The Japan digital banking market is estimated to grow at a significant growth rate of around 8.6% over the forecast period to hit over $3.4 billion in 2025 from nearly $2.0 billion in 2018. Japan is one of the largest Asian economy. The advent of increasing application of the IoT, big data and AI aids in developing advance solution and finding new business opportunities that contribute to the growth of the market. At present, the digital transactions are less accepted by the public in the country as compared to other developed economies. Due to which, the government is focusing on promoting digital transactions in the country. 

As per the government’s ’Cashless Vision’ report, the cashless payment ratio was 20% in 2016 which is expected to increase to 40% by 2025. For this, the government has rolled out a nine-month points program in October 2019 to encourage small retailers to accept digital payment. Shoppers will get 5% of the purchase on performing digital transactions from small and medium-sized stores and 2% from major chains. As per the Economy, Trade and Industry Ministry of Japan, more than 577,000 stores had applied for participating in the government’s reward point program. Due to this, the digital banking market is expected to increase in the country during the forecast period. 

The Japan digital banking market is segmented on the basis of type and solution. Based on type, the market is classified into corporate banking, investment banking, and retail banking. Retail banking held the largest share in 2018 and is expected to maintain its dominance during the forecast period. Retail banking involves a wide range of services, including saving accounts, personal loans, mortgages, certificates of deposit (CDs) and investment and fund management. Rising demand for internet banking among individuals to manage their accounts and conduct financial transactions is primarily contributing to the growth of the segment. Based on solution, the market is classified into processing services, payment solutions, customer and channel management, and risk management.

Furthermore, the market is characterized by the presence of several players including Tata Consultancy Services Ltd., Microsoft Corp., Oracle Corp., Fiserv Inc., FIS Global and many others. These players adopt various strategies in order to compete in the global industry. Mergers and acquisitions, product launch, geographical expansion, and partnerships and collaborations are some of the strategies adopted by the players. 

Research Methodology

The market study of the Japan Digital Banking market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.

Secondary Sources Include:

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog

The report provides an in-depth analysis of the market size and growth opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.

Market Segmentation:

1. Japan Digital Banking Market Research and Analysis by Type
2. Japan Digital Banking Market Research and Analysis by Solution

The Report covers:

• Comprehensive research methodology of the Japan Digital Banking market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Japan Digital Banking market.
• Insights about market determinants which are stimulating the Japan Digital Banking market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.