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Core Banking Solution Market
Core Banking Solution Market
Core Banking Solution Market - By Component, By Deployment Model, By Enterprise Size, By Type, By End User, and By Region- global Opportunity Analysis and Industrial Forecast- 2022-2030.
Core Banking Solution MarketIndustry Overview:
A core banking solution can be defined as a networking of bank branches which allows the customers to use banking facilities and manage their accounts from any part of the world. A person can do banking transactions from any branch at any location and at any time. All the bank branches access banking applications from a centralized server. These applications can be accessed using internet from any place. The global Core Banking Solution market was valued at around USD 7.3 billion in 2020 and is expected to register a CAGR of 5.2% during the review period to reach to around USD 10.9 billion by end of 2030.
Core Banking Solution Market Segmentation:
Based on component, the global core banking solution market has been segmented into solution and service. The solution segment accounted for the largest market share in 2020 and is expected to register significant growth during the review period. The segment growth can be attributed to superior benefits of core banking solutions such as improved operations, easy handling of customer demands, less errors, manage changes and easy ability to introduce new financial products. The service segment is projected to grow at a healthy CAGR during the review period. The core banking services includes deposits, mortgages, reporting tools and loan &credit processing capabilities.
Based on deployment model, the global core banking solution market has been segmented into on-premise and cloud. The on-premise segment accounted for the largest market share in 2020 and is expected to grow at a significant CAGR during the review period. The segment growth can be attributed to increasing installation of core banking solutions on the premise of the organization. The cloud segment is attributed to register healthy growth during the review period.
Based on enterprise size, the global core banking solution market has been segmented into large enterprises and small & medium enterprises [SMEs]. The large enterprise segment accounted for the largest market share in 2020 and is expected to register significant growth during the review period. The segment growth can be attributed to widespread product adoption in the large banking organizations. The small & medium enterprise segment is expected to register considerable CAGR during the review period on account of increasing number of small banking organizations.
Based on type, the global core banking solution market has been segregated into enterprise customer solutions, loans, deposits and others. The enterprise customer solutions segment accounted for the largest market share in 2020 and is expected to grow at a significant CAGR during the review period. The loans segment is expected to register healthy CAGR during the review period.
Based on end user, the global core banking solution market has been segmented into banks, credit unions & community banks and others. The banks type segment accounted for the largest market share in 2020. The segment growth can be attributed to increasing number of small banks particularly in the developing countries. The credit unions & community banks segment is projected to witness considerable growth during the review period.
Core Banking Solution Market Dynamics and Factors:
The growth of the global core banking solution market is primarily driven by widespread usage of core banking solution systems in the large banking organizations. Growing integration of advance digital technologies in the banking sector is expected to propel the global core banking solution market growth at a significant rate during the review period.
Increasing penetration of online banking in the developing countries is likely to create lucrative opportunities for the players operating in the global core banking solutions market during the review period.
Core Banking Solution Market Geographical Analysis:
By Geography, the global core banking solution market has been divided into North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa. The market in North America accounted for the largest share in 2020 and is expected to grow at a significant CAGR during the review period. US held the dominating share in the region in 2020. The regional market growth can be attributed to presence of established banking sector particularly in the US. Increasing adoption of core banking solutions in the small and medium banks is likely to propel the global core banking solution market growth during the review period.
The market growth in Asia-Pacific region is expected to be driven by growing integration of advanced technologies in the banking sector coupled with rising digitalization. Increasing use of online banking services by customers in the region is another important factor propelling the market growth.
The European market is expected to grow at a considerable CAGR on account of high product adoption rate in the banking sectors. Germany accounted for the largest market share in the region. Increasing product use in the eastern European countries is expected to contribute to the market growth substantially.
The market in Latin America and the Middle East & Africa is expected to be driven by the growth of the banking sector industry coupled with increasing prevalence of advanced cloud technologies.
Core Banking Solution Market Report Scope
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Segmentation of the Core Banking Solution Market, 2022 – 2030 |
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By Component |
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By Deployment Model |
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By Enterprise Size |
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By Type |
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By End User |
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By Region |
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Key Market Segmentation
Core Banking Solution Market - By Component
o Solution
o Service
Core Banking Solution Market - By Deployment Model
o On Premise
o Cloud
Core Banking Solution Market - By Enterprise Size
o Large Enterprise
o Small & Medium Enterprises [SMEs]
Core Banking Solution Market - By Type
o Enterprise Customer Solutions
o Loans
o Deposits
o Others
Core Banking Solution Market - By End User
o Banks
o Credit Unions & Community Banks
o Others
Core Banking Solution Market - By Region
North America
o US
o Canada
o Mexico
Europe
o Germany
o UK
o France
o Italy
o Spain
o Russia
o Benelux
o Nordics
o Rest of Europe
Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
Middle East and Africa
South America
1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 Architecture
2.3 Scope of the Study
2.4 Related Stakeholders
3 Research Methodology
3.1 Introduction
3.2 Primary Research
3.2.1 Key Insights
3.2.2 Breakdown of Primary Interviews
3.3 Secondary Research
3.3.1 Important Sources
3.4 Market Size Estimation Approaches
3.4.1 Top-Down Approach
3.4.2 Bottom-Up Approach
3.4.3 Data Triangulation
3.5 List of Assumptions
4 Market Dynamics
4.1 Introduction
4.2 Drivers
4.2.1 Widespread usage of core banking solution systems in the large banking organizations
4.2.2 Growing integration of advance digital technologies in the banking sector
4.3 Restraints
4.3.1 Technical complexities and lack of awareness
4.4 Opportunities
4.4.1 Increasing penetration of online banking in the developing countries
4.5 Porter's Five Forces Model Analysis
4.6 Value Chain Analysis
4.7 Impact of COVID-19 on Global Core Banking Solution Market
5 Global Core Banking Solution Market, By Component
5.1 Introduction
5.2 Solution
5.3 Service
6 Global Core Banking Solution Market, By Deployment Model
6.1 Introduction
6.2 On-Premise
6.3 Cloud
7 Global Core Banking Solution Market, By Enterprise Size
7.1 Introduction
7.2 Large Enterprises
7.3 Small & Medium Enterprises [SMEs]
8 Global Core Banking Solution Market, By Type
8.1 Introduction
8.2 Enterprise Customer Solutions
8.3 Loans
8.4 Deposits
8.5 Others
9 Global Core Banking Solution Market, By End User
9.1 Introduction
9.2 Banks
9.3 Credit Unions & Community Banks
9.4 Others
10 Global Core Banking Solution Market, By Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia-Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 South Korea
10.4.5 Rest of Asia-Pacific
10.5 Middle East and Africa
10.6 South America
11 Competitive Landscape
11.1 Introduction
11.2 Vendor Evaluation Criteria
11.3 Vendor Share Analysis, 2020
11.4 Recent Developments, 2018-2021
11.4.1 New Product Launches
11.4.2 Partnerships
11.4.3 Mergers or Acquisitions
11.4.4 Business Expansions
12 Company Profiles
(This section covers the Business Overview, Financial Overview, Product and Product Offerings, Recent Developments, SWOT Analysis, and Key Strategies of the top market vendors. The given sequence does not represent their rankings in the market.
12.1 Capital Banking Solutions
12.2 EdgeVerve Systems Limited
12.3 Finastra
12.4 FIS
12.5 Fiserv, Inc.
12.6 NCR Corporation
12.7 Oracle
12.8 SAP SE
12.9 Tata Consultancy Services Limited
12.10 Temenos Headquarters SA
13 Appendix
13.1 Discussion Guide
13.2 Customization Options
Key Market Segmentation
Core Banking Solution Market - By Component
o Solution
o Service
Core Banking Solution Market - By Deployment Model
o On Premise
o Cloud
Core Banking Solution Market - By Enterprise Size
o Large Enterprise
o Small & Medium Enterprises [SMEs]
Core Banking Solution Market - By Type
o Enterprise Customer Solutions
o Loans
o Deposits
o Others
Core Banking Solution Market - By End User
o Banks
o Credit Unions & Community Banks
o Others
Core Banking Solution Market - By Region
North America
o US
o Canada
o Mexico
Europe
o Germany
o UK
o France
o Italy
o Spain
o Russia
o Benelux
o Nordics
o Rest of Europe
Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
Middle East and Africa
South America
Report ID: VBI74
----------------- Feb-2023
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Format: PDF/Excel
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