The spending on the information and communications technology (ICT) sector continues to rise. According to the International Data Corporation (IDC)—ICT Spending (2020–2023) report, the spending on new technologies will be US$ 1,189,208 million in 2022 and US$ 1,362,017 million by 2023. IDC also predicted that the spending on traditional technologies will be US$ 4,277,843 million in 2022 and US$ 4,453,674 million by 2023. Moreover, according to the same IDC report, the spending on software was US$ 590,224 million in 2020. As per the article published by the International Trade Administration, spending on information technology (IT) by the Indian government was expected to reach US$ 7.3 billion by 2021 from US$ 6.6 billion in 2020, and it would grow by 9.4% annually. With the growing spending on the ICT sector, especially on the software/platform segment, the development and adoption of advanced technologies by businesses across the region will grow in the coming years. Thus, the rising spending on the ICT sector will lead to more advanced development in the treasury and risk management systems, which will boost the demand for treasury and risk management solutions across the region.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC treasury and risk management market. The APAC treasury and risk management market is expected to grow at a good CAGR during the forecast period.
APAC Treasury and Risk Management Market Segmentation
The APAC treasury and risk management market is segmented based on component, deployment, enterprise size, application, end user, and country. Based on component, the market is bifurcated into solution and services. The solution segment dominated the market in 2020, and the same segment is expected to grow faster during the forecast period. In terms of deployment, the market is bifurcated into cloud-based and on-premises. The cloud-based segment dominated the market in 2020, and the same segment is expected to grow faster during the forecast period. Based on enterprise size, the market is bifurcated into small & medium-size enterprises and large enterprises. The large enterprises segment dominated the market in 2020, and the small & medium-size enterprises segment is expected to grow faster during the forecast period. In terms of application, the market is segmented into account management, cash and liquidity management, compliance and risk management, and financial resource management. The cash and liquidity management segment dominated the market in 2020, and the same segment is expected to be the fastest-growing segment during the forecast period. Based on end user, the market is segmented into BFSI, IT and telecom, retail and e-commerce, healthcare, manufacturing and automotive, and others. The BFSI segment dominated the market in 2020, and the healthcare segment is expected to be the fastest growing during the forecast period. Based on country, the APAC treasury and risk management market has been segmented into China, India, Japan, South Korea, Australia, and the Rest of APAC.
Broadridge Financial Solutions, Inc.; Calypso Technology, Inc (Adenza); FIS; Fiserv, Inc.; Kyriba Corp; Mors Software; Oracle Corporation; Pricewaterhousecoopers International Limited (PWC); SAP SE; and Wolters Kluwer are among the leading companies in the APAC treasury and risk management market.