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Online Banking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Online Banking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
  • Publish Date:March 2023

  • Number of Pages:143

  • Report ID:6280575

  • Format:PDF

  • Publisher:IMARC Group

$ 2499


The global online banking market size reached US$ 4.0 Billion in 2022. Looking forward, the analyst expects the market to reach US$ 5.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.3% during 2023-2028.

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.

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:
the analyst provides an analysis of the key trends in each sub-segment of the global online banking market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on banking type, software type and service type.

Breakup by Banking Type:
Retail Banking
Corporate Banking
Investment Banking

Breakup by Software Type:
Customized Software
Standard Software

Breakup by Service Type:
Processing Services
Customer and Channel Management
Wealth Management

Breakup by Region:
North America
United States
South Korea
United Kingdom
Latin America
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.

Key Questions Answered in This Report

1. What was the size of the global online banking market in 2022?
2. What is the expected growth rate of the global online banking market during 2023-2028?
3. What are the key factors driving the global online banking market?
4. What has been the impact of COVID-19 on the global online banking market?
5. What is the breakup of the global online banking market based on the banking type?
6. What is the breakup of the global online banking market based on the service type?
7. What are the key regions in the global online banking market?
8. Who are the key players/companies in the global online banking market?

Table of contents

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...


Our market research methodology is designed to provide the clients with comprehensive and accurate information on various industries and markets. It includes data collection, primary interviews, macro-economic factor analysis, country-level data analysis etc.