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(IT-NEWSWIRE.COM, September 16, 2018 ) This report covers the present scenario (with the base year being 2017) and the growth prospects of global BFSI IT market for 2018-2023.
Banking, Financial services and Insurance (BFSI) is an industry term for companies that provide a range of such financial products/services such as universal banks. BFSI comprises commercial banks, insurance companies, non-banking financial companies, cooperatives, pensions funds, mutual funds and other smaller financial entities.
The BFSI vertical is one of the major targets for cyber criminals, considering the sensitive information it holds. The vertical collects vital data including customers’ financial and other personal information and employee information. Therefore, the BFSI vertical is always on the radar of cyber security product and service vendors. With the advancements in cyber-attacks, the BFSI organizations face significant challenges to safeguard their databases from internal and external hackers. This is a major factor that contributes to the high adoption of cyber-security solutions in the BFSI vertical. This vertical is always improving its processing and transaction technologies. Also, the vertical continues to introduce new and improved financial products and services to improve its business operations. Cybercriminals are attracted toward this vertical to grab sensitive customer information. The stringent government regulations are another major factor that drives the adoption of cyber security solutions in the BFSI vertical.
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.
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.
Over the next five years, this report projects that BFSI IT will register a xx% CAGR in terms of revenue, reach US$ xx million by 2023, from US$ xx million in 2017.
This report presents a comprehensive overview, market shares and growth opportunities of BFSI IT market by product type, application, key companies and key regions.
To calculate the market size, this report considers value generated from the sales of the following segments:
Segmentation by product type:
ECM
CRM
ERP
Artificial Intelligence
Business Intelligence
Unified Communications
Segmentation by application:
Commercial Banks
Insurance Companies
Non-Banking Financial Companies
Cooperatives
Others
We can also provide the customized separate regional or country-level reports, for the following regions:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major players in the market. The key players covered in this report:
IBM
Microsoft
Accenture
Micro Focus
SAP
Cognizant
...
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global BFSI IT market size by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of BFSI IT market by identifying its various subsegments.
Focuses on the key global BFSI IT players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the BFSI IT with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of BFSI IT submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
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About NxtGen Reports: NxtGen Reports delivers strategic market research reports, industry analysis, business research and forecasts on product, services and companies. We understand the need of our customers and keep our market research reports up to date. Our reports are very well organized enabling our customers to identify and get access easily. We also offer customized discounts based on your expectations.
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Madhuri Vetal
NxtGen Reports
Email: sales@nxtgenreports.com
Phone: +918551022388
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NxtGen Reports
Madhuri Vetal
+918551022388
sales@nxtgenreports.com
Source: EmailWire.Com 
Source: EmailWire.com
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