Freemium
Technology & Electronics
Leading vendors' share of the procurement software market worldwide
| Label | Professional Services | Managed Services |
|---|---|---|
| 2017 | 36.47 USD Mn | 9.43 USD Mn |
| 2018 | 36.44 USD Mn | 9.36 USD Mn |
| 2019 | 36.68 USD Mn | 9.36 USD Mn |
| 2020 | 37.01 USD Mn | 9.38 USD Mn |
| 2021 | 37.43 USD Mn | 9.41 USD Mn |
| 2022 | 37.93 USD Mn | 9.48 USD Mn |
| 2023 | 38.58 USD Mn | 9.57 USD Mn |
| 2024 | 39.36 USD Mn | 9.7 USD Mn |
| 2025 | 40.24 USD Mn | 9.85 USD Mn |
Data Source: Wantstats Repository
Market Dynamics
The Middle East & Africa region has been experiencing a significant growth in the adoption of core banking solutions in recent years. Core banking solutions are software applications used by financial institutions to manage their core operations, such as deposit and loan processing, customer information management, and accounting. These solutions offer a wide range of services, including account management, payments, lending, and wealth management, among others.
The demand for core banking solutions in the Middle East & Africa region is being driven by various factors, including the increasing focus on digital transformation, rising competition in the financial sector, and the growing need for cost-effective and efficient banking services. With the advancement of technology and the increasing adoption of mobile banking and e-commerce, there is a growing demand for reliable and secure core banking solutions in the region.
In terms of services, the Middle East & Africa core banking solution market can be segmented into software and services. The services segment dominated the market in 2017 and is expected to continue its dominance during the forecast period. This can be attributed to the increasing demand for installation, integration, and maintenance of core banking software. Moreover, with the rising complexities in the financial sector, there is a growing need for consulting and training services to ensure the smooth functioning of core banking solutions.
The market for core banking solutions in the Middle East & Africa region is highly competitive, with the presence of several international and regional players. The major players in the market are focusing on expanding their product portfolios and investing in research and development to offer innovative and customized solutions to their customers. Furthermore, with the increasing adoption of cloud-based solutions, players are also focusing on providing cost-effective and scalable core banking solutions.
In conclusion, the Middle East & Africa core banking solution market is expected to witness significant growth in the coming years, driven by the increasing need for digital transformation and the adoption of advanced technologies in the financial sector. With the rising competition and changing customer preferences, financial institutions are increasingly turning to core banking solutions to streamline their operations and provide better services to their customers.
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We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Noah Malgeri
Co-Founder, Mojave Rail Fabrication Limited
This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Michael Robert
Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau
Sales Leader, Bamberg
We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Middle East & Africa Core Banking Solution Market, by Services, 2017-2025
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