A lead analyst at AMR highlighted that the banking-as-a-service market in Asia-Pacific is anticipated to grow at the fastest CAGR during the forecast period.
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Allied Market Research published a research report on the banking-as-a-service market. The findings of the report states that the global market for banking-as-a-service generated $2.41 billion in 2020, and is projected to reach $11.34 billion by 2030, growing at a CAGR of 17.1% from 2021 to 2030. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenario for market players, investors, shareholders, and new entrants.
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The report provides detailed insights on drivers, restrains, and opportunities to help the market players in devising several growth strategies. Significant surge in the demand for digital transformation technology in banks, persistent improvements in fund transaction services across the globe, and rapid adoption of innovative technologies in banks are expected to drive the growth of the global banking-as-a-service market. On the other hand, increase in cyber attacks around the world is expected to hinder the growth to some extent. However, increase in investment for banking-as-a-service infrastructure to improve business values is predicted to create ample opportunities for the industry.
“The cloud-based bank-as-a-service is expected to experience significant growth in the coming years, owing to rapid adoption of cloud-based technology among several banks and financial institutions to reduce the maintenance cost and to upsurge their revenue opportunities as well as to provide enhanced customer services,” says Pramod Borasi, Research Analyst at Allied Market Research.
Scope of the Report: –
| Report Attribute | Details |
| Revenue forecast in 2030 | $11.34 billion |
| Growth rate | CAGR of 17.1% from 2021 to 2030 |
| Forecast period | 2021 – 2030 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Regional scope | North America, Europe, Asia Pacific, Latin America, MEA |
| Country scope | U.S., Canada, Germany, U.K., France, Italy, Spain, Japan, China, India, South Korea, Australia, Brazil, Mexico, South Africa, Saudi Arabia |
| Key companies profiled | Bankable, BBVA, ClearBank, Green Dot., MatchMove Pay Pte. Ltd, Pi1, SolarisBank, Starling Bank, Square Inc., and Treasury Prime Access Table PDF |
The report provides a detailed scenario of the impact of the Covid-19 pandemic on the banking-as-a-service market globally. The outbreak of COVID-19 has had a positive impact on the growth of the global banking-as-a-service market, owing to the presence of lockdowns in various countries across the globe. Lockdowns resulted in the increase in use of digital transformation technology in banks to streamline financial services, which appreciably increased the demand for banking-as-a-service. In addition, rapid growth in the internet penetration during the pandemic further increased the demand for banking-as-a-service.
The report offers a detailed segmentation on the global banking-as-a-service market based on component, type, enterprise size, end-user and region.
Based on component, the platform segment held the largest market share in 2020, garnering more than two-thirds of the global market. The services segment, on the other hand, is predicted to cite the fastest CAGR of 19.5% during the forecast period.
Based on service type, the professional services segment held the majority market share in 2020, holding nearly three-fifths of the global market. The manages services solution segment, on the other hand, is expected to exhibit the fastest CAGR of 21.9% during the forecast period.
Based on region, the market across Europe held the lion’s share in 2020, garnering more than one-third of the global market. The Asia-Pacific region, on the other hand, is predicted to cite the fastest CAGR of 20.2% during the forecast period.
The key players analyzed in the global banking-as-a-service market report include Bankable, BBVA, ClearBank, Green Dot., MatchMove Pay Pte. Ltd, Pi1, SolarisBank, Starling Bank, Square Inc., and Treasury Prime.
Key players in the Industry
- Bnkbl Ltd
- Banco Bilbao Vizcaya Argentaria
- ClearBank Ltd.
- Green Dot.
- MatchMove Pay Pte Ltd
- Project Imagine Ltd
- Solarisbank AG.
- Starling Bank
- Square, Inc.
- Treasury Prime
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Banking-as-a-service market analysis from 2021 to 2031 to identify the prevailing Banking-as-a-service market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the Banking-as-a-service market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global Banking-as-a-service market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
- By Component
- Platform
- Service
- Professional Service
- Managed Service
- By Type
- API-based Bank-as-a-service
- Cloud-based Bank-as-a-service
- By Enterprise Size
- Large Enterprise
- Small & Medium Enterprise
- By End User
- Banks
- FinTech Corporations/NBFC
- Others
- By Region
- North America
- U.S. Banking-as-a-service Market
- Canada Banking-as-a-service Market
- Mexico Banking-as-a-service Market
- Europe
- Germany Banking-as-a-service Market
- France Banking-as-a-service Market
- U.K. Banking-as-a-service Market
- Italy Banking-as-a-service Market
- Spain Banking-as-a-service Market
- Rest of Europe
- Asia-Pacific
- Japan Banking-as-a-service Market
- China Banking-as-a-service Market
- Australia Banking-as-a-service Market
- India Banking-as-a-service Market
- South Korea Banking-as-a-service Market
- Rest Of Asia Pacific
- LAMEA
- Brazil Banking-as-a-service Market
- Saudi Arabia Banking-as-a-service Market
- South Africa Banking-as-a-service Market
- Rest of LAMEA
- North America
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