DUBLIN, March 4, 2024 /PRNewswire/ — The “Global Islamic Banking Software Market 2023-2027” report has been added to ResearchAndMarkets.com’s offering.
The global Islamic banking software market is poised for significant growth with an expected surge of USD 2731.39 million from 2022 to 2027, showcasing an accelerating Compound Annual Growth Rate (CAGR) of 10.75%.
The latest industry analysis underscores the crucial expansion within the sector, attributing advancements to key factors such as the increasing issuance of smart cards by Islamic banks, rising sukuk issuances, and enhanced mobility within the banking industry.
The industry’s growth trajectory is influenced by technological adoptions and geographical expansions, marking a transformative phase for Islamic banking operations worldwide. The market is strategically segmented to cater to diverse application areas, including retail, corporate, and others. Additionally, it encompasses various deployment models such as on-premises and cloud-based solutions, addressing the evolving needs of the global Islamic banking sector.
Geographically, the market analysis highlights the following regions:
- Middle East and Africa
- Asia-Pacific
- Europe
- North America
- South America
The integration of blockchain technology emerges as a significant trend, indicating substantial growth in the Islamic banking software market in the forthcoming years. Also, the confluence of big data, analytics, and the uptake of cloud-based services are anticipated to fuel demand and prompt market expansion. Persistent efforts towards comprehensive vendor analysis reflect the industry’s commitment to helping clients achieve competitive market positions.
Through meticulous research, the report consolidates data from multiple sources and offers in-depth analysis alongside forecasting the market’s future landscape. The strategic approach is steered by the assessment of market influences such as profit, pricing, competition, and promotional strategies.
With this industry analysis, companies are equipped to navigate the emerging trends and challenges that are poised to shape market advancement. This arms them with strategic insights to capitalize on growth prospects and establish a solid presence in the evolving Islamic banking software marketplace.
Companies Profiled:
- AutoSoft Dynamics Pvt. Ltd.
- Azentio Software Pvt. Ltd.
- Bank Albilad
- Bank Alfalah Islamic Banking
- BML Istisharat SAL
- Codebase Technologies FZE
- Craft Silicon Ltd.
- First Abu Dhabi Bank PJSC
- ICS Financial Systems Ltd.
- INFOPRO Sdn Bhd
- Infosys Ltd.
- International Turnkey Systems Group
- Millennium Information Solution Ltd.
- Nucleus Software Exports Ltd.
- Oracle Corp.
- Silverlake Axis Ltd.
- Sopra Steria Group SA
- Tata Consultancy Services Ltd.
- Temenos AG
- Virmati Infotech Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/so1wlk
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SOURCE Research and Markets
Originally published at https://www.prnewswire.com/news-releases/islamic-banking-software-market-anticipated-for-robust-growth-driven-by-smart-card-adoption-and-sukuk-issuance-302078390.html
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