Rapidly Expanding IT BFSI Market Pegged at $318.95 Billion by 2029 Driven by Digitalization and Advanced Cybersecurity Measures

Unprecedented Growth in IT BFSI Market Expected, Fueled by Regulatory Compliance, Security, Modernization and Disruptive Technology Innovations.

What Is The Projected Market Size Of The Global IT BFSI Market And Its Growth Rate?
•The IT BFSI market size has grown to $167.23 billion in 2024 and is expected to inflate further to $188.83 billion in 2025, with a compound annual growth rate (CAGR) of 12.9%.
•This growth is attributed to the demand for regulatory compliance, security, legacy system modernization, data analytics and business intelligence, and fintech disruption.
•Forecasting an even higher growth, the market size is expected to skyrocket to $318.95 billion in 2029 at an elevated compound annual growth rate (CAGR) of 14.0%.
•The principal drivers behind this expected growth include advanced cybersecurity measures, AI and machine learning integration, cloud adoption for scalability, open banking initiatives, and customer experience enhancement.

What Is Driving The Growth In The IT BFSI Market?
The growth of the IT BFSI market is being propelled by the increasing penetration rate of digital payment methods. Digital payment methods employ several types of electronic media to facilitate transactions, resulting in shorter queues and enhanced customer experience in stores. These methods eliminate the need for customers to visit a branch as all banking processes are digitalized, thus replacing the physical presence of the bank with a constant online presence, bolstered by information technology. For instance, Banked Ltd., the UK-based payments technology company, reported in November 2023 that US consumers are expanding their financial practices, with 79.2% of respondents now using 2-5 payment methods each month, up noticeably from 57% in 2022. Hence, the mushrooming use of digital payment methods is set to further fuel the growth of the IT BFSI market.

Request A Free Sample Copy:
https://www.thebusinessresearchcompany.com/sample.aspx?id=10375&type=smp

Who Are the Key Players Driving IT BFSI Market Growth?
•Microsoft Corporation
•Amazon Web Services Inc.
•Intel Corporation
•accenture* plc
•International Business Machines Corporation
•Oracle Corporation
•SAP SE
•Salesforce Inc.
•Hewlett Packard Enterprise
•Tata Consultancy Services (TCS)

What Are The Key Trends In The IT BFSI Market?
Major trends in the forecast period include:
•Rise of digital banking
•Continuing digital transformation
•Regulatory technology (RegTech)
•Blockchain and distributed ledger technology
•Customer-centric solutions

What Are The Segments Of The Global IT BFSI Market?
•By Service: Managed Services, Professional Services
•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
•By Deployment: On-Premise, Cloud
•By Organization Size: Small And Medium Enterprises, Large Enterprises

Which Region Leads The IT BFSI Market?
North America was the largest region in the IT BFSI market in 2024. This report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Pre-book the Report for Swift Delivery:
https://www.thebusinessresearchcompany.com/report/it-bfsi-global-market-report

What Is Covered In The IT BFSI Market Global Market Report?
- Market Size Analysis: Analyze the IT BFSI Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the IT BFSI Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall IT BFSI Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the IT BFSI Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

Request Customization for This Report:
https://www.thebusinessresearchcompany.com/customise?id=10375&type=smp

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.