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IT BFSI Market Report 2023: Size, Share, Growth, Trends, Regions, Type And Application, Forecast To 2032
IT BFSI Market
The Business Research Company's IT BFSI Global Market Report 2023 identifies increasing penetration rate of digital payment methods as the major driver for the IT BFSI market's growth in the forecast period. Digital payment refers to transactions made using several kinds of electronic media. Digital payments result in shorter queues and enhance the customer's in-shop experience and the requirement for customers to visit a branch is also eliminated since all banking processes are digitalized and the bank's physical presence is replaced with an ongoing online presence with the help of information technology.
The global IT BFSI market size is expected to grow from $130.52 billion in 2022 to $149.50 billion in 2023 at a compound annual growth rate (CAGR) of 14.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global IT BFSI market size is expected to reach $244.84 billion in 2027 at a CAGR of 13.1%.
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Major competitors in the IT BFSI market are International Business Machines Corporation, Oracle Corporation, Microsoft Corporation, CA Technologies Inc., Salesforce Inc., SAP SE, Amazon Web Services Inc., Hewlett Packard Enterprise, Intel Corporation, JPMorgan Chase & Co., ConsenSys, Akamai Technologies Inc., AlphaPoint, and Bitfury Group Limited
A key trend in the IT BFSI market includes technological advancement. Major companies operating in the IT BFSI market are developing innovative technologies to strengthen their position in the market.
Read More On The Global IT BFSI Market Report Here:
https://www.thebusinessresearchcompany.com/report/it-bfsi-global-market-report
The IT BFSI market is segmented -
1) By Service: Managed Services, Professional Services
2) By Technology: Cyber Security, Artificial Intelligence, Business Intelligence, ERP (Enterprise Resource Planning), HCM (Human Capital Management), ECM (Enterprise Content Management), CRM (Customer Relationship Management), Unified Communications
3) By Deployment: On-Premise, Cloud
4) By Organization Size: Small And Medium Enterprises, Large Enterprises
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the IT BFSI market.
The Business Research Company's "Global IT BFSI Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The IT BFSI Market Include:
1. Executive Summary
2. IT BFSI Market Characteristics
3. IT BFSI Market Trends And Strategies
4. IT BFSI Market - Macro Economic Scenario
5. IT BFSI Market Size And Growth
.......
26. Africa IT BFSI Market
27. IT BFSI Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The IT BFSI Market
29. IT BFSI Market Future Outlook and Potential Analysis
30. Appendix
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