Global treasury software market to top US$1.452bn by 2027
by Ben Poole
Facts and Factors Market Research has published a report on the growth of the treasury management system market, with the snappy title: “Treasury Software Market By Deployment Mode (On-Premise and Cloud-Based), By Organization Size (Large Enterprises and Small & Medium-Sized Enterprises), and By Vertical (Banking, Financial Services, & Insurance (BFSI), Healthcare, Manufacturing, Consumer Goods, and Chemicals, Metals, & Energy): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”.
According to the report, the global treasury software market was valued at approximately US$858m in 2018 and is expected to reach a value of around US$1.452bn by 2027, at a compound annual growth rate (CAGR) of around 6.1% between 2019 and 2027.
High acceptance of automated systems to steer market growth
The massive use of automated systems is likely to push up the progression of the treasury software industry during the forecast timespan. Furthermore, the treasury software has proved to be of the utmost importance to the individuals possessing a limited amount of income.
Moreover, the software can connect the banking, financial services and insurance (BFSI) with other sectors like energy, government, healthcare, and retail. Additionally, blockchain technology can eliminate functions pertaining to the treasury including reconciliation, payment deals, fiscal settlement activities, and auditing.
Apparently, breakthroughs in the treasury management software including cloud-based deployment and managed solutions will increase the market scope during the forecast timespan. Nevertheless, the increase in the data violations and less awareness of the advantages offered by the product among the population of emerging economies can hinder the progression of the industry during the forecast timeline.
The BFSI segment will lead the vertical landscape in terms of value over the forecast period. The segmental growth is due to the massive demand for treasury software in the banking and financial activities along with the insurance solutions in the region.
Cloud-based segment to register highest CAGR over the forecast timeline
The cloud-based segment is set to record the highest growth rate of nearly over 6% during the timespan from 2019 to 2027. The expansion of the treasury software market is due to the utilisation of cloud technologies. The use of these deployment techniques has enhanced the cost-efficacy of treasury systems along with increasing its flexibility through the fulfilment of the end-user requirements. Moreover, growing innovation in the cloud computing domain is set to create lucrative growth avenues for financial businesses functional under the treasury software market. All these aspects are predicted to contribute remarkably towards the segmental expansion over the forecast timeline. In addition to this, the constant research & development activities in the cloud computing domain have led to innovations in treasury software systems, thereby further spurring the expansion of the segment.
North American market to occupy top spot in terms of revenue
The growth of the regional market during the forecast timespan is due to government policies encouraging the usage of the treasury software in small as well as giant enterprises. Countries like the US are likely to contribute a huge chunk of the regional market revenue share by 2027 due to burgeoning demand for the product in the country.
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