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Global Financial Services Software Market to reach USD 46.88 billion by the end of 2030.

Global Financial Services Software Market Size Study & Forecast, by Component (Software, Service), By Deployment (Cloud, On-premise), By Enterprise Type (SMEs, Large Enterprises), By Software Type (Customer Experience, Enterprise IT, Audit, Risk and Compliance Management, BI and Analytics Applications, Business Transaction Processing), and Regional Analysis, 2023-2030

Product Code: ICTEITS-83622700
Publish Date: 10-06-2023
Page: 200

Global Financial Services Software Market is valued at approximately USD 129.57 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 9.2% over the forecast period 2023-2030. Financial services software is a computer program and application that is specially created to support organizations that provide financial services, including banks, insurance companies, brokerage houses and investment management businesses. The organization is managed in accordance with shifting demands and trends and it aids businesses in making better financial choices with the least amount of expense and effort as risks are monitored. Financial services software is used to manage customer relationships, including customer data, interactions, and preferences. The increasing demand for automation, rapid digitalization and growing trend of automation is the most prominent factors propelling the market demand across the globe.

Additionally, the rising emergence of Fintech companies is playing a vital role, which is leading the market development during the estimated period. Fintech companies are specialized in creating technological solutions that assist businesses in managing their financial operations using new software, apps, procedures, and business models. Additionally, fintech companies have dramatically boosted their investment over the past ten years, which is likely to fuel the global market. According to Statista, in 2018, there were nearly 5,686 fintech startups present in America 3,581 in the EMEA region (Europe, the Middle East, and Africa), and 2,864 in Asia Pacific. The number of fintech startups increased and reach 10,775 startups in America, 9,323 startups in the EMEA, and 6,268 in the Asia Pacific region in the year 2021. Thereby, the emergence of fintech companies is driving innovation in the financial services industry and financial services software is a key component of many fintech solutions. Moreover, the increasing adoption of digital channels for banking, as well as the rise in investment in novel technologies presents various lucrative opportunities over the forecast years. However, the increase in the cost of deployment and regulatory compliances are hindering the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Financial Services Software Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the supportive government initiatives to support an open banking system, rising emphasis on the integration of advanced technologies, and the presence of leading companies. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. Rapid digitalization, regulatory compliance, adoption of cloud-based deployment options and rising need for data analytics are significantly propelling the market demand across the region.

Major market players included in this report are:
Fiserv, Inc.
IBM Corporation
Infosys Limited
Oracle Corporation
Tata Consultancy Services
Accenture plc
FIS, Inc.
NCR Corporation

Recent Developments in the Market:
Ø In March 2023, SAP Fioneer- a global provider of financial services software solutions unveiled the introduction of the “Fioneer Embedded Finance as a Service” (EFaaS), the B2B embedded finance platform facilitating orchestration between SAP users and Financial Service Institutions (FSIs).

Global Financial Services Software Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Component, Deployment, Enterprise Type, Software Type, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component:

By Deployment:

By Enterprise Type:
Large Enterprises

By Software Type:
Customer Experience
Enterprise IT
Audit, Risk and Compliance Management
BI and Analytics Applications
Business Transaction Processing

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Financial Services Software Market, by region, 2020-2030 (USD Billion)
1.2.2. Financial Services Software Market, by Component, 2020-2030 (USD Billion)
1.2.3. Financial Services Software Market, by Deployment, 2020-2030 (USD Billion)
1.2.4. Financial Services Software Market, by Enterprise Type, 2020-2030 (USD Billion)
1.2.5. Financial Services Software Market, by Software Type, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Financial Services Software Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Financial Services Software Market Dynamics
3.1. Financial Services Software Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Growing trend of automation Rising emergence of Fintech companies
3.1.2. Market Challenges Increase in the cost of deployment Regulatory compliances
3.1.3. Market Opportunities Increasing adoption of digital channels for banking Rise in investment in novel technologies
Chapter 4. Global Financial Services Software Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economic
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Financial Services Software Market, by Component
5.1. Market Snapshot
5.2. Global Financial Services Software Market by Component, Performance – Potential Analysis
5.3. Global Financial Services Software Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
5.4. Financial Services Software Market, Sub Segment Analysis
5.4.1. Software
5.4.2. Service
Chapter 6. Global Financial Services Software Market, by Deployment
6.1. Market Snapshot
6.2. Global Financial Services Software Market by Deployment, Performance – Potential Analysis
6.3. Global Financial Services Software Market Estimates & Forecasts by Deployment 2020-2030 (USD Billion)
6.4. Financial Services Software Market, Sub Segment Analysis
6.4.1. Cloud
6.4.2. On-premise
Chapter 7. Global Financial Services Software Market, by Enterprise Type
7.1. Market Snapshot
7.2. Global Financial Services Software Market by Enterprise Type, Performance – Potential Analysis
7.3. Global Financial Services Software Market Estimates & Forecasts by Enterprise Type 2020-2030 (USD Billion)
7.4. Financial Services Software Market, Sub Segment Analysis
7.4.1. SMEs
7.4.2. Large Enterprises
Chapter 8. Financial Services Software Market, by Software Type
8.1. Market Snapshot
8.2. Global Financial Services Software Market by Software Type, Performance – Potential Analysis
8.3. Global Financial Services Software Market Estimates & Forecasts by Software Type 2020-2030 (USD Billion)
8.4. Financial Services Software Market, Sub Segment Analysis
8.4.1. Customer Experience
8.4.2. Enterprise IT
8.4.3. Audit, Risk and Compliance Management
8.4.4. BI and Analytics Applications
8.4.5. Business Transaction Processing
Chapter 9. Global Financial Services Software Market, Regional Analysis
9.1. Top Leading Countries
9.2. Top Emerging Countries
9.3. Financial Services Software Market, Regional Market Snapshot
9.4. North America Financial Services Software Market
9.4.1. U.S. Financial Services Software Market Component breakdown estimates & forecasts, 2020-2030 Deployment breakdown estimates & forecasts, 2020-2030 Enterprise Type breakdown estimates & forecasts, 2020-2030 Software Type breakdown estimates & forecasts, 2020-2030
9.4.2. Canada Financial Services Software Market
9.5. Europe Financial Services Software Market Snapshot
9.5.1. U.K. Financial Services Software Market
9.5.2. Germany Financial Services Software Market
9.5.3. France Financial Services Software Market
9.5.4. Spain Financial Services Software Market
9.5.5. Italy Financial Services Software Market
9.5.6. Rest of Europe Financial Services Software Market
9.6. Asia-Pacific Financial Services Software Market Snapshot
9.6.1. China Financial Services Software Market
9.6.2. India Financial Services Software Market
9.6.3. Japan Financial Services Software Market
9.6.4. Australia Financial Services Software Market
9.6.5. South Korea Financial Services Software Market
9.6.6. Rest of Asia Pacific Financial Services Software Market
9.7. Latin America Financial Services Software Market Snapshot
9.7.1. Brazil Financial Services Software Market
9.7.2. Mexico Financial Services Software Market
9.8. Middle East & Africa Financial Services Software Market
9.8.1. Saudi Arabia Financial Services Software Market
9.8.2. South Africa Financial Services Software Market
9.8.3. Rest of Middle East & Africa Financial Services Software Market

Chapter 10. Competitive Intelligence
10.1. Key Company SWOT Analysis
10.1.1. Company 1
10.1.2. Company 2
10.1.3. Company 3
10.2. Top Market Strategies
10.3. Company Profiles
10.3.1. Fiserv, Inc. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.3.2. IBM Corporation
10.3.3. Infosys Limited
10.3.4. Oracle Corporation
10.3.5. SAP SE
10.3.6. Tata Consultancy Services
10.3.7. Accenture plc
10.3.8. Finastra
10.3.9. FIS Inc.
10.3.10. NCR Corporation
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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