1. Market Research
  2. > Financial Services
  3. > Banking
  4. > Retail Banking Market Trends
  5. > Online Banking

Internet Banking Industry: Comprehensive Market Analysis

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

Global Online Banking Industry 

The global online banking industry 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.

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 »

Share
24/7 Customer Support

Talk to Sam

+33 4 37 65 17 06

1-10 of about 300 reports

Global Online Banking Industry - Forecast

  • January 2017
    11 pages
  • Online Banking  

    Retail Banking  

View report >

Online Banking Demand Statistics in the US

  • January 2017
    85 pages
  • Payments  

  • United States  

    North America  

View report >

Online Banking Industry in Europe

  • May 2017
    18 pages
  • Online Banking  

    Retail Banking  

  • Europe  

    World  

View report >

Online Banking Markets in Asia

  • January 2017
    5 pages
  • Online Banking  

    Online Banking  

  • Asia  

    Singapore  

    New Zealand  

View report >

Online Banking Markets in Japan

  • January 2016
    6 pages
  • Online Banking  

  • Japan  

View report >

Online Banking Markets in India - Forecast

  • December 2015
    8 pages
  • Banking  

    Online Banking  

  • India  

View report >

Online Banking Industry in China - Forecast

  • January 2015
    7 pages
  • Online Banking  

  • China  

    United States  

    Singapore  

View report >

Online Banking Industry in Indonesia

  • January 2016
    8 pages
  • Indonesia  

View report >

Online Banking Industry in Europe and Spain

  • July 2016
    11 pages
  • Online Banking  

  • Europe  

    Spain  

    United Kingdom  

View report >

Online Banking Industry in Spain

  • January 2016
    16 pages
  • Online Banking  

  • Spain  

    Europe  

View report >

Search in Online Banking Industry (About 300 reports)
Parent industry: Retail Banking
Related industries: 

26 reports

Purchase Reports From Reputable Market Research Publishers
(From € 529 - € 6000)

Mass Affluents: Attitudes and Needs in Singapore

Mass Affluents: Attitudes and Needs in Singapore

  • € 3136
  • Industry report
  • July 2016
  • by GlobalData

SummaryMass affluent populations around the world are growing in size, making them an increasingly important segment for financial providers. These consumers possess more financial products than average, ...

Mass Affluents: Channel Use in Hong Kong € 3136 September 2016

Mass Affluents: Channel Use in Singapore € 3136 August 2016

China Banking IT Solutions Market Shares, 2015: Market ... € 6000 October 2016

U.S. Consumer Payments Outlook Through 2020 € 4541 May 2017

Future of Digital Banking € 1765 September 2017

Digital banking operator case studies: Orange, Telefón ... € 1363 July 2017

The Future of Digital Banking – Supplier Profiles € 529 June 2017

The Future of Digital Banking – Market Overview € 529 June 2017

Mass Affluents: Attitudes and Needs in Singapore € 3136 July 2016


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