Digital Transformation in BFSI Market to Reach $310.67 Billion, Globally, by 2032 at 16.6% CAGR

Allied Market Research published a report, titled, "Digital Transformation in BFSI Market Component (Solution, and Service) Deployment Model (On-Premise, and Cloud) Enterprise Size (Large Enterprises, and Small and Medium-sized Enterprises) Technology (Artificial Intelligence, Cloud Computing, Blockchain, Big Data and Business Analytics, Cyber Security, and Others) and End User (Banks, Insurance Companies, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global digital transformation in BFSI industry generated $68.21 billion in 2022, and is anticipated to generate $310.67 billion by 2032, witnessing a CAGR of 16.6% from 2023 to 2032.

►𝐁𝐮𝐲 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐭 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭𝐞𝐝 𝐏𝐫𝐢𝐜𝐞 @
https://www.alliedmarketresearch.com/checkout-final/a61732270b00e956e72661b0c61703e8

Digital transformation in BFSI is a set of methodologies, tools and processes that is used for automating and digitizing activities in banking and fintech companies. It serves benefits like enhanced security features, better risk management process, automation of repetitive tasks

Prime determinants of growth

The key factors that impact on the growth of the market include the surge in need to improve the customer experience and increase in customizing of IT solutions for specific banking needs. In addition, exploration of digital channels to roll out new services at a faster pace drives the digital transformation in BFSI market growth across the globe. Furthermore, security and privacy concerns for confidential data is expected to affect the growth of the market to a certain extent. Moreover, an increase in adoption of advanced technology such as AI and machine learning is anticipated to influence the growth of the global market.

The big data and business analytics segment to maintain its leadership status throughout the forecast period
Based on technology, the big data and business analytics segment held the highest market share in 2022, accounting for nearly one-third of the global digital transformation in BFSI market revenue, and is estimated to maintain its leadership status throughout the forecast period, owing to the surge in adoption of big data analytics software by various organizations to deliver enhanced & faster decision-making and to provide competitive advantage by analyzing and acting upon information in a timely manner. However, the blockchain segment is projected to manifest the highest CAGR of 21.4% from 2023 to 2032, owing to the increase in need for transactions transparency & accountability, and greater adoption in cross-border payments.

►𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂 : https://www.alliedmarketresearch.com/request-sample/A10570

The large enterprises segment to maintain its leadership status throughout the forecast period

Based on enterprise size, the large enterprises segment held the highest market share in 2022, accounting for more than two-thirds of the global digital transformation in BFSI market revenue, owing to rise in different factors among the large enterprises which include assets protection, reputation management, supply chain risks, IP protection, and competitor analysis. However, the small and medium-sized enterprises segment is projected to manifest the highest CAGR of 18.6% from 2023 to 2032, owing to surge in the adoption of digital services among SMEs to upsurge their revenue opportunities and to increase their market value across the globe.

North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global digital transformation in BFSI revenue. This is attributed to increase in demand to transform traditional business operations into digital across the region and rapid adoption of IoT solutions, mobile devices, and cloud technology among the banking and fintech industries. However, the Asia-Pacific region is expected to witness the fastest CAGR of 19.7% from 2023 to 2032, and is likely to dominate the market during the forecast period, owing to rise in investment in digital transformation solution by various venders in order to prevent and detect threats at early stages.

Leading Market Players: -
Alphasense Inc.
Cognizant
FUJITSU
Google, LLC
HID Global Corporation
International Business Machines Corporation
Microsoft Corporation
Oracle Corporation
SAP SE

►𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠:
https://www.alliedmarketresearch.com/purchase-enquiry/A10570

The report provides a detailed analysis of these key players of the global digital transformation in BFSI market. These players have adopted different strategies such as partnership, product launch, and expansion to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Key Benefits for Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the digital transformation in BFSI market forecast from 2022 to 2032 to identify the prevailing digital transformation in BFSI market opportunity.
Market research is offered along with information related to key drivers, restraints, and opportunities of digital transformation in BFSI market outlook.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the digital transformation in BFSI market segmentation assists in determining the prevailing digital transformation in BFSI market opportunity.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes an analysis of the regional as well as global digital transformation in BFSI market trends, key players, market segments, application areas, and market growth strategies.

►𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧:
https://www.alliedmarketresearch.com/request-for-customization/A10570

🔰𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬🔰
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