Europe digital banking platform market is expected to grow from US$ 935.7 Mn in 2018 to US$ 2340.3 Mn by the year 2027. This represents a CAGR of 11.0% 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 the 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 the customer experience. In addition to this, the proliferation of smart devices, easy availability of internet, the 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.
Currently, Germany is dominating in the Europe digital banking platform market owing to the strong presence of the banking industry in the country. Factors such as growing digitization across BFSI sector and rising demand for mobile banking solutions are contributing substantially towards the growth of the digital banking platform market in Europe. The figure is given below highlights the revenue share of the rest of Europe in the Europe digital banking platform market in the forecast period:
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EUROPE DIGITAL BANKING PLATFORM MARKET - SEGMENTATION
Europe Digital Banking Platform Market by Type
- Corporate Banking
- Retail Banking
Europe Digital Banking Platform Market by Deployment Type
- On-Premise
- Cloud
Europe Digital Banking Platform Market by Country
- Germany
- UK
- France
- Italy
- Russia
- Rest of Europe
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
Europe Digital banking platform Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 935.7 Million |
| Market Size by 2027 | US$ 2340.3 Million |
| Global CAGR (2018 - 2027) | 11.0% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Deployment
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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
UK, Germany, France, Italy, Russia
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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
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