Global Online Banking Software Market by Type (Cloud-based, On-premises), By Application (Small and Medium Enterprises (SMEs), Large Enterprises) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global online banking software market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for cloud-based online banking software and the rising adoption of mobile banking by consumers. The global online banking software market is segmented on the basis of type, application, and region. On the basis of type, it is segmented into cloud-based and on-premises. Cloud-based online banking software are witnessing a higher adoption due to their ease of use and low installation costs as compared to on-premises solutions. On the basis of application, it is segmented into small and medium enterprises (SMEs) and large enterprises. SMEs are expected to account for a larger share in this market due to their growing need for efficient financial management solutions that can help them manage their finances effectively.



Get Free Sample Report

Product Definition:

Online Banking Software is a type of software that allows users to conduct banking transactions over the internet. This software can be used to check account balances, transfer funds, and pay bills. Online Banking Software is important because it allows users to bank from anywhere with an internet connection.

Cloud-based:

Cloud-based software is a type of service that allows users to access their bank accounts and carry out other banking transactions from any location. The technology enables banks to share data with users in real-time, thereby eliminating the need for frequent system upgrades and maintenance. Cloud-based solutions have been adopted by several financial institutions as they offer numerous benefits such as reduced operational costs, increased efficiency & effectiveness of back-office operations, enhanced customer experience along with regulatory compliance.

On-premises:

On-premises is a term used for software and services that are hosted on the end user's system. The most common type of on-premises software is the web server, which hosts an organization's website. On-premise solutions offer several advantages such as easy integration with existing systems and low cost of ownership but there are some disadvantages too like high maintenance cost, limited scalability & customization options etc., which can be worked around by consulting or outsourcing support but not completely avoided.

Application Insights:

The SMEs segment held the largest market share in 2017. The growth of this segment can be attributed to factors such as easy access to internet banking and growing preference for online transactions. Furthermore, increasing penetration of e-commerce is also propelling the growth of this segment. According to a study published by Inc42, in 2018, 51% of total Indian population uses online channels for payment and financial services compared with 32% globally. This factor is expected to drive the demand over the forecast period.

The large enterprises application segment is anticipated register a significant CAGR over the forecast period owing to various benefits offered by on-line banking software including time saving & efficiency enhancing features coupled with cost reduction opportunities that result in increased productivity.

Regional Analysis:

North America dominated the global market in 2017. The growth of the regional market can be attributed to several factors such as early adoption of online banking software, high internet penetration, and presence of a large number of players in this region. Moreover, increasing demand for mobile-based banking apps is also expected to drive the growth over the forecast period.

Asia Pacific is anticipated to witness significant growth over the next eight years owing to rising internet penetration and increasing adoption of smartphones among users. Additionally, growing investments by various governments in developing countries are expected to boost online financial services delivery over this period. For instance, China has implemented a national plan named “Western Development Strategy” that aims at promoting digitalization across all economic sectors including agriculture & rural development; healthcare; public safety & justice; social security; consumer protection; urban infrastructure development etc.

Growth Factors:

Increasing demand for online banking software from small and medium-sized businesses (SMBs) due to the advantages offered by such software, such as reduced costs, increased efficiency, and improved security.
The increasing use of mobile devices for banking transactions will drive the demand for online banking software in the coming years.
The growing trend of cloud-based deployments of online banking software will help to fuel market growth in the next few years.
Rising concerns over data security among consumers is expected to propel the adoption of online banking software solutions in the near future.


Get Free Sample Report
Scope Of The Report
Report Attributes
Report Details
Report Title
Online Banking Software Market Research Report
By Type
Cloud-based, On-premises
By Application
Small and Medium Enterprises (SMEs), Large Enterprises
By Companies
Tipalti, Megasol Technologies, Banking Systems, EBANQ Holdings, Temenos Group, ieDigital, Probanx Information Systems, Enterprise Software & Technologies, Infosys Technologies, Abba
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
166
Number of Tables & Figures
117
Customization Available
Yes, the report can be customized as per your need.

Global Online Banking Software Market Report Segments:
The global Online Banking Software market is segmented on the basis of:
Types
Cloud-based, On-premises
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Small and Medium Enterprises (SMEs), Large Enterprises
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
Tipalti
Megasol Technologies
Banking Systems
EBANQ Holdings
Temenos Group
ieDigital
Probanx Information Systems
Enterprise Software & Technologies
Infosys Technologies
Abba



Get Free Sample Report

Highlights of The Online Banking Software Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
Cloud-based
On-premises
By Application:
Small and Medium Enterprises (SMEs)
Large Enterprises
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Online Banking Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
Identifying Appropriate Advertising Appeals



8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

Frequently Asked Questions?