Dublin, Oct. 27, 2023 (GLOBE NEWSWIRE) -- The "Third-party Banking Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global third-party banking software market size reached US$ 26.7 Billion in 2022. Looking forward, the market is set to reach US$ 42.8 Billion by 2028, exhibiting a growth rate (CAGR) of 8.1% during 2023-2028. 
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 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?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 148 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $26.7 Billion |
| Forecasted Market Value (USD) by 2028 | $42.8 Billion |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | Global |
Competitive Landscape
The competitive landscape of the industry has also been examined with some of the key players
- Accenture
- Capgemini
- Deltek
- IBM
- Infosys
- Microsoft Corporation
- NetSuite Inc.
- Oracle Corporation
- SAP SE
- Tata Consultancy Services
Key Market Segmentation
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
For more information about this report visit https://www.researchandmarkets.com/r/oe73vc
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