Global Core Banking Software Market Report By Solution (Deposits, Loans, Enterprise Customer Solutions, Others), By Service (Professional Service, Managed Service), By Deployment (Cloud, On-Premise), By End-Use (Banks, Financial Institutions, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2020-2027

ID:VMR11213973
December 2020
Report Formats:

Global Core Banking Software Market Overview

The key driver impacting the core banking software market is the growth in deployment of core banking solutions at banks that allow customers to perform numerous banking activities, such as loans, money transactions, and easy access to their accounts. The high customer adoption leads to mounting interest and increased investment in technology-driven innovation related to financial services. For instance, in 2018, total investment activity in Financial technology (fintech) reached $120 billion, across about 2,600 deals. Since 2014, there have been over 11,000 fintech investments totaling about $380 billion. Moreover, global technology firms are rising their incursion into financial services. Jointly, the total volume of new credit offered by fintech and “big tech” in 2017 surpasses $500 billion, a tenfold boost from 2014.

According to Value Market Research, the global core banking software market was valued at around USD 16.38 billion in 2019 and is estimated to grow at a CAGR of about 7.5% during the forecast period of 2020-2026.

The Core banking software is also adopted by multiple banks to enhance their risk management capabilities for an easy flow of banking activities is also estimated to be an important determinant adding growth to the market. In addition to this, the increasing customer demand for advanced banking technologies is also predictable to enhance market demand in the forecast period. For instance, As per the OECD report 2020, around 85% of millennials in the United States use mobile banking, and it is expected that the share will be higher for the generation born after 1996. Moreover, mobile payments for consumer goods is prevalent in China and now constitute 16% of China’s GDP.

Global Core Banking Software Market Share

However, the lack of awareness among businesses regarding advanced banking technologies may hamper the global core banking software industry in the long run. The current industry trend, such as advancements in core banking technology with the growing adoption of innovative technologies to attract new-age customers and harvest better growth prospects from cutting edge technologies such as blockchain data analytics and machine learning, is expected to provide beneficial market opportunities for the key players in the forecast years.

The core banking software markets are vast, with a large number of global and local players. The key leaders follow various strategies to strengthen their market position, such as increasing product portfolio, expansions, mergers, acquisitions, and product innovations to enlarge their market share at the global level. For example, in August 2020, Fidelity National Information Services, Inc. (FIS) had launched ClearEdge, a core banking software solution. It is the latest subscription-based core banking software that can make easy and accelerate the access to the advanced technology that banks will exploit for serving their customers during the post-pandemic phase.  The crucial players included in the report are Capgemini, Finastra, FIS, Fiserv, Inc., HCL Technologies Limited, Infosys Limited, Jack Henry & Associates, Inc., Oracle Corporation, Temenos Group, and Unisys.

In this research report, the core banking software market is segmented by solution, service, deployment, end-use, and region.

Analysis by Solution:
By solution, the report is categorized into deposits, loans, enterprise customer solutions, and others. 

The enterprise customer solutions segment dominates the solution segment in 2019 with a maximum market share of 40%. It is due to the growing demand for Enterprise customer solutions across banking and other financial institutions as it can be easily integrated with ERP and CRM and can administrate management tools and information of clients via a bank central database. Moreover, it helps banks and financial institutions expand their reach and achieve economies of scale by data integration for multiple purposes such as cross-selling, CRM, and regulatory reporting. It also improves financial institutions' functioning, reduces operational costs, and presents a sole interface to control banking activities, thus contributing to the forecast period's enterprise customer solutions segment growth.

Analysis by Service:
By services, the report is categorized into professional service and managed service. The professional service segment is accounted for the largest share of 70% in 2019. It is due to the rising need for support at every stage of the software deployment process, together with the pre-implementation of scope and consulting, project management, and integration. Moreover, the professional service providers offer on-demand support and resources at affordable IT service costs to small and medium enterprises, thus driving the professional service segments in the forecast period.

Analysis by Deployment:
By deployment, the report is categorized into the cloud and on-premise. The on-premise segment is accounted for the largest share of 60% in 2019. It is due to the increase in building an on-premise system leads to improved security, fully customizable, and high scalability. Moreover, mid to large-sized businesses whose primary concern is based on complete control and improved privacy give preference to on-site systems contributes to on-premise segment growth in the forecast period.

Analysis by End-User:
By end-user, the report is categorized into banks, financial institutions, and others. The bank segment is accounted for the largest share of 55% in 2019. It is due to the financial institutions and banks are widely adopting core banking software to prevent theft and fraud with real-time banking facilities. These technologies help banks in increasing operational efficiency and minimizing manual work.  Moreover, the growing need to centralize record-keeping and permit access from any location encourages installing core banking solutions at multiple bank branches and then interconnected by computer networks based on satellite telephones.

Analysis by Region:
In the regional outlook of the global core banking software market, the North America region dominates with a maximum market share of 25% in 2019. It is due to the early adoption of core banking software solutions by enterprises in the region coupled with small and medium enterprises in the U.S., and other areas of North America are implementing these solutions for the sufficient flow of banking activities. Moreover, the rapidly expanding sizes of enterprises and the growing application area of these solutions contribute to the core banking software market's growth across North America.

Market Segmentation covered in the Report:
By Solution 
  • Deposits
  • Loans
  • Enterprise Customer Solutions
  • Others

By Service 
  • Professional Service
  • Managed Service

By Deployment 
  • Cloud
  • On-Premise

By End-Use 
  • Banks
  • Financial Institutions
  • Others

By Region
  • North America
  • Europe
  • The Asia Pacific
  • Latin America
  • The Middle East and Africa

METHODOLOGY

This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications. 

If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.

TABLE OF CONTENTS
 
1 . PREFACE
       1.1. Report Description
           1.1.1. Objective
           1.1.2. Target Audience
           1.1.3. Unique Selling Proposition (USP) & offerings
       1.2. Research Scope
       1.3. Research Methodology
           1.3.1. Market Research Process
           1.3.2. Market Research Methodology
 
2 . EXECUTIVE SUMMARY
       2.1. Highlights of Market
       2.2. Global Market Snapshot
 
3 . CORE BANKING SOFTWARE – INDUSTRY ANALYSIS
       3.1. Introduction - Market Dynamics
       3.2. Market Drivers
       3.3. Market Restraints
       3.4. Opportunities
       3.5. Industry Trends
       3.6. Porter’s Five Force Analysis
       3.7. Market Attractiveness Analysis
           3.7.1 By Solution
           3.7.2 By Service
           3.7.3 By Deployment
           3.7.4 By End-Use
           3.7.5 By Region
 
4 . VALUE CHAIN ANALYSIS
       4.1. Value Chain Analysis
       4.2. Raw Material Analysis
           4.2.1. List of Raw Materials
           4.2.2. Raw Material Manufactures List
           4.2.3. Price Trend of Key Raw Materials
       4.3. List of Potential Buyers
       4.4. Marketing Channel
           4.4.1. Direct Marketing
           4.4.2. Indirect Marketing
           4.4.3. Marketing Channel Development Trend
 
5 . IMPACT ANALYSIS OF COVID-19 OUTBREAK
       5.1. Impact Analysis of Covid-19 Outbreak
           5.1.1. Direct Impact on Production
           5.1.2. Supply Chain and Market Disruption
           5.1.3. Financial Impact on Firms and Financial Markets
       5.2. COVID-19 Impact Analysis by Production, Import, Export and Demand
       5.3. Market: Pre V/S Post COVID-19
       5.4. Estimated Impact of the Coronavirus (COVID-19) Epidemic
       5.5. COVID-19: Micro and Macro Factor Analysis
 
6 . GLOBAL CORE BANKING SOFTWARE MARKET ANALYSIS BY SOLUTION
       6.1 Overview by Solution
       6.2 Historical and Forecast Data
       6.3 Analysis by Solution
       6.4 Deposits Market by Regions
       6.5 Loans Market by Regions
       6.6 Enterprise Customer Solutions Market by Regions
       6.7 Others Market by Regions
 
7 . GLOBAL CORE BANKING SOFTWARE MARKET ANALYSIS BY SERVICE
       7.1 Overview by Service
       7.2 Historical and Forecast Data
       7.3 Analysis by Service
       7.4 Professional Service Market by Regions
       7.5 Managed Service Market by Regions
 
8 . GLOBAL CORE BANKING SOFTWARE MARKET ANALYSIS BY DEPLOYMENT
       8.1 Overview by Deployment
       8.2 Historical and Forecast Data
       8.3 Analysis by Deployment
       8.4 Cloud Market by Regions
       8.5 On-Premise Market by Regions
 
9 . GLOBAL CORE BANKING SOFTWARE MARKET ANALYSIS BY END-USE
       9.1 Overview by End-Use
       9.2 Historical and Forecast Data
       9.3 Analysis by End-Use
       9.4 Banks Market by Regions
       9.5 Financial Institutions Market by Regions
       9.6 Others Market by Regions
 
10 . GLOBAL CORE BANKING SOFTWARE MARKET ANALYSIS BY GEOGRAPHY
       10.1. Regional Outlook
       10.2. Introduction
       10.3. North America
           10.3.1. Overview, Historic and Forecast Data
           10.3.2. North America By Segment
           10.3.3. North America By Country
           10.3.4. United State
           10.3.5. Canada
           10.3.6. Mexico
       10.4. Europe
           10.4.1. Overview, Historic and Forecast Data
           10.4.2. Europe by Segment
           10.4.3. Europe by Country
           10.4.4. United Kingdom
           10.4.5. France
           10.4.6. Germany
           10.4.7. Italy
           10.4.8. Russia
           10.4.9. Rest Of Europe
       10.5. Asia Pacific
           10.5.1. Overview, Historic and Forecast Data
           10.5.2. Asia Pacific by Segment
           10.5.3. Asia Pacific by Country
           10.5.4. China
           10.5.5. India
           10.5.6. Japan
           10.5.7. South Korea
           10.5.8. Australia
           10.5.9. Rest Of Asia Pacific
       10.6. Latin America
           10.6.1. Overview, Historic and Forecast Data
           10.6.2. Latin America by Segment
           10.6.3. Latin America by Country
           10.6.4. Brazil
           10.6.5. Argentina
           10.6.6. Peru
           10.6.7. Chile
           10.6.8. Rest of Latin America
       10.7. Middle East & Africa
           10.7.1. Overview, Historic and Forecast Data
           10.7.2. Middle East & Africa by Segment
           10.7.3. Middle East & Africa by Country
           10.7.4. Saudi Arabia
           10.7.5. UAE
           10.7.6. Israel
           10.7.7. South Africa
           10.7.8. Rest Of Middle East And Africa
 
11 . COMPETITIVE LANDSCAPE OF THE CORE BANKING SOFTWARE COMPANIES
       11.1. Core Banking Software Market Competition
       11.2. Partnership/Collaboration/Agreement
       11.3. Merger And Acquisitions
       11.4. New Product Launch
       11.5. Other Developments
 
12 . COMPANY PROFILES OF CORE BANKING SOFTWARE INDUSTRY
       12.1. Company Share Analysis
       12.2. Market Concentration Rate
       12.3. Capgemini
           12.3.1. Company Overview
           12.3.2. Financials
           12.3.3. Products
           12.3.4. Recent Developments
       12.4. Finastra
           12.4.1. Company Overview
           12.4.2. Financials
           12.4.3. Products
           12.4.4. Recent Developments
       12.5. FIS
           12.5.1. Company Overview
           12.5.2. Financials
           12.5.3. Products
           12.5.4. Recent Developments
       12.6. Fiserv, Inc.
           12.6.1. Company Overview
           12.6.2. Financials
           12.6.3. Products
           12.6.4. Recent Developments
       12.7. HCL Technologies Limited
           12.7.1. Company Overview
           12.7.2. Financials
           12.7.3. Products
           12.7.4. Recent Developments
       12.8. Infosys Limited
           12.8.1. Company Overview
           12.8.2. Financials
           12.8.3. Products
           12.8.4. Recent Developments
       12.9. Jack Henry & Associates, Inc.
           12.9.1. Company Overview
           12.9.2. Financials
           12.9.3. Products
           12.9.4. Recent Developments
       12.10. Oracle Corporation
           12.10.1. Company Overview
           12.10.2. Financials
           12.10.3. Products
           12.10.4. Recent Developments
       12.11. Temenos Group
           12.11.1. Company Overview
           12.11.2. Financials
           12.11.3. Products
           12.11.4. Recent Developments
       12.12. Unisys
           12.12.1. Company Overview
           12.12.2. Financials
           12.12.3. Products
           12.12.4. Recent Developments
 
 *Note - in company profiling, financial details and recent development are subject to availability or might not be covered in case of private companies
 
 LIST OF TABLES
 

  •  Market Snapshot
  •  Drivers : Impact Analysis
  •  Restraints : Impact Analysis
  •  List of Raw Material
  •  List of Raw Material Manufactures
  •  List of Potential Buyers
  •  COVID-19 Impact Analysis by Production, Import, Export and Demand
  •  Pre V/S Post COVID-19
  •  Estimated Impact Of The Coronavirus (Covid-19) Epidemic
  •  COVID-19: Micro and Macro Factor Analysis
  •  Analysis by Solution  (USD MN)
  •  Deposits Market by Geography (USD MN)
  •  Loans Market by Geography (USD MN)
  •  Enterprise Customer Solutions Market by Geography (USD MN)
  •  Others Market by Geography (USD MN)
  •  Analysis Market by Service  (USD MN)
  •  Professional Service Market by Geography (USD MN)
  •  Managed Service Market by Geography (USD MN)
  •  Analysis by Deployment  (USD MN)
  •  Cloud Market by Geography (USD MN)
  •  On-Premise Market by Geography (USD MN)
  •  Analysis by End-Use  (USD MN)
  •  Banks Market by Geography (USD MN)
  •  Financial Institutions Market by Geography (USD MN)
  •  Others Market by Geography (USD MN)
  •  Global Core Banking Software Market by Geography (USD MN)
  •  North America Market Analysis (USD MN)
  •  United State Market Analysis (USD MN)
  •  Canada Market Analysis (USD MN)
  •  Mexico Market Analysis (USD MN)
  •  Europe Market Analysis (USD MN)
  •  Europe Market Estimate by Country (USD MN)
  •  United Kingdom Market Analysis (USD MN)
  •  France Market Analysis (USD MN)
  •  Germany Market Analysis (USD MN)
  •  Italy Market Analysis (USD MN)
  •  Russia Market Analysis (USD MN)
  •  Spain Market Analysis (USD MN)
  •  Rest of Europe Market Analysis (USD MN)
  •  Asia Pacific Market Analysis (USD MN)
  •  China Market Analysis (USD MN)
  •  Japan Market Analysis (USD MN)
  •  India Market Analysis (USD MN)
  •  South Korea Market Analysis (USD MN)
  •  Australia Market Analysis (USD MN)
  •  Rest of Asia Pacific Market Analysis (USD MN)
  •  Latin America Market Analysis (USD MN)
  •  Brazil Market Analysis (USD MN)
  •  Argentina Market Analysis (USD MN)
  •  Peru Market Analysis (USD MN)
  •  Chile Market Analysis (USD MN)
  •  Rest of Latin America Market Analysis (USD MN)
  •  Middle East & Africa Market Analysis (USD MN)
  •  Saudi Arabia Market Analysis (USD MN)
  •  UAE Market Analysis (USD MN)
  •  Israel Market Analysis (USD MN)
  •  South Africa Market Analysis (USD MN)
  •  Rest of Middle East and Africa Market Analysis (USD MN)
  •  Partnership/Collaboration/Agreement
  •  Mergers And Acquisiton
 
 LIST OF FIGURES
 
  •  Research Scope of Core Banking Software Report
  •  Market Research Process
  •  Market Research Methodology
  •  Global Core Banking Software Market Size, by Region (USD MN)
  •  Porters Five Forces Analysis
  •  Market Attractiveness Analysis by Solution
  •  Market Attractiveness Analysis by Service
  •  Market Attractiveness Analysis by Deployment
  •  Market Attractiveness Analysis by End-Use
  •  Market Attractiveness Analysis by Region
  •  Value Chain Analysis
  •  Global Market Analysis by Solution  (USD MN)
  •  Deposits Market by Geography (USD MN)
  •  Loans Market by Geography (USD MN)
  •  Enterprise Customer Solutions Market by Geography (USD MN)
  •  Others Market by Geography (USD MN)
  •  Global Market Analysis by Service  (USD MN)
  •  Professional Service Market by Geography (USD MN)
  •  Managed Service Market by Geography (USD MN)
  •  Global Market Analysis by Deployment  (USD MN)
  •  Cloud Market by Geography (USD MN)
  •  On-Premise Market by Geography (USD MN)
  •  Global Market Analysis by End-Use  (USD MN)
  •  Banks Market by Geography (USD MN)
  •  Financial Institutions Market by Geography (USD MN)
  •  Others Market by Geography (USD MN)
  •  Global Market by Revenue
  •  North America Market by Revenue
  •  Europe Market by Revenue
  •  Asia Pacific Market by Revenue
  •  Latin America Market by Revenue
  •  Middle East & Africa Market by Revenue
  •  Recent Development in Industry
  •  Company Market Share Analysis, 2020
 
 * Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.

Objectives of Study

  • Define and measure the global market
  • Volume or revenue forecast of the global market and its various sub-segments with respect to main geographies
  • Analyze and identify major market trends along with the factors driving or inhibiting the market growth
  • Study the company profiles of the major market players with their market share
  • Analyze competitive developments

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