Global Digital Banking Market Size, Forecast, and Trend Highlights Over 2025-2037
Digital Banking Market size was valued at USD 120.6 billion in 2024 and is projected to reach USD 360.7 billion by the end of 2037, rising at a CAGR of 10.8% during the forecast period, i.e., 2025-2037. In 2025, the industry size of digital banking is estimated at USD 131.9 billion.
The market’s expansion is favorably impacted by advancements in mobile banking along with the rising consumer demand for personalized banking experiences. The digital banking market operates within a supply chain that is reliant on hardware and software platforms. In 2023, the trade of ICT goods worldwide reached over USD 2.5 trillion signifying a steady flow of components essential for the digital banking sector.
A key indicator of the sector's growth is the inflow of investments. In 2023, the global FinTech R&D surpassed USD 35 billion, highlighting the scope of development of digital banking platforms to significantly improve the end user experience. Moreover, the economic indices of the market highlight an increase in the Producer Price Index (PPI) and the Consumer Price Index (CPI). The table below highlights the changes in PPI and CPI from 2023 to 2024:
|
Year of Analysis |
Index Type |
Change (%) |
Affected Components |
Key Cause of Change |
|
2023–2024 |
CPI (Consumer Price Index) |
4.7% |
Subscription fees, digital wallet usage charges, cross-border remittance costs |
Increased consumer adoption of digital channels and pricing adjustments in cross-border services |
|
2023–2024 |
PPI (Producer Price Index) |
4.4% |
Cloud infrastructure, AI & data analytics platforms, cybersecurity compliance tools |
Rising fintech infrastructure costs, AI implementation in back-end operations |
In terms of the market’s future outlook by the end of 2037, there is expected to be paradigm shift driven by changes in the regulatory ecosystem. Central Bank Digital Currencies (CBDCs) are expected to be a prominent factor in the financial ecosystem whereas new opportunities are set to emergence with the growing adoption of open banking frameworks.
