In a recently published report, Core Banking Software Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Core Banking Software Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
The major driving factor of global Core Banking Software market are increasing demand for advanced banking technologies and growing need of operating customer accounts for single server. In addition, managing customer account efficiently so that customer can anytime visit in the bank and gain information of their account and increasing adoption of it in bank for centralized management are some other factors which propelling the market growth of core banking software.
The Core Banking Software Market report answers the following questions:
What is the aim of the report?
The Core Banking Software Market report presents the estimated Core Banking Software Market size of Core Banking Software Market by the end of forecast period. Additionally, the historical and current Core Banking Software Market size is also examined in the report.
Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
An overview of the Core Banking Software Market based on geographical scope, Core Banking Software Market segmentation and financial performance of key players is presented in the report.
The report presents current trends in the industry and future scope of the Core Banking Software Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
The various parameters accelerating the growth of the Core Banking Software Market are incorporated in the research report.
The report analyzes growth rate, Core Banking Software Market size and valuation of the Core Banking Software Market during the forecast period.
The major restraining factor of global Core Banking Software market are lack of awareness among enterprises about modern banking technologies and no synchronization between core banking solution and global industry expectations. Core banking software is that software which is used for recording and managing banks customer transaction made to their account. These software are adopted by number of banks for easy flow of banking activities, enhanced risk management and are able to monitor the transaction activities from any branch of bank. Core banking software offers benefits such as reduce operational costs, minimize human intervention thereby limiting factor, makes the internal staff more competent, facilitates decision making through reporting & analytics, reduction of risks with the help of optimum checks & safety and increases employee efficiency.
In the statistics by Eurostat, the total value of the ICT sector including manufacturing and services of ICT in Europe, was estimated to be more than EUR 475 billion in the year 2017. Out of these, the ICT services sector accounted for the largest share. Moreover, the ICT services sector is predicted to be ten times larger than that of ICT manufacturing. On the other hand, the ICT services consist of computer programming, consultancy and related activities, along with telecommunication activities, out of which the former held about 49.1% share while the latter held around 30.3% share in the year 2017. These factors are estimated to impact positively towards the growth of the market in the next few years. According to the statistics by GSMA Intelligence, total cellular connections worldwide as of May 2020 was recorded to 10,18 billion.
As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.
The regional analysis of Global Core Banking Software Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to increasing adoption of advance core banking solution software by prime banks in the region. Europe is also estimating to project a major growth in the global Core Banking Software market due to implementation of core banking solution by banks. Asia-Pacific is also anticipated to exhibit higher growth rate/CAGR over the forecast period 2018-2025 owing to growing awareness among banks to adopt advanced banking technologies in developing countries such as China and India.
The major market player included in this report are:
Tata Consultancy Services
Jack Henry & Associates
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
What aspects regarding the regional analysis of Core Banking Software Market are included in this report?
Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The report consists of detailed region-wise analysis of current and future Core Banking Software Market trends, providing information on product usage and consumption.
The growth rate of the Core Banking Software Market in every region, including their countries over the forecast period is included in the Core Banking Software Market report.
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*Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Core Banking Software Market in Market Study:
*Key Consulting Companies & Advisors
*Large, medium-sized, and small enterprises
*Value-Added Resellers (VARs)
*Third-party knowledge providers
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TABLE OF CONTENTS
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Key Trends
1.3. Global & Segmental Market Estimates & Forecasts, 2015-2025 (USD Billion)
1.3.1. Core Banking Software Market, by Type, 2015-2025 (USD Billion)
1.3.2. Core Banking Software Market, by Applications, 2015-2025 (USD Billion)
1.3.3. Core Banking Software Market, by Region, 2015-2025 (USD Billion)
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Core Banking Software Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Core Banking Software Market Dynamics
3.1. See Saw Analysis
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Core Banking Software Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Buyers
4.1.2. Bargaining Power of Suppliers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model
4.2. PEST Analysis
4.2.1. Political Scenario
4.2.2. Economic Scenario
4.2.3. Social Scenario
4.2.4. Technological Scenario
4.3. Value Chain Analysis
4.3.2. Manufacturers/Service Provider
4.4. Key Buying Criteria
4.5. Regulatory Framework
4.6. Cost Structure Analysis
4.6.1. Raw Material Cost Analysis
4.6.2. Manufacturing Cost Analysis
4.6.3. Labor Cost Analysis
4.7. Investment Vs Adoption Scenario
4.8. Analyst Recommendation & Conclusion
Chapter 5. Core Banking Software Market, by Type
5.1. Market Snapshot
5.2. Market Performance – Potential Model
5.3. Key Market Players
5.4. Core Banking Software Market, Sub Segment Analysis
22.214.171.124. Market estimates & forecasts, 2015-2025 (USD Billion)
126.96.36.199. Regional breakdown estimates & forecasts, 2015-2025 (USD Billion)
188.8.131.52. Market estimates & forecasts, 2015-2025 (USD Billion)
184.108.40.206. Regional breakdown estimates & forecasts, 2015-2025 (USD Billion)
Chapter 6. Core Banking Software Market, by Application
6.1. Market Snapshot
6.2. Market Performance – Potential Model
6.3. Key Market Players
6.4. Core Banking Software Market, Sub Segment Analysis
6.4.1. Retail Banks
220.127.116.11. Market estimates & forecasts, 2015-2025 (USD Billion)
18.104.22.168. Regional breakdown estimates & forecasts, 2015-2025 (USD Billion)
6.4.2. Private Banks
22.214.171.124. Market estimates & forecasts, 2015-2025 (USD Billion)
126.96.36.199. Regional breakdown estimates & forecasts, 2015-2025 (USD Billion)
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