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Global Islamic Banking Software Market 2017-2021

Global Islamic Banking Software Market 2017-2021

About Islamic Banking Software

Islamic banking software refers to the banking software that functions according to the Shariah norms for managing and monitoring banking operations. To calculate the market size, we have considered the revenue generated from the sales of Islamic banking software offered by the vendors. Integrated solutions are not included in the software suites. Reseller revenues are also not considered as part of the market revenue. The report includes software sales for retail banking, corporate banking, capital markets, dealing, brokerage, and investment banking.

Technavio’s analysts forecast the global islamic banking software market to grow at a CAGR of 12.6% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global islamic banking software market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Islamic Banking Software Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • ITS
  • Oracle
  • Path Solutions
  • Temenos
Other prominent vendors
  • AutoSoft Dynamics
  • BML Istisharat
  • EdgeVerve (an Infosys company)
  • ICS Financial Systems
  • INFOPRO
  • Infrasoft Technologies
  • Intertech
  • Millennium Information Solution
  • Misys
  • Nucleus Software Exports
  • SAB
  • Silverlake Axis
  • Sopra Banking Software
  • Tata Consultancy Services
  • VIRMATI SOFTWARE & TELECOMMUNICATIONS
Market driver
  • Increasing Sukuk issuance
  • For a full, detailed list, view our report
Market challenge
  • System integration and interoperability issues
  • For a full, detailed list, view our report
Market trend
  • Adoption of blockchain technology
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Press Release

Technavio Announces the Publication of its Research Report – Global Islamic Banking Software Market 2017-2021

Technavio recognizes the following companies as the key players in the global islamic banking software market: ITS, Oracle, Path Solutions, and Temenos.

Other Prominent Vendors in the market are: AutoSoft Dynamics, BML Istisharat, EdgeVerve (an Infosys company), ICS Financial Systems, INFOPRO, Infrasoft Technologies, Intertech, Millennium Information Solution, Misys, Nucleus Software Exports, SAB, Silverlake Axis, Sopra Banking Software, Tata Consultancy Services, and VIRMATI SOFTWARE & TELECOMMUNICATIONS.

Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is adoption of blockchain technology. Blockchain technology is enabled using digital transformation. The digital transformation of the industry verticals such as BFSI and manufacturing sector is driving the blockchain technology market.”

According to the report, one driver in the market is increasing Sukuk issuance. Sukuk commonly refers to the Islamic equivalent of bonds. However, as opposed to conventional bonds, which merely confer ownership of the debt, Sukuk grants the investor a share of an asset along with the commensurate cash flows and risks. Sukuk securities adhere to Islamic laws, sometimes referred to as Shariah principles, which prohibit the charging or payment of interest. The Sukuk growth rate is currently 10%-15% in the global financial markets. With the increasing number of Sukuk issuance, it is difficult for banks and financial organizations to monitor and manage them.

Further, the report states that one challenge in the market is system integration and interoperability issues. The adoption of advanced technologies in many industry verticals, including BFSI, telecom, and public sectors, is increasing significantly. This gives rise to issues related to system integration and interoperability. The vendors should provide unified IT solutions that can be seamlessly integrated with the IT infrastructure of organizations. Technical glitches during the operations can incur a cost to the organization and reduce their operational efficiencies. System integration and interoperability issues mostly arise when organizations update their IT systems or merge their existing IT infrastructure with the acquired companies' IT infrastructure.

Companies Mentioned

ITS, Oracle, Path Solutions, and Temenos, AutoSoft Dynamics, BML Istisharat, EdgeVerve (an Infosys company), ICS Financial Systems, INFOPRO, Infrasoft Technologies, Intertech, Millennium Information Solution, Misys, Nucleus Software Exports, SAB, Silverlake Axis, Sopra Banking Software, Tata Consultancy Services, and VIRMATI SOFTWARE & TELECOMMUNICATIONS.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Market outline
      • Table Difference between conventional and Islamic banking
  • Islamic banking market overview
    • Islamic finance ecosystem
      • Table Islamic finance ecosystem
      • Table Islamic financing industry by components 2016 (% share of revenue)
  • Market landscape
    • Market overview
      • Table Market overview
    • Product life cycle
      • Table Product life cycle of Islamic banking software 2016
    • Market size and forecast
      • Table Global Islamic banking software market 2016-2021 ($ millions)
      • Table Islamic banking assets for leading countries 2016 ($ billions)
      • Table Islamic banking penetration and Islamic asset comparison 2016
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by applications
    • Global Islamic banking software market by application
      • Table Global Islamic banking software market by application 2016 (% share of revenue)
      • Table Global Islamic banking software market by application 2016-2021 (% share ofrevenue)
    • Global retail Islamic banking software market
      • Table Global retail Islamic banking software market 2016-2021 ($ millions)
    • Global corporate Islamic banking software market
      • Table Global corporate Islamic banking software market 2016-2021 ($ millions)
  • Geographical segmentation
    • Global Islamic banking software market by geography
      • Table Global Islamic banking software by geography 2016 (% share of revenue)
      • Table Global Islamic banking software by geography 2016-2021 (% share of revenue)
    • Islamic banking software market in EMEA
      • Table Islamic banking software market in EMEA 2016-2021 ($ millions)
    • Islamic banking software market in APAC
      • Table Islamic banking software market in APAC 2016-2021 ($ millions)
    • Islamic banking software market in Americas
      • Table Islamic banking software market in Americas 2016-2021 ($ millions)
  • Key leading countries
    • Table Key leading countries 2016
    • Table List of Islamic banks in the top three countries 2016
    • Saudi Arabia
    • Malaysia
    • UAE
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
  • Market trends
    • Adoption of blockchain technology
    • Advent of big data and analytics
    • Adoption of cloud-based services
    • Advent of GIS technology in banking
  • Buying criteria
    • Table Buying criteria
  • Vendor landscape
    • Competitive scenario
    • Product offerings
      • Table Product offerings of the key vendors
    • Competitive landscape
      • Table Competitive landscape of key leading vendors 2016
    • Other prominent vendors
      • Table Other prominent vendors
  • Appendix
    • List of abbreviations
  • Explore Technavio

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