Global Digital Account Opening Market Size study & Forecast, by Type of Account, Deployment Model, Type of Bank and Enterprise Size and Regional Analysis, 2022-2029

Description

List of Tables

Global Digital Account Opening Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Digital Account Opening is defined as the process of opening a bank account virtually without the need to physically go to the branch premises. Through digital banking solutions, virtual verification of documents can be performed in a very quick and accurate manner. Banking and financial institutions are coming up with digital account opening services due to various advantages such as high accuracy & improved efficiency. The increasing expansion of the BFSI sector and growing penetration of digital banking services as well as strategic initiatives from leading market players are key factors accelerating the market growth.

According to Statista - as of 2022, the revenue in the global Banking, Finance & Insurances segment is estimated at USD 3.72tn, and the market is projected to grow at an annual growth rate of 2.47% from 2022 to 2025 to reach USD 4.0 trillion by end of 20205. Also, increasing investment in digital banking services coupled with the rising penetration of smartphones in emerging markets would create a lucrative growth prospectus for the market over the market period. However, rising concern over data security impedes market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Digital Account Opening Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region owing to the growing penetration of digital banking services as well as the presence of leading financial institutions in the region. Whereas the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising penetration of smartphones as well as the growing number of favorable initiatives from government authorities to promote financial inclusion in the region.

Major market players included in this report are:

Appway AG

CREALOGIX AG

EdgeVerve Systems Limited

Fiserv Inc.

Oracle Corporation

SAP SE

Sopra Steria

Tata Consultancy Services (TCS) Ltd

Temenos Headquarters SA

Worldline SA

Recent Developments in the Market:

In May 2021, SBI announced a partnership with Hyper Verge to for an AI-powered Online Account Opening solution. Through HyperVerge's Video Banking solution, SBI would be able to provide digital banking services to its customers.
In June 2022, Indian Bank launched a new digital broking solution named 'E- Broking'. E- Broking is an instant and paperless demat & trading account opening service. Moreover, this service can be accessed through Banks mobile application.

Global Digital Account Opening Market Report Scope:

Historical Data: 2019-2020-2021

Base Year for Estimation: 2021

Forecast period: 2022-2029

Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends

Segments Covered Type of Account, Deployment Model, Type of Bank, Enterprise Size, Region

Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

Customization Scope Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type of Account

Current Accounts

Savings Banking Account

Recurring Deposits

Fixed Deposits

By Deployment Model

On-Premises

Cloud

By Type of Bank

Corporate Banking

Retail Banking

By Enterprise Size

Large Enterprise

Small & Medium Enterprises

By Region:

North America

U.S.

Canada

Europe

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Chapter 1. Executive Summary

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
- 1.2.1. Digital Account Opening Market, by Region, 2019-2029 (USD Billion)
- 1.2.2. Digital Account Opening Market, by Type of Account, 2019-2029 (USD Billion)
- 1.2.3. Digital Account Opening Market, by Deployment Model, 2019-2029 (USD Billion)
- 1.2.4. Digital Account Opening Market, by Type of Bank, 2019-2029 (USD Billion)
- 1.2.5. Digital Account Opening Market, by Enterprise Size, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

Chapter 2. Global Digital Account Opening Market Definition and Scope

2.1. Objective of the Study
2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

Chapter 3. Global Digital Account Opening Market Dynamics

3.1. Digital Account Opening Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
  - 3.1.1.1. Increasing expansion of the BFSI sector.
  - 3.1.1.2. Growing penetration of digital banking services.
  - 3.1.1.3. Strategic initiatives from leading market players.
- 3.1.2. Market Challenges
  - 3.1.2.1. Concern associated with data breaches.
- 3.1.3. Market Opportunities
  - 3.1.3.1. Increasing investment in digital banking services.
  - 3.1.3.2. Rising penetration of smartphones in emerging markets.

Chapter 4. Global Digital Account Opening Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
4.4. Investment Adoption Model
4.5. Analyst Recommendation & Conclusion
4.6. Top investment opportunity
4.7. Top winning strategies

Chapter 5. Risk Assessment: COVID-19 Impact

5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario

Chapter 6. Global Digital Account Opening Market, by Type of Account

6.1. Market Snapshot
6.2. Global Digital Account Opening Market by Type of Account, Performance - Potential Analysis
6.3. Global Digital Account Opening Market Estimates & Forecasts by Type of Account 2019-2029 (USD Billion)
6.4. Digital Account Opening Market, Sub Segment Analysis
- 6.4.1. Current Accounts,
- 6.4.2. Savings Banking Account
- 6.4.3. Recurring Deposits
- 6.4.4. Fixed Deposits

Chapter 7. Global Digital Account Opening Market, by Deployment Model

7.1. Market Snapshot
7.2. Global Digital Account Opening Market by Deployment Model, Performance - Potential Analysis
7.3. Global Digital Account Opening Market Estimates & Forecasts by Deployment Model 2019-2029 (USD Billion)
7.4. Digital Account Opening Market, Sub Segment Analysis
- 7.4.1. On-premises
- 7.4.2. Cloud

Chapter 8. Global Digital Account Opening Market, by Type of Bank

8.1. Market Snapshot
8.2. Global Digital Account Opening Market by Type of Bank, Performance - Potential Analysis
8.3. Global Digital Account Opening Market Estimates & Forecasts by Type of Bank 2019-2029 (USD Billion)
8.4. Digital Account Opening Market, Sub Segment Analysis
- 8.4.1. Corporate Banking
- 8.4.2. Retail Banking

Chapter 9. Global Digital Account Opening Market, by Enterprise Size

9.1. Market Snapshot
9.2. Global Digital Account Opening Market by Enterprise Size, Performance - Potential Analysis
9.3. Global Digital Account Opening Market Estimates & Forecasts by Enterprise Size 2019-2029 (USD Billion)
9.4. Digital Account Opening Market, Sub Segment Analysis
- 9.4.1. Large Enterprise
- 9.4.2. Small and Medium Enterprises

Chapter 10. Global Digital Account Opening Market, Regional Analysis

10.1. Digital Account Opening Market, Regional Market Snapshot
10.2. North America Digital Account Opening Market
- 10.2.1. U.S. Digital Account Opening Market
  - 10.2.1.1. Type of Account breakdown estimates & forecasts, 2019-2029
  - 10.2.1.2. Deployment Model breakdown estimates & forecasts, 2019-2029
  - 10.2.1.3. Type of Bank breakdown estimates & forecasts, 2019-2029
  - 10.2.1.4. Enterprise Size breakdown estimates & forecasts, 2019-2029
- 10.2.2. Canada Digital Account Opening Market
10.3. Europe Digital Account Opening Market Snapshot
- 10.3.1. U.K. Digital Account Opening Market
- 10.3.2. Germany Digital Account Opening Market
- 10.3.3. France Digital Account Opening Market
- 10.3.4. Spain Digital Account Opening Market
- 10.3.5. Italy Digital Account Opening Market
- 10.3.6. Rest of Europe Digital Account Opening Market
10.4. Asia-Pacific Digital Account Opening Market Snapshot
- 10.4.1. China Digital Account Opening Market
- 10.4.2. India Digital Account Opening Market
- 10.4.3. Japan Digital Account Opening Market
- 10.4.4. Australia Digital Account Opening Market
- 10.4.5. South Korea Digital Account Opening Market
- 10.4.6. Rest of Asia Pacific Digital Account Opening Market
10.5. Latin America Digital Account Opening Market Snapshot
- 10.5.1. Brazil Digital Account Opening Market
- 10.5.2. Mexico Digital Account Opening Market
10.6. Rest of The World Digital Account Opening Market

Chapter 11. Competitive Intelligence

11.1. Top Market Strategies
11.2. Company Profiles
- 11.2.1. Appway AG
  - 11.2.1.1. Key Information
  - 11.2.1.2. Overview
  - 11.2.1.3. Financial (Subject to Data Availability)
  - 11.2.1.4. Product Summary
  - 11.2.1.5. Recent Developments
- 11.2.2. CREALOGIX AG
- 11.2.3. EdgeVerve Systems Limited
- 11.2.4. Fiserv Inc.
- 11.2.5. Oracle Corporation
- 11.2.6. SAP SE
- 11.2.7. Sopra Steria
- 11.2.8. Tata Consultancy Services (TCS) Ltd
- 11.2.9. Temenos Headquarters SA
- 11.2.10. Worldline SA

Chapter 12. Research Process

12.1. Research Process
- 12.1.1. Data Mining
- 12.1.2. Analysis
- 12.1.3. Market Estimation
- 12.1.4. Validation
- 12.1.5. Publishing
12.2. Research Attributes
12.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Digital Account Opening Market, report scope
TABLE 2. Global Digital Account Opening Market estimates & forecasts by Region 2019-2029 (USD Billion)
TABLE 3. Global Digital Account Opening Market estimates & forecasts by Type of Account 2019-2029 (USD Billion)
TABLE 4. Global Digital Account Opening Market estimates & forecasts by Deployment Model 2019-2029 (USD Billion)
TABLE 5. Global Digital Account Opening Market estimates & forecasts by Type of Bank 2019-2029 (USD Billion)
TABLE 6. Global Digital Account Opening Market estimates & forecasts by Enterprise Size 2019-2029 (USD Billion)
TABLE 7. Global Digital Account Opening Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 8. Global Digital Account Opening Market by region, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 9. Global Digital Account Opening Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 10. Global Digital Account Opening Market by region, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 11. Global Digital Account Opening Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 12. Global Digital Account Opening Market by region, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 13. Global Digital Account Opening Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 14. Global Digital Account Opening Market by region, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 15. Global Digital Account Opening Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 16. Global Digital Account Opening Market by region, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 17. U.S. Digital Account Opening Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 18. U.S. Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 19. U.S. Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 20. Canada Digital Account Opening Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 21. Canada Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 22. Canada Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 23. UK Digital Account Opening Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 24. UK Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 25. UK Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 26. Germany Digital Account Opening Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 27. Germany Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 28. Germany Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 29. France Digital Account Opening Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 30. France Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 31. France Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 32. Italy Digital Account Opening Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 33. Italy Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 34. Italy Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 35. Spain Digital Account Opening Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 36. Spain Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 37. Spain Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 38. RoE Digital Account Opening Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 39. RoE Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 40. RoE Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 41. China Digital Account Opening Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 42. China Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 43. China Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 44. India Digital Account Opening Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 45. India Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 46. India Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 47. Japan Digital Account Opening Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 48. Japan Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 49. Japan Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 50. South Korea Digital Account Opening Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 51. South Korea Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 52. South Korea Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 53. Australia Digital Account Opening Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 54. Australia Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 55. Australia Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 56. RoAPAC Digital Account Opening Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 57. RoAPAC Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 58. RoAPAC Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 59. Brazil Digital Account Opening Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 60. Brazil Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 61. Brazil Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 62. Mexico Digital Account Opening Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 63. Mexico Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 64. Mexico Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 65. RoLA Digital Account Opening Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 66. RoLA Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 67. RoLA Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 68. Row Digital Account Opening Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 69. Row Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 70. Row Digital Account Opening Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 71. List of secondary sources, used in the study of global Digital Account Opening Market
TABLE 72. List of primary sources, used in the study of global Digital Account Opening Market
TABLE 73. Years considered for the study
TABLE 74. Exchange rates considered

List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

List of figures

FIG 1. Global Digital Account Opening Market, research methodology
FIG 2. Global Digital Account Opening Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Digital Account Opening Market, key trends 2021
FIG 5. Global Digital Account Opening Market, growth prospects 2022-2029
FIG 6. Global Digital Account Opening Market, porters 5 force model
FIG 7. Global Digital Account Opening Market, pest analysis
FIG 8. Global Digital Account Opening Market, value chain analysis
FIG 9. Global Digital Account Opening Market by segment, 2019 & 2029 (USD Billion)
FIG 10. Global Digital Account Opening Market by segment, 2019 & 2029 (USD Billion)
FIG 11. Global Digital Account Opening Market by segment, 2019 & 2029 (USD Billion)
FIG 12. Global Digital Account Opening Market by segment, 2019 & 2029 (USD Billion)
FIG 13. Global Digital Account Opening Market by segment, 2019 & 2029 (USD Billion)
FIG 14. Global Digital Account Opening Market, regional snapshot 2019 & 2029
FIG 15. North America Digital Account Opening Market 2019 & 2029 (USD Billion)
FIG 16. Europe Digital Account Opening Market 2019 & 2029 (USD Billion)
FIG 17. Asia pacific Digital Account Opening Market 2019 & 2029 (USD Billion)
FIG 18. Latin America Digital Account Opening Market 2019 & 2029 (USD Billion)
FIG 19. Global Digital Account Opening Market, company Market share analysis (2021)