Rise in adoption of core banking technology and numerous benefits associated fuel the growth of the global core banking solutions market
PORTLAND, OREGON, UNITED STATES, September 1, 2021 /EINPresswire.com/ — Allied Market Research published a report, titled, “Core Banking Solutions Market by Component (Solution and Service), Deployment Model (On-Premise and Cloud), Enterprise Size (Large Enterprises and Small & Medium Enterprises [SMEs]), Type (Enterprise Customer Solutions, Loans, Deposits, and Others), and End User (Banks, Credit Unions & Community Banks, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global core banking solutions industry was estimated at $9.85 billion in 2019, and is anticipated to hit $28.78 billion by 2027, registering a CAGR of 14.6% from 2020 to 2027.
Drivers, restraints, and opportunities-
Rise in adoption of core banking technology and numerous benefits associated with core banking solutions fuel the growth of the global core banking solutions market. Also, growth in mergers & acquisitions among banks & financial institutions across various regions and untapped potential of emerging economies are expected to provide lucrative opportunities for core banking solution providers in the future.
Get Instant Access – Download Free Sample Report: https://www.alliedmarketresearch.com/request-sample/9091
Key benefits for stakeholders
The study provides in-depth analysis of the global core banking solutions market share along with current & future trends to illustrate the imminent investment pockets.
Information about key drivers, restrains, and opportunities and their impact analysis on the core banking solutions market size are provided in the report.
Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
An extensive analysis of the key segments of the industry helps to understand the global core banking solutions market trends.
The quantitative analysis of the global core banking solutions market from 2020 to 2027 is provided to determine the market potential.
The outbreak of the pandemic led to increase in use and adoption of digitalized financial services across the globe, which in turn has impacted the global core banking solutions market positively.
At the same time, the core banking solutions have also helped financial organizations maintain important business operations and sustain in the market during this adverse situation.
The solution segment to dominate by 2027-
Based on component, the solution segment contributed to nearly three-fourths of the global core banking solutions market revenue in 2019, and is anticipated to lead the trail by 2027. This is attributed to the fact that banks & financial institutions are implementing solutions with better technology capabilities in order to improve their business operations. The services segment, on the other hand, would manifest the fastest CAGR of 17.5% during the forecast period. This is because it helps in meeting customers demand to the fullest.
Enquire For More Details: https://www.alliedmarketresearch.com/purchase-enquiry/9091
The on-premises segment to maintain the dominant share-
Based on deployment model, the on-premises segment accounted for nearly three-fifths of the global core banking solutions market share in 2019, and is expected to rule the roost by the end of 2027. This is due to the fact that it provides full control over the whole infrastructure, including software & hardware. At the same time, the cloud segment would portray the fastest CAGR of 15.9% from 2020 to 2027, due to increase in need to reduce infrastructural investment.
North America garnered the major share in 2019-
Based on geography, North America held the highest share in 2019, generating nearly two-fifths of the global core banking solutions market, owing to huge presence of international investors in the province. They are adopting advance technologies and core banking solutions to heighten their services. This factor has boosted the market growth. Simultaneously, Asia-Pacific would showcase the fastest CAGR of 16.3% throughout the forecast period, due to surge in adoption of web-based & mobile-based business applications in the banking sector and increased focus toward R&D activities in the region.
Need Customized Report? Click Here: https://www.alliedmarketresearch.com/request-for-customization/9091
Key players in the industry-
Capital Banking Solutions
EdgeVerve Systems Limited
Tata Consultancy Services Limited
Temenos Headquarters SA.
Key market segments
By Deployment Model
By Enterprise Size
• Large Enterprises
• Small & Medium Enterprises (SMEs)
• Enterprise Customer Solutions
By End User
• Credit Unions & Community Banks
• North America
o Rest of Europe
o Rest of Asia-Pacific
o Latin America
o Middle East
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.