Banking market seen reaching $41.39 billion by 2030

The Business Research Company says the global banking market will grow from $31.52 billion in 2026 to $41.39 billion by 2030, driven by cashless payments, digital lending and real-time payment systems. North America led the market in 2025, while Asia-Pacific is expected to post the fastest growth.

Why it matters: - The banking market is expanding as consumers and businesses move away from cash and toward digital financial services. - The shift is reshaping how banks handle payments, lending, risk assessment and cross-border financial activity. - Faster adoption of digital tools could improve financial inclusion and market access in regions with weaker branch networks.

What happened: - The Business Research Company said the banking market rose from $29.51 billion in 2025 to an expected $31.52 billion in 2026. - The firm projects the market will reach $41.39 billion by 2030, implying a 7.0% CAGR through the forecast period. - The outlook was published Oct. 2, 2026, from London. - The report identifies North America as the largest regional market in 2025. - The report expects Asia-Pacific to be the fastest-growing region during the forecast period.

The details: - The market’s recent growth was tied to branch-based banking, manual credit evaluation, slower digital payment adoption, limited rural financial inclusion and a fragmented banking infrastructure. - Future growth is expected to come from a cashless economy, digital lending platforms, data-driven risk assessment, real-time payment systems and better global financial interoperability. - Banking is defined in the report as the financial intermediary function that accepts deposits, extends credit and provides payment services. - The report says banking helps allocate capital by connecting savers with borrowers while managing liquidity, risk and financial stability. - The report highlights digital and cashless payments as a major growth driver because they make transactions faster and more convenient. - Banks are supporting that shift with mobile apps, cards and real-time payment networks. - UK Finance reported in July 2024 that contactless transactions in the UK reached 18.3 billion in 2023, up 7% from 17.0 billion in 2022. - Contactless payments accounted for 38% of all UK transactions in 2023. - The report also covers South East Asia, Western Europe, Eastern Europe, South America, the Middle East and Africa. - The company says its 2026 reports include market attractiveness scoring, TAM analysis, company scoring matrix graphics and tables, Excel-based forecasting dashboards, market hotspot infographics and updated trend analysis. - A free sample is available at sample request. - The full report is available at the banking market report. - The company also listed contact details for Saumya Sahay and multiple regional phone numbers, plus email and social media links.

Between the lines: - The forecast points to a banking industry that is becoming more software-led and less dependent on physical branches. - The emphasis on digital lending, real-time payments and interoperability suggests competition will increasingly hinge on speed, data quality and platform connectivity. - The contactless-payment data from the UK is a sign that consumer behavior is already supporting the market shift the report describes.

What's next: - Banks are likely to keep investing in digital payment rails, lending automation and risk analytics as cashless transactions grow. - Regional growth appears set to remain uneven, with North America still large and Asia-Pacific likely to add the most new demand. - The report’s broader regional coverage suggests the next battleground for growth will include emerging markets with lower financial inclusion and weaker banking infrastructure.