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Global Core Banking Solutions Market Size, Share, Forecast: By Component: Solution, Service; By Deployment Model: On-Premises, Cloud; By Enterprise Size: Large Enterprises, Small and Medium Enterprises; By Type: Enterprise Customer Solutions, Loans, Deposits, Others; By End User; Regional Analysis; Competitive Landscape; 2024-2032
Global Core Banking Solutions Market Outlook
The global core banking solutions market attained a value of about USD 16.69 billion in 2023. The market is further expected to grow at a CAGR of 14.56% during the forecast period of 2024-2032 to reach nearly USD 56.74 billion by 2032.
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Rapid Advancements in Technology to Aid in the Market Growth of Core Banking Solutions
The global market for core banking solutions has been augmented by the rising digitisation of banking services. With advancements in technology, the banking sector is continuously thriving to adopt the latest technology that would aid in streamlining the day-to-day banking services, including fund transfers, deposits, and loans, among others. Core banking solutions help banks and financial institutions to reduce operational and support expenses, provide real-time transaction information, and enable customers to manage bank accounts with multiple branches, which is invigorating the market growth.
Furthermore, owing to the elongated periods of lockdown as a result of the coronavirus pandemic, financial services were impelled to adopt remote operation services, which surged the demand for core banking solutions, hence augmenting the industry growth. In addition to this, increasing adoption of core banking technologies to enhance customer experience by providing remote access to various banking services, which is a major factor contributing to the market growth of core banking solutions.
Core Banking Solutions: Market Segmentation
Core banking solutions can be defined as a digital financial service that involves the processing of banking transactions via a centralised system to ensure uninterrupted workflow by digitally pairing frontend and backend services within a banking structure.
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On the basis of component, the market can be categorised into:
- Solution
- Service
The market, based on deployment model, can be divided into:
- On-Premises
- Cloud
Based on enterprise size, the market can be segmented into:
- Large Enterprises
- Small and Medium Enterprises
On the basis of type, the market can be divided into:
- Enterprise Customer Solutions
- Loans
- Deposits
- Others
Based on end user, the market segmentations include:
- Banks
- Credit Unions and Community Banks
- Others
The EMR report looks into the regional markets of core banking solutions like North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.
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Surging Demand for Digital Financial Services to Propel the Market Growth of Core Banking Solutions
The market growth of core banking solutions can be attributed to the dynamic shift in digital technologies. The emergence of advanced software services, such as artificial intelligence (AI), Big Data, and Internet of Things (IoT), among others, are revolutionising the traditional way of business operations, which is augmenting the market growth of core banking solutions. Furthermore, with the rising market penetration of smartphones and the prevalence of e-commerce, the consumer demand for digital banking services like mobile wallets, UPI, and internet banking, are further propelling the market growth of core banking solutions to streamline the customer experience.
Cloud-Based Deployment Model to Hold a Significant Share in the Overall Market of Core Banking Solutions
Based on the deployment model, the cloud-based segment of core banking solutions is the fastest revenue-generating segment. A surge in cloud computing technology through software-as-a-service (SaaS) to aid in storing large quantities of customer data and transaction processing is furthering the market growth of core banking solutions. Furthermore, large investments by established and emerging banking and financial institutes to incorporate the latest technologies are significantly contributing to the industry growth. The rising emphasis on boosting productivity by efficiently monitoring transactions and payments using cloud-based services is augmenting the overall market growth of core banking solutions.
Key Industry Players in the Global Core Banking Solutions Market
The report presents a detailed analysis of the following key players in the global core banking solutions market, looking into their capacity, market share, and latest developments like capacity expansions, plant turnabouts and mergers and acquisitions.
- Capital Banking Solutions
- EdgeVerve Systems Limited
- Finastra Limited
- Fiserv, Inc.
- Oracle Corporation
- Others
The comprehensive report looks at the micro and macro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of the Porter’s Five Forces Model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Deployment Model |
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| Breakup by Enterprise Size |
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| Breakup by Type |
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| Breakup by End User |
|
| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Core Banking Solutions Market Analysis
8.1 Key Industry Highlights
8.2 Global Core Banking Solutions Historical Market (2018-2023)
8.3 Global Core Banking Solutions Market Forecast (2024-2032)
8.4 Global Core Banking Solutions Market by Component
8.4.1 Solution
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Service
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Core Banking Solutions Market by Deployment Model
8.5.1 On-Premises
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Cloud
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Core Banking Solutions Market by Enterprise Size
8.6.1 Large Enterprises
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Small and Medium Enterprises
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Core Banking Solutions Market by Type
8.7.1 Enterprise Customer Solutions
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Loans
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Deposits
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Others
8.8 Global Core Banking Solutions Market by End User
8.8.1 Banks
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Credit Unions and Community Banks
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Others
8.9 Global Core Banking Solutions Market by Region
8.9.1 North America
8.9.1.1 Historical Trend (2018-2023)
8.9.1.2 Forecast Trend (2024-2032)
8.9.2 Europe
8.9.2.1 Historical Trend (2018-2023)
8.9.2.2 Forecast Trend (2024-2032)
8.9.3 Asia Pacific
8.9.3.1 Historical Trend (2018-2023)
8.9.3.2 Forecast Trend (2024-2032)
8.9.4 Latin America
8.9.4.1 Historical Trend (2018-2023)
8.9.4.2 Forecast Trend (2024-2032)
8.9.5 Middle East and Africa
8.9.5.1 Historical Trend (2018-2023)
8.9.5.2 Forecast Trend (2024-2032)
9 North America Core Banking Solutions Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Core Banking Solutions Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Core Banking Solutions Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Core Banking Solutions Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Core Banking Solutions Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Capital Banking Solutions
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 EdgeVerve Systems Limited
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Finastra Limited
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Fiserv, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.6 Oracle Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Core Banking Solutions Market: Key Industry Highlights, 2018 and 2032
2. Global Core Banking Solutions Historical Market: Breakup by Component (USD Billion), 2018-2023
3. Global Core Banking Solutions Market Forecast: Breakup by Component (USD Billion), 2024-2032
4. Global Core Banking Solutions Historical Market: Breakup by Deployment Model (USD Billion), 2018-2023
5. Global Core Banking Solutions Market Forecast: Breakup by Deployment Model (USD Billion), 2024-2032
6. Global Core Banking Solutions Historical Market: Breakup by Enterprise Size (USD Billion), 2018-2023
7. Global Core Banking Solutions Market Forecast: Breakup by Enterprise Size (USD Billion), 2024-2032
8. Global Core Banking Solutions Historical Market: Breakup by Type (USD Billion), 2018-2023
9. Global Core Banking Solutions Market Forecast: Breakup by Type (USD Billion), 2024-2032
10. Global Core Banking Solutions Historical Market: Breakup by End User (USD Billion), 2018-2023
11. Global Core Banking Solutions Market Forecast: Breakup by End User (USD Billion), 2024-2032
12. Global Core Banking Solutions Historical Market: Breakup by Region (USD Billion), 2018-2023
13. Global Core Banking Solutions Market Forecast: Breakup by Region (USD Billion), 2024-2032
14. North America Core Banking Solutions Historical Market: Breakup by Country (USD Billion), 2018-2023
15. North America Core Banking Solutions Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Europe Core Banking Solutions Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Europe Core Banking Solutions Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Asia Pacific Core Banking Solutions Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Asia Pacific Core Banking Solutions Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Latin America Core Banking Solutions Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Latin America Core Banking Solutions Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Middle East and Africa Core Banking Solutions Historical Market: Breakup by Country (USD Billion), 2018-2023
23. Middle East and Africa Core Banking Solutions Market Forecast: Breakup by Country (USD Billion), 2024-2032
24. Global Core Banking Solutions Market Structure
Key Questions Answered in the Report
The global core banking solutions market attained a value of nearly USD 16.69 billion in 2023.
The market is projected to grow at a CAGR of 14.56% in the forecast period of 2024-2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about 56.74 billion by 2032.
The major drivers of the market are the rising digitisation of banking services, the increasing use of innovative technologies in banking applications, and the growing adoption of core banking technologies to enhance customer experience.
The key trends aiding the market include the rising demand for digital banking services like mobile wallets, the emergence of advanced software services, and the surging adoption of cloud computing.
The major regional markets for core banking solutions are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.
The major components of core banking solutions are solution and service.
On-premises and cloud are the significant deployment models of core banking solutions.
The major enterprise sizes included in the market report are large enterprises and small and medium enterprises.
The different types of core banking solutions are enterprise customer solutions, loans, and deposits, among others.
The significant end users of core banking solutions are banks and credit unions and community banks, among others.
The major players in the market are Capital Banking Solutions, EdgeVerve Systems Limited, Finastra Limited, Fiserv, Inc., and Oracle Corporation, among others.
Analyst Review
The global core banking solutions market attained a value of about USD 16.69 billion in 2023, driven by the digitisation of banking sector. Aided by rising adoption of cloud-based core banking solutions, the market is expected to grow at a CAGR of 14.56% in the forecast period of 2024-2032 to reach nearly USD 56.74 billion by 2032.
EMR’s meticulous research methodology delves deep into the market covering the macro and micro aspects of the industry. On the basis of component, the market can be divided into solution and service. Based on deployment model, the market can be divided into on-premises and cloud. Based on enterprise size, the market can be segmented into large enterprises, and small and medium enterprises. On the basis of type, the market can be categorised into enterprise customer solutions, loans, and deposits, among others. The market, on the basis of end user, can be divided into banks, credit unions and community banks, and others. The major regional markets for core banking solutions are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa. They key players in the industry are Capital Banking Solutions, EdgeVerve Systems Limited, Finastra Limited, Fiserv, Inc., and Oracle Corporation, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.
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