India Digital Banking Market is expected
to grow at a CAGR of over 22% during 2019-2024 owing to growing technological
advancements, increasing internet penetration and growing number of smartphone
users in India. Digital banking has made banking faster, easier, convenient and
more efficient which drives the growth of the digital banking market in the
country. Moreover, growing population in India, brick and mortar banks would
not be able to provide services to their increasing customers base that’s why
the customers are moving towards the digital banking systems and banks are
pushing their customers for digital banking systems since the digital banking
system can serve large customers and can manage large customer databases. Based
on product type, the market has been categorised into PC and Mobile. In 2018,
PC segment dominated the market owing to increasing internet penetration among
consumer and the mobile segment is anticipated to dominate the market during
forecast period. Moreover, growing technological advancements in digital
banking system and emerging technologies like Artificial Intelligence, IoT etc.
have changes the way how banks provide services to their customers. In India,
more and more banks are opting for smaller branches and pushing their customers
for mobile and internet channels, this has increased the bank’s efficiency.
Furthermore, the digital India programme, a flagship programme of the
government of India to transform India into digitally empowered economy and
country, will further drive the India Digital Banking Market during the
forecast period.
Years
considered for this report:
Historical
Year : 2014-2017
Base Year :
2018
Estimated :
2019
Forecast :
2020-2024
Objective of the Study:
- To define, classify and forecast the India Digital Banking market
based on type, end user, region and company.
- To analyse and forecast the India Digital Banking market size.
- To scrutinize the detailed market segmentation and forecast the
market size, in terms of value, based on end use sectors and regions,
namely, North, South, East and West.
- To identify the supporting factors and challenges for the India Digital
Banking market.
- To strategically profile leading players operating in the India Digital
Banking market.
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Some of the leading players in the India
Digital Banking Market are SAP, Infosys, Innofis, D3
Banking Technology, Alkami, Misys, Q2 ebanking, API, TCS, Accenture etc.
To perform the study, TechSci Research conducted
primary as well as exhaustive secondary research. Initially, TechSci Research
prepared an exhaustive list of Digital Banking companies and service providers
operating in India. Subsequently, TechSci Research conducted primary research
surveys, which include primary calls, email responses, etc., with the
identified companies. While interviewing, the respondents were also asked about
their major competitors. TechSci Research analysed product offerings, services and
regional presence of all major Digital Banking companies across India.
TechSci Research calculated the market size for India Digital
Banking market using a bottom-up technique, wherein sales value data of
different accounting companies was recorded as well as forecast for the future
years. TechSci Research sourced these values from industry experts and company
representatives, and externally validated through analysing historical sales
data of Digital Banking companies to arrive at the overall market size.
Key Target
Audience:
- Digital Banking Companies
- End users of Digital Banking
such as Retail Sector, SMEs, Corporate Digital Banking etc.
- Research & development
organizations and consulting firms
- Associations, organizations,
forums and alliances related to payment ecosystem and payment security
- Government bodies such as
regulating authorities and policy makers
The study is useful in providing answers to several critical
questions that are important for the industry stakeholders, end users, etc.,
besides allowing them in strategizing investments and capitalizing on market
opportunities.
Report Scope:
In this report, India Digital Banking Market has been
segmented into following categories, in addition to the industry trends which
have also been detailed below:
- Market, By Type of Product:
- Market, By End User:
- Retail Digital Banking
- SME Digital Banking
- Corporate Digital Banking
- Market, by Region:
- North
Region
- South
Region
- West Region
- East
Region
Competitive
Landscape
Company Profiles: Detailed analysis of the major
companies present in Digital Banking Market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according the company’s specific needs. The following
customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional
market players (up to five).
In case you don’t find what
you are looking for, please get in touch with our custom research team at [email protected]