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:
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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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Deployment, Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, Japan, South Korea
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Asia-Pacific Digital Banking Platform Market – By Type
1.3.2 Asia-Pacific Digital Banking Platform Market – By Deployment
1.3.3 Asia-Pacific Digital Banking Platform Market – By Geography
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia-Pacific Digital Banking Platform- Market Landscape
4.1 Market Overview
4.2 Ecosystem Analysis
4.3 PEST Analysis
4.3.1 Asia Pacific PEST Analysis
5. Digital Banking Platform Market – Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Increasing penetration of digitization across banking industry is fuelling the demand for digital banking platforms
5.1.2 Increasing popularity of digital banking services among customers
5.2 Key Market Restraints
5.2.1 Lack of cloud infrastructure and requirement of data localization in countries
5.3 Key Market Opportunities
5.3.1 Growing adoption of cloud based solutions
5.4 Future Trends
5.4.1 Increasing partnerships between traditional banks and fintech companies
5.5 Impact Analysis of Drivers and Restraints
6. Asia-Pacific Digital Banking Platform Market–Analysis
6.1 Asia-Pacific Digital Banking Platform Market Overview
6.2 Asia-Pacific Digital Banking Platform Market Forecast and Analysis
7. Asia-Pacific Digital Banking Platforms Market – By Deployment
7.1 Overview
7.2 Asia-Pacific Digital Banking Platforms Market Breakdown, by Deployment, 2018 & 2027
7.3 Cloud
7.3.1 Overview
7.3.2 Asia-Pacific Cloud Market Revenue and Forecasts to 2027 (US$ Mn)
7.4 On-Premise
7.4.1 Overview
7.4.2 Asia-Pacific On-Premise Market Revenue and Forecasts to 2027 (US$ Mn)
8. Asia-Pacific Digital Banking Platforms Market – By Type
8.1 Overview
8.2 Digital Banking Platforms Market Breakdown, by Type, 2018 & 2027
8.3 Corporate Banking
8.3.1 Overview
8.3.2 Asia-Pacific Corporate Banking Market Revenue and Forecasts to 2027 (US$ Mn)
8.4 Retail Banking
8.4.1 Overview
8.4.2 Retail Banking Market Revenue and Forecasts to 2027 (US$ Mn)
9. Asia-Pacific Digital Banking Platform Market– Country Analysis
9.1 Overview
9.1.1 Asia Pacific Digital Banking Platform Market Breakdown, By Key Countries
9.1.1.1 China Digital Banking Platform Market Revenue and Forecast to 2027 (US$ Mn)
9.1.1.1.1 China Digital Banking Platform Market Breakdown by Deployment
9.1.1.1.2 China Digital Banking Platform Market Breakdown by Type
9.1.1.2 Japan Digital Banking Platform Market Revenue and Forecast to 2027 (US$ Mn)
9.1.1.2.1 Japan Digital Banking Platform Market Breakdown by Deployment
9.1.1.2.2 Japan Digital Banking Platform Market Breakdown by Type
9.1.1.3 India Digital Banking Platform Market Revenue and Forecast to 2027 (US$ Mn)
9.1.1.3.1 India Digital Banking Platform Market Breakdown by Deployment
9.1.1.3.2 India Digital Banking Platform Market Breakdown by Type
9.1.1.4 Australia Digital Banking Platform Market Revenue and Forecast to 2027 (US$ Mn)
9.1.1.4.1 Australia Digital Banking Platform Market Breakdown by Deployment
9.1.1.4.2 Australia Digital Banking Platform Market Breakdown by Type
9.1.1.5 South Korea Digital Banking Platform Market Revenue and Forecast to 2027 (US$ Mn)
9.1.1.5.1 South Korea Digital Banking Platform Market Breakdown by Deployment
9.1.1.5.2 South Korea Digital Banking Platform Market Breakdown by Type
9.1.1.6 Rest of APAC Digital Banking Platform Market Revenue and Forecast to 2027 (US$ Mn)
9.1.1.6.1 Rest of APAC Digital Banking Platform Market Breakdown by Deployment
9.1.1.6.2 Rest of APAC Digital Banking Platform Market Breakdown by Type
10. Industry Landscape
10.1 Market Initiative
10.2 Merger and Acquisition
10.3 New Development
11. Company Profiles
11.1 Appway AG
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 CREALOGIX Holding AG
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 EdgeVerve Systems Limited
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Fiserv, Inc.
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Oracle Corporation
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 SAP SE
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Business Description
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Sopra Steria
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Tata Consultancy Services Limited
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Temenos Headquarters SA
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Worldline SA
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary
LIST OF TABLES
Table 1. Asia-Pacific Digital Banking Platform Market Revenue and Forecasts to 2027 (US$ Bn)
Table 2. Asia Pacific Digital Banking Platform Market Revenue and Forecast to 2027 – By Deployment (US$ Mn)
Table 3. Asia Pacific Digital Banking Platform Market Revenue and Forecast to 2027 – By Type (US$ Mn)
Table 4. Asia Pacific Digital Banking Platform Market Revenue and Forecast to 2027 – By Country (US$ Mn)
Table 5. China Digital Banking Platform Market Revenue and Forecast to 2027 – By Deployment (US$ Mn)
Table 6. China Digital Banking Platform Market Revenue and Forecast to 2027 – By Type (US$ Mn)
Table 7. Japan Digital Banking Platform Market Revenue and Forecast to 2027 – By Deployment (US$ Mn)
Table 8. Japan Digital Banking Platform Market Revenue and Forecast to 2027 – By Type (US$ Mn)
Table 9. India Digital Banking Platform Market Revenue and Forecast to 2027 – By Deployment (US$ Mn)
Table 10. India Digital Banking Platform Market Revenue and Forecast to 2027 – By Type (US$ Mn)
Table 11. Australia Digital Banking Platform Market Revenue and Forecast to 2027 – By Deployment (US$ Mn)
Table 12. Australia Digital Banking Platform Market Revenue and Forecast to 2027 – By Type (US$ Mn)
Table 13. South Korea Digital Banking Platform Market Revenue and Forecast to 2027 – By Deployment (US$ Mn)
Table 14. South Korea Digital Banking Platform Market Revenue and Forecast to 2027 – By Type (US$ Mn)
Table 15. Rest of APAC Digital Banking Platform Market Revenue and Forecast to 2027 – By Deployment (US$ Mn)
Table 16. Rest of APAC Digital Banking Platform Market Revenue and Forecast to 2027 – By Type (US$ Mn)
Table 17. Glossary of Terms, Digital Banking Platform Market
LIST OF FIGURES
Figure 1. Asia-Pacific Digital Banking Platform Market Segmentation
Figure 2. Asia-Pacific Digital Banking Platform Market Segmentation – By Region
Figure 3. Asia-Pacific Digital Banking Platform Market Overview
Figure 4. Asia-Pacific Digital Banking Platform Market, By Deployment ($Mn)
Figure 5. Asia-Pacific Digital Banking Platform Market, By Type ($Mn)
Figure 6. Asia-Pacific Digital Banking Platform Market, By Country ($Mn)
Figure 7. Asia-Pacific Digital Banking Platform Market, Industry Landscape
Figure 8. Asia-Pacific Digital Banking Platform Market- Leading Country Markets ($Mn)
Figure 9. Asia-Pacific Digital Banking Platform Market- Ecosystem Analysis
Figure 10. Asia Pacific PEST Analysis
Figure 11. Asia-Pacific Digital Banking Platform Market Impact Analysis of Drivers and Restraints
Figure 12. Asia-Pacific Digital Banking Platform Market Forecast and Analysis, (US$ Mn)
Figure 13. Asia-Pacific Digital Banking Platform Market, By Deployment (%)
Figure 14. Asia-Pacific Cloud Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 15. Asia-Pacific On-Premise Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 16. Asia-Pacific Digital Banking Platform Market, By Type ($Mn)
Figure 17. Asia-Pacific Corporate Banking Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 18. Asia-Pacific Retail Banking Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 19. Asia Pacific Digital Banking Platform Market Breakdown by Key Countries, 2018 & 2027(%)
Figure 20. China Digital Banking Platform Market Revenue and Forecast to 2027 (US$ Mn)
Figure 21. Japan Digital Banking Platform Market Revenue and Forecast to 2027 (US$ Mn)
Figure 22. India Digital Banking Platform Market Revenue and Forecast to 2027 (US$ Mn)
Figure 23. Australia Digital Banking Platform Market Revenue and Forecast to 2027 (US$ Mn)
Figure 24. South Korea Digital Banking Platform Market Revenue and Forecast to 2027 (US$ Mn)
Figure 25. Rest of APAC Digital Banking Platform Market Revenue and Forecast to 2027 (US$ Mn)
The List of Companies
- 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
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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