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IT BFSI Market - By Component (Technology and Services), By Organization Size (Large Enterprises and SMEs), By Deployment Type (Cloud and On-Premises), And By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026

Published Date: 22-Oct-2020 Category: Technology & Media Report Format : PDF Pages: 110 Report Code: ZMR-3040 Status : Published

Global IT BFSI market, which was estimated at 100.80(USD Billion) in 2019 and is predicted to accrue earnings worth 153.45 (USD Billion) by 2026, is set to record a CAGR of nearly 12.2% over 2020-2026.

Description

The global IT BFSI market, which was estimated at 100.80(USD Billion) in 2019 and is predicted to accrue earnings worth 153.45 (USD Billion) by 2026, is set to record a CAGR of nearly 12.2% over 2020-2026. The report offers valuation and analysis of IT BFSI market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2016 to 2019 along with a forecast from 2020 to 2026 based on value (USD Billion).

Introduction

Escalating necessity for improving end-user experience in BFSI sector and huge focus on online marketing is likely to generate the need for using IT services in BFSI sector. Apparently, massive acceptance of networking & computing systems along with the use of cloud computing tools will result in huge penetration of IT activities in the BFSI industry over the ensuing years. In addition to this, IT firms are supporting the expansion of BFSI sector and helping latter explore new untapped markets. In addition to this, software enterprises provide various BFSI services via different distribution channels.

Market Growth Drivers

Large-scale requirement of giant firms to integrate IT activities with BFSI solutions to safeguard their data along with cataloguing it systematically will propel the market growth in the years ahead. In addition to this, need for fulfilling consumer needs and provide seamless experience to the end-users apart from increasing customer loyalty & facilitating repeat purchases is projected to drive the expansion of IT BFSI industry over the ensuing years. Moreover, launching of IoT & analytic tools for carrying out banking operations with ease is predicted to drive the market trends.

Furthermore, huge demand for cutting-edge techniques in financial institutions to facilitate customer engagement will determine the growth of IT BFSI industry over the forthcoming years. In addition to this, rapid digitization of BFSI processes and enforcement of strict laws by government authorities to halt data theft or information leakage & data breach will spearhead the expansion of IT BFSI industry over the ensuing years.

North American Market Growth To Reach Scalable Heights By 2026

Large-scale collaboration & partnerships taking place between giant IT firms and BFSI enterprises in the countries like the U.S. and Canada will promote the regional market growth trends. In addition to this, huge spending on purchase of software products & deployment of IT systems by the firms in BFSI business along with efforts made by these firms for improving their IT infrastructure will catalyze the industry space over the years ahead. Immense penetration of new technologies in BFSI industry will favor the market progression in the region within the next couple of years. Apart from this, the region being early adopter of new technologies, the players in the market are likely to derive early mover advantage as well as competitive edge over players based in other regions. This is predicted to play a prominent role in raising the market profitability in the region, thereby driving the regional market expansion.  

Key players influencing the market growth are Accenture, Salesforce, Microsoft, Cognizant, IBM, Micro Focus, CA Technologies, Adobe Systems, SAP, and Oracle.

The global IT BFSI market is segmented as follows:

By component:

  • Technology Types
    • ERP
    • ECM
    • CRM
    • HCM
    • Artificial Intelligence
    • Cyber Security
    • Unified Communication
    • Business Intelligence
  • Services
    • Managed Services
    • Professional Services
      • System Integration
      • Consulting
      • Support & Maintenance

By organization size:

  • SMEs
  • Large Enterprises

By deployment type:

  • Cloud
  • On-premises

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1. Report Description and Scope
    • 1.2. Research Scope
    • 1.3. Research Methodulogy
      • 1.3.1. Market Research Process
      • 1.3.2. Market Research Methodulogy
  • Chapter 2. Executive Summary
    • 2.1. IT BFSI Market, 2016–2026 (USD Billion)
    • 2.2. IT BFSI Market: Snapshot
  • Chapter 3. Global IT BFSI Market– Industry Analysis
    • 3.1. IT BFSI Market: Market Dynamics
    • 3.2. Market Drivers
      • 3.2.1. Huge demand for cutting-edge techniques in financial institutions to facilitate customer engagement will determine the growth of IT BFSI industry over the forthcoming years.
      • 3.2.2. Rapid digitization of BFSI processes and enforcement of strict laws by government authorities to halt data theft or information leakage & data breach will spearhead the expansion of IT BFSI industry over the ensuing years.
    • 3.3. Porter’s Five Forces Analysis
    • 3.4. Market Attractiveness Analysis
      • 3.4.1. Market attractiveness analysis By Component
      • 3.4.2. Market attractiveness analysis By Deployment Type
      • 3.4.3. Market attractiveness analysis By Organization Size
  • Chapter 4. Global IT BFSI Market– Competitive Landscape
    • 4.1. Company market share analysis
      • 4.1.1. Global IT BFSI Market: company market share, 2018
    • 4.2. Strategic development
      • 4.2.1. Acquisitions & mergers
      • 4.2.2. New Vehicle launches
      • 4.2.3. Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4. Research and development and Regional expansion
    • 4.3. Price trend analysis
  • Chapter 5. Global IT BFSI Market– Component Analysis
    • 5.1. Global IT BFSI Market overview: By Component
      • 5.1.1. Global IT BFSI Market share, By Component , 2019 and 2026
    • 5.2. Technulogy
      • 5.2.1. Global IT BFSI Market By Technulogy, 2016–2026 (USD Billion)
    • 5.3. Services
      • 5.3.1. Global IT BFSI Market By Services, 2016–2026 (USD Billion)
  • Chapter 6. Global IT BFSI Market– Deployment Type Analysis
    • 6.1. Global IT BFSI Market overview: By Deployment Type
      • 6.1.1. Global IT BFSI Market share, By Deployment Type, 2019 and 2026
    • 6.2. Cloud
      • 6.2.1. Global IT BFSI Market By Cloud , 2016–2026 (USD Billion)
    • 6.3. ON-PREMISES
      • 6.3.1. Global IT BFSI Market By ON-PREMISES, 2016–2026 (USD Billion)
  • Chapter 7. Global IT BFSI Market– Organization Size Analysis
    • 7.1. Global IT BFSI Market overview: By Organization Size
      • 7.1.1. Global IT BFSI Market share, By Organization Size , 2019 and 2026
    • 7.2. Large Enterprises
      • 7.2.1. Global IT BFSI Market By Large Enterprises, 2016–2026 (USD Billion)
    • 7.3. SMEs
      • 7.3.1. Global IT BFSI Market By SMEs, 2016–2026 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1. Microsoft
      • 8.1.1. Overview
      • 8.1.2. Financials
      • 8.1.3. Product Portfulio
      • 8.1.4. Business Strategy
      • 8.1.5. Recent Developments
    • 8.2. IBM
      • 8.2.1. Overview
      • 8.2.2. Financials
      • 8.2.3. Product Portfulio
      • 8.2.4. Business Strategy
      • 8.2.5. Recent Developments
    • 8.3. Micro Focus
      • 8.3.1. Overview
      • 8.3.2. Financials
      • 8.3.3. Product Portfulio
      • 8.3.4. Business Strategy
      • 8.3.5. Recent Developments
    • 8.4. Accenture
      • 8.4.1. Overview
      • 8.4.2. Financials
      • 8.4.3. Product Portfulio
      • 8.4.4. Business Strategy
      • 8.4.5. Recent Developments
    • 8.5. Adobe Systems
      • 8.5.1. Overview
      • 8.5.2. Financials
      • 8.5.3. Product Portfulio
      • 8.5.4. Business Strategy
      • 8.5.5. Recent Development
    • 8.6. CA Technulogies
      • 8.6.1. Overview
      • 8.6.2. Financials
      • 8.6.3. Product Portfulio
      • 8.6.4. Business Strategy
      • 8.6.5. Recent Development
    • 8.7. Salesforce
      • 8.7.1. Overview
      • 8.7.2. Financials
      • 8.7.3. Product Portfulio
      • 8.7.4. Business Strategy
      • 8.7.5. Recent Development
    • 8.8. SAP
      • 8.8.1. Overview
      • 8.8.2. Financials
      • 8.8.3. Product Portfulio
      • 8.8.4. Business Strategy
      • 8.8.5. Recent Development
    • 8.9. Cognizant
      • 8.9.1. Overview
      • 8.9.2. Financials
      • 8.9.3. Product Portfulio
      • 8.9.4. Business Strategy
      • 8.9.5. Recent Development
    • 8.10. Oracle
      • 8.10.1. Overview
      • 8.10.2. Financials
      • 8.10.3. Product Portfulio
      • 8.10.4. Business Strategy
      • 8.10.5. Recent Development

Methodology


Frequently Asked Questions

Large-scale requirement of giant firms to integrate IT activities with BFSI solutions to safeguard their data along with cataloguing it systematically will propel the market growth in the years ahead. In addition to this, need for fulfilling consumer needs and provide seamless experience to the end-users apart from increasing customer loyalty & facilitating repeat purchases is projected to drive the expansion of IT BFSI industry over the ensuing years. Moreover, launching of IoT & analytic tools for carrying out banking operations with ease is predicted to drive the market trends.

According to Zion Market Research report,  the global IT BFSI market, which was estimated at 100.80(USD Billion) in 2019 and is predicted to accrue earnings worth 153.45 (USD Billion) by 2026, is set to record a CAGR of nearly 12.2% over 2020-2026.

North America is likely to make noteworthy contributions towards overall market revenue in the upcoming timeframe. The growth of the market in the region during the time interval from 2020 to 2026 can be attributed to huge spending on purchase of software products & deployment of IT systems by the firms in BFSI business along with efforts made by these firms for improving their IT infrastructure will catalyze the industry space over the years ahead. Immense penetration of new technologies in BFSI industry will favor the market progression in the region within the next couple of years.

The key players profiled in the report include Microsoft, IBM, Micro Focus, Accenture, Adobe Systems, CA Technologies, Salesforce, SAP, Cognizant, and Oracle.
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