Third-party Banking Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:
The global third-party banking software market size reached US$ 26.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 42.8 Billion by 2028, exhibiting a growth rate (CAGR) of 8.1% during 2023-2028.
The third-party banking software refers to a multi-channel application that performs numerous core banking functions, private wealth management and business intelligence. It is an integrated and customized software solution that outsources and provides end-to-end omnichannel management of banking operations. It is primarily used by commercial, retail and trading banks for improving their interbank network and streamlining their operations. The software aids in minimizing losses due to human errors, maintaining flexibility in operations, improving customer experience and enabling banks to have a competitive edge over other financial institutions.
Third-party Banking Software Market Trends:
Significant growth in the banking, financial services and insurance (BFSI) industry is one of the key factors driving the growth of the market. Furthermore, the integration of various cloud-computing applications with banking software is also providing a boost to the market growth. In comparison to the traditionally used manual methods, there is an increasing preference for computerized accounting for bookkeeping and monetary transactions. In line with this, consumers are also more inclined toward accessing their account details and performing financial transactions using their smartphones, laptop and tablets. Additionally, technological advancements, such as the incorporation of big data analytics in third-party banking software, is creating a positive impact on the market. These analytical tools aid in processing large amounts of data and making efficient business decisions to increase profitability and identify market trends, thus enabling access to valuable insights for effective decision-making. Other factors, including the emerging trend of customer-centric core banking and the growing demand for standardized processes in the banking sector, are projected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global third-party banking software market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, deployment type, application and end-user.
Breakup by Product:
Core Banking Software
Multi-Channel Banking Software
Business Intelligence Software
Others
Breakup by Deployment Type:
On-premises
Cloud-based
Breakup by Application:
Risk Management
Information Security
Business Intelligence
Others
Breakup by End-User:
Commercial Banks
Retail and Trading Banks
Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Accenture, Capgemini, Deltek, IBM, Infosys, Microsoft Corporation, NetSuite Inc., Oracle Corporation, SAP SE, Tata Consultancy Services, etc.
Key Questions Answered in This Report:
How has the global third-party banking software market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global third-party banking software market?
What is the breakup of the market based on the product?
What is the breakup of the market based on the deployment type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end-user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global third-party banking software market and who are the key players?
What is the degree of competition in the industry?
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global Third-party Banking Software Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact Of COVID-19
- 5.4 Market Forecast
- 6 Market Breakup by Product
- 6.1 Core Banking Software
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Multi-Channel Banking Software
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Business Intelligence Software
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Others
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 7 Market Breakup by Deployment Type
- 7.1 On-premises
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Cloud-based
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 8 Market Breakup by Application
- 8.1 Risk Management
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Information Security
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Business Intelligence
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Others
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 9 Market Breakup by End-User
- 9.1 Commercial Banks
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Retail and Trading Banks
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.2 Asia Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
- 11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
- 12 Value Chain Analysis
- 13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
- 14 Price Indicators
- 15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 Accenture
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.1.3 Financials
- 15.3.1.4 SWOT Analysis
- 15.3.2 Capgemini
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.2.3 Financials
- 15.3.2.4 SWOT Analysis
- 15.3.3 Deltek
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.4 IBM
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.4.3 Financials
- 15.3.4.4 SWOT Analysis
- 15.3.5 Infosys
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.5.3 Financials
- 15.3.5.4 SWOT Analysis
- 15.3.6 Microsoft Corporation
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.6.3 Financials
- 15.3.6.4 SWOT Analysis
- 15.3.7 NetSuite Inc.
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.7.3 SWOT Analysis
- 15.3.8 Oracle Corporation
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.8.3 Financials
- 15.3.8.4 SWOT Analysis
- 15.3.9 SAP SE
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.9.3 Financials
- 15.3.9.4 SWOT Analysis
- 15.3.10 Tata Consultancy Services
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
- 15.3.10.3 Financials
- 15.3.10.4 SWOT Analysis
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