Global Islamic Banking Software Market 2020-2024
Technavio has been monitoring the Islamic banking software market and it is poised to grow by $ 461.83 mn during 2020-2024 progressing at a CAGR of 13% during the forecast period. Our reports on Islamic banking software market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the distribution of smart cards by banks, increasing Sukuk issuance and mobility in banking industry. In addition, the distribution of smart cards by banks is anticipated to boost the growth of the market as well.
The Islamic banking software market analysis includes application segment and geographic landscapes
Technavio's Islamic banking software market is segmented as below:
By Geographic Landscapes
- North America
- South America
This study identifies the rising adoption of cloud-based services as one of the prime reasons driving the Islamic banking software market growth during the next few years. Also, advent of big data and analytics and adoption of blockchain technology will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our Islamic banking software market covers the following areas:
- Islamic banking software market sizing
- Islamic banking software market forecast
- Islamic banking software market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Islamic banking software market vendors that include 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. Also, the Islamic banking software market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.