Home > Media & Technology > Next Generation Technologies > Fintech > Digital Banking Market
Digital Banking Market Size
- Report ID: GMI2651
- Published Date: Dec 2022
- Report Format: PDF
Digital Banking Market Size
Digital Banking Market size surpassed USD 9.4 trillion in 2022 and is projected to witness around 3.6% CAGR from 2023 to 2032. Rising need for advanced financial services across North America to stimulate market expansion.
The growing use of electronic & mobile payment services via NFC and POS terminals will augment market growth. Digital payment methods like UPI, mobile wallets, and internet banking have bolstered significantly ever since the COVID-19 pandemic. These solutions allow users to make payments cash-free while saving a substantial amount of paper which later benefits the environment.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Digital Banking Market Size in 2022: | USD 9 Trillion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 3% |
| 2032 Value Projection: | USD 13 Trillion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 270 |
| Tables, Charts & Figures: | 453 |
| Segments covered: | Type, Service, and Region |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Rising cybercrime cases around the globe could restrain digital banking market growth. Many firms and businesses are concerned about the security of their data owing to the rise in cybercrimes such as phishing, hacking, online identity theft, and ransomware attacks. Businesses are growing more vulnerable to cybercriminals as they store more of their own and customer data online. Dealing with cybercrimes would raise cybersecurity costs, which may ultimately influence the acceptance of digital banking services by customers.
Frequently Asked Questions (FAQ) :
Digital Banking Market Scope
