Global Islamic Banking Software Market to grow at a CAGR of 12.6% during the period 2017 - 2021; Finds New Report

Report forecast the global islamic banking software market to grow at a CAGR of 12.6% during the period 2017-2021.

Islamic banking software refers to the banking software that functions according to the Shariah norms for managing and monitoring banking operations. To calculate the market size, we have considered the revenue generated from the sales of Islamic banking software offered by the vendors. Integrated solutions are not included in the software suites. Reseller revenues are also not considered as part of the market revenue. The report includes software sales for retail banking, corporate banking, capital markets, dealing, brokerage, and investment banking.

The report covers the present scenario and the growth prospects of the global islamic banking software market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:

• Americas
• APAC
• EMEA

According to the report, one driver in the market is increasing Sukuk issuance. Sukuk commonly refers to the Islamic equivalent of bonds. However, as opposed to conventional bonds, which merely confer ownership of the debt, Sukuk grants the investor a share of an asset along with the commensurate cash flows and risks. Sukuk securities adhere to Islamic laws, sometimes referred to as Shariah principles, which prohibit the charging or payment of interest. The Sukuk growth rate is currently 10%-15% in the global financial markets. With the increasing number of Sukuk issuance, it is difficult for banks and financial organizations to monitor and manage them.

Further, the report states that one challenge in the market is system integration and interoperability issues. The adoption of advanced technologies in many industry verticals, including BFSI, telecom, and public sectors, is increasing significantly. This gives rise to issues related to system integration and interoperability. The vendors should provide unified IT solutions that can be seamlessly integrated with the IT infrastructure of organizations. Technical glitches during the operations can incur a cost to the organization and reduce their operational efficiencies. System integration and interoperability issues mostly arise when organizations update their IT systems or merge their existing IT infrastructure with the acquired companies' IT infrastructure.

Global Islamic Banking Software Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global islamic banking software market: ITS, Oracle, Path Solutions, and Temenos.

Other Prominent Vendors in the market are: AutoSoft Dynamics, BML Istisharat, EdgeVerve (an Infosys company), ICS Financial Systems, INFOPRO, Infrasoft Technologies, Intertech, Millennium Information Solution, Misys, Nucleus Software Exports, SAB, Silverlake Axis, Sopra Banking Software, Tata Consultancy Services, and VIRMATI SOFTWARE & TELECOMMUNICATIONS.

Market driver

• Increasing Sukuk issuance
• For a full, detailed list, view our report

Market challenge

• System integration and interoperability issues
• For a full, detailed list, view our report

Market trend

• Adoption of blockchain technology
• For a full, detailed list, view our report

Key questions answered in this report

• What will the market size be in 2021 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?

Spanning over 68 pages “Global Islamic Banking Software Market 2017 - 2021” report covers Executive summary, Introduction, Scope of the report, Research Methodology, Market landscape, Islamic banking market overview, Market segmentation by applications, Geographical segmentation, Key leading countries, Decision framework, Drivers and challenges, Market trends, Buying criteria, Vendor landscape, Appendix.

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