Asia-Pacific digital banking platform market is expected to grow from US$ 732.3 Mn in 2018 to US$ 2,423.8 Mn by the year 2027. This represents a CAGR of 14.4% from the year 2018 to 2027.
Digital transformation or digitization of businesses refers to the integration of digital technology in various business processes, organizational activities and business models. End-to-end business process optimization, increased operational efficiency, improved customer experience, and reduced costs are few of the factors driving the digital transformation in banking industry. The increasing digital transformation revolution in banking industry presents a massive opportunity for digital banking platform providers as they enable banks to launch digital services faster and enhance customer experience. In addition to this, the proliferation of smart devices, easy availability of internet, advancement of IoT, and artificial intelligence have been increasing exponentially which is further leading to the increasing need of mobile/digital-first strategy among banks. The paradigm shift of banks from traditional channels to digital and automated channels results in multiple benefits ranging from improved efficiency to reduced cost and increased revenue opportunities. In addition to this, the rising technological advancements in cloud computing and storage technology, the power of cloud based digital banking platforms has increased multi-fold during the past few years. This has further created opportunities for players operating in digital banking platform market. Hence, the rising trend of digital transformation in the banking industry is expected to fuel the adoption of digital banking platforms among banks, during the forecast period from 2019 to 2027.
Currently, China is dominating in the Asia-Pacific digital banking platform market owing to the high rate of adoption of new technologies in the region. Factors such as growing digitization across BFSI sector and rising demand for mobile banking solutions are contributing substantially towards the growth of digital banking platform market in Asia-Pacific. The figure given below highlights the revenue share of rest of Asia-Pacific in the Asia-Pacific digital banking platform market in the forecast period:
ASIA-PACIFIC DIGITAL BANKING PLATFORM MARKET - SEGMENTATION
Asia-Pacific Digital Banking Platform Market by Type
Corporate Banking
Retail Banking
Asia-Pacific Digital Banking Platform Market by Deployment Type
On-Premise
Cloud
Asia-Pacific Digital Banking Platform Market by Country
Australia
China
India
Japan
South Korea
Rest of Asia-Pacific
Companies Mentioned
Appway AG
CREALOGIX Holding AG
EdgeVerve Systems Limited
Fiserv, Inc.
Oracle Corporation
SAP SE
Sopra Steria
Tata Consultancy Services Limited (TCS)
Temenos Headquarters SA
Worldline SA
Asia Pacific Digital banking platform Market Strategic Insights
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Asia Pacific Digital banking platform Market Segmentation Analysis
Asia Pacific Digital banking platform Market Report Highlights
Asia Pacific Digital banking platform Report Scope
Report Attribute
Details
Market size in 2018
US$ 732.3 Million
Market Size by 2027
US$ 2,423.8 Million
CAGR (2018 - 2027)
14.4%
Historical Data
2016-2017
Forecast period
2019-2027
Segments Covered
By Deployment
Cloud and On-Premise
By Type
Corporate Banking and Retail Banking
Regions and Countries Covered
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
Market leaders and key company profiles
Appway AG
CREALOGIX Holding AG
EdgeVerve Systems Limited
Fiserv, Inc.
Oracle Corporation
SAP SE
Sopra Steria
Tata Consultancy Services Limited (TCS)
Temenos Headquarters SA
Worldline SA
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Asia Pacific Digital banking platform Market Country and Regional Insights
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Identical Market Reports with other Region/Countries
How big is the Asia Pacific Digital banking platform Market?
The Asia Pacific Digital banking platform Market is valued at US$ 732.3 Million in 2018, it is projected to reach US$ 2,423.8 Million by 2027.
What is the CAGR for Asia Pacific Digital banking platform Market by (2018 - 2027)?
As per our report Asia Pacific Digital banking platform Market, the market size is valued at US$ 732.3 Million in 2018, projecting it to reach US$ 2,423.8 Million by 2027. This translates to a CAGR of approximately 14.4% during the forecast period.
What segments are covered in this report?
The Asia Pacific Digital banking platform Market report typically cover these key segments-
Deployment (Cloud and On-Premise)
Type (Corporate Banking and Retail Banking)
What is the historic period, base year, and forecast period taken for Asia Pacific Digital banking platform Market?
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Digital banking platform Market report:
Historic Period : 2016-2017
Base Year : 2018
Forecast Period : 2019-2027
Who are the major players in Asia Pacific Digital banking platform Market?
The Asia Pacific Digital banking platform Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
Appway AG
CREALOGIX Holding AG
EdgeVerve Systems Limited
Fiserv, Inc.
Oracle Corporation
SAP SE
Sopra Steria
Tata Consultancy Services Limited (TCS)
Temenos Headquarters SA
Worldline SA
Who should buy this report?
The Asia Pacific Digital banking platform Market report is valuable for diverse stakeholders, including:
Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.
Essentially, anyone involved in or considering involvement in the Asia Pacific Digital banking platform Market value chain can benefit from the information contained in a comprehensive market report.
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