1. Market Research
  2. > E-Services Market Trends
  3. > Online Banking

Internet Banking Industry: Comprehensive Market Analysis

  • Currently 3/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
24 votes

Major sectors under Online Banking

More market segments:

Global Online Banking Industry 

The global online banking industry, which is considered as an e-service, has been playing an increasingly important role in recent years within the retail banking industry, driven by widespread internet penetration and changing consumer habits.

Growth in the e-commerce sector has seen more customers make the transition from paper payments to online payments. Consumers are now demanding a greater degree of transparency and flexibility in their banking requirements. According to yStats, there will be almost 3 billion internet users across the globe in 2015, marking a 1 billion increase in four years. It is forecast B2C e-commerce sales will total between $700 billion - $950 billion by 2013.

Financial service providers are under pressure to find ways to set themselves apart to capture the greatest proportion of the active online customer base as competition stiffens in the sector. Research from DataMonitor points to the importance of security in developing online banking, with other important factors being better online functionality, bolstering point-of-sale support and personalizing the online experience.

The online banking industry can also include the online insurance market and the online investing segment.

Mobile Online Payments

Widespread internet penetration in developed countries means online payment services or e-commerce is more advanced. However, mobile payments continue to witness significant growth in developing economies like Kenya, China, Brazil and India. These countries also have a higher number of mobile phones over bank accounts, according to research from Timetric. Changes in consumer behavior in these countries continue to pave the way for start-up outfits that provide a range of alternative payment instruments. Growth in the online and mobile payment sector will continue, with state institutions contributing to the expansion of alternative payment channels.

According to research from TechNavio, the global mobile commerce payment market is expected to expand by as much as 80% over the four-year period ending 2015. Industry performance will be fuelled by widespread adoption of mobile devices. Consumers are also increasingly using mobile payment options for ticketing and digital goods purchase. One prominent obstacle to market growth concerns the protection of financial information. Leading vendors currently operating in this market include Google, Isis, PayPal and Citibank.

Regional Market Share

China’s mobile payment sector has witnessed significant growth in recent times, with the country’s mobile payment market penetration rate rising from less than 19% in 2010 to almost 26% in 2011, reports Research in China. Various actors operate in China’s mobile payment sector including financial institutions, third-party payment operators, mobile operators and device manufacturers. China Mobile and China UnionPay are to put the joint account and payment platform in place.

In Australia, around 35% of all internet banking transactions are carried out on mobile devices. Online banking witnessed 270% growth between 2011 and 2012 in Australia.

Read more »

You might be interested in these related markets:

Customer Support

Talk to Sam

+1 646 893 5945

17 Reports
Demand, Trade, Company
160 Statistics
Market Size, Finance, Company Financials
120 Reports
Demand, Market Size, Market Description
300 Statistics
Market Size, Demand, Finance
9 Reports
Demand, Regulation, Market Size
31 Statistics
Market Size, Finance, Demand
21 Reports
Statistics, Demand, Company
85 Statistics
Market Size, Finance, Company Financials
29 Reports
Market Size, Demand, Regulation
68 Statistics
Market Size, Finance, Company Financials
16 Reports
Demand, Economy, Market Size
130 Statistics
Market Size, Trade, Government Statistics
4 Reports
Demand, Market Size, Company
47 Statistics
Company, Finance, Market Size
4 Reports
Price, Market Size, Forecast
19 Statistics
Market Size, Trade, Government Statistics
5 Reports
Demand, Regulation, Forecast
60 Statistics
Demand, Market Size, Company
4 Reports
Company Financials, Market Size, Demand
38 Statistics
Economy, Environment, Company
Search in Online Banking Industry (About 1000 reports)
Parent industry: E-Services
Related industries: E-Healthcare, E-Government, Online Travel, E-Learning

68 reports

Purchase Reports From Reputable Market Research Publishers

Investments Global Market Report 2019

Investments Global Market Report 2019

  • $ 6000
  • Industry report
  • January 2019

Investments Market Global Report 2019 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global investments ...

Digital Banking Platforms Market by Banking Type, Banki ... $ 5650 November 2018

2018 U.S. Consumer Banking Channel Preference Survey: D ... $ 4500 October 2018

IDC PeerScape: Lessons Learned from Retail Mobile Banki ... $ 4500 May 2018

Investment Banking Global Market Report 2019 $ 4000 January 2019

Global Crowdfunding Market 2018-2022 $ 2500 November 2018

Global Alternative Finance Market 2018-2022 $ 2500 July 2018

Broker Distribution Insight: Which Insurers Lead the Wa ... $ 1995 May 2018

Future of Digital Banking $ 1923 September 2017

FinTech Watchlist Company Profile – ZhongAn $ 1500 December 2017

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on