Market Synopsis
Cash management system software provides treasurers control over financial spending and risk over business transactions. It provides the companies transparency of accounts, assists in liquidity management, and assists in digital transformation of data. The global Cash Management Market report by Market Research Future (MRFR) considers the various variables of drivers, challenges, trends, and opportunities to affect the industry for the period of 2019 to 2025 (forecast period). The sudden outbreak of the COVID-19 virus and its impact on the market are explored in the report.
Market Scope
The global Cash Management Market was valued at USD 17.14 billion in 2018. It is expected to reach USD 40.10 billion by 2025 at a CAGR of 14.15% during the forecast period. The increasing need for automated cloud solutions, growth of ecommerce, and adoption of mobile wallets and online payments are major drivers of the market. Integration of machine learning and artificial intelligence into these systems can pave the way for future growth for the market. Acquisitions and mergers are prime strategies deployed by companies to gain access to new technologies for enhancing the customer experience.
The need for centralized solutions in banking transactions and the focus on enterprises on lowering risk and improving financial efficiency can drive market growth. ML and AI driven systems have integrated bank management system, enterprise resource planning, and account management system processes. This is done to ensure transparency and cash flow into financial institutions.
Rise in cyber attacks and data theft incidence can hamper market growth.
Segmentation
The global cash management system market has been segmented based on component, deployment model, product type, organization size, and end-user.
By component, the global cash management system market has been divided into solution and services. By services, the market has been sub-divided into managed services and professional services. The professional services segment has been further sub-segmented into training and implementation services, installation services, and other support services.
By product type, the Cash Management Market has been segmented into information reporting, account reconciliation, controlled disbursement, demand deposit account (DDA), automated clearing house (ACH)/ electronic data interchange (EDI), purchasing card, wire transfer, retail and wholesale lockbox, and check clearing.
By deployment model, the market has been segmented into cloud and on-premise.
Furthermore, based on organization size, the market has been divided into small and medium enterprises and large enterprises.
Based on end-user, the global cash management system market has been categorized into non-banking financial corporations (NBFCs), banks, retail, and commercial enterprises.
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Regional Analysis
On the basis of region, the market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America.
North America accounted for the largest market share in 2018 and expected to dominate the global cash management system market during the forecast period. An increase in the adoption of cloud-based automated solutions, surge in cashless transactions, and investments in the banking sector for cash management software are driving factors for the growth of the market.
APAC is anticipated to be the fastest-growing regional market in the global cash management system market during the assessment period. The market growth can be attributed to the increasing number of automated teller machines (ATM) and rising number of government initiatives by emerging economies such as Mynamar, Indonesia, India, and Thailand to boost the banking sector.
Competitive Outlook
Prominent cash management system companies include Acumatica, Inc., Giesecke+Devrient GmBH, Nucleus Software Exports Ltd, Ardent Leisure Management Limited, AurionPro Solution, Glory Global Solution, Oracle Corporation, NTT Data Corporation, CMS.COM, SAGE Intacct, Sopra Banking Software SA, in times, Evry, Alvara Cash Management Group AG, and National Cash Management Systems (NCMS).
Recently, Finastra is planning to expand its cloud platform strategy by assisting its clients in Africa. It helped the Pan-African Ecobank to connect 34 African countries with a unified cash management system. It was able to dispense close to USD 75 million in relief funds to citizens during the COVID-19 pandemic.
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Global Smart Safe Cash Management market Outlook (2021-2027)The report on the global Smart Safe Cash Management market gives a comprehensive market survey based on the data form the years 2015 to 2021 and gives a forecast for the markets up to the year 2027.
The market parameters and indicators have been used to study the data collected.
The assessment period of the report extends from 2021 to 2027 with the forecast of the market based on the market trend analysis.Key Players Profiles in This Research Report are- Wipro, SmartStream, PNC, Oracle Blackrock, NerdWallet, HCL Technologies, GardaWorld, Fiserv, Barclays, and American ExpressMarket SegmentationFor the purpose of the study, the Smart Safe Cash Management market was segmented into type, application, end user, and region.
The study conducted on these segments provided various inputs that were implemented to ensure that the Smart Safe Cash Management market had every opportunity to grow in the global market.
There were several constraints that needed to be resolved for market penetration which ideally were looked into before the Smart Safe Cash Management market went global.Request the Sample Copy Here @ https://www.reportsandmarkets.com/sample-request/global-smart-safe-cash-management-market-4336092?utm_source=SOCCERNUDS_medium=47Segmented by TypeSoftwareServiceSegmented by ApplicationBanksRetailNon-Banking Financial OperationsCommercial EnterprisesIndividualRegional AnalysisThe various segments helped in thorough understanding on how the Smart Safe Cash Management market can be improved, where it needs improvement.
Rise in income of the population and growing interest of the people are reasons for the boost in demand in other regions.Market Segment by Regions, regional analysis coversNorth America (United States, Canada and Mexico)Europe (Germany, France, UK, Russia and Italy)Asia-Pacific (China, Japan, Korea, India and Southeast Asia)South America (Brazil, Argentina, Colombia etc.
Global Cash Management System Market Research Report: By Component [Software and Services (Managed Services and Professional Services {Installation Services, Training and Implementation Services and Other Support Services})], by Organization Size [SMEs, Large Enterprise] By Deployment Mode [Cloud, On-Premise], Product Type [Account Reconciliation, Controlled Disbursement, Automated Clearing House (ACH)/ Electronic Data Interchange (EDI), Demand Deposit Account (DDA), Wire Transfer, Information Reporting, Retail And Wholesale Lockbox, Check Clearing and Purchasing Card]), By End-user (Banks, Retail, Non-Banking Financial Corporations (NBFCs) and Commercial Enterprises)and Region [North America, Europe, Asia-Pacific, Middle East and Africa and South America] - Forecast till 2027Market SynopsisThe rise of the Cash Management market 2020 can be at 14.15% CAGR in the forecast period 2020 to 2027.
As per Market Research Future (MRFR) study, the cash management market is expected to rise from USD 17.14 Bn in 2020 to USD 40.10 Bn in 2027.
The rise in e-commerce sector and increase in payment applications and mobile wallets can promote the cash management market.
The rise in need for cloud-based automated solutions for banking can impel the expansion of the market in the years to come.
The growing utility of machine learning (ML) and artificial intelligence (AI) techniques for cash management market can support the expansion of the market.Market SegmentationThe segment study of the Global Cash Management System Market is based on product type, component, organization size, deployment model, and end-user.The component-based segments of the cash management system market are solution and services.
The services based segments of the cash management system market are professional services and managed services.
