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How big is the digital banking industry and how it will look like in the next 5 years?

The global digital banking market size is projected to grow at a CAGR of 8.9% by generating a revenue of $1,610.0 billion by 2027. The global digital banking market has seen major growth, owing to increasing utilization of mobile phones, tablets, and online banking platforms. In addition, due to constantly rising internet penetration and digitally literate population is expected to drive the growth of the global digital banking market. A large number of players are increasing their business around the globe, due to enhanced effective operations, the increased customer base and product portfolios, and extended geographical area. This is projected to strengthen the demand for the digital banking during the forecast period. The cost and the user friendliness of digital banking and increased use of electronic devices and easy adoption to the internet facilities are the digital banking market drivers in the estimated period. The technical development in the integration of blockchain is an a