It is quite challenging for banks in emerging economies to establish a physical presence to cater to the immense needs of an underserved populations in rural areas. Branch less banking offers a good solution to this predicament and banks have invested in mobile banking, net banking, and email banking to be available to any customers with the tap of a button.
Banks are now able to tap customers in far-flung rural areas and thereby increase banking frequency. There is a strong likelihood of some customers avoiding the use of banks because of the difficulties faced in terms of travel and time with branch based transactions. Therefore, banks are providing their customers ample choice and easy access via smartphones and companies involved in the core banking solutions market should take this into account.
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Banks have a commanding position in the core banking solutions market and are poised to gain massive BPS over the course of the forecast period. The banks segment is expected to have a value of just under US$ 7.6 billion in 2017 and exhibit the highest market attractiveness of 5.0 for the period from 2017 to 2027.
The financial institution segment is roughly half the size of banks in the core banking solutions market. Nonetheless, a CAGR of 4.6% from 2017 to 2027 makes it unwise to ignore financial institutions entirely in the core banking solutions market.
Nowadays, banks have begun to prioritize customer behavioural analysis through big data. This is one of the biggest trends in the core banking solutions market and customer data analytics is essentially studying the customer’s data provided to the respective bank.
Customer data analytics functions as the base for modifying the core banking solution to cater to changing customer requirements. Key stakeholders in the core banking solutions market are trying to develop new and innovative technologies that increase their customer base while entrenching loyalty amongst the current ones, primarily by way of exhaustive consumer analytics.
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As a result of cutthroat competition in the banking sector, retail banks now face the challenge of customer retention and core banking solutions are the link between banks and their customers in ensuring this is addressed. Core banking solutions allow banks to perform an effective customer analysis while simultaneously enabling customers to carry out their usual banking transactions. Customer satisfaction is improved with the core banking solutions and the latter go a long way in reducing customer effort.
North America and Europe have a robust financial infrastructure in place with New York and London being the global capitals of financial transactions. The Western Europe banks segment is anticipated to have a value of almost US$ 3 billion by end 2027 that should make it roughly twice the size of financial institutions at that time. A similar potential exists in the North America banks segment as is it predicted to push past US$ 3.1 billion in end 2027.
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The core banking solution market is likely to secure a CAGR of 4.9% through 2032.
The core banking solution market size is likely to cross US$ 14.84 by 2032.
The core banking solution market is likely to record a value of US$ 9.65 Bn in 2022.
North America and Europe are the leading regions in the core banking solution market.
1. Executive Summary 1.1. Market Overview 1.2. Market Analysis 1.3. FMI Analysis and Recommendations 2. Market Introduction 2.1. Market Taxonomy 2.2. Market Definition 2.3. Market Overview 3. Market View Point 3.1. Macro-Economic Factors 3.2. Opportunity Analysis 3.3. Technological Trends 3.4. Key Standards 4. Global Market Analysis 2012–2016 and Forecast 2017–2027 4.1. Introduction 4.2. Market Size and Y-o-Y Growth 4.3. Absolute $ Opportunity 5. North America Market Analysis 2012–2016 and Forecast 2017–2027 5.1. Introduction 5.2. Regional Market Dynamics 5.2.1. Drivers 5.2.2. Restraints 5.2.3. Trends 5.3. Market Size (US$ Mn) By Country, 2012-2016 5.3.1. U.S. 5.3.2. Canada 5.4. Market Size (US$ Mn) and Forecast By Country, 2017-2027 5.4.1. U.S. 5.4.2. Canada 5.5. Market Size (US$ Mn) and Forecast By Component 5.5.1. Software 5.5.2. Services 5.6. Market Size (US$ Mn) and Forecast By End User 5.6.1. Banks 5.6.2. Financial Institution 5.6.3. Others 5.7. Market Attractiveness Analysis 5.7.1. By Country 5.7.2. By Component 5.7.3. By End User 5.8. Market Presence (Intensity Map) 6. Western Europe Market Analysis 2012–2016 and Forecast 2017–2027 6.1. Introduction 6.2. Regional Market Dynamics 6.2.1. Drivers 6.2.2. Restraints 6.2.3. Trends 6.3. Market Size (US$ Mn) By Country, 2012-2016 6.3.1. Germany 6.3.2. France 6.3.3. U.K. 6.3.4. Spain 6.3.5. Italy 6.3.6. BENELUX 6.3.7. Nordic 6.3.8. Rest of Western Europe 6.4. Market Size (US$ Mn) and Forecast By Country, 2017-2027 6.4.1. Germany 6.4.2. France 6.4.3. U.K. 6.4.4. Spain 6.4.5. Italy 6.4.6. BENELUX 6.4.7. Nordic 6.4.8. Rest of Western Europe 6.5. Market Size (US$ Mn) and Forecast By Component 6.5.1. Software 6.5.2. Services 6.6. Market Size (US$ Mn) and Forecast By End User 6.6.1. Banks 6.6.2. Financial Institution 6.6.3. Others 6.7. Market Attractiveness Analysis 6.7.1. By Country 6.7.2. By Component 6.7.3. By End User 6.8. Market Presence (Intensity Map) 7. Eastern Europe Market Analysis 2012–2016 and Forecast 2017–2027 7.1. Introduction 7.2. Regional Market Dynamics 7.2.1. Drivers 7.2.2. Restraints 7.2.3. Trends 7.3. Market Size (US$ Mn) By Country, 2012-2016 7.3.1. Russia 7.3.2. Poland 7.3.3. Rest of Eastern Europe 7.4. Market Size (US$ Mn) and Forecast By Country, 2017-2027 7.4.1. Russia 7.4.2. Poland 7.4.3. Rest of Eastern Europe 7.5. Market Size (US$ Mn) and Forecast By Component 7.5.1. Software 7.5.2. Services 7.6. Market Size (US$ Mn) and Forecast By End User 7.6.1. Banks 7.6.2. Financial Institution 7.6.3. Others 7.7. Market Attractiveness Analysis 7.7.1. By Country 7.7.2. By Component 7.7.3. By End User 7.8. Market Presence (Intensity Map) 8. Latin America Market Analysis 2012–2016 and Forecast 2017–2027 8.1. Introduction 8.2. Regional Market Dynamics 8.2.1. Drivers 8.2.2. Restraints 8.2.3. Trends 8.3. Market Size (US$ Mn) By Country, 2012-2016 8.3.1. Brazil 8.3.2. Mexico 8.3.3. Rest of Latin America 8.4. Market Size (US$ Mn) and Forecast By Country, 2017-2027 8.4.1. Brazil 8.4.2. Mexico 8.4.3. Rest of Latin America 8.5. Market Size (US$ Mn) and Forecast By Component 8.5.1. Software 8.5.2. Services 8.6. Market Size (US$ Mn) and Forecast By End User 8.6.1. Banks 8.6.2. Financial Institution 8.6.3. Others 8.7. Market Attractiveness Analysis 8.7.1. By Country 8.7.2. By Component 8.7.3. By End User 8.8. Market Presence (Intensity Map) 9. Asia Pacific Excluding Japan (APEJ) Market Analysis 2012–2016 and Forecast 2017–2027 9.1. Introduction 9.2. Regional Market Dynamics 9.2.1. Drivers 9.2.2. Restraints 9.2.3. Trends 9.3. Market Size (US$ Mn) By Country, 2012-2016 9.3.1. China 9.3.2. India 9.3.3. Australia and New Zealand 9.3.4. ASEAN 9.3.5. Rest of APEJ 9.4. Market Size (US$ Mn) and Forecast By Country, 2017-2027 9.4.1. China 9.4.2. India 9.4.3. Australia and New Zealand 9.4.4. ASEAN 9.4.5. Rest of APEJ 9.5. Market Size (US$ Mn) and Forecast By Component 9.5.1. Software 9.5.2. Services 9.6. Market Size (US$ Mn) and Forecast By End User 9.6.1. Banks 9.6.2. Financial Institution 9.6.3. Others 9.7. Market Attractiveness Analysis 9.7.1. By Country 9.7.2. By Component 9.7.3. By End User 9.8. Market Presence (Intensity Map) 10. Japan Market Analysis 2012–2016 and Forecast 2017–2027 10.1. Introduction 10.2. Regional Market Dynamics 10.2.1. Drivers 10.2.2. Restraints 10.2.3. Trends 10.3. Market Size (US$ Mn) and Forecast By Component 10.3.1. Software 10.3.2. Services 10.4. Market Size (US$ Mn) and Forecast By End User 10.4.1. Banks 10.4.2. Financial Institution 10.4.3. Others 10.5. Market Attractiveness Analysis 10.5.1. By Component 10.5.2. By End User 10.6. Market Presence (Intensity Map) 11. Middle East and Africa Market Analysis 2012–2016 and Forecast 2017–2027 11.1. Introduction 11.2. Regional Market Dynamics 11.2.1. Drivers 11.2.2. Restraints 11.2.3. Trends 11.3. Market Size (US$ Mn) By Country, 2012-2016 11.3.1. GCC Countries 11.3.2. Turkey 11.3.3. Northern Africa 11.3.4. South Africa 11.3.5. Rest of MEA 11.4. Market Size (US$ Mn) and Forecast By Country, 2017-2027 11.4.1. GCC Countries 11.4.2. Turkey 11.4.3. Northern Africa 11.4.4. South Africa 11.4.5. Rest of MEA 11.5. Market Size (US$ Mn) and Forecast By Component 11.5.1. Software 11.5.2. Services 11.6. Market Size (US$ Mn) and Forecast By End User 11.6.1. Banks 11.6.2. Financial Institution 11.6.3. Others 11.7. Market Attractiveness Analysis 11.7.1. By Country 11.7.2. By Component 11.7.3. By End User 11.8. Market Presence (Intensity Map) 12. Forecast Factors: Relevance and Impact 13. Forecast Assumptions 14. Competition Landscape 14.1. Market Structure 14.2. Market Share Analysis 14.3. Competition Intensity Mapping By Market Taxonomy 14.4. Competition Dashboard 14.5. Company Profiles (Details – Overview, Financials, Strategy, Recent Developments) 14.5.1. SAP SE 14.5.2. Oracle Corporation 14.5.3. Infosys Limited 14.5.4. FIS (Fidelity Information Services) 14.5.5. Tata Consultancy Services Private Limited 14.5.6. Misys 14.5.7. HCL Technologies Limited 14.5.8. Temenos Group AG 14.5.9. Capgemini 14.5.10. Infrasoft Technologies Ltd. 14.5.11. Company Snapshot 14.5.11.1. IBM Corporation 14.5.11.2. Nelito Systems Ltd. 14.5.11.3. Infrasoft Technologies Ltd. 14.5.11.4. COBISCORP 14.5.11.5. Wipro Limited 15. Global Market Analysis 2012–2016 and Forecast 2017–2027 15.1. Introduction / Key Findings 15.2. Market Size (US$ Mn) and Forecast By Region 15.2.1. North America 15.2.2. Western Europe 15.2.3. Eastern Europe 15.2.4. Latin America 15.2.5. Asia Pacific Excluding Japan 15.2.6. Japan 15.2.7. Middle East and Africa 15.3. Market Attractiveness Analysis By Region 16. Global Market Analysis 2012–2016 and Forecast 2017–2027, By Component 16.1. Introduction 16.2. Market Size (US$ Mn) and Forecast By Type 16.2.1. Software 16.2.2. Service 16.3. Market Attractiveness Analysis By Component 17. Global Market Analysis 2012–2016 and Forecast 2017–2027, By End User 17.1. Introduction / Key Findings 17.2. Market Size (US$ Mn) and Forecast By Application 17.2.1. Banks 17.2.2. Financial Institution 17.2.3. Others 17.3. Market Attractiveness Analysis By Application 18. Research Methodology 19. Assumption and Acronyms
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Core Banking Solution Market
