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BFSI IT Market 2019 Global Industry Technology, Growth, Regional Outlook, Key Players (IBM, Microsoft, Accenture, Micro Focus, SAP, Cognizant) and Demand Forecast 2023

03-11-2019 07:13 AM CET | IT, New Media & Software

Press release from: Orian Research

BFSI IT Market

BFSI IT Market

BFSI IT Market studies an industry term for companies that provide a range of such financial products/services such as universal banks. BFSI comprises commercial banks, insurance companies, non-banking financial companies, cooperatives, pension’s funds, mutual funds and other smaller financial entities.

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This report studies the BFSI IT market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the BFSI IT market by product type and applications/end industries.

The BFSI vertical is one of the major targets for cyber criminals, considering the sensitive information it holds. The vertical collects vital data including customers’ financial and other personal information and employee information. Therefore, the BFSI vertical is always on the radar of cyber security product and service vendors. With the advancements in cyber-attacks, the BFSI organizations face significant challenges to safeguard their databases from internal and external hackers.

This is a major factor that contributes to the high adoption of cyber-security solutions in the BFSI vertical. This vertical is always improving its processing and transaction technologies. Also, the vertical continues to introduce new and improved financial products and services to improve its business operations. Cybercriminals are attracted toward this vertical to grab sensitive customer information. The stringent government regulations are another major factor that drives the adoption of cyber security solutions in the BFSI vertical.

Global BFSI IT Market is spread across 137 pages, profiling 06 top companies and supported with tables and figures.

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BFSI IT Industry Segment by Manufacturers:
• IBM
• Microsoft
• Accenture
• Micro Focus
• SAP
• Cognizant

Artificial intelligence (AI) technology is expected to penetrate further into the BFSI sector in coming years, with an objective to enhance customer experience and aid their operational processes. Automating operational processes by implementing the AI technology is likely to reduce the operational costs and speed up the banking operations.

North America is estimated to hold the largest market share in 2017, while APAC is expected to be the fastest-growing region in terms of CAGR during the forecast period.

The global BFSI IT market is valued at xx million USD in 2017 and is expected to reach xx million USD by the end of 2023, growing at a CAGR of xx% between 2017 and 2023.

The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.

North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of BFSI IT.

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Market Segment by Types can be divided into:
• ECM
• CRM
• HCM
• ERP
• Artificial Intelligence
• Business Intelligence
• Unified Communications

Market Segment by Applications can be divided into:
• Commercial Banks
• Insurance Companies
• Non-Banking Financial Companies
• Cooperatives
• Others

Market Segment by Regions, regional analysis covers:
• North 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)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

About Us
Orian Research is one of the most comprehensive collections of market intelligence reports on the World Wide Web. Our reports repository boasts of over 500000+ industry and country research reports from over 100 top publishers. We continuously update our repository so as to provide our clients easy access to the world's most complete and current database of expert insights on global industries, companies, and products. We also specialize in custom research in situations where our syndicate research offerings do not meet the specific requirements of our esteemed clients.

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Vice President – Global Sales & Partner Relations
Orian Research Consultants
US +1 (415) 830-3727 | UK +44 020 8144-71-27
Email: info@orianresearch.com
Website: www.orianresearch.com/
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