Core Banking Solutions Market - Greater Growth Rate during forecast 2018 - 2023

Veröffentlicht von: Market Research Future
Veröffentlicht am: 19.02.2018 12:29
Rubrik: IT, Computer & Internet


(Presseportal openBroadcast) - Core Banking Solutions Market, By Deployment (Cloud, On-Premise), By Solution (Enterprise Customer Solution, Account Processing Platforms, Loans, Deposits, Others), By Service (Managed Service, Professional Service) - Forecast 2023

Market Scenario:
Core banking is defined as the service delivered by group of networked bank branches to customers, where they can perform all the banking activities that includes money transactions, payments, loans, debts and access their accounts. Core banking is similar to that of retail banking and most of the banks consider retail customers as their core banking customers. Core banking solutions 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.
The major factors driving the market growth includes customer demand for advanced banking technologies, cost effective solutions, managing customer accounts efficiently so that customer can anytime visit the bank and gain information of their account and increased adoption of it in bank for centralized management. The growing need of operating customer accounts from single server is one of the significant factor driving market growth. There are some restraints which may affect the market growth includes lack of awareness among enterprises of modern banking technologies, no synchronization between core banking solution and global industry expectations.
The Core Banking Solutions Market is segmented on the basis of deployment, solution and service. By deployment segment the market consists of cloud and on-premise. Cloud based core banking solution enable users by offering less maintenance and development cost that enables banks to focus more on customers and market. It offers adaptable technology model that provides reduction in usage of IT hardware.
The core banking solutions market is expected to grow approximately at USD 13 Billion by 2023, at approx. 4% of CAGR between 2017 and 2023.

Study Objectives of Core Banking Solutions Market:
• To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the core banking solutions market.
• To provide insights about factors affecting the market growth.
• To analyze the core banking solutions market based porter’s five force analysis etc.
• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
• To provide country level analysis of the market with respect to the current market size and future prospective.
• To provide country level analysis of the market for segment on the basis deployment, solution and service.
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the core banking solutions market.

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Key Players:
The prominent players in the core banking solutions market are Infosys Limited (India), HCL Technologies Limited (India), Tata Consultancy Services (India), Capgemini SE (France), Oracle Financial Services Software Limited (India), Temenos Group AG (Switzerland), Fidelity National Information Services Inc. (U.S.), Misys (U.K.), Fiserv, Inc. (U.S.), SAP SE (Germany), among others.

Segments:
Core Banking Solutions market for segment on the basis of deployment, solution and service.

Core Banking Solutions market by Deployment:
• Cloud
• On-Premise

Core Banking Solutions market by Solution:
• Deposits
• Loans
• Enterprise Customer Solutions
• Account Processing Platform
• Others

Core Banking Solutions market by Service:
• Managed service
• Professional service


Regional Analysis:
The regional analysis of core banking solutions market is being studied for region such as Asia Pacific, North America, Europe and Rest of the World. North America region accounts for highest market share in core banking solutions market because of large scale adoption of advanced core banking solution software by prime banks in the region. Small and medium enterprises in the region are also implementing this solutions for efficient flow of banking activities. Europe region is one of the prominent players in the market owing to implementation of core banking solutions by banks.

Intended Audience
• Cloud service providers
• Investors and consultants
• Government Organizations
• Research/Consultancy firms
• Technology solution providers
• IT solution providers
• BFSI Enterprises

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