Asia Pacific Retail Core Banking Systems Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Offering (Solutions and Services); Deployment Type (Cloud and On-Premise); and Country
Market Introduction
Retail core banking systems are solutions for personal banking or consumer banking that offers banks the ability to serve their customers through digital channels better. These solutions help customers better manage their money by securely transferring and depositing it and accessing credit. Other services provided by these solutions include managing mortgages, account information, personal loans, certificates of deposit, debit/credit card, and other financial records. This market evaluates retail core banking systems players based on the various products offered by them to banks for managing retail banking financial transaction management.
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Market Overview and Dynamics
The retail core banking systems market in Asia Pacific is expected to grow from 1449.7 million in 2019 to US$ US$ 3420.8 million by 2027; it is estimated to grow at a CAGR of 11.6% from 2020 to 2027. Regulators across the region have shown immense interest in encouraging the digital banks’ growth. Several countries also introduced license regimes, including Singapore and Taiwan, and the Hong Kong Special Administration Region. Further, countries such as Thailand and Malaysia are expected to follow the same. Moreover, fully digitalized banking services are already available in APAC countries, including Japan, India, South Korea, and Australia. The emergence of digital-only banks in the region is expected to propel the demand for retail core banking systems across the APAC region.
Key Market Segments
In terms of deployment type, the on-premise segment accounted for a larger share of the Asia Pacific retail core banking systems market in 2019. In terms of offering, the solutions segment held the largest share of the retail core banking systems market in 2019. Further, the cloud segment is anticipated to witness the higher CAGR growth during the forecast period. Based on country, the retail core banking systems market is segmented into China, Australia, Japan, India, South Korea, and the rest of APAC region. China held the largest share of the market in 2019.
COVID-19 Impact
The governments of Asia Pacific countries have been taking all possible steps, including the imposition of lockdown, to reduce the effect of the COVID-19 pandemic. The temporary shutdown of companies had resulted in increased adoption of digital channels of communication among the customers and various organizations. However, during the Q1 and Q2 2020, several companies were temporarily shut, which created a supply disruption among the retail core banking systems vendors and banks, which imparted a slight restraining effect on the retail core banking systems market. However, market resumed the growth after gradual lifting of lockdown impositions in various countries.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the retail core banking systems market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Avaloq, Fiserv, Inc., Infosys Ltd., Oracle Corporation, SAP SE, Sopra Steria, Tata Consultancy Services Limited, Temenos Headquarters SA, Intellect Design Arena Ltd, and FIS are among the major companies listed in the report.
Reasons to Buy Report
- To understand the Asia Pacific retail core banking systems market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for the Asia Pacific retail core banking systems market
- Efficiently plan M&A and partnership deals in the Asia Pacific retail core banking systems market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form of the Asia Pacific retail core banking systems market
- Obtain market revenue forecast for market by various segments from 2020 to 2027 in the Asia Pacific region.
Asia Pacific Retail Core Banking Systems Market Segmentation
By Offering
- Solutions
- Services
By Deployment Type
- Cloud
- On-Premise
By Country
- China
- India
- Japan
- South Korea
- Australia
- Rest of APAC
Company Profiles
- Avaloq
- Fiserv, Inc.
- Infosys Ltd.
- Oracle Corporation
- SAP SE
- Sopra Steria
- Tata Consultancy Services Limited
- Temenos Headquarters SA
- Intellect Design Arena Ltd
- FIS
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Retail Core Banking Systems Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Asia Pacific Retail Core Banking Systems Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Rising Customer Demand for Enhanced Banking Services
5.1.2 Intensifying Competition in Retail Banking Industry
5.2 Market Restraints
5.2.1 Concerns Related to Cybersecurity
5.3 Market Opportunities
5.3.1 Replacement of Legacy Infrastructure with Advanced Core Banking Systems
5.4 Future Trends
5.4.1 Retail Payments Systems Leveraging Blockchain Technology
5.5 Impact Analysis of Drivers and Restraints
6. Retail Core Banking Systems– Asia Pacific Market Analysis
6.1 Asia Pacific Market Overview
6.2 Asia Pacific Retail Core Banking Systems Market Forecast and Analysis
6.3 Market Positioning
7. Retail Core Banking Systems Market Analysis – By Offering
7.1 Overview
7.2 Retail Core Banking Systems Market, By Offering (2019 and 2027)
7.3 Solutions
7.3.1 Overview
7.3.2 Solutions Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Services
7.4.1 Education: Board management software Market – Revenue and Forecast to 2027 (US$ Million)
8. Asia Pacific Retail Core Banking Systems Market Revenue and Forecasts to 2027 – Deployment Type
8.1 Overview
8.2 Retail Core Banking Systems Market, By Deployment Type (2019 and 2027)
8.3 Cloud
8.3.1 Overview
8.3.2 Cloud: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
8.4 On-Premise
8.4.1 On-Premise: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9. Asia Pacific Retail Core Banking Systems Market Analysis –By Countries
9.1.1 Asia Pacific: Retail Core Banking Systems Market, By Country
9.1.1.1 China: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.1.1 China: Retail Core Banking Systems Market, By Offering
9.1.1.1.2 China: Retail Core Banking Systems Market, By Deployment Type
9.1.1.2 India: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.2.1 India: Retail Core Banking Systems Market, By Offering
9.1.1.2.2 India: Retail Core Banking Systems Market, By Deployment Type
9.1.1.3 Japan: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.3.1 Japan: Retail Core Banking Systems Market, By Offering
9.1.1.3.2 Japan: Retail Core Banking Systems Market, By Deployment Type
9.1.1.4 South Korea: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.4.1 South Korea: Retail Core Banking Systems Market, By Offering
9.1.1.4.2 South Korea: Retail Core Banking Systems Market, By Deployment Type
9.1.1.5 Australia: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.5.1 Australia: Retail Core Banking Systems Market, By Offering
9.1.1.5.2 Australia: Retail Core Banking Systems Market, By Deployment Type
9.1.1.6 Rest of APAC: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.6.1 Rest of APAC: Retail Core Banking Systems Market, By Offering
9.1.1.6.2 Rest of APAC: Retail Core Banking Systems Market, By Deployment Type
10. Impact of Covid-19 Pandemic On Asia Pacific Retail Core Banking Systems Market
10.1 Asia Pacific Countries: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Merger and Acquisition
11.4 New Development
12. Key Company Profiles
12.1 Avaloq
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Fiserv, Inc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Infosys Ltd.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Oracle Corporation
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 SAP SE
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Sopra Steria
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Tata Consultancy Services Limited
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Temenos Headquarters SA
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Intellect Design Arena Ltd
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 FIS
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary
LIST OF TABLES
Table 1. Asia Pacific Retail Core Banking Systems Market Revenue and Forecasts to 2027 (US$ Mn)
Table 1. Asia Pacific Retail Core Banking Systems Market, By Country – Revenue and Forecast to 2027 (US$ Million)
Table 2. China Retail Core Banking Systems Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 3. China Retail Core Banking Systems Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 4. India Retail Core Banking Systems Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 5. India Retail Core Banking Systems Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 6. Japan Retail Core Banking Systems Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 7. Japan Retail Core Banking Systems Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 8. South Korea Retail Core Banking Systems Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 9. South Korea Retail Core Banking Systems Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 10. Australia Retail Core Banking Systems Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 11. Australia Retail Core Banking Systems Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 12. Rest of APAC Retail Core Banking Systems Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 13. Rest of APAC Retail Core Banking Systems Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 14. Glossary of Terms, Asia Pacific Retail Core Banking Systems Market
LIST OF FIGURES
Figure 1. Asia Pacific Retail Core Banking Systems Market Segmentation
Figure 2. Asia Pacific Retail Core Banking Systems Market Overview
Figure 3. Asia Pacific Retail Core Banking Systems Market- By Offering
Figure 4. Asia Pacific Retail Core Banking Systems Market- By Deployment Type
Figure 5. Asia Pacific Retail Core Banking Systems Market: Pest Analysis
Figure 6. Asia Pacific Retail Core Banking Systems Market Ecosystem Analysis
Figure 7. Asia Pacific Retail Core Banking Systems Market Expert Opinion
Figure 8. Asia Pacific Retail Core Banking Systems Market Impact Analysis of Drivers and Restraints
Figure 10. Asia Pacific Retail Core Banking Systems Market Forecast and Analysis to 2027
Figure 11. Retail Core Banking Systems Market Revenue Share, By Offering (2019 and 2027)
Figure 12. Solutions: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 13. Services: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. Retail Core Banking Systems Market Revenue Share, By Deployment Type (2019 and 2027)
Figure 15. Cloud: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 16. On-Premise: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 17. Asia Pacific: Retail Core Banking Systems Market Revenue Share, By Country (2019 and 2027)
Figure 18. China: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. India: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. Japan: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. South Korea: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. Australia: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. Rest of APAC: Retail Core Banking Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Impact of Covid-19 Pandemic in Asia Pacific Country Markets
- Avaloq
- Fiserv, Inc.
- Infosys Ltd.
- Oracle Corporation
- SAP SE
- Sopra Steria
- Tata Consultancy Services Limited
- Temenos Headquarters SA
- Intellect Design Arena Ltd
- FIS