Mediaboss Marketing

Pune, Dec. 04, 2020 (GLOBE NEWSWIRE) -- The global core banking software market is set to gain impetus from the increasing adoption of innovative technologies, such as cloud, artificial intelligence, and machine learning in the banking industry. This information is given by Fortune Business Insights in a new study, titled, Core Banking Software Market Size, Share & COVID-19 Impact Analysis, By Deployment (SaaS/Hosted, Licensed), By Banking Type (Large Banks, Midsize Banks, Small Banks, Community Banks, and Credit Unions), By End-user (Retail Banking, Treasury, Corporate Banking, and Wealth Management), and Regional Forecast, 2020-2027. The study further mentions that the market size was USD 8.17 billion in 2019 and is projected to reach USD 28.83 billion by 2027, exhibiting a CAGR of 17.4% during the forecast period.

Click here to get the short-term and long-term impact of COVID-19 on this market.

Please visit: https://www.fortunebusinessinsights.com/core-banking-software-market-104392

COVID-19 Pandemic to Hinder Growth by Changing Interest Rates

The emergence of the COVID-19 pandemic has changed the work culture of various industries across the globe. Numerous financial and baking institutes are implementing the work from home (WFH) policy. Besides, delays in lease payments and changes in interest rates would affect growth negatively. We are delivering accurate reports to help you gain more insights into the current situation of the market.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit:

How Did We Develop This Report?

The market for core banking software houses regulatory firms and processors in its supply chain. We have used both primary and secondary research to obtain quantitative and qualitative data about the supply and demand sides. We have also analyzed competitive developments, such as collaborations, new product launches, mergers & acquisitions, joint ventures, collaborations, and agreements. Lastly, the report includes profiles of the prominent organizations and the strategies adopted by them to increase sales.

Get Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/core-banking-software-market-104392

Drivers & Restraints-

Increasing Need to Monitor Banking Processes Efficiently Will Bolster Growth

The increasing adoption of SaaS-based or cloud-based core banking software solutions provided by various manufacturers, such as Temenos AG and Finastra would propel the market growth in the near future. These help banks in monitoring transactions and payments effectively. However, the surging concerns about mobile malware, application vulnerabilities, information loss, and unencrypted data may obstruct the demand for core banking software solutions.

Segment-

Large Banks Segment to Grow Rapidly Fueled by Higher Penetration of Internet

Based on the banking type, the large bank's segment generated 34.8% in terms of the core banking software market share. It is likely to remain at the forefront stoked by the rising penetration of the internet and the increasing usage of connected devices for analyzing banking processes.

Speak to Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/core-banking-software-market-104392

Regional Insights-

North America to Dominate Backed by Presence of Prominent Manufacturers

Geographically, in 2019, North America procured USD 3.71 billion in terms of revenue and is set to lead throughout the forthcoming years. This growth is attributable to the presence of reputed core banking software providers, such as VSoft Corporation, Fidelity National Information Services, Inc., and others in the region. Asia Pacific, on the other hand, is expected to be the fastest-growing market because of the increasing adoption of mobile and web-based business applications in the banking sector.

Competitive Landscape-

Key Players Focus on Launching Novel Core Banking Software to Intensify Competition

This market contains a large number of companies. They are mainly focusing on the development of innovative software solutions to cater to the high demand worldwide. Some of the others are also engaged in the partnership strategy to enhance their positions. Below are the two latest industry developments:

List Of Key Companies profiled in Core Banking Software Market Are:

Quick Buy Core Banking Software Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/104392

Detailed Table of Content:

TOC Continued..

Get your Customized Research Report:

https://www.fortunebusinessinsights.com/enquiry/customization/core-banking-software-market-104392

Have a Look at Related Research Insights:

Customer Experience Management Market Size, Share & Industry Analysis, By Component (Solution, Services), By Deployment (On-Premises, Cloud), By Organization Size (SMEs, Large Enterprises), By Touchpoint (Telephone, Email, Web, Social Media, and Others), By End-User (BFSI, Retail, IT and Telecommunications, Healthcare, Manufacturing, Government, Travel and Transportation and Others) and Regional Forecast, 2019-2026

Customer Data Platform Market Size, Share & COVID-19 Impact Analysis, By Component (Platform and Services), By Deployment (Cloud, On-premises), By Type (Access, Analytics, and Campaign) By Industry (Banking, Financial Services and Insurance (BFSI), Retail and ecommerce, Information Technology (IT) and Telecom, Media and Entertainment, Travel and Hospitality, Healthcare, and Others (Government and Education)), and Regional Forecast, 2020-2027

Professional Service Automation Software Market Size, Share & Industry Analysis, By Application (Consulting Firms, Marketing and Communication Firms, IT Firms, Architecture and Construction Firms, Research Firms, Accounting Firms, Others), By Deployment Type (Cloud, On-premise) and Regional Forecast, 2019-2026

Artificial Intelligence (AI) Market Size, Share and Industry Analysis By Component (Hardware, Software, Services), By Technology (Computer Vision, Machine Learning, Natural Language Processing, Others), By Industry Vertical (BFSI, Healthcare, Manufacturing, Retail, IT & Telecom, Government, Others) and Regional Forecast, 2019-2026

Digital Payment Market Size, Share & Industry Analysis, By Payment Type (Mobile Payment, Online Banking, Point of Sale, Digital Wallet), By Industry (Media & Entertainment, Retail, BFSI, Automotive, Medical & Healthcare, Transportation, Consumer Electronics, Others), and Regional Forecast, 2019-2026

About Us:

Fortune Business Insightsoffers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:Fortune Business Insights Pvt. Ltd.308, Supreme Headquarters,Survey No. 36, Baner,Pune-Bangalore Highway,Pune- 411045, Maharashtra,India.Phone:US: +1-424-253-0390UK: +44-2071-939123APAC: +91-744-740-1245Email:sales@fortunebusinessinsights.comFortune Business InsightsLinkedIn|Twitter|Blogs

More here:
Core Banking Software Market to Reach USD 28.83 Billion by 2027; Adoption of Artificial Intelligence & Cloud in Banking Industry to Aid Growth:...