Core Banking Solutions Market to Hit $28.78 Bn Globally by 2027 with a 14.6% CAGR : Empowering Financial Infrastructure

Empowering Financial Infrastructure: Core Banking Solutions Market Set to Reach $28.78 Billion Globally by 2027 with a 14.6% CAGR

NEW CASTLE, WILMINGTON, UNITED STATES, May 6, 2024 /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.

➡️𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂 : https://www.alliedmarketresearch.com/request-sample/A08726

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.

Covid-19 scenario-
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.

➡️𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐖𝐞 𝐨𝐟𝐟𝐞𝐫 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐬 𝐩𝐞𝐫 𝐲𝐨𝐮𝐫 𝐫𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭 : https://www.alliedmarketresearch.com/request-for-customization/A08726

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.

Key players in the industry-
Capital Banking Solutions
EdgeVerve Systems Limited
Finastra
FIS
Fiserv, Inc.
NCR Corporation
Oracle
SAP SE
Tata Consultancy Services Limited
Temenos Headquarters SA.

Key findings of the study

By deployment model, the on-premise segment led the core banking solutions market size, in terms of revenue in 2019.
By end user, the banks segment accounted for the highest market share in 2019.
By region, North America generated the highest revenue in 2019.

➡️𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A08726

Factors such as surge in adoption of core banking technology and numerous benefits provided by core banking solutions are major factors that drive growth of the core banking solutions market.

➡️𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐚𝐭 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭𝐞𝐝 𝐏𝐫𝐢𝐜𝐞:

E-commerce Payments Market
https://www.alliedmarketresearch.com/e-commerce-payments-market-A08184

Credit Intermediation Market
https://www.alliedmarketresearch.com/credit-intermediation-market-A09988

Australia Bank Guarantee Market
https://www.alliedmarketresearch.com/australia-bank-guarantee-market-A13110

Pet Insurance Market
https://www.alliedmarketresearch.com/pet-insurance-market

Robotic Process Automation (RPA) in Financial Services Market
https://www.alliedmarketresearch.com/robotic-process-automation-rpa-in-financial-services-market-A06933

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" 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. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each 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.

Contact Us:
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

David Correa
Allied Market Research
+18007925285 ext.
email us here