Information Technology (IT) Solutions for Banking Market Outlook 2025-2029 & 2034 - Strategic Partnerships Fuel Digital Transformation in Banking IT Sector

Dublin, Sept. 25, 2025 (GLOBE NEWSWIRE) -- The "Information Technology (IT) Solutions for the Banking Market Report 2025" has been added to ResearchAndMarkets.com's offering.

The information technology (IT) solutions for the banking market continues to experience significant growth, with projections suggesting an increase from $51.97 billion in 2024 to $56.97 billion in 2025, reflecting a compound annual growth rate (CAGR) of 11.5%. This historic growth is attributed to the rise of online banking platforms, increasing cybersecurity threats, and heightened customer expectations for digital services, as well as the widespread adoption of mobile devices and stricter regulatory requirements.

Looking ahead, the IT solutions market for banking is expected to reach $87 billion by 2029, growing at a CAGR of 11.2%. This anticipated growth is driven by expanding adoption of AI and machine learning, increased demand for personalized banking experiences, and the integration of cloud-native infrastructures. Trends such as advancements in AI-powered customer service, blockchain integration, biometric authentication, and cloud-based core banking systems further support this positive outlook.

A key driver of this growth is the increasing penetration of smartphones, which facilitates the accessibility of banking IT solutions through mobile applications. For instance, according to Uswitch, the UK reported 71.8 million mobile connections at the start of 2022, highlighting an increased mobile presence that underpins the need for robust banking IT solutions.

Leading companies in the market are forging strategic partnerships to enhance technological capabilities and expedite digital transformation. For example, in January 2025, DXC Technology teamed up with Thought Machine, combining their respective strengths in industry expertise and cloud banking platforms to modernize banking systems for smaller institutions, enhancing service offerings and compliance.

In alignment with this trend, Accenture acquired Percipient's digital twin technology in January 2025, aimed at modernizing banking systems in the Asia Pacific region by leveraging digital twin technologies and enhancing cloud and AI solutions.

The IT solutions market for banking is dominated by major players like Accenture, IBM, Capgemini, Cognizant, Infosys, Fiserv, DXC Technology, HCL Technologies, and others. Currently, North America leads in market size, although Asia-Pacific is projected to be the fastest-growing region during the forecast period.

However, the market is not without challenges, notably due to shifting trade relations and global tariffs. The spring of 2025 saw U.S. tariffs prompt financial sector volatility, influencing investment strategies and increasing demand for risk management solutions. Consequently, the sector is focusing on diversification and digital adoption to maintain profitability amid economic uncertainties.

Overall, the IT solutions for banking market continues to evolve, driven by innovation and strategic partnerships that enhance digital services offerings. The adoption of technologies like AI, blockchain, and mobile solutions are pivotal in shaping the future landscape of banking IT solutions, ensuring secure, efficient, and customer-focused services globally.

Report Scope

Discover which regions present the largest and quickest growth for IT solutions in banking. Understand how this sector interacts with the global economy, demographics, and comparable markets. The report delves into forces that will reshape the industry, from technological innovations to regulatory changes and shifting consumer behaviors.

This in-depth analysis covers market characteristics, size, growth, segmentation, regional and national breakdowns, competitive landscape, and market share, coupled with trends and strategies tailored for the banking IT solutions domain.

• Markets Covered: Core Banking; Digital Banking; Risk and Compliance; Data Analytics and AI; Cybersecurity; Others.
• Deployment Mode: On-Premises; Cloud.
• Enterprise Size: Small and Medium Banks; Large Banks.
• Financial Technology: Blockchain; Peer-to-Peer Lending; Digital Payments; Robo-Advisory; Insurtech.

Companies Mentioned: Accenture, IBM, Capgemini, Cognizant, Infosys, Fiserv, DXC Technology, HCL Technologies, Wipro, FIS, TCS, Finastra, Avaloq, Temenos, Backbase, nCino, SAP Fioneer, Mambu, Thought Machine, Oracle Financial Services.

Geographies: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Time Series: Historical data for five years and a decade of forecast data.

Data: Market size and growth ratios to related markets, GDP ratios, expenditure per capita.

Data Segmentation: Historic and forecast data by country and region, competitor market share, market segments.

Sourcing and Referencing: Data and analysis throughout the report are meticulously sourced using end notes.

Key Attributes

The companies featured in this Information Technology (IT) Solutions for the Banking market report include:

• Accenture plc
• International Business Machines Corporation (IBM)
• Capgemini SE
• Cognizant Technology Solutions Corporation
• Infosys Limited
• Fiserv Inc.
• DXC Technology Company
• HCL Technologies Limited
• Wipro Limited
• Fidelity National Information Services Inc. (FIS)
• Tata Consultancy Services Limited (TCS)
• Finastra Group Holdings Limited
• Avaloq Group AG
• Temenos AG
• Backbase B.V.
• nCino Inc.
• SAP Fioneer GmbH
• Mambu GmbH
• Thought Machine Group Limited
• Oracle Financial Services Software Limited

For more information about this report visit https://www.researchandmarkets.com/r/wwk5gp

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• Information Technology (IT) Solutions for the Banking Market