Core Banking Solutions Market to Reach $28.78 Bn, Globally, by 2027 at 14.6% CAGR: Allied Market Research

- Rise in adoption of core banking technology and numerous benefits associated with core banking solutions fuel the growth of the global core banking solutions market

PORTLAND, Ore., Jan. 12, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Core Banking Solutions Market by Component (Solution and Service), Deployment Model (On-Premise and Cloud), Enterprise Size (Large Enterprises and Small & Medium Enterprises [SMEs]), Type (Enterprise Customer Solutions, Loans, Deposits, and Others), and End User (Banks, Credit Unions & Community Banks, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global core banking solutions industry was estimated at $9.85 billion in 2019, and is anticipated to hit $28.78 billion by 2027, registering a CAGR of 14.6% from 2020 to 2027.

Drivers, restraints, and opportunities-

Rise in adoption of core banking technology and numerous benefits associated with core banking solutions fuel the growth of the global core banking solutions market. Also, growth in mergers & acquisitions among banks & financial institutions across various regions and untapped potential of emerging economies are expected to provide lucrative opportunities for core banking solution providers in the future.

Get Instant Access – Download Free Sample Report: https://www.alliedmarketresearch.com/request-sample/9091

Covid-19 scenario-

• The outbreak of the pandemic led to increase in use and adoption of digitalized financial services across the globe, which in turn has impacted the global core banking solutions market positively.
• At the same time, the core banking solutions have also helped financial organizations maintain important business operations and sustain in the market during this adverse situation.

The solution segment to dominate by 2027-

Based on component, the solution segment contributed to nearly three-fourths of the global core banking solutions market revenue in 2019, and is anticipated to lead the trail by 2027. This is attributed to the fact that banks & financial institutions are implementing solutions with better technology capabilities in order to improve their business operations. The services segment, on the other hand, would manifest the fastest CAGR of 17.5% during the forecast period. This is because it helps in meeting customers demand to the fullest.

Enquire For More Details: https://www.alliedmarketresearch.com/purchase-enquiry/9091 

The on-premises segment to maintain the dominant share-

Based on deployment model, the on-premises segment accounted for nearly three-fifths of the global core banking solutions market share in 2019, and is expected to rule the roost by the end of 2027. This is due to the fact that it provides full control over the whole infrastructure, including software & hardware. At the same time, the cloud segment would portray the fastest CAGR of 15.9% from 2020 to 2027, due to increase in need to reduce infrastructural investment.

North America garnered the major share in 2019-

Based on geography, North America held the highest share in 2019, generating nearly two-fifths of the global core banking solutions market, owing to huge presence of international investors in the province. They are adopting advance technologies and core banking solutions to heighten their services. This factor has boosted the market growth. Simultaneously, Asia-Pacific would showcase the fastest CAGR of 16.3% throughout the forecast period, due to surge in adoption of web-based & mobile-based business applications in the banking sector and increased focus toward R&D activities in the region.

Need Customized Report? Click Here: https://www.alliedmarketresearch.com/request-for-customization/9091 

Key players in the industry-

• Capital Banking Solutions
• EdgeVerve Systems Limited
• Finastra
• FIS
• Fiserv, Inc.
• NCR Corporation
• Oracle
• SAP SE
• Tata Consultancy Services Limited
• Temenos Headquarters SA.

Access AVENUE - A Subscription-Based Library (Premium On-Demand, Subscription-Based Pricing Model) @ https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request For 14 Days Free Trial of Before Buying:
https://www.alliedmarketresearch.com/avenue/trial/starter

Similar Reports:

Online Banking Market Service Type (Payments, Processing Services, Customer & Channel Management, Wealth Management, and Others), and by Banking Type (Retail Banking, Corporate Banking, and Investment Banking): Global Opportunity Analysis and Industry Forecast, 2020–2027

Digital Banking Platform Market by Component (Solution and Service), Deployment Model (On-Premise and Cloud), Type (Retail Banking and Corporate Banking), and Banking Mode (Online Banking and Mobile Banking): Global Opportunity Analysis and Industry Forecast, 2020–2027

Neo and Challenger Bank Market by Service Type (Loans, Mobile Banking, Checking & Savings Account, Payment & Money Transfer, and Others) and End User (Business and Personal): Global Opportunity Analysis and Industry Forecast, 2020–2027

Predictive Analytics in Banking Market By Component (Solution and Service), Deployment Model (On-Premise and Cloud), Organization Size (Large Enterprise and SME), Application (Fraud Detection and Prevention, Customer Management, Sales and Marketing, Workforce Management and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026

Open Banking Market by Financial Services (Banking and Capital Markets, Payments, Digital Currencies, and Value Added Services) and Distribution Channel (Bank Channel, App market, Distributors, and Aggregators): Global Opportunity Analysis and Industry Forecast, 2019–2026

Mobile Banking Market by Transaction (Consumer-to-consumer and Consumer-to-Business), and Platform (Android, iOS, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026

Pre-Book Now with 10% Discount:

Banking Service Market by Channel (In-Person Banking, Online, Mobile, Telephone, and Video Banking), Service Line (International and Domestic Banking), and End User (Individuals, Corporates, Government, and Investment Institution), Global Opportunity Analysis and Industry Forecast, 2019–2026

Retail Banking Market by Services (Transactional Accounts, Savings Account, Debit Cards, ATM Cards, Credit Cards, Mortgage, Home Loan, and Car Loan) and Type of Banks (Community Development Bank, Private Banks, Public Banks, and NBFC): Global Opportunity Analysis and Industry Forecast, 2019–2026

Commercial Banking Market By Products (Industrial Loans, Project Finance, Syndicated Loans, Leasing, Foreign Trade Financing, and Bills of Exchange), and Functions (Accepting Deposits, Advancing Loans, Credit Creation, Financing Foreign Trade, Agency Services and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027

Investment Banking Market by Service Type (Debt Capital Markets Underwriting, Mergers & Acquisitions Advisory, Equity Capital Markets Underwriting, Syndicated Loans, and Others) and End User (Individuals and Corporate Institutions): Global Opportunity Analysis and Industry Forecast, 2020–2027

Merchant Banking Services Market by Service Type (Trade Financing, Business Restructuring, Portfolio Management, Credit Syndication, IPO Management, and Project Management), Service Provider (Banks, Non-Banking Financial Institutions, and Others), and End User (Business and Individuals): Global Opportunity Analysis and Industry Forecast, 2020–2027

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): 
1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com 
Follow Us on LinkedIn and Twitter

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg