Financial Services Application Software Market : Current Scenario and Forecast (2019-2025): Emphasis on Software Type (Payment Gateway, Budgeting, Financial Forecasting, Bookkeeping, Financial Management, Others), Deployment Type (On-Premises, Hosted), Service (Consulting, Integration, Training and Support, Operations and Maintenance), End-Users (SMEs, Large Enterprises) and Region
- UNI4065892
- 222 Pages
- October 2019
- BFSI
“Amongst Software type, Payment gateway is projected to dominate the Global Financial Service Application Software market by 2025.”
Based on software type the global financial service application software market is bifurcated into the Payment gateway, Budgeting, Financial forecasting, Bookkeeping, Financial Management and others. Currently, Payment Gateways segment dominates the market with 32.7% share in 2018.
“On-Premises deployment of financial application software dominates the market in 2018, however, hosted deployment would overtake it to become the most preferred software deployment type”
On the basis of deployment, the global Financial Service Application Software market is segmented into On-premises and hosted. Currently, the On-Premises deployment occupies 50.2% share, however, post-2018 hosted deployment of software would overtake the on-premises deployment owing to low cost and lowering security issue.
“Amongst services type, consulting services holds the major share in the global financial service application software market.”
Financial Service Application Software market holds a wide range of services namely consulting services, integration services, training and support services, operations and maintenance and others. Consulting services dominates the market in 2018 and is expected to remain dominant throughout the forecast period 2019-2025
“Large Enterprises were the major user of financial services application software, however in coming years SME’s would increase the penetration level for these types of software.”
SBM’s and larger enterprises are the two major end-users of the financial services application software. Currently, Large enterprises dominate the market and are expected to remain dominant throughout the analyzed period 2019-2025
“North America dominates the market with a 39.2% share, followed with Europe and Asia-Pacific”
For a deep-dive analysis of the industry, the study also includes regional-level analysis of the overall adoption and penetration of Financial Service Application Software in major regions including North America, Europe, Asia Pacific, MENA and Latin America. Currently, North America dominates the market, however, Asia-Pacific is expected to witness highest CAGR growth during the forecast period 2019-2025.
Competitive Landscape-Top 10 Market Players
FIS Global, Fiserv, Microsoft, Salesforce, IBM Corporation, Infosys Ltd., NCR Corporation, SS&C Technology Holdings, Oracle, SAP SE, Temenos and TCS Ltd corporation are some of the prominent players operating in the Global Financial Service Application Software industry. Recently the industry has witnessed several M&As along with partnerships, which have been undertaken by market players to sustain in the ever-growing financial service application software market.
Reasons to buy:
• Current and future market size from 2018 to 2025 in terms of value (US$)
• Combined analysis of deep-dive secondary research and input from primary research through Key Opinion Leaders of the industry
• Detailed analysis of the banking/financial sector in different region/country
• A quick review of overall industry performance at a glance
• In-depth analysis of key industry players
• A detailed analysis of regulatory framework, drivers, restraints, key trends and opportunities prevailing in the industry
• Examination of industry attractiveness with the help of Porter’s Five Forces analysis and start-ups
• The study comprehensively covers the market across different segments and sub-segments of the technology
• Region Covered: North America, Europe, Asia-Pacific, MENA and Latin America
Customization Options:
UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients. The Global Financial Service Application Software Market can be customized to the country level or any other market segment.
1.1 Market Definition 17
1.2 Objective of the Study 17
1.3 Limitation 17
1.4 Stakeholders 17
1.5 Currency used in the Report 18
1.6 Scope of the Global Financial Service Application Software Market Study 18
2. RESEARCH METHODOLOGY OR ASSUMPTION 19
2.1 Research Methodology for Global Financial Service Application Software Market Study 19
2.1.1 Main objective of Global Financial Service Application Software Market Study 20
3. REGULATORY FRAMEWORK 21
3.1 General Overview 21
3.1.1 North America Regulation for Financial Services 21
3.1.2 Europe Regulation for Financial Services 22
3.1.3 Asia-Pacific Regulation for Financial Services 22
3.1.4 MENA Regulation for Financial Services 22
3.1.5 Latin America Regulation for Financial Services 23
4. INDUSTRY PERFORMANCE 24
5. EXECUTIVE SUMMARY 26
6. MARKET OVERVIEW 29
6.1 Introduction 29
6.2 Market Trend & Drivers 30
6.2.1 Increasingly Large number of Financial Institutions 30
6.2.2 Increasing Technological Awareness 30
6.2.3 Expanding Digitalization and Innovation 30
6.2.4 Increasing Importance for Independent and Easy Banking Services 31
6.2.5 Surging Demand for Workforce Optimization Solutions 32
6.2.6 Enhanced Focus on Customer Experience 33
6.2.7 The emergence of Digital Channels for Banking 37
6.3 Insights into Mobile Banking 37
6.3.1 Top Digital Banking Trends 37
6.4 Market Restraints 39
6.4.1 High Cost of Deployment 39
6.4.2 Increasing Security Concerns regarding App Permissions 42
6.4.3 Adhering to Different Political Factors and Regulatory Compliances 42
6.4.4 Low Consumer and Investor Confidence 43
6.5 Technologies Shaping the Future of Banking 44
6.5.1 Hybrid Cloud 44
6.5.2 API Platforms 45
6.5.3 Robotic Process Automation (RPA) 45
6.5.4 Instant Payments 46
6.5.5 Artificial Intelligence (AI) 46
6.5.6 Blockchain 47
6.5.7 Prescriptive Security 48
6.5.8 Augmented and Virtual Reality 48
6.5.9 Quantum Computing 48
6.5.10 Smart Machines 49
6.5.11 Status of Financial Sector in the Digital Space 49
7. KEY MARKET INDICATORS 51
7.1 Demand and Supply Side Analysis 51
7.1.1 Demand Side Analysis 51
7.1.2 Supply Side Analysis 53
7.1.2.1 Top Product launches/Innovations 53
7.1.2.2 Partnership 60
7.1.2.3 Business Expansion and Investment 64
7.1.2.4 Merger and Acquisitions 69
7.1.3 Top Emerging Players in Financial Application Software Market 72
7.1.3.1 Hover 72
7.1.3.2 Sokowatch 72
7.1.3.3 PayAgri 72
7.1.3.4 Leaf 73
7.1.3.5 Banco Mare 73
8. MARKET INSIGHTS, BY TYPE 74
8.1 General Overview 74
8.1.1 Payment Gateways 74
8.1.2 Budgeting 76
8.1.3 Financial Forecasting 81
8.1.4 Bookkeeping 83
8.1.5 Financial Management 87
8.1.6 Others Financial Services 89
9. MARKET INSIGHTS, BY DEPLOYMENT TYPE 92
9.1 General Overview 92
9.1.1 On-Premises Software Deployment 93
9.1.2 Hosted Software Deployment 94
10. MARKET INSIGHTS, BY SERVICES 96
10.1 General Overview 96
10.1.1 Consulting Services 97
10.1.1.1 The Consulting Services Model 97
10.1.2 Integration Services 99
10.2 Training and Support Services 102
10.2.1 Operations and Maintenance 103
10.1.2.1 Advantages of Operations and Maintenance 103
10.1.2.2 Disadvantages of Operations and Maintenance 103
11. MARKET INSIGHTS, BY END-USER 105
11.1 General Overview 105
11.1.1 Small & Medium Business (SMB’s) 106
11.1.1.1 Type of SME Financing needed 107
11.1.1.2 Economic Contribution of SME’s 108
11.1.2 Large Enterprises 110
12. MARKET INSIGHTS, BY REGION 112
12.1 General Overview 112
12.1.1 North America Financial Services Application Market 113
12.1.1.1 North America Financial Service Application Software Market, by Type 114
12.1.1.2 North America Financial Service Software Market, by Deployment Type 114
12.1.1.3 North America Financial Service Application Software Market, by Service 115
12.1.1.4 North America Financial Service Application Software Market, by End-users 115
12.1.2 Europe Financial Services Application Market Insights 116
12.1.3.1 Europe Financial Service Application Software Market, by Type 118
12.1.3.2 Europe Financial Service Application Software Market, by Deployment Type 118
12.1.3.3 Europe Financial Service Application Software Market, by Service 119
12.1.3.4 Europe Financial Service Application Software Market, by End-users 119
12.1.3 Asia-Pacific Financial Services Application Market Insights 120
12.1.3.1 Differing definitions of SMEs in South-East Asia 121
12.1.3.2 Asia-Pacific Financial Service Application Software Market, by Type 123
12.1.3.3 APAC Financial Service Application Software Market, by Deployment Type 124
12.1.3.4 Asia-Pacific Financial Service Application Software Market, by Service 124
12.1.3.5 Asia-Pacific Financial Service Application Software Market, by End-users 125
12.1.4 MENA Financial Services Application Market Insights 125
12.1.4.1 MENA Financial Service Application Software Market, by Type 127
12.1.4.2 MENA Financial Service Application Software Market, by Deployment Type 127
12.1.4.3 MENA Financial Service Application Software Market, by Service 128
12.1.4.4 MENA Financial Service Application Software Market, by End-users 128
12.1.5 Latin America Financial Services Application Market Insights 129
12.1.5.1 Latin America Financial Service Application Software Market, by Type 130
12.1.5.2 LATAMFinancial Service Application Software Market, by Deployment Type 131
12.1.5.3 Latin America Financial Service Application Software Market, by Service 131
12.1.5.4 LATAM Financial Service Application Software Market, by End-users 132
13. COMPETITIVE SCENARIO 133
13.1 Porter’s Five Forces Analysis 133
13.1.1 Bargaining power of Buyer 133
13.1.2 Bargaining power of the Supplier 134
13.1.3 Threat of new entrants 134
13.1.4 Availability of Substitute 134
13.1.5 Industry Rivalry 135
13.2 Global Financial Service Application Software Market Share Analysis, 2018 136
14. COMPANY PROFILES 137
14.1 FIS Global 137
14.1.1 Key Facts 137
14.1.2 Business Description 137
14.1.3 Key Product/Services Offerings 138
14.1.4 Growth Strategy 138
14.1.5 SWOT Analysis 139
14.1.6 Key Financials 140
14.1.7 Revenue Split 141
14.1.8 Product Launch 141
14.1.9 Partnership 142
14.1.10 Business Expansion and Investment 142
14.1.11 Merger and Acquisitions 142
14.2 Fiserv Inc. 143
14.2.1 Key Facts 143
14.2.2 Business Description 143
14.2.3 Key Product/Services Offerings 144
14.2.4 Growth Strategy 144
14.2.5 SWOT Analysis 145
14.2.6 Key Financials 146
14.2.7 Revenue Split 147
14.2.8 Product Launch 147
14.2.9 Partnership 148
14.2.10 Business Expansion and Investment 149
14.2.11 Merger and Acquisition 149
14.3 NCR Corporation 151
14.3.1 Key Facts 151
14.3.2 Business Description 151
14.3.3 Key Product/Services Offerings 152
14.3.4 Growth Strategy 152
14.3.5 SWOT Analysis 153
14.3.6 Key Financials 154
14.3.7 Revenue Split 155
14.3.8 Product Launches 155
14.3.9 Partnership 156
14.3.10 Business Expansion and Investment 156
14.3.11 Merger and Acquisition 157
14.4 SS&C Technologies Holdings, Inc. 158
14.4.1 Key Facts 158
14.4.2 Business Description 158
14.4.3 Key Product/Services Offerings 159
14.4.4 Growth Strategy 160
14.4.5 SWOT Analysis 160
14.4.6 Key Financials 161
14.4.7 Revenue Split 162
14.4.8 Product Launch 162
14.4.9 Partnership 163
14.4.10 Business Expansion and Investment 163
14.4.11 Merger and Acquisition 164
14.5 Infosys Ltd 165
14.5.1 Key Facts 165
14.5.2 Business Description 165
14.5.3 Key Product/Services Offerings 166
14.5.4 Growth Strategy 166
14.5.5 SWOT Analysis 167
14.5.6 Key Financials 168
14.5.7 Revenue Split 169
14.5.8 Product Launch 169
14.5.9 Partnership 170
14.6 Oracle Corporation 171
14.6.1 Key Facts 171
14.6.2 Business Description 171
14.6.3 Key Product/Services Offerings 172
14.6.4 Growth Strategy 172
14.6.5 SWOT Analysis 173
14.6.6 Key Financials 174
14.6.7 Revenue Split 175
14.6.8 Product Launch 175
14.6.9 Business Expansion and Investment 176
14.7 SAP SE 178
14.7.1 Key Facts 178
14.7.2 Business Description 178
14.7.3 Key Product/Services Offerings 179
14.7.4 Growth Strategy 179
14.7.5 SWOT Analysis 180
14.7.6 Key Financials 181
14.7.7 Revenue Split 182
14.7.8 Product Launch 182
14.7.9 Partnership 183
14.8 TCS Ltd. 184
14.8.1 Key Facts 184
14.8.2 Business Description 184
14.8.3 Key Product/Services Offerings 185
14.8.4 Growth Strategy 185
14.8.5 SWOT Analysis 186
14.8.6 Key Financials 187
14.8.7 Revenue Split 188
14.8.8 Product Launch 188
14.8.9 Business Expansion and Investment 189
14.8.10 Mergers and Acquisition 190
14.9 Temenos Group AG 191
14.9.1 Key Facts 191
14.9.2 Business Description 191
14.9.3 Key Product/Services Offerings 192
14.9.4 Growth Strategy 192
14.9.5 SWOT Analysis 193
14.9.6 Key Financials 194
14.9.7 Revenue Split 195
14.9.8 Product Launch 195
14.9.9 Partnerships 196
14.9.10 Business Expansion and Investment 197
14.10 Microsoft Corporation 199
14.10.1 Key Facts 199
14.10.2 Business Description 199
14.10.3 Key Product/Services Offerings 200
14.10.4 Growth Strategy 200
14.10.5 SWOT Analysis 201
14.10.6 Key Financials 202
14.10.7 Revenue Split 203
14.10.8 Partnership 203
14.10.9 Business Expansion and Investment 204
14.10.10 Mergers and Acquisition 205
14.11 IBM Corporation 206
14.11.1 Key Facts 206
14.11.2 Business Description 206
14.11.3 Key Product/Services Offerings 206
14.11.4 Growth Strategy 207
14.11.5 SWOT Analysis 207
14.11.6 Key Financials 208
14.11.7 Revenue Split 209
14.11.8 Product Launch 209
14.11.9 Partnerships 211
14.11.10 Business Expansion and Investment 212
14.12 Salesforce.com 214
14.12.1 Key Facts 214
14.12.2 Business Description 214
14.12.3 Key Product/Services Offerings 215
14.12.4 Growth Strategy 215
14.12.5 SWOT Analysis 216
14.12.6 Key Financials 217
14.13.5 Revenue Split 218
14.13.9 Product Launch 218
14.13.10 Partnerships 219
TABLE 2 Product Launch in Financial Services Application Software Market 53
TABLE 3 Partnership in Financial Services Application Software Market 60
TABLE 4 Business Expansion and Investment in Financial Services Application Software Market 64
TABLE 5 Merger and Acquisitions in Financial Services Application Software Market 69
TABLE 6 Global Financial Service Application Software Market Size, by Type 2018-25 (US$ Billion) 74
TABLE 7 North America Financial Service Application Software Market, by Type 2018-25 (US$ Billion) 114
TABLE 8 Europe Financial Service Application Software Market, by Type 2018-25 (US$ Billion) 118
TABLE 9 Differing definitions of SMEs in South-East Asia 121
TABLE 10 Asia-Pacific Financial Service Application Software Market, by Type 2018-25 (US$ Billion) 123
TABLE 11 MENA Financial Service Application Software Market, by Type 2018-25 (US$ Billion) 127
TABLE 12 Latin America Financial Service Application Software Market, by Type 2018-25 (US$ Billion) 130
TABLE 13 FIS Global Key Facts 137
TABLE 14 Solutions segmentation of FIS Global 138
TABLE 15 FIS Global Growth Strategy 138
TABLE 16 FIS Global Product Launch 141
TABLE 17 FIS Global Partnership 142
TABLE 18 FIS Global Business Expansion and Investment 142
TABLE 19 FIS Global Merger and Acquisitions 142
TABLE 20 Fiserv Inc. Key Facts 143
TABLE 21 Solutions segmentation of Fiserv 144
TABLE 22 Fiserv Inc. Growth Strategy 144
TABLE 23 Fiserv Product Launch 147
TABLE 24 Fiserv Partnership 148
TABLE 25 Fiserv Business Expansion and Investment 149
TABLE 26 Fiserv Merger and Acquisition 149
TABLE 27 NCR Corporation Key Facts 151
TABLE 28 Solutions segmentation of NCR Corporation 152
TABLE 29 NCR Corporation Growth Strategy 152
TABLE 30 NCR Corporation Product Launches 155
TABLE 31 NCR Corporation Partnership 156
TABLE 32 NCR Corporation Business Expansion and Investment 156
TABLE 33 NCR Corporation Merger and Acquisition 157
TABLE 34 SS&C Technologies Holdings, Inc. Key Facts 158
TABLE 35 Solutions segmentation of SS&C Technologies Holdings, Inc. 159
TABLE 36 SS&C Technologies Holdings, Inc. Growth Strategy 160
TABLE 37 SS&C Product Launch 162
TABLE 38 SS&C Partnership 163
TABLE 39 SS&C Business Expansion and Investment 163
TABLE 40 SS&C Merger and Acquisition 164
TABLE 41 Infosys Ltd Key Facts 165
TABLE 42 The product segmentation of Infosys Ltd 166
TABLE 43 Infosys Ltd Growth Strategy 166
TABLE 44 Infosys Product Launch 169
TABLE 45 Infosys Partnership 170
TABLE 46 Oracle Corporation Key Facts 171
TABLE 47 The product segmentation of Oracle Corporation 172
TABLE 48 Oracle Growth Strategy 172
TABLE 49 Oracle Product Launch 175
TABLE 50 Oracle Business Expansion and Investment 176
TABLE 51 SAP SE Key Facts 178
TABLE 52 The product segmentation of SAP SE 179
TABLE 53 SAP SE Growth Strategy 179
TABLE 54 SAP SE Product Launch 182
TABLE 55 SAP SE Partnership 183
TABLE 56 TCS Ltd. Key Facts 184
TABLE 57 The product segmentation of TCS 185
TABLE 58 TCS Growth Strategy 185
TABLE 59 TCS Product Launch 188
TABLE 60 TCS Business Expansion and Investment 189
TABLE 61 TCS Mergers and Acquisition 190
TABLE 62 Temenos Group AG Key Facts 191
TABLE 63 The product segmentation of Temenos Group 192
TABLE 64 Temenos Group Growth Strategy 192
TABLE 65 Temenos Group Product Launch 195
TABLE 66 Temenos Group Partnerships 196
TABLE 67 Temenos Group Business Expansion and Investment 197
TABLE 68 Microsoft AG Key Facts 199
TABLE 69 The product segmentation of Microsoft 200
TABLE 70 Microsoft Growth Strategy 200
TABLE 71 Microsoft Partnership 203
TABLE 72 Microsoft Business Expansion and Investment 204
TABLE 73 Microsoft Mergers and Acquisition 205
TABLE 74 IBM Corporation Key Facts 206
TABLE 75 Product Segmentation of IBM Corporation 206
TABLE 76 IBM Corporation Growth Strategy 207
TABLE 77 IBM Product Launch 209
TABLE 78 IBM Partnerships 211
TABLE 79 IBM Business Expansion and Investment 212
TABLE 80 Salesforce Key Facts 214
TABLE 81 Products Segmentation of Salesforce 215
TABLE 82 Salesforce Growth Strategy 215
TABLE 83 Salesforce Product Launch 218
TABLE 84 Salesforce Partnerships 219
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