Core Banking Software Market Insight and Trends 2030
The global core banking software market size was valued at USD 10.31 billion in 2021, and is predicted to be worth around USD 22.61 billion by 2030, registering a CAGR of 8.8% during the forecast period 2022 to 2030.
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Growth Factors
The market growth can be attributed to the surge in the adoption of core banking technology across banks and financial institutions globally. This technology is helping numerous banks across the globe synchronize their front, mid, and back-office tasks.
Core banking software offers a comprehensive suite of capabilities to power the digital transformation of financial institutes. Numerous banks across the globe are adopting core banking solutions to gain a comprehensive set of capabilities, including extensive parameterization, flexible product factories, reusable business components, and product bundling. These capabilities are helping banks achieve innovation-led growth.
The growth can be attributed to the increasing customer demand for advanced banking technologies. Moreover, the increasing demand for a digital banking experience from Gen Z and millennials is transforming how the banking industry operates. The increasing consumer demand to access banking services from digital channels has led to a surge in advanced banking technologies. These factors are expected to drive the growth prospects of the market over the forecast period.
Report Coverage
| Report Scope | Details |
| Market Size | US$ 22.61 billion by 2030 |
| Growth Rate | CAGR of 8.8% From 2022 to 2030 |
| Largest Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | Solution, Service, Deployment, End-use |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Capgemini; Finastra; FIS; Fiserv, Inc.; HCL Technologies Limited; Infosys Limited; Jack Henry & Associates, Inc.; Oracle Corporation; Temenos Group; Unisys |
By Solution Analysis
The enterprise customer solutions segment dominated the market in 2021 and accounted for more than 47.0% share of the global revenue. Enterprise customer solutions seamlessly integrate with CRM and ERP systems and administrate management tools and customer information through the central database of a bank.
Core banking solutions allow inter-connectivity between branches of the same financial institution and bank and facilitate the management of loan, deposit, and credit processing. These solutions are integrated with a back-end system, which efficiently processes various banking transactions across the multiple branches of a bank.
By Service Analysis
The professional service segment dominated the market in 2021 and accounted for more than a 76.0% share of the global revenue. Banks across the globe are focusing on adopting open-system architecture and platform-independent and cutting-edge technology.
Maintaining a full-time IT department can be expensive, inefficient, and time-consuming for small- to medium-sized businesses. Professional service providers offer on-demand support and resources at affordable IT service costs to small and medium enterprises, thereby fueling the segment growth.
The managed service segment is anticipated to register the highest growth over the forecast period. Banks and financial institutions across the globe are focusing on integrating their systems using APIs to reduce upgrade and maintenance costs, thereby creating growth opportunities for managed services segment.
By Deployment Analysis
The on-premise segment dominated the market in 2021 and accounted for more than 60.0% share of the global revenue. When building an on-premise system, businesses assume the full responsibility of integration and any IT-related and security issues.
The cloud segment is anticipated to register the highest growth over the forecast period. Financial institutions and banks with on-premise infrastructure are focusing on adopting cloud-based solutions to compete against more innovative digital opponents.
By End-use Analysis
The banks segment dominated the market in 2021 and accounted for more than 56.0% share of the global revenue. The growth of the segment can be attributed to the vast advancements in information technology and the growing network of the internet across the globe.
The core banking software is installed at multiple bank branches and then interconnected by computer networks based on satellite, telephones, and the internet. Benefits offered by core banking solutions, including increased efficiency and accessibility, reduced additional costs, and increased system flexibility, are expected to drive their adoption across banks.
Network technology and core banking solutions allow banks to centralize record-keeping and permit access from any location. Numerous banks across the globe are focusing on implementing custom applications for core banking. The financial institutions segment is expected to witness significant growth over the forecast period.
By Regional Analysis
North America dominated the market for core banking software in 2021 and accounted for over 28.0% share of global revenue. The large-scale adoption of advanced core banking software by leading banks in the region is expected to fuel the growth of the regional market.
Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. Market growth in Asia Pacific is likely to be primarily driven by the increasing adoption of mobile and web-based business applications in the banking sector.
Key Players
- Capgemini
- Finastra
- FIS
- Fiserv, Inc.
- HCL Technologies Limited
- Infosys Limited
- Jack Henry & Associates, Inc.
- Oracle Corporation
- Temenos Group
- Unisys
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Market Segmentation
- By Solution
- Deposits
- Loans
- Enterprise Customer Solutions
- Others
- By Service
- Professional Service
- Managed Service
- By Deployment
- Cloud
- On-premise
- End-use
- Banks
- Financial Institutions
- Others
- Regional
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East & Africa
- North America
Reasons to Purchase this Report:
– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Table of Contents
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Deployment Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Core Banking Software Market, By Solution
7.1. Core Banking Software Market, by Solution, 2021-2030
7.1.1. Deposits
7.1.1.1. Market Revenue and Forecast (2019-2030)
7.1.2. Loans
7.1.2.1. Market Revenue and Forecast (2019-2030)
7.1.3. Enterprise Customer Solutions
7.1.3.1. Market Revenue and Forecast (2019-2030)
Chapter 8. Global Core Banking Software Market, By Services
8.1. Core Banking Software Market, by Services, 2021-2030
8.1.1. Professional Service
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Managed Service
8.1.2.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global Core Banking Software Market, By Deployment
9.1. Core Banking Software Market, by Deployment, 2021-2030
9.1.1. Cloud
9.1.1.1. Market Revenue and Forecast (2019-2030)
9.1.2. On-premise
9.1.2.1. Market Revenue and Forecast (2019-2030)
Chapter 10. Global Core Banking Software Market, By End-use
10.1. Core Banking Software Market, by End-use, 2021-2030
10.1.1. Banks
10.1.1.1. Market Revenue and Forecast (2019-2030)
10.1.2. Financial Institutions
10.1.2.1. Market Revenue and Forecast (2019-2030)
Chapter 11. Global Core Banking Software Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Solution (2019-2030)
11.1.2. Market Revenue and Forecast, by Services (2019-2030)
11.1.3. Market Revenue and Forecast, by Deployment (2019-2030)
11.1.4. Market Revenue and Forecast, by End-use (2019-2030)
11.1.5. U.S.
11.1.5.1. Market Revenue and Forecast, by Solution (2019-2030)
11.1.5.2. Market Revenue and Forecast, by Services (2019-2030)
11.1.5.3. Market Revenue and Forecast, by Deployment (2019-2030)
11.1.5.4. Market Revenue and Forecast, by End-use (2019-2030)
11.1.6. Rest of North America
11.1.6.1. Market Revenue and Forecast, by Solution (2019-2030)
11.1.6.2. Market Revenue and Forecast, by Services (2019-2030)
11.1.6.3. Market Revenue and Forecast, by Deployment (2019-2030)
11.1.6.4. Market Revenue and Forecast, by End-use (2019-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Solution (2019-2030)
11.2.2. Market Revenue and Forecast, by Services (2019-2030)
11.2.3. Market Revenue and Forecast, by Deployment (2019-2030)
11.2.4. Market Revenue and Forecast, by End-use (2019-2030)
11.2.5. UK
11.2.5.1. Market Revenue and Forecast, by Solution (2019-2030)
11.2.5.2. Market Revenue and Forecast, by Services (2019-2030)
11.2.5.3. Market Revenue and Forecast, by Deployment (2019-2030)
11.2.5.4. Market Revenue and Forecast, by End-use (2019-2030)
11.2.6. Germany
11.2.6.1. Market Revenue and Forecast, by Solution (2019-2030)
11.2.6.2. Market Revenue and Forecast, by Services (2019-2030)
11.2.6.3. Market Revenue and Forecast, by Deployment (2019-2030)
11.2.6.4. Market Revenue and Forecast, by End-use (2019-2030)
11.2.7. France
11.2.7.1. Market Revenue and Forecast, by Solution (2019-2030)
11.2.7.2. Market Revenue and Forecast, by Services (2019-2030)
11.2.7.3. Market Revenue and Forecast, by Deployment (2019-2030)
11.2.7.4. Market Revenue and Forecast, by End-use (2019-2030)
11.2.8. Rest of Europe
11.2.8.1. Market Revenue and Forecast, by Solution (2019-2030)
11.2.8.2. Market Revenue and Forecast, by Services (2019-2030)
11.2.8.3. Market Revenue and Forecast, by Deployment (2019-2030)
11.2.8.4. Market Revenue and Forecast, by End-use (2019-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Solution (2019-2030)
11.3.2. Market Revenue and Forecast, by Services (2019-2030)
11.3.3. Market Revenue and Forecast, by Deployment (2019-2030)
11.3.4. Market Revenue and Forecast, by End-use (2019-2030)
11.3.5. India
11.3.5.1. Market Revenue and Forecast, by Solution (2019-2030)
11.3.5.2. Market Revenue and Forecast, by Services (2019-2030)
11.3.5.3. Market Revenue and Forecast, by Deployment (2019-2030)
11.3.5.4. Market Revenue and Forecast, by End-use (2019-2030)
11.3.6. China
11.3.6.1. Market Revenue and Forecast, by Solution (2019-2030)
11.3.6.2. Market Revenue and Forecast, by Services (2019-2030)
11.3.6.3. Market Revenue and Forecast, by Deployment (2019-2030)
11.3.6.4. Market Revenue and Forecast, by End-use (2019-2030)
11.3.7. Japan
11.3.7.1. Market Revenue and Forecast, by Solution (2019-2030)
11.3.7.2. Market Revenue and Forecast, by Services (2019-2030)
11.3.7.3. Market Revenue and Forecast, by Deployment (2019-2030)
11.3.7.4. Market Revenue and Forecast, by End-use (2019-2030)
11.3.8. Rest of APAC
11.3.8.1. Market Revenue and Forecast, by Solution (2019-2030)
11.3.8.2. Market Revenue and Forecast, by Services (2019-2030)
11.3.8.3. Market Revenue and Forecast, by Deployment (2019-2030)
11.3.8.4. Market Revenue and Forecast, by End-use (2019-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Solution (2019-2030)
11.4.2. Market Revenue and Forecast, by Services (2019-2030)
11.4.3. Market Revenue and Forecast, by Deployment (2019-2030)
11.4.4. Market Revenue and Forecast, by End-use (2019-2030)
11.4.5. GCC
11.4.5.1. Market Revenue and Forecast, by Solution (2019-2030)
11.4.5.2. Market Revenue and Forecast, by Services (2019-2030)
11.4.5.3. Market Revenue and Forecast, by Deployment (2019-2030)
11.4.5.4. Market Revenue and Forecast, by End-use (2019-2030)
11.4.6. North Africa
11.4.6.1. Market Revenue and Forecast, by Solution (2019-2030)
11.4.6.2. Market Revenue and Forecast, by Services (2019-2030)
11.4.6.3. Market Revenue and Forecast, by Deployment (2019-2030)
11.4.6.4. Market Revenue and Forecast, by End-use (2019-2030)
11.4.7. South Africa
11.4.7.1. Market Revenue and Forecast, by Solution (2019-2030)
11.4.7.2. Market Revenue and Forecast, by Services (2019-2030)
11.4.7.3. Market Revenue and Forecast, by Deployment (2019-2030)
11.4.7.4. Market Revenue and Forecast, by End-use (2019-2030)
11.4.8. Rest of MEA
11.4.8.1. Market Revenue and Forecast, by Solution (2019-2030)
11.4.8.2. Market Revenue and Forecast, by Services (2019-2030)
11.4.8.3. Market Revenue and Forecast, by Deployment (2019-2030)
11.4.8.4. Market Revenue and Forecast, by End-use (2019-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Solution (2019-2030)
11.5.2. Market Revenue and Forecast, by Services (2019-2030)
11.5.3. Market Revenue and Forecast, by Deployment (2019-2030)
11.5.4. Market Revenue and Forecast, by End-use (2019-2030)
11.5.5. Brazil
11.5.5.1. Market Revenue and Forecast, by Solution (2019-2030)
11.5.5.2. Market Revenue and Forecast, by Services (2019-2030)
11.5.5.3. Market Revenue and Forecast, by Deployment (2019-2030)
11.5.5.4. Market Revenue and Forecast, by End-use (2019-2030)
11.5.6. Rest of LATAM
11.5.6.1. Market Revenue and Forecast, by Solution (2019-2030)
11.5.6.2. Market Revenue and Forecast, by Services (2019-2030)
11.5.6.3. Market Revenue and Forecast, by Deployment (2019-2030)
11.5.6.4. Market Revenue and Forecast, by End-use (2019-2030)
Chapter 12. Company Profiles
12.1. Capgemini
12.1.1. Company Overview
12.1.2. Solution Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Finastra
12.2.1. Company Overview
12.2.2. Solution Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. FIS
12.3.1. Company Overview
12.3.2. Solution Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Fiserv, Inc.
12.4.1. Company Overview
12.4.2. Solution Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. HCL Technologies Limited
12.5.1. Company Overview
12.5.2. Solution Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Infosys Limited
12.6.1. Company Overview
12.6.2. Solution Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Jack Henry & Associates, Inc.
12.7.1. Company Overview
12.7.2. Solution Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Oracle Corporation
12.8.1. Company Overview
12.8.2. Solution Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Temenos Group
12.9.1. Company Overview
12.9.2. Solution Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Unisys
12.10.1. Company Overview
12.10.2. Solution Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
12.11. Company 11
12.11.1. Company Overview
12.11.2. Solution Offerings
12.11.3. Financial Performance
12.11.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
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