Third Party Banking Software Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
The banking industry has experienced massive changes, which has led to the customization of its working methods. Over the past few decades, the banking industry is progressively shifting attention toward third-party banking software because of declining profits, changing customer demands, and the need for flexible operations in terms of time. Several banks are making are adopting third-party banking software systems over traditional ones. With conventional legacy systems, banks often face challenges in the implementation of new features and their integration. Also, any minor change in one application causes difficulties in other parts of the application; thud, banks are shifting toward third-party software to eradicate these complications.
MARKET DYNAMICS
Demand for an increase in operational efficiency and productivity in all industry verticals, including the banking industry, is the prime factor driving the growth of the third-party banking software market. However, the high costs of software and information security are the major factors restraining the growth of the third-party banking software market. Besides, increasing demand for regulated activities in the banking sector and the rising trend of customer-centric core banking are fueling the growth of the third-party banking software market.
MARKET SCOPE
The "Global Third Party Banking Software Market Analysis to 2031" is a specialized and in-depth study of the third party banking software market with a special focus on the global market trend analysis. The report aims to provide an overview of third party banking software market with detailed market segmentation by product type, application. The global third party banking software market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading third party banking software market players and offers key trends and opportunities in the third party banking software market.
MARKET SEGMENTATION
The global third party banking software market is segmented on the basis of product type, application. On the basis of product type, the market is segmented as core banking software, multi-channel banking software, BI software, private wealth management software. On the basis of application, the market is segmented as risk management, information security, business intelligence, training and consulting solutions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global third party banking software market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The third party banking software market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting third party banking software market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the Third party banking software market in these regions.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global third party banking software market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The third party banking software market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting third party banking software market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the Third party banking software market in these regions.
MARKET PLAYERS
The reports cover key developments in the third party banking software market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from third party banking software market are anticipated to lucrative growth opportunities in the future with the rising demand for third party banking software market. Below mentioned is the list of few companies engaged in the third party banking software market.
The report also includes the profiles of key third party banking software market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- ACCENTURE PLC
- CAPGEMINI SE
- DELTEK, INC.
- IBM CORPORATION
- INFOSYS LIMITED
- MICROSOFT CORPORATION
- NETSUITE INC.
- ORACLE CORPORATION
- SAP SE
- TATA CONSULTANCY SERVICES LIMITED.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Third Party Banking Software Market - By Product Type
1.3.2 Third Party Banking Software Market - By Application
1.3.3 Third Party Banking Software Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. THIRD PARTY BANKING SOFTWARE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. THIRD PARTY BANKING SOFTWARE MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. THIRD PARTY BANKING SOFTWARE MARKET - GLOBAL MARKET ANALYSIS
6.1. THIRD PARTY BANKING SOFTWARE - GLOBAL MARKET OVERVIEW
6.2. THIRD PARTY BANKING SOFTWARE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. THIRD PARTY BANKING SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. CORE BANKING SOFTWARE
7.3.1. Overview
7.3.2. Core Banking Software Market Forecast and Analysis
7.4. MULTI-CHANNEL BANKING SOFTWARE
7.4.1. Overview
7.4.2. Multi-Channel Banking Software Market Forecast and Analysis
7.5. BI SOFTWARE
7.5.1. Overview
7.5.2. BI Software Market Forecast and Analysis
7.6. PRIVATE WEALTH MANAGEMENT SOFTWARE
7.6.1. Overview
7.6.2. Private Wealth Management Software Market Forecast and Analysis
8. THIRD PARTY BANKING SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. RISK MANAGEMENT
8.3.1. Overview
8.3.2. Risk Management Market Forecast and Analysis
8.4. INFORMATION SECURITY
8.4.1. Overview
8.4.2. Information Security Market Forecast and Analysis
8.5. BUSINESS INTELLIGENCE
8.5.1. Overview
8.5.2. Business Intelligence Market Forecast and Analysis
8.6. TRAINING AND CONSULTING SOLUTIONS
8.6.1. Overview
8.6.2. Training and Consulting Solutions Market Forecast and Analysis
9. THIRD PARTY BANKING SOFTWARE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Third Party Banking Software Market Overview
9.1.2 North America Third Party Banking Software Market Forecasts and Analysis
9.1.3 North America Third Party Banking Software Market Forecasts and Analysis - By Product Type
9.1.4 North America Third Party Banking Software Market Forecasts and Analysis - By Application
9.1.5 North America Third Party Banking Software Market Forecasts and Analysis - By Countries
9.1.5.1 United States Third Party Banking Software Market
9.1.5.1.1 United States Third Party Banking Software Market by Product Type
9.1.5.1.2 United States Third Party Banking Software Market by Application
9.1.5.2 Canada Third Party Banking Software Market
9.1.5.2.1 Canada Third Party Banking Software Market by Product Type
9.1.5.2.2 Canada Third Party Banking Software Market by Application
9.1.5.3 Mexico Third Party Banking Software Market
9.1.5.3.1 Mexico Third Party Banking Software Market by Product Type
9.1.5.3.2 Mexico Third Party Banking Software Market by Application
9.2. EUROPE
9.2.1 Europe Third Party Banking Software Market Overview
9.2.2 Europe Third Party Banking Software Market Forecasts and Analysis
9.2.3 Europe Third Party Banking Software Market Forecasts and Analysis - By Product Type
9.2.4 Europe Third Party Banking Software Market Forecasts and Analysis - By Application
9.2.5 Europe Third Party Banking Software Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Third Party Banking Software Market
9.2.5.1.1 Germany Third Party Banking Software Market by Product Type
9.2.5.1.2 Germany Third Party Banking Software Market by Application
9.2.5.2 France Third Party Banking Software Market
9.2.5.2.1 France Third Party Banking Software Market by Product Type
9.2.5.2.2 France Third Party Banking Software Market by Application
9.2.5.3 Italy Third Party Banking Software Market
9.2.5.3.1 Italy Third Party Banking Software Market by Product Type
9.2.5.3.2 Italy Third Party Banking Software Market by Application
9.2.5.4 United Kingdom Third Party Banking Software Market
9.2.5.4.1 United Kingdom Third Party Banking Software Market by Product Type
9.2.5.4.2 United Kingdom Third Party Banking Software Market by Application
9.2.5.5 Russia Third Party Banking Software Market
9.2.5.5.1 Russia Third Party Banking Software Market by Product Type
9.2.5.5.2 Russia Third Party Banking Software Market by Application
9.2.5.6 Rest of Europe Third Party Banking Software Market
9.2.5.6.1 Rest of Europe Third Party Banking Software Market by Product Type
9.2.5.6.2 Rest of Europe Third Party Banking Software Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Third Party Banking Software Market Overview
9.3.2 Asia-Pacific Third Party Banking Software Market Forecasts and Analysis
9.3.3 Asia-Pacific Third Party Banking Software Market Forecasts and Analysis - By Product Type
9.3.4 Asia-Pacific Third Party Banking Software Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Third Party Banking Software Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Third Party Banking Software Market
9.3.5.1.1 Australia Third Party Banking Software Market by Product Type
9.3.5.1.2 Australia Third Party Banking Software Market by Application
9.3.5.2 China Third Party Banking Software Market
9.3.5.2.1 China Third Party Banking Software Market by Product Type
9.3.5.2.2 China Third Party Banking Software Market by Application
9.3.5.3 India Third Party Banking Software Market
9.3.5.3.1 India Third Party Banking Software Market by Product Type
9.3.5.3.2 India Third Party Banking Software Market by Application
9.3.5.4 Japan Third Party Banking Software Market
9.3.5.4.1 Japan Third Party Banking Software Market by Product Type
9.3.5.4.2 Japan Third Party Banking Software Market by Application
9.3.5.5 South Korea Third Party Banking Software Market
9.3.5.5.1 South Korea Third Party Banking Software Market by Product Type
9.3.5.5.2 South Korea Third Party Banking Software Market by Application
9.3.5.6 Rest of Asia-Pacific Third Party Banking Software Market
9.3.5.6.1 Rest of Asia-Pacific Third Party Banking Software Market by Product Type
9.3.5.6.2 Rest of Asia-Pacific Third Party Banking Software Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Third Party Banking Software Market Overview
9.4.2 Middle East and Africa Third Party Banking Software Market Forecasts and Analysis
9.4.3 Middle East and Africa Third Party Banking Software Market Forecasts and Analysis - By Product Type
9.4.4 Middle East and Africa Third Party Banking Software Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Third Party Banking Software Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Third Party Banking Software Market
9.4.5.1.1 South Africa Third Party Banking Software Market by Product Type
9.4.5.1.2 South Africa Third Party Banking Software Market by Application
9.4.5.2 Saudi Arabia Third Party Banking Software Market
9.4.5.2.1 Saudi Arabia Third Party Banking Software Market by Product Type
9.4.5.2.2 Saudi Arabia Third Party Banking Software Market by Application
9.4.5.3 U.A.E Third Party Banking Software Market
9.4.5.3.1 U.A.E Third Party Banking Software Market by Product Type
9.4.5.3.2 U.A.E Third Party Banking Software Market by Application
9.4.5.4 Rest of Middle East and Africa Third Party Banking Software Market
9.4.5.4.1 Rest of Middle East and Africa Third Party Banking Software Market by Product Type
9.4.5.4.2 Rest of Middle East and Africa Third Party Banking Software Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Third Party Banking Software Market Overview
9.5.2 South and Central America Third Party Banking Software Market Forecasts and Analysis
9.5.3 South and Central America Third Party Banking Software Market Forecasts and Analysis - By Product Type
9.5.4 South and Central America Third Party Banking Software Market Forecasts and Analysis - By Application
9.5.5 South and Central America Third Party Banking Software Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Third Party Banking Software Market
9.5.5.1.1 Brazil Third Party Banking Software Market by Product Type
9.5.5.1.2 Brazil Third Party Banking Software Market by Application
9.5.5.2 Argentina Third Party Banking Software Market
9.5.5.2.1 Argentina Third Party Banking Software Market by Product Type
9.5.5.2.2 Argentina Third Party Banking Software Market by Application
9.5.5.3 Rest of South and Central America Third Party Banking Software Market
9.5.5.3.1 Rest of South and Central America Third Party Banking Software Market by Product Type
9.5.5.3.2 Rest of South and Central America Third Party Banking Software Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. THIRD PARTY BANKING SOFTWARE MARKET, KEY COMPANY PROFILES
11.1. ACCENTURE PLC
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. CAPGEMINI SE
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. DELTEK, INC.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. IBM CORPORATION
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. INFOSYS LIMITED
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. MICROSOFT CORPORATION
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. NETSUITE INC.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. ORACLE CORPORATION
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SAP SE
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. TATA CONSULTANCY SERVICES LIMITED.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Accenture plc
2. Capgemini SE
3. Deltek, Inc.
4. IBM Corporation
5. Infosys Limited
6.Microsoft Corporation
7. NetSuite Inc.
8. Oracle Corporation
9. SAP SE
10. Tata Consultancy Services Limited.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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