Portland, OR, July 21, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global financial services software market generated $118.65 billion in 2021, and is projected to reach $282.71 billion by 2031, growing at a CAGR of 9.2% from 2022 to 2031. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Surge in the demand for digital channels for banking, enhanced customer services, increase in popularity of workforce optimization solutions, and rise in the adoption of financial services software by various companies to monitor and mitigate risks into mainstream decision-making are expected to drive the growth of the global financial services software market. On the other hand, high cost of deployment is expected to hinder the growth to some extent. However, increase in investment in big data, mobility, and cloud technologies by the fintech companies are expected to create ample opportunities for the industry.
COVID-19 Scenario
- The outbreak of COVID-19 has had a positive impact on the growth of the global financial services software market, owing to the presence of lockdowns in various countries across the globe.
- Lockdowns resulted in the increased demand for financial software services as customers increasingly adopted financial service and financial products to save time and cost.
- In addition, rise in digital innovations in the financial services sector empowered the financial services software market.
- Scope of the Report: -
| Report Attribute | Details |
| Revenue forecast in 2030 | $ 282.71 billion |
| Growth rate | CAGR of 9.2% from 2022 to 2031 |
| Forecast period | 2022 - 2031 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Regional scope | North America, Europe, Asia Pacific, Latin America, MEA |
| Country scope | U.S., Canada, Germany, U.K., France, Italy, Spain, Japan, China, India, South Korea, Australia, Brazil, Mexico, South Africa, Saudi Arabia |
| Key companies profiled | Accenture, Finastra, FIS, FIServ, Inc., IBM Corporation, Infosys, Oracle Corporation, SAP SE, TCS, and Temenos. Access Table PDF |
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The report offers a detailed segmentation on the global financial services software market based on component, software type, deployment model, enterprise size and region.
Based on component, the software segment held the largest market share in 2021, garnering nearly two-third of the global market. The service segment, on the other hand, is predicted to cite the fastest CAGR of 10.8% during the forecast period.
Based on deployment model, the on premise segment held the majority market share in 2021, holding more than half of the global market. The cloud segment, on the other hand, is predicted to cite the fastest CAGR of 10.3% during the forecast period.
Based on region, the market across North America held the lion’s share in 2021, holding more than one-third of the global market. The Asia-Pacific region, on the other hand, is expected to exhibit the fastest CAGR of 12.3% during the forecast period.
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Key players in the industry
- Fiserv, Inc.
- IBM Corporation
- Infosys
- Oracle Corporation
- SAP SE
- TCS
- Accenture plc
- finastra
- FIS
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the global financial services software market forecast along with current & future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, & opportunities and their impact analysis on global financial services software market outlook is provided in the report.
- The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The financial services software market analysis from 2022 to 2031 is provided to determine the market potential.
Key Market Segments
- By Component
- Software
- Service
- By Software Type
- Customer Experience
- Enterprise IT
- Audit, Risk and Compliance Management
- BI and Analytics Applications
- Business Transaction Processing
- By Deployment Model
- On Premise
- Cloud
- By Enterprise Size
- Large Enterprises
- SMEs
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. 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.
