Snapshot img

Third-Party Banking Software Market Size 2025-2029

The third-party banking software market size is forecast to increase by USD 10.56 billion at a CAGR of 6.6% between 2024 and 2029.

The global third-party banking software market is expanding steadily, driven by the growing adoption of digital payment solutions and advancements in cloud computing. Key factors include a shift in consumer behavior toward mobile and online banking, increasing the need for efficient transaction management and information services, and the integration of analytics, which enhances decision-making and customer insights for financial institutions.
This report provides a comprehensive resource for businesses, detailing market size, growth forecasts through 2029, and key segments like core banking software, which leads due to its critical role in managing essential banking operations. It explores trends such as the rising use of AI-driven tools for personalized banking services and addresses challenges like data privacy concerns, which remain a significant hurdle amid increasing digitization. The analysis is tailored for practical applications in strategy, operational efficiency, and customer engagement.
For companies aiming to stay competitive in the global third-party banking software market, this report offers actionable data and insights into leveraging digital trends and navigating security challenges, ensuring they can adapt to a rapidly evolving financial landscape.

What will be the Size of the Third-Party Banking Software Market During the Forecast Period?

Request Free Sample

Big data analytics is another significant trend, enabling banks to gain valuable insights from their data and improve customer experience. Third-party banking software providers offer a range of solutions to cater to the varying needs of commercial and retail banks. These solutions help banks streamline their operations, improve customer service, and enhance data security. The market is expected to continue growing as banks seek to leverage digital technology to remain competitive and meet evolving customer demands.

How is this Third-Party Banking Software Industry segmented?

The third-party banking software industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Core banking software
  Omnichannel banking software
  Business intelligence software
  Wealth management software


Deployment

  On-premises
  Cloud


Application

  Risk Management
  Information Security
  Business Intelligence


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK
    France
    Italy


  APAC

    China
    India
    Japan
    South Korea


  South America



  Middle East and Africa

By Type Insights

The core banking software segment is estimated to witness significant growth during the forecast period. The market encompasses advanced analytical tools and solutions for financial transaction tracking, bookkeeping, core banking systems, and operational efficiency. Core banking software, a segment of this market, facilitates multi-channel access to banking services through ATMs, computers, smartphones, and the internet. The retail banking sector's expansion, fueled by government initiatives and consumer behavior shifts, is a significant growth factor. Core banking software enables seamless digital experiences, such as mobile banking apps, online account management, and customer experience management.

Business intelligence, risk management, and wealth management software are also integral parts of the market, offering advanced features like artificial intelligence and big data analytics. Companies in this industry collaborate to offer integrated solutions, such as the Cyberbank platform, enabling digital transformation and regulatory compliance. The market's growth is further influenced by industry trends, IT infrastructure advancements, and geographic expansion.

Get a glance at the share of various segments. Request Free Sample

The core banking software segment was valued at USD 8.14 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 29% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market size of various regions, Request Free Sample

The North American the market is projected to expand due to the region's technological advancements and early adoption of innovative technologies. Leading investment banks are investing in technology to enhance customer service. Cloud-computing applications, such as databas

McGRAW’s US B2B Data: Accurate, Reliable, and Market-Ready

Our B2B database delivers over 80 million verified contacts with 95%+ accuracy. Supported by in-house call centers, social media validation, and market research teams, we ensure that every record is fresh, reliable, and optimized for B2B outreach, lead generation, and advanced market insights.

Our B2B database is one of the most accurate and extensive datasets available, covering over 91 million business executives with a 95%+ accuracy guarantee. Designed for businesses that require the highest quality data, this database provides detailed, validated, and continuously updated information on decision-makers and industry influencers worldwide.

The B2B Database is meticulously curated to meet the needs of businesses seeking precise and actionable data. Our datasets are not only extensive but also rigorously validated and updated to ensure the highest level of accuracy and reliability.

Key Data Attributes:

• Personal Identifiers: First name, last name
• Professional Details: Title, direct dial numbers
• Business Information: Company name, address, phone number, fax number, website
• Company Metrics: Employee size, sales volume
• Technology Insights: Information on hardware and software usage across organizations
• Social Media Connections: LinkedIn, Facebook, and direct dial contacts
• Corporate Insights: Detailed company profiles

Unlike many providers that rely solely on third-party vendor files, McGRAW takes a hands-on approach to data validation. Our dedicated nearshore and offshore call centers engage directly with data before each delivery to ensure every record meets our high standards of accuracy and relevance.

In addition, our teams of social media validators, market researchers, and digital marketing specialists continuously refine and update records to maintain data freshness. Each dataset undergoes multiple verification checks using internal validation processes and third-party tools such as Fresh Address, BriteVerify, and Impressionwise to guarantee the highest data quality.

Additional Data Solutions and Services

• Data Enhancement: Email and LinkedIn appends, contact discovery across global roles and functions

• Business Verification: Real-time validation through call centers, social media, and market research

• Technology Insights: Detailed IT infrastructure reports, spending trends, and executive insights

• Healthcare Database: Access to over 80 million healthcare professionals and industry leaders

• Global Reach: US and international GDPR-compliant datasets, complete with email, postal, and phone contacts

• Email Broadcast Services: Full-service campaign execution, from testing to live deployment, with tracking of key engagement metrics such as opens and clicks

Many B2B data providers rely on vendor-contributed files without conducting the rigorous validation necessary to ensure accuracy. This often results in outdated and unreliable data that fails to meet the demands of a fast-moving business environment.

McGRAW takes a different approach. By owning and operating dedicated call centers, we directly verify and validate our data before delivery, ensuring that every record is up-to-date and ready to drive business success.

Through continuous validation, social media verification, and real-time updates, McGRAW provides a high-quality, dependable database for businesses that prioritize data integrity and performance. Our Global Business Executives database is the ideal solution for companies that need accurate, relevant, and market-ready data to fuel their strategies.

Amazon not only boasts a hugely successful online retail platform but also a thriving digital marketplace which is seamlessly integrated with the main retail shopping experience. That being said, in the fourth quarter 2024, 62 percent of paid units were sold by third-party sellers. 1P and 3P Amazon sellers There are many ways of selling on Amazon. Firstly there are first-party (1P) vendor sales, where vendors send their inventory to Amazon, who in turn control the pricing and include “ships from and sold by Amazon.com” on product listings. The benefits of 1P sales on Amazon are wholesale purchases from Amazon, priority selling and brand trust through Amazon’s credibility as a seller. Amazon also permits third-party (3P) sales on its marketplace. Both individuals and professional sellers can sell on Amazon Marketplace. When it comes to order fulfillment, possible options are Fulfillment by Amazon (FBA) and Fulfillment by Merchant (FBM). Items are displayed as “sold by MERCHANT and Fulfilled by Amazon / Fulfilled by MERCHANT”. 3P sales are a popular strategy for sellers to make up for certain 1P sales disadvantages, namely improved margins through better pricing control, more favorable payment terms and less reliance on the relationship with Amazon. Amazon seller revenues This magic formula has ultimately cashed in for Amazon, which has seen its net revenues multiply in recent years. In 2023, the e-commerce giant generated approximately 140 billion dollars in third-party seller services, an increase of about 23 billion dollars from the previous year. While these figures are the product of orders throughout the year, a significant chunk is attributable to special offer and discount days. According to a survey, Black Friday is the shopping event driving the largest sales increase for Amazon sellers, followed by two of the company's own events, Prime Day and Amazon Summer Sale. In the context of the coronavirus pandemic, Amazon Prime Day played a particularly decisive role for small and medium-sized businesses around the world, many of which had to turn to online sales overnight in order to survive.

Data Center and Network Third-Party Hardware Maintenance Service Market size was valued at USD 2,209.54 Million in 2023 and is projected to reach USD 5,312.71 Million by 2031, growing at a CAGR of 13.35% from 2024 to 2031.

The increasing complexity of IT environments is a primary factor driving the global data cen-ter and network third-party hardware maintenance service market. As organizations contin-ue to expand their technological infrastructures and adopt more sophisticated solutions, they face the challenge of managing multi-vendor environments, diverse hardware configu-rations, and highly distributed networks. The intricacy of these IT systems has made tradi-tional maintenance models, particularly those relying on original equipment manufacturers (OEMs), less effective. Third-party hardware maintenance services have emerged as an effi-cient and flexible alternative, offering tailored solutions that address the specific needs of modern, complex IT environments.

With Speedeon's New Mover Data, you can market to movers when it matters most. Each year, 36 million people move. During the year surrounding this big life event, movers make approximately 72 brand-related decisions and spend nearly $9,000. For brands that offer products and services, especially top of mind for those in the "moving mindset", reaching individuals at the exact right time is key.

Speedeon's mover data is ideal for customer acquisition, retention and CRM matching, especially for products like - Financial services and loan products - Subscription services - Entertainment - Local businesses like gyms and restaurants - Furniture and appliances - Home improvements - Moving services - Banking services

Our data includes key data points including name, address, phone and email.

A sample of Speedeon's new mover data sources include: - Change of address forms including subscriptions - U.S. census bureau - County records, courthouse filings & title companies - Telco records including phone, utility and cable connects & disconnects - Real estate agency and records - Sale by owner sites and pending sales - Newspapers and other online publications

Speedeon's mover data is updated daily and undergoes additional data enhancements and verifications such as CASS and NCOA. In addition, our New Mover Data undergoes rigorous analysis, quality assessment and third-party verification.

According to Cognitive Market Research, the global managed service provider market size will be USD 301514.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 14.20% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 120605.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 90454.26 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 69348.27 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 15075.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 6030.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.9% from 2024 to 2031.
The managed IT infrastructure & data center typically holds the largest market share of the managed service providers industry.

Market Dynamics of Managed Service Provider Market

Key Drivers for Managed Service Provider Market

Growing Need for Cybersecurity and Data Protection Drives Market Growth

The increasing demand for cybersecurity and data protection is driving significant market growth, mainly in the application of managed service providers (MSPs). As businesses rely more on digital infrastructure, they face increased risks from cyberattacks, data breaches, and regulatory compliance challenges. Managed service providers offer specialized cybersecurity services such as threat detection, incident response, and data protection solutions, allowing businesses to manage their security demands better. This outsourcing enables businesses to focus on core operations while maintaining comprehensive security. Furthermore, managed service providers' capacity to expand services and provide continuous surveillance makes them an appealing alternative for organizations of all sizes in a changing threat circumstance. For instance, Produce8, a leading work analytics software vendor, launched its new MSP Partner Program in June 2024 to enable MSPs to provide clients with Produce8’s advanced work analytics tools. This initiative aimed to enhance productivity, optimize operations, and improve employee experiences through detailed insights and analytics for data-driven decision-making.

Increasing Adoption of IoT and Big Data Analytics Fuels Market Growth

The managed service provider (MSP) market is expanding significantly due to the growing adoption of IoT and big data analytics. As companies connect IoT devices, the volume of data generated increases, and advanced analytics tools are required to extract relevant insights. Managed service providers offer full data management services, including seamless connectivity, security, and real-time monitoring. Furthermore, considering the complicated nature of big data analytics, many businesses rely on managed service providers to handle infrastructure, maintenance, and optimization. Managed service providers assist organizations in scaling operations, decreasing expenses, and improving decision-making by utilizing cloud-based solutions, which fuels market growth in a wide range of industries.

Restraint Factor for the Managed Service Provider Market

Dependence on Third-Party Providers For Certain Services Hampers Market Growth

Managed service providers (MSPs) might find it challenging to extend their offerings if they depend on outside service providers offering certain services. Relying on third-party vendors for critical components such as cloud infrastructure, software solutions, or cybersecurity technologies can pose concerns such as vendor lock-in, service disruptions, and restricted flexibility. Managed service providers may struggle to differentiate their services or maintain competitive pricing due to the costs associated with third-party dependence. Furthermore, third-party suppliers may have different objectives or service level agreements, resulting in delays or quality issues that can harm managed service providers' customer relationships. These obstacles li...

Logistics Services (3PL & 4PL) Market size was valued at USD 924.36 Billion in 2024 and is projected to reach USD 1419.68 Billion by 2031, growing at a CAGR of 5.51% during the forecast period 2024-2031.

Global Logistics Services (3PL & 4PL) Market Drivers

Globalisation and Trade Liberalisation: As a result of the continuous trend of globalisation, there has been a rise in international trade. Effective logistics services are in more demand as companies become more global. The function of 3PL and 4PL providers is crucial in enabling smooth supply chain operations in various geographical regions.

Technological Developments: The logistics sector is undergoing a radical transformation thanks to the Internet of Things (IoT), artificial intelligence (AI), blockchain, and automation. By improving visibility, streamlining warehouse operations, tracking shipments in real-time, and optimising route planning, these technologies increase the efficacy and efficiency of logistics services provided by 3PL and 4PL companies.

Boom in e-commerce: The dynamics of the supply chain and consumer behaviour have changed due to the exponential expansion of e-commerce. Demand for flexible and scalable logistics solutions has increased due to the emergence of large online retailers and the growing inclination towards doorstep deliveries. In this changing environment, 3PL and 4PL suppliers skilled in managing the intricacies of e-commerce logistics are well-positioned to prosper.

Customer Expectations: In the cutthroat market of today, clients expect more individualised solutions, quicker turnaround times, and increased transparency. Providers of 3PL and 4PL services need to constantly innovate to fulfil these changing demands from customers. Personalised services, value-added products, and top-notch customer support are crucial for keeping customers and establishing a competitive advantage.

Sustainability Initiatives: Environmental sustainability is becoming more and more important in the logistics sector as well as other businesses. Eco-friendly methods are being adopted by businesses more frequently in an effort to cut down on fuel use, minimise carbon emissions, and improve transportation routes. Environmentally conscious customers are more inclined to choose 3PL and 4PL companies that value sustainability in their operations and provide green logistics solutions, which helps create a greener supply chain.

Supply Chain Agility and Resilience: The COVID-19 pandemic brought attention to the significance of supply chain agility and resilience. Border closures, lockdowns, and other limitations generated disruptions that highlighted the importance of having strong backup plans and adaptable logistics networks. In uncertain times, 3PL and 4PL suppliers who exhibit flexibility, toughness, and agility during times of turbulence are likely to prosper.

Snapshot img

Open Banking Market Size 2024-2028

The open banking market size is forecast to increase by USD 57.66 billion at a CAGR of 27.2% between 2023 and 2028. The market is witnessing significant growth due to the increasing demand for advanced Financial Management Tools that offer real-time access to Financial Data from multiple Financial Institutions. Open Banking Solutions, which utilize Open Banking APIs, enable automated savings, real-time transactions, and enhanced security features. The integration of Artificial Intelligence (AI) into these services further streamlines financial management and enhances personalized customer experiences. However, the handling of sensitive personal financial data necessitates strict adherence to guidelines and regulations to ensure data security and privacy. Key market trends include the growing preference for faster and more seamless payment processing, increased focus on data security, and the potential for increased competition among Financial Institutions as they adapt to the Open Banking landscape.

Request Free Sample

Open banking, a financial services model that enables third-party providers to access customers' financial data through APIs, is revolutionizing the payment ecosystem. This innovative approach allows for more customer-centric services, personalized financial offerings, and informed financial decisions. Broadband connectivity plays a crucial role in the open banking landscape, ensuring seamless access to real-time data for machine learning algorithms and AI applications. These technologies are integral to the open banking model, as they enable advanced data analytics and the development of innovative financial services. Security is a top priority in the market. Financial institutions are investing heavily in advanced security measures to protect sensitive customer data from online fraud. AI and machine learning algorithms are being employed to detect and prevent fraudulent activities in real-time. E-commerce and open banking are natural partners, with the former benefiting from the real-time financial data access provided by the latter.

Further, open banking APIs are the backbone of this new financial services model, allowing for seamless integration between financial institutions and third-party service providers. These APIs enable the sharing of financial data in a secure and standardized manner, facilitating the development of innovative financial services. Personalized financial services are a key benefit of open banking. By leveraging big data analytics and AI, financial institutions can offer customized offerings tailored to individual customers' financial needs and preferences. In conclusion, open banking is transforming the payment ecosystem by enabling real-time data access, advanced data analytics, and the development of innovative financial services. With a focus on security and customer-centricity, this model is poised to disrupt traditional financial services and reshape the industry landscape.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD Billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Service

  Banking and capital markets
  Payments
  Digital currencies


Deployment

  On premise
  Cloud


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK


  APAC

    China


  South America



  Middle East and Africa

By Service Insights

The banking and capital markets segment is estimated to witness significant growth during the forecast period. The market is revolutionizing the banking and financial services sector in the global payment ecosystem. Through strategic collaborations and innovative service offerings, Open Banking is enhancing payment processes, expanding investment accessibility, and promoting financial inclusion. In June 2024, Euronet, a leading financial technology and payments provider, partnered with Fintech Galaxy to introduce a new Banking as a Service (BaaS) offering. This collaboration aims to deliver faster, more secure, and cost-effective account-based transactions for banks, fintechs, and merchants. Key features of this service include card as a service, real-time payment processing, and advanced fraud detection. By integrating with consumer bank accounts, this solution reduces transaction costs and promotes financial inclusion, while also driving the adoption of digital transactions in the European region.

The integration of Artificial Intelligence (AI) and Machine Learning (ML) in Open Banking is further fueling the growth of the market. Big data analytics is enabling financial institutions to gain valuable insights into customer behavior and preferences, leading to personalized services and improved customer experience. The use of Open Banking is

The Hungarian third-party logistics (3PL) software market, valued at €2.38 billion in 2025, is projected to experience robust growth, driven by the increasing adoption of advanced technologies within the logistics sector and the expanding e-commerce market in Hungary. The Compound Annual Growth Rate (CAGR) of 4.08% from 2025 to 2033 reflects a steady upward trajectory, influenced by several key factors. The automotive and manufacturing sectors, significant contributors to the Hungarian economy, are major drivers of demand, requiring efficient logistics solutions for their supply chains. Furthermore, the growth of the oil & gas, chemicals, construction, distribution, and pharma & healthcare sectors contributes to the market's expansion. The prevalence of domestic and international transportation management services, along with value-added warehousing and distribution, underscores the comprehensive nature of 3PL software solutions being adopted. Established players like DB Schenker, DHL Global, and UPS, alongside local logistics providers, are shaping the competitive landscape. However, the market may face certain restraints including the need for continuous investment in infrastructure upgrades and the potential for cybersecurity risks related to data management within the digital logistics ecosystem. The forecast period (2025-2033) anticipates consistent market expansion, propelled by technological advancements like AI-powered route optimization, real-time tracking, and improved inventory management systems. The increasing demand for streamlined and cost-effective logistics solutions across various industries will further fuel market growth. While competition is significant, the diverse range of segments and service offerings creates opportunities for both established players and emerging companies to capitalize on specific niche markets. The continued integration of digital technologies within 3PL operations will define the future trajectory of the Hungarian market, fostering efficiency, transparency, and ultimately boosting the country's overall economic competitiveness. Recent developments include: October 2022: Red Arts Capital has announced that its portfolio company, Partners Warehouse, recently finished the add-on acquisition of Flex Logistics, a third-party logistics (3PL) company in Southern California, which holds nearly 900,000 square feet of warehousing space. This was done as part of Red Arts Capital's ongoing effort to acquire top supply chain and logistics companies., August 2022: The Danish business DKI Logistics A/S and its warehouse investment affiliate DKI Automatic A/S have agreed to be acquired by Rhenus Warehousing Solutions. The logistics company specializes in comprehensive supply chain and warehousing solutions with tailored value-added services. Rhenus Warehousing Solutions gains a larger European footprint by acquiring the Nordic nations.. Key drivers for this market are: Growing demand for Perishable Goods, Expanding E-commerce Market. Potential restraints include: Infrastructure Limitations, Skilled Labor Shortage. Notable trends are: Growth in the Demand for Warehousing Sector.

In 2024, Sinotrans Ltd. reported revenues of more than 105 billion yuan, an increase of almost 3.8 percent compared to the previous year. The Chinese logistics company has more than doubled its revenue over the past decade.