Abstract
Summary
Digital renminbi (also abbreviated as digital RMB and e-CNY), or Digital Currency Electronic Payment (DCEP), is a central bank digital currency issued by China's central bank, the People's Bank of China. It is the first digital currency to be issued by a major economy, undergoing public testing as of April 2021. The digital RMB is legal tender and has equivalent value with other forms of CNY, such as bills and coins.
LPI (LP Information)' newest research report, the “Digital RMB Industry Forecast” looks at past sales and reviews total world Digital RMB sales in 2022, providing a comprehensive analysis by region and market sector of projected Digital RMB sales for 2023 through 2029. With Digital RMB sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Digital RMB industry.
This Insight Report provides a comprehensive analysis of the global Digital RMB landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Digital RMB portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Digital RMB market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Digital RMB and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Digital RMB.
The global Digital RMB market size is projected to grow from US$ million in 2022 to US$ million in 2029; it is expected to grow at a CAGR of % from 2023 to 2029.
United States market for Digital RMB is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.
China market for Digital RMB is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.
Europe market for Digital RMB is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.
Global key Digital RMB players cover ICBC, China Construction Bank, Agricultural Bank of China, Bank of China, China Bank of Communications, China Merchants Bank, Shanghai Pudong Development Bank, Industrial Bank and China Postal Savings Bank, etc. In terms of revenue, the global two largest companies occupied for a share nearly % in 2022.
This report presents a comprehensive overview, market shares, and growth opportunities of Digital RMB market by product type, application, key players and key regions and countries.
Market Segmentation:
Segmentation by type
Payment
Tranfer
Segmentation by application
Catering Services
Living Expenses
Shopping Consumption
Traffic Travel
Government Service
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
ICBC
China Construction Bank
Agricultural Bank of China
Bank of China
China Bank of Communications
China Merchants Bank
Shanghai Pudong Development Bank
Industrial Bank
China Postal Savings Bank
China Minsheng Bank
Bank of Ningbo
Ping An Bank
Shanghai Bank
Bank of Jiangsu
LPI (LP Information)' newest research report, the “Digital RMB Industry Forecast” looks at past sales and reviews total world Digital RMB sales in 2022, providing a comprehensive analysis by region and market sector of projected Digital RMB sales for 2023 through 2029. With Digital RMB sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Digital RMB industry.
This Insight Report provides a comprehensive analysis of the global Digital RMB landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Digital RMB portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Digital RMB market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Digital RMB and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Digital RMB.
The global Digital RMB market size is projected to grow from US$ million in 2022 to US$ million in 2029; it is expected to grow at a CAGR of % from 2023 to 2029.
United States market for Digital RMB is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.
China market for Digital RMB is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.
Europe market for Digital RMB is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.
Global key Digital RMB players cover ICBC, China Construction Bank, Agricultural Bank of China, Bank of China, China Bank of Communications, China Merchants Bank, Shanghai Pudong Development Bank, Industrial Bank and China Postal Savings Bank, etc. In terms of revenue, the global two largest companies occupied for a share nearly % in 2022.
This report presents a comprehensive overview, market shares, and growth opportunities of Digital RMB market by product type, application, key players and key regions and countries.
Market Segmentation:
Segmentation by type
Payment
Tranfer
Segmentation by application
Catering Services
Living Expenses
Shopping Consumption
Traffic Travel
Government Service
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
ICBC
China Construction Bank
Agricultural Bank of China
Bank of China
China Bank of Communications
China Merchants Bank
Shanghai Pudong Development Bank
Industrial Bank
China Postal Savings Bank
China Minsheng Bank
Bank of Ningbo
Ping An Bank
Shanghai Bank
Bank of Jiangsu
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Digital RMB Market Size 2018-2029
2.1.2 Digital RMB Market Size CAGR by Region 2018 VS 2022 VS 2029
2.2 Digital RMB Segment by Type
2.2.1 Payment
2.2.2 Tranfer
2.3 Digital RMB Market Size by Type
2.3.1 Digital RMB Market Size CAGR by Type (2018 VS 2022 VS 2029)
2.3.2 Global Digital RMB Market Size Market Share by Type (2018-2023)
2.4 Digital RMB Segment by Application
2.4.1 Catering Services
2.4.2 Living Expenses
2.4.3 Shopping Consumption
2.4.4 Traffic Travel
2.4.5 Government Service
2.4.6 Others
2.5 Digital RMB Market Size by Application
2.5.1 Digital RMB Market Size CAGR by Application (2018 VS 2022 VS 2029)
2.5.2 Global Digital RMB Market Size Market Share by Application (2018-2023)
3 Digital RMB Market Size by Player
3.1 Digital RMB Market Size Market Share by Players
3.1.1 Global Digital RMB Revenue by Players (2018-2023)
3.1.2 Global Digital RMB Revenue Market Share by Players (2018-2023)
3.2 Global Digital RMB Key Players Head office and Products Offered
3.3 Market Concentration Rate Analysis
3.3.1 Competition Landscape Analysis
3.3.2 Concentration Ratio (CR3, CR5 and CR10) & (2021-2023)
3.4 New Products and Potential Entrants
3.5 Mergers & Acquisitions, Expansion
4 Digital RMB by Regions
4.1 Digital RMB Market Size by Regions (2018-2023)
4.2 Americas Digital RMB Market Size Growth (2018-2023)
4.3 APAC Digital RMB Market Size Growth (2018-2023)
4.4 Europe Digital RMB Market Size Growth (2018-2023)
4.5 Middle East & Africa Digital RMB Market Size Growth (2018-2023)
5 Americas
5.1 Americas Digital RMB Market Size by Country (2018-2023)
5.2 Americas Digital RMB Market Size by Type (2018-2023)
5.3 Americas Digital RMB Market Size by Application (2018-2023)
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Brazil
6 APAC
6.1 APAC Digital RMB Market Size by Region (2018-2023)
6.2 APAC Digital RMB Market Size by Type (2018-2023)
6.3 APAC Digital RMB Market Size by Application (2018-2023)
6.4 China
6.5 Japan
6.6 Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
7 Europe
7.1 Europe Digital RMB by Country (2018-2023)
7.2 Europe Digital RMB Market Size by Type (2018-2023)
7.3 Europe Digital RMB Market Size by Application (2018-2023)
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia
8 Middle East & Africa
8.1 Middle East & Africa Digital RMB by Region (2018-2023)
8.2 Middle East & Africa Digital RMB Market Size by Type (2018-2023)
8.3 Middle East & Africa Digital RMB Market Size by Application (2018-2023)
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries
9 Market Drivers, Challenges and Trends
9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends
10 Global Digital RMB Market Forecast
10.1 Global Digital RMB Forecast by Regions (2024-2029)
10.1.1 Global Digital RMB Forecast by Regions (2024-2029)
10.1.2 Americas Digital RMB Forecast
10.1.3 APAC Digital RMB Forecast
10.1.4 Europe Digital RMB Forecast
10.1.5 Middle East & Africa Digital RMB Forecast
10.2 Americas Digital RMB Forecast by Country (2024-2029)
10.2.1 United States Digital RMB Market Forecast
10.2.2 Canada Digital RMB Market Forecast
10.2.3 Mexico Digital RMB Market Forecast
10.2.4 Brazil Digital RMB Market Forecast
10.3 APAC Digital RMB Forecast by Region (2024-2029)
10.3.1 China Digital RMB Market Forecast
10.3.2 Japan Digital RMB Market Forecast
10.3.3 Korea Digital RMB Market Forecast
10.3.4 Southeast Asia Digital RMB Market Forecast
10.3.5 India Digital RMB Market Forecast
10.3.6 Australia Digital RMB Market Forecast
10.4 Europe Digital RMB Forecast by Country (2024-2029)
10.4.1 Germany Digital RMB Market Forecast
10.4.2 France Digital RMB Market Forecast
10.4.3 UK Digital RMB Market Forecast
10.4.4 Italy Digital RMB Market Forecast
10.4.5 Russia Digital RMB Market Forecast
10.5 Middle East & Africa Digital RMB Forecast by Region (2024-2029)
10.5.1 Egypt Digital RMB Market Forecast
10.5.2 South Africa Digital RMB Market Forecast
10.5.3 Israel Digital RMB Market Forecast
10.5.4 Turkey Digital RMB Market Forecast
10.5.5 GCC Countries Digital RMB Market Forecast
10.6 Global Digital RMB Forecast by Type (2024-2029)
10.7 Global Digital RMB Forecast by Application (2024-2029)
11 Key Players Analysis
11.1 ICBC
11.1.1 ICBC Company Information
11.1.2 ICBC Digital RMB Product Offered
11.1.3 ICBC Digital RMB Revenue, Gross Margin and Market Share (2018-2023)
11.1.4 ICBC Main Business Overview
11.1.5 ICBC Latest Developments
11.2 China Construction Bank
11.2.1 China Construction Bank Company Information
11.2.2 China Construction Bank Digital RMB Product Offered
11.2.3 China Construction Bank Digital RMB Revenue, Gross Margin and Market Share (2018-2023)
11.2.4 China Construction Bank Main Business Overview
11.2.5 China Construction Bank Latest Developments
11.3 Agricultural Bank of China
11.3.1 Agricultural Bank of China Company Information
11.3.2 Agricultural Bank of China Digital RMB Product Offered
11.3.3 Agricultural Bank of China Digital RMB Revenue, Gross Margin and Market Share (2018-2023)
11.3.4 Agricultural Bank of China Main Business Overview
11.3.5 Agricultural Bank of China Latest Developments
11.4 Bank of China
11.4.1 Bank of China Company Information
11.4.2 Bank of China Digital RMB Product Offered
11.4.3 Bank of China Digital RMB Revenue, Gross Margin and Market Share (2018-2023)
11.4.4 Bank of China Main Business Overview
11.4.5 Bank of China Latest Developments
11.5 China Bank of Communications
11.5.1 China Bank of Communications Company Information
11.5.2 China Bank of Communications Digital RMB Product Offered
11.5.3 China Bank of Communications Digital RMB Revenue, Gross Margin and Market Share (2018-2023)
11.5.4 China Bank of Communications Main Business Overview
11.5.5 China Bank of Communications Latest Developments
11.6 China Merchants Bank
11.6.1 China Merchants Bank Company Information
11.6.2 China Merchants Bank Digital RMB Product Offered
11.6.3 China Merchants Bank Digital RMB Revenue, Gross Margin and Market Share (2018-2023)
11.6.4 China Merchants Bank Main Business Overview
11.6.5 China Merchants Bank Latest Developments
11.7 Shanghai Pudong Development Bank
11.7.1 Shanghai Pudong Development Bank Company Information
11.7.2 Shanghai Pudong Development Bank Digital RMB Product Offered
11.7.3 Shanghai Pudong Development Bank Digital RMB Revenue, Gross Margin and Market Share (2018-2023)
11.7.4 Shanghai Pudong Development Bank Main Business Overview
11.7.5 Shanghai Pudong Development Bank Latest Developments
11.8 Industrial Bank
11.8.1 Industrial Bank Company Information
11.8.2 Industrial Bank Digital RMB Product Offered
11.8.3 Industrial Bank Digital RMB Revenue, Gross Margin and Market Share (2018-2023)
11.8.4 Industrial Bank Main Business Overview
11.8.5 Industrial Bank Latest Developments
11.9 China Postal Savings Bank
11.9.1 China Postal Savings Bank Company Information
11.9.2 China Postal Savings Bank Digital RMB Product Offered
11.9.3 China Postal Savings Bank Digital RMB Revenue, Gross Margin and Market Share (2018-2023)
11.9.4 China Postal Savings Bank Main Business Overview
11.9.5 China Postal Savings Bank Latest Developments
11.10 China Minsheng Bank
11.10.1 China Minsheng Bank Company Information
11.10.2 China Minsheng Bank Digital RMB Product Offered
11.10.3 China Minsheng Bank Digital RMB Revenue, Gross Margin and Market Share (2018-2023)
11.10.4 China Minsheng Bank Main Business Overview
11.10.5 China Minsheng Bank Latest Developments
11.11 Bank of Ningbo
11.11.1 Bank of Ningbo Company Information
11.11.2 Bank of Ningbo Digital RMB Product Offered
11.11.3 Bank of Ningbo Digital RMB Revenue, Gross Margin and Market Share (2018-2023)
11.11.4 Bank of Ningbo Main Business Overview
11.11.5 Bank of Ningbo Latest Developments
11.12 Ping An Bank
11.12.1 Ping An Bank Company Information
11.12.2 Ping An Bank Digital RMB Product Offered
11.12.3 Ping An Bank Digital RMB Revenue, Gross Margin and Market Share (2018-2023)
11.12.4 Ping An Bank Main Business Overview
11.12.5 Ping An Bank Latest Developments
11.13 Shanghai Bank
11.13.1 Shanghai Bank Company Information
11.13.2 Shanghai Bank Digital RMB Product Offered
11.13.3 Shanghai Bank Digital RMB Revenue, Gross Margin and Market Share (2018-2023)
11.13.4 Shanghai Bank Main Business Overview
11.13.5 Shanghai Bank Latest Developments
11.14 Bank of Jiangsu
11.14.1 Bank of Jiangsu Company Information
11.14.2 Bank of Jiangsu Digital RMB Product Offered
11.14.3 Bank of Jiangsu Digital RMB Revenue, Gross Margin and Market Share (2018-2023)
11.14.4 Bank of Jiangsu Main Business Overview
11.14.5 Bank of Jiangsu Latest Developments
12 Research Findings and Conclusion