Middle East & Africa Core Banking Solution Market, by Services, 2017-2025
| Label | Hardware | Software |
|---|---|---|
| 2015 | 0.29 USD Bn | 0.11 USD Bn |
| 2016 | 0.35 USD Bn | 0.14 USD Bn |
| 2017 | 0.42 USD Bn | 0.17 USD Bn |
| 2018 | 0.51 USD Bn | 0.21 USD Bn |
| 2019 | 0.62 USD Bn | 0.27 USD Bn |
| 2020 | 0.76 USD Bn | 0.33 USD Bn |
| 2021 | 0.93 USD Bn | 0.42 USD Bn |
| 2022 | 1.13 USD Bn | 0.53 USD Bn |
Data Source: Wantstats Repository
Market Dynamics
hardware segment accounted for the larger market share in 2015, this market is expected to reach USD 1.13 Billion in 2022 from USD 0.29 Billion in 2015. This market is projected to grow at a CAGR of 21.57% during the forecast period from 2016 - 2022. However, software segment is the fastest growing market, which is expected to grow at a CAGR of 24.84% during the forecast period 2016 - 2022.
Research Methodology
Figures reflect Wantstats’ original market research and forecasting models, compiled as part of the Wantstats research archive and published in 2023.
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