Treasury Management Systems: Market Size & Forecast 2026

The global treasury management systems (TMS) market sits at approximately USD 7.8 billion in 2025 (base year) and we project USD 15.0 billion by 2032, an 9.8% CAGR (2026-2032). The category is a structurally supplier-favouring SaaS market with concentrated Tier-1 platforms (Kyriba, FIS, SAP, Oracle, ION/Treasury Intelligence Solutions, GTreasury), elevated switching costs, and regulatory catalysts (DORA, ISO 20022, Basel III endgame) lifting replacement demand across European and UK corporate treasuries. Our base case implies the market will compound inside the same band that published industry pricing reports converge to, anchored at the central estimate. > **Analyst Take.** Our view: the September 2025 USD 1B-plus GTreasury acquisition by Ripple, closed 3 December 2025, is the under-priced signal in the category. Treasury-as-a-Service is migrating from feature roadmap to M&A currency,

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