Cloud-Based Solutions Propel Islamic Banking Software Market as Mobility Reshapes Financial Services

DUBLIN, Oct. 9, 2023 /PRNewswire/ — The “Global Islamic Banking Software Market 2023-2027” report has been added to ResearchAndMarkets.com’s offering.

The Islamic banking software market is poised for substantial growth, with a projected increase of USD 2731.39 million during the period from 2022 to 2027, at an accelerating Compound Annual Growth Rate (CAGR) of 10.75% throughout the forecast period.
The comprehensive report on the Islamic banking software market provides a holistic analysis, including market size and forecasts, current trends, growth drivers, challenges, and vendor analysis, featuring approximately 25 vendors.
Key Market Drivers
Several key factors are driving the growth of the Islamic banking software market:
Smart Cards by Islamic Banks: The issuance of smart cards by Islamic banks is a significant driver, enhancing the adoption of advanced software solutions.Increasing Sukuk Issuance: The growing issuance of sukuk (Islamic bonds) fuels the demand for specialized software to manage Islamic financial instruments.Mobility in Banking: The trend toward increased mobility in the banking industry further drives the need for software solutions that can support this shift.Market Segmentation
The Islamic banking software market is segmented as follows:
By Application:
RetailCorporateOthersBy Deployment:
On-premisesCloudBy Geographical Landscape:
Middle East and AfricaAPACEuropeNorth AmericaSouth AmericaEmerging Market Trends
The report identifies several emerging market trends, including:
Blockchain Technology: The adoption of blockchain technology is a prime driver of market growth, offering security and transparency in Islamic financial transactions.Big Data and Analytics: The advent of big data and analytics enhances decision-making and risk management in Islamic banking.Cloud-Based Services: The adoption of cloud-based services for scalability and flexibility drives demand in the market.Key Companies Mentioned
The report provides vendor analysis and mentions approximately 25 companies operating in the Islamic banking software market, including:
AutoSoft Dynamics Pvt. Ltd.Azentio Software Pvt. Ltd.Bank AlbiladBank Alfalah Islamic BankingBML Istisharat SALCodebase Technologies FZECraft Silicon Ltd.First Abu Dhabi Bank PJSCICS Financial Systems Ltd.INFOPRO Sdn BhdInfosys Ltd.International Turnkey Systems GroupMillennium Information Solution Ltd.Nucleus Software Exports Ltd.Oracle Corp.Silverlake Axis Ltd.Sopra Steria Group SATata Consultancy Services Ltd.Temenos AGVirmati Infotech Pvt. Ltd.For more information about this report visit https://www.researchandmarkets.com/r/lp85nx
About ResearchAndMarkets.comResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:Research and MarketsLaura Wood, Senior Manager press@researchandmarkets.com For E.S.T Office Hours Call +1-917-300-0470For U.S./CAN Toll Free Call +1-800-526-8630For GMT Office Hours Call +353-1-416-8900U.S. Fax: 646-607-1907Fax (outside U.S.): +353-1-481-1716
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View original content:https://www.prnewswire.com/news-releases/cloud-based-solutions-propel-islamic-banking-software-market-as-mobility-reshapes-financial-services-301950712.html
SOURCE Research and Markets 

DUBLIN, Oct. 9, 2023 /PRNewswire/ — The “Global Islamic Banking Software Market 2023-2027” report has been added to ResearchAndMarkets.com’s offering.

The Islamic banking software market is poised for substantial growth, with a projected increase of USD 2731.39 million during the period from 2022 to 2027, at an accelerating Compound Annual Growth Rate (CAGR) of 10.75% throughout the forecast period.

The comprehensive report on the Islamic banking software market provides a holistic analysis, including market size and forecasts, current trends, growth drivers, challenges, and vendor analysis, featuring approximately 25 vendors.

Key Market Drivers

Several key factors are driving the growth of the Islamic banking software market:

Smart Cards by Islamic Banks: The issuance of smart cards by Islamic banks is a significant driver, enhancing the adoption of advanced software solutions.Increasing Sukuk Issuance: The growing issuance of sukuk (Islamic bonds) fuels the demand for specialized software to manage Islamic financial instruments.Mobility in Banking: The trend toward increased mobility in the banking industry further drives the need for software solutions that can support this shift.

Market Segmentation

The Islamic banking software market is segmented as follows:

By Application:

RetailCorporateOthers

By Deployment:

On-premisesCloud

By Geographical Landscape:

Middle East and AfricaAPACEuropeNorth AmericaSouth America

Emerging Market Trends

The report identifies several emerging market trends, including:

Blockchain Technology: The adoption of blockchain technology is a prime driver of market growth, offering security and transparency in Islamic financial transactions.Big Data and Analytics: The advent of big data and analytics enhances decision-making and risk management in Islamic banking.Cloud-Based Services: The adoption of cloud-based services for scalability and flexibility drives demand in the market.

Key Companies Mentioned

The report provides vendor analysis and mentions approximately 25 companies operating in the Islamic banking software market, including:

AutoSoft Dynamics Pvt. Ltd.Azentio Software Pvt. Ltd.Bank AlbiladBank Alfalah Islamic BankingBML Istisharat SALCodebase Technologies FZECraft Silicon Ltd.First Abu Dhabi Bank PJSCICS Financial Systems Ltd.INFOPRO Sdn BhdInfosys Ltd.International Turnkey Systems GroupMillennium Information Solution Ltd.Nucleus Software Exports Ltd.Oracle Corp.Silverlake Axis Ltd.Sopra Steria Group SATata Consultancy Services Ltd.Temenos AGVirmati Infotech Pvt. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/lp85nx

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:
Research and Markets
Laura Wood, Senior Manager 
press@researchandmarkets.com 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

 

View original content:https://www.prnewswire.com/news-releases/cloud-based-solutions-propel-islamic-banking-software-market-as-mobility-reshapes-financial-services-301950712.html

SOURCE Research and Markets

 

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