5.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia-Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis
    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape
    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Aci Worldwide Inc.
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
           14.3.1.3 Financials
           14.3.1.4 SWOT Analysis
        14.3.2    Backbase
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
        14.3.3    Capital Banking Solutions
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
        14.3.4    CGI Inc.
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio
           14.3.4.3 Financials
           14.3.4.4 SWOT Analysis
        14.3.5    ebankIT
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
        14.3.6    EdgeVerve Systems Limited (Infosys Limited)
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
        14.3.7    Fiserv Inc.
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
           14.3.7.3 Financials
           14.3.7.4 SWOT Analysis
        14.3.8    Halcom d.d. (Constellation Software Inc)
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
        14.3.9    Oracle Corporation
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
           14.3.9.3 Financials
           14.3.9.4 SWOT Analysis
        14.3.10    Tata Consultancy Services Limited
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio
           14.3.10.3 Financials
           14.3.10.4 SWOT Analysis
        14.3.11    Technisys
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio
        14.3.12    Temenos AG
           14.3.12.1 Company Overview
           14.3.12.2 Product Portfolio
           14.3.12.3 Financials
           14.3.12.4 SWOT Analysis

List of Figures

Figure 1: Global: Online Banking Market: Major Drivers and Challenges
Figure 2: Global: Online Banking Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Online Banking Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Online Banking Market: Breakup by Banking Type (in %), 2021
Figure 5: Global: Online Banking Market: Breakup by Software Type (in %), 2021
Figure 6: Global: Online Banking Market: Breakup by Service Type (in %), 2021
Figure 7: Global: Online Banking Market: Breakup by Region (in %), 2021
Figure 8: Global: Online Banking (Retail Banking) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Online Banking (Retail Banking) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Online Banking (Corporate Banking) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Online Banking (Corporate Banking) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Online Banking (Investment Banking) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Online Banking (Investment Banking) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Online Banking (Customized Software) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Online Banking (Customized Software) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Online Banking (Standard Software) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Online Banking (Standard Software) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Online Banking (Payments) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Online Banking (Payments) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Online Banking (Processing Services) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Online Banking (Processing Services) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Online Banking (Customer and Channel Management) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Online Banking (Customer and Channel Management) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Online Banking (Wealth Management) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Online Banking (Wealth Management) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Online Banking (Other Service Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Online Banking (Other Service Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: North America: Online Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: North America: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: United States: Online Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: United States: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Canada: Online Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Canada: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Asia-Pacific: Online Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Asia-Pacific: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: China: Online Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: China: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Japan: Online Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Japan: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: India: Online Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: India: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: South Korea: Online Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: South Korea: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Australia: Online Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Australia: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Indonesia: Online Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Indonesia: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Others: Online Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Others: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Europe: Online Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Europe: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Germany: Online Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Germany: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: France: Online Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: France: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: United Kingdom: Online Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: United Kingdom: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Italy: Online Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Italy: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Spain: Online Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Spain: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Russia: Online Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Russia: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Others: Online Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Others: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Latin America: Online Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Latin America: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Brazil: Online Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Brazil: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Mexico: Online Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Mexico: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Others: Online Banking Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Others: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Middle East and Africa: Online Banking Market: Sales Value (in Million US$), 2016 & 2027
Figure 75: Middle East and Africa: Online Banking Market: Breakup by Country (in %), 2021
Figure 76: Middle East and Africa: Online Banking Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Global: Online Banking Industry: SWOT Analysis
Figure 78: Global: Online Banking Industry: Value Chain Analysis
Figure 79: Global: Online Banking Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Online Banking Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Online Banking Market Forecast: Breakup by Banking Type (in Million US$), 2022-2027
Table 3: Global: Online Banking Market Forecast: Breakup by Software Type (in Million US$), 2022-2027
Table 4: Global: Online Banking Market Forecast: Breakup by Service Type (in Million US$), 2022-2027
Table 5: Global: Online Banking Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Online Banking Market: Competitive Structure
Table 7: Global: Online Banking Market: Key Players


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Key Questions Answered in This Report

The global online banking market was valued at US$ 3.84 Billion in 2021.

We expect the global online banking market to exhibit a CAGR of 4.60% during 2022-2027.

The advent of cashless transactions, along with the rising adoption of cloud-based solutions by banks and financial institutions, to enhance customer experience, is primarily driving the global online banking market.

The sudden outbreak of the COVID-19 pandemic has led to the growing prominence of online banking solutions to avoid the risk of coronavirus infection upon human interaction across brick-and-mortar financial centers.

Based on the banking type, the global online banking market has been segmented into retail banking, corporate banking, and investment banking. Currently, retail banking holds the majority of the total market share.

Based on the service type, the global online banking market can be divided into payments, processing services, customer and channel management, wealth management, and others. Among these, payments exhibit a clear dominance in the market.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global online banking market include Aci Worldwide Inc., Backbase, Capital Banking Solutions, CGI Inc., ebankIT, EdgeVerve Systems Limited (Infosys Limited), Fiserv Inc., Halcom d.d. (Constellation Software Inc.), Oracle Corporation, Tata Consultancy Services Limited, Technisys, and Temenos AG.

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