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$149.74 Billion IT BFSI Market Report 2017 - Global Forecasts to 2022 - Research and MarketsThe "IT BFSI Market - Global Forecast to 2022" report has been added to Research and Markets' offering. The IT BFSI market size is expected to grow from USD 82.06 billion in 2017 to USD 149.74 billion by 2022, at a CAGR of 12.8% during the forecast period This market is majorly driven by an increasing need to enhance customer experience in order to gain an edge in the highly competitive market and the launch of advanced technologies that are specifically customized to meet the needs of BFSI operations. On the other hand, security concerns due to advanced cyber security-attacks are expected to hinder the growth of the market during the forecast period. 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. Furthermore, AI is expected to streamline and ease the cumbersome processes of banking operations, which helps BFSI organizations to deliver better service to their customers. The BFSI vertical is expected to invest heavily in I technologies during the forecast period, in order to optimize their operations and improve customer experience. The large enterprises segment is expected to hold a higher market share during the forecast period. Large enterprises have been investing heavily in advanced IT technologies and services to upgrade their IT infrastructure to match up with the latest market trends and dynamic demands. Large banks allocate budgets for upgrading their IT infrastructure, as IT solutions play a significant role in streamlining their entire business operations at multiple locations. 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. APAC provides growth opportunities for IT vendors targeting the BFSI vertical during the forecast period, considering the increasing commercial investments in the emerging economies in the region. The BFSI organizations have been keen on exploring untapped opportunities in the APAC region, thus creating opportunities for IT vendors IT BFSI solutions and services. Major vendors that offer various BFSI IT solutions and services include IBM (US), Microsoft (US), Accenture (Ireland), Micro Focus (UK), CA Technologies (US), Adobe Systems (US), SAP (Germany), Salesforce (US), Oracle (News - Alert) (US), and Cognizant (US). Key Topics Covered: 1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 5 Market Overview 6 IT BFSI Market, By Component 7 IT BFSI Market, By Organization Size 8 IT BFSI Market, By Deployment Type 9 IT BFSI Market, By Region 10 Competitive Landscape 11 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/vwl9tq/it_bfsi_market View source version on businesswire.com: http://www.businesswire.com/news/home/20171205006012/en/ |
