Market Overview:
The global retail banking IT spending market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for online and mobile banking, increased internet penetration, and the growing need for analytical technologies in retail banking. In terms of type, the core banking segment is expected to hold the largest share of the global retail banking IT spending market during the forecast period. This can be attributed to rising demand for integrated solutions that offer end-to-end capabilities across all channels in order to improve customer experience and optimize operations. In terms of application, hardware is expected to account for a larger share of the global retail banking IT spending market than software and services duringthe forecast period.
Product Definition:
Retail banking IT spending is the category of information technology (IT) spending by retail banks. This includes all spending on hardware, software, services and telecommunications by retail banks for use in their retail banking operations. The importance of Retail Banking IT Spending is that it allows banks to improve their customer service, reduce costs and increase profits.
Core Banking:
Core banking is the heart of retail banks. It is a system that enables customers to carry out basic financial transactions such as deposits, withdrawals, and transfers between accounts with limited or no documentation. The core banking model has been around for decades; however, in recent years there have been significant advancements in technology which have helped drive the growth factor in this market.
Online Banking:
Online banking is a service where the customers can perform various financial transactions such as payment, transfer, and check by using the internet. The service has been designed to cater to both retail and business customers. It offers benefits such as ease of convenience for the consumers in terms of accessibility irrespective of their location. Moreover, it helps in reducing operational costs incurred at multiple physical branches thus increasing profitability for banks.
The global online banking.
Application Insights:
The services segment dominated the global retail banking IT spending market in 2017. The segment is expected to continue its dominance over the forecast period owing to an increase in demand for various services such as fraud detection, risk management and compliance, digital treasury, and others. In addition, growing demand for cloud-based applications is anticipated to drive the growth of this segment over the forecast period.
The hardware application accounted for a considerable share of revenue on account of increasing penetration of internet banking facilities across all channels and regions. Furthermore, rising adoption rate of mobile payments coupled with easy access through app-based interfaces has resulted in increased usage rates of smartphones among consumers globally which has further driven their interest in online banking transactions resulting in higher adoption rates across retailers worldwide.
Regional Analysis:
The Asia Pacific region is expected to witness significant growth over the forecast period owing to the increasing adoption of internet-based technologies by retail banks. The regional market for retail banking IT spending is likely to grow at a CAGR of XX% from 2018 to 2030. This can be attributed to various factors such as growing middle-class population, improving standards of living, and rising disposable income in emerging economies including China and India. Moreover, these countries are home to some of the largest financial markets globally that present lucrative opportunities for technology providers looking for new customers or revenue generation channels.
Furthermore, technological advancements have made it easier than ever before for individuals with limited banking knowledge or experience (iBanks)to bank online using mobile phones and other devices with an internet connection; thereby driving demand across developing economies worldwide.
Growth Factors:
- Increasing demand for retail banking services
- Proliferation of digital channels and technologies
- Rising customer expectations for enhanced user experience
- Regulatory compliance mandates
- Emerging payments technologies
Scope Of The Report
Report Attributes
Report Details
Report Title
Retail Banking IT Spending Market Research Report
By Type
Core Banking, Online Banking, Mobile Banking, Channel Management, Internal Operations, Analytical Technologies, Increased Internet Penetration
By Application
Hardware, Software, Services
By Companies
Dell, HP, IBM, Microsoft, Accenture, Acer, ATOS, Capgemini, CGI Group, Cisco Systems
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
219
Number of Tables & Figures
154
Customization Available
Yes, the report can be customized as per your need.
Global Retail Banking IT Spending Market Report Segments:
The global Retail Banking IT Spending market is segmented on the basis of:
Types
Core Banking, Online Banking, Mobile Banking, Channel Management, Internal Operations, Analytical Technologies, Increased Internet Penetration
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hardware, Software, Services
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Dell
- HP
- IBM
- Microsoft
- Accenture
- Acer
- ATOS
- Capgemini
- CGI Group
- Cisco Systems
Highlights of The Retail Banking IT Spending Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Core Banking
- Online Banking
- Mobile Banking
- Channel Management
- Internal Operations
- Analytical Technologies
- Increased Internet Penetration
- By Application:
- Hardware
- Software
- Services
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Retail Banking IT Spending Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Retail banking IT spending is the total amount banks spend on technology to support their retail banking operations. This includes everything from software and hardware to employee training and data center infrastructure.
Some of the major companies in the retail banking it spending market are Dell, HP, IBM, Microsoft, Accenture, Acer, ATOS, Capgemini, CGI Group, Cisco Systems.
The retail banking it spending market is expected to grow at a compound annual growth rate of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Retail Banking IT Spending Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Retail Banking IT Spending Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Retail Banking IT Spending Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Retail Banking IT Spending Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Retail Banking IT Spending Market Size & Forecast, 2020-2028
4.5.1 Retail Banking IT Spending Market Size and Y-o-Y Growth
4.5.2 Retail Banking IT Spending Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Core Banking
5.2.2 Online Banking
5.2.3 Mobile Banking
5.2.4 Channel Management
5.2.5 Internal Operations
5.2.6 Analytical Technologies
5.2.7 Increased Internet Penetration
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Hardware
6.2.2 Software
6.2.3 Services
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Retail Banking IT Spending Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Retail Banking IT Spending Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Core Banking
9.6.2 Online Banking
9.6.3 Mobile Banking
9.6.4 Channel Management
9.6.5 Internal Operations
9.6.6 Analytical Technologies
9.6.7 Increased Internet Penetration
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Hardware
9.10.2 Software
9.10.3 Services
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Core Banking
10.6.2 Online Banking
10.6.3 Mobile Banking
10.6.4 Channel Management
10.6.5 Internal Operations
10.6.6 Analytical Technologies
10.6.7 Increased Internet Penetration
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Hardware
10.10.2 Software
10.10.3 Services
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Core Banking
11.6.2 Online Banking
11.6.3 Mobile Banking
11.6.4 Channel Management
11.6.5 Internal Operations
11.6.6 Analytical Technologies
11.6.7 Increased Internet Penetration
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Hardware
11.10.2 Software
11.10.3 Services
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Core Banking
12.6.2 Online Banking
12.6.3 Mobile Banking
12.6.4 Channel Management
12.6.5 Internal Operations
12.6.6 Analytical Technologies
12.6.7 Increased Internet Penetration
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Hardware
12.10.2 Software
12.10.3 Services
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Core Banking
13.6.2 Online Banking
13.6.3 Mobile Banking
13.6.4 Channel Management
13.6.5 Internal Operations
13.6.6 Analytical Technologies
13.6.7 Increased Internet Penetration
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Hardware
13.10.2 Software
13.10.3 Services
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Retail Banking IT Spending Market: Competitive Dashboard
14.2 Global Retail Banking IT Spending Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Dell
14.3.2 HP
14.3.3 IBM
14.3.4 Microsoft
14.3.5 Accenture
14.3.6 Acer
14.3.7 ATOS
14.3.8 Capgemini
14.3.9 CGI Group
14.3.10 Cisco Systems
