Islamic Banking Software Market to grow by $ 461.83 Mn during 2020-2024 | Rising adoption of cloud-based services to boost growth | Technavio

NEW YORK, June 10, 2021 /PRNewswire/ —
Technavio has been monitoring the Islamic banking…

NEW YORK, June 10, 2021 /PRNewswire/ —

Technavio has been monitoring the Islamic banking software market and it is poised to grow by USD 461.83 million during 2020-2024, progressing at a CAGR of over 13% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Frequently Asked Questions:

  • Based on segmentation by application, which is the leading segment in the market?

    Based on the application, the market saw maximum growth in the retail segment in 2019.
  • What are the major trends in the market?

    The rising adoption of cloud-based services is the major trend in the market.
  • At what rate is the market projected to grow?

    The market is projected to grow at a CAGR of over 13% during the forecast period.
  • Who are the top players in the market?

    ICS Financial Systems Ltd., Infosys Ltd., International Turnkey Systems Group, Nucleus Software Exports Ltd., Oracle Corp. Path Solutions K.S.C.C., SAB Sopra Steria Group, Tata Consultancy Services Ltd., and Temenos AG are the major players in the market.
  • What are the key market drivers and challenges?

    The market is driven by the distribution of smart cards by banks. However, the lack of expertise might hinder the growth.
  • How big is the MEA market?

    The MEA dominated the market with a 54% share in 2019.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ICS Financial Systems Ltd., Infosys Ltd., International Turnkey Systems Group, Nucleus Software Exports Ltd., Oracle Corp. Path Solutions K.S.C.C., SAB Sopra Steria Group, Tata Consultancy Services Ltd., and Temenos AG are some of the major market participants. Although the distribution of smart cards by banks will offer immense growth opportunities, the lack of expertise is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this Islamic banking software market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies. 

Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Islamic Banking Software Market 2020-2024: Segmentation

Islamic Banking Software Market is segmented as below:

  • Application
    • Retail
    • Corporate
    • Others
  • Region
    • APAC
    • Europe
    • MEA
    • North America
    • South America

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43088

Islamic Banking Software Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The Islamic banking software market report covers the following areas:

  • Islamic Banking Software Market Size
  • Islamic Banking Software Market Trends
  • Islamic Banking Software Market Industry Analysis

This study identifies the rising adoption of cloud-based services as one of the prime trends driving the Islamic Banking Software Market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Islamic Banking Software Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist Islamic banking software market growth during the next five years
  • Estimation of the Islamic banking software market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the Islamic banking software market across APAC, Europe, MEA, North America, and South America
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of Islamic banking software market vendors

Table of Contents:

Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 – 2024

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Retail – Market size and forecast 2019-2024
  • Corporate – Market size and forecast 2019-2024
  • Others – Market size and forecast 2019-2024
  • Market opportunity by Application

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • MEA – Market size and forecast 2019-2024
  • APAC – Market size and forecast 2019-2024
  • Europe – Market size and forecast 2019-2024
  • North America – Market size and forecast 2019-2024
  • South America – Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers
  • Volume driver – Demand led growth
  • Volume driver – Supply led growth
  • Volume driver – External factors
  • Volume driver – Demand shift in adjacent markets
  • Price driver – Inflation
  • Price driver – Shift from lower to higher priced units
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • ICS Financial Systems Ltd.
  • Infosys Ltd.
  • International Turnkey Systems Group
  • Nucleus Software Exports Ltd.
  • Oracle Corp.
  • Path Solutions K.S.C.C.
  • SAB
  • Sopra Steria Group
  • Tata Consultancy Services Ltd.
  • Temenos AG

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations


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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Report: www.technavio.com/report/islamic-banking-software-market-industry-analysis

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