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APAC soon to be the fastest growing Digital Banking Market globally: Report

The global digital banking market is expected to grow at a steady 16 percent CAGR.

February 19, 2019 / 08:27 PM IST

Asia-Pacific will occupy for more share in the fast-growing digital banking market in the following years, reveals a recent Digital Banking Market research report. India and China will soon become the leading digital banking markets in the region.

The global Digital Banking market is valued at 5180 million USD in 2018 and is expected to reach 12800 million USD by the end of 2024, growing at a CAGR of 16.3% between 2019 and 2024,United States is the largest countries of digital banking in the world in the past few years and it will keep increasing in the next few years. North America market took up about 48.73% the global market in 2017, while Europe and Asia-Pacific were about 30.22%, 16.54%.

Europe countries like Germany, UK and Spain are developing fast, so does BusiIndia, which is offering service for many banks and other corporations. There are a few vendors developing digital banking in China, such as IT companies Huawei, Sunline are participating the digital banking business, and they may show a rapid development.

North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Digital Banking.
Moneycontrol News
first published: Feb 19, 2019 08:27 pm
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