About Digital Finance
Digital finance is the term which is used for describing the impact of new technologies on the financial services industry. It includes a variety of products, applications, processes and business models which have transformed the traditional way of providing banking and financial services. In recent years the investment in technologies have increased and the pace of innovation is exponential. Now a days we make payments, transfer money and make investments using a variety of new tools that were not there. This can contribute to bringing down national barriers and spurring competition in areas such as, online banking, online payment and transfer services, peer-to-peer lending, and personal investment advice and services.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Digital Finance market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Oracle (United States), Deloitte (United Kingdom), NEC (Japan), KPMG (Netherlands), Accenture (Ireland), Cognizant (United States), Capgemini (France), Fujitsu (Japan) and Fiserv (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Backbase (Singapore), Q2 Holdings (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Digital Finance market by Type (Internet banking, Mobile banking, Mobile wallets, Credit cards and Debuts cards) and Region.
On the basis of geography, the market of Digital Finance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Services will boost the Digital Finance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End users, the sub-segment i.e. Individuals will boost the Digital Finance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry vertical, the sub-segment i.e. BFSI will boost the Digital Finance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased Usage of Mobile Banking among Consumers
Market Growth Drivers:
Exponential Growth in Technologies Such as Cloud Computing, Distributed Ledger Technologies, and Others and Change in Customer Preferences as the Digital Finance is Easy to Use and Personalized
Challenges:
Stiff Competition Among the Major Players
Restraints:
Increasing Security Concerns may Hamper the Market
Opportunities:
Government Initiatives for Promotion of Digital Financial Services and Increasing Awareness among Consumers
Key Target Audience
Government associations, Research organizations, Software vendors', Distributors, Financial service providers and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.