Increasing focus on improving customer services and growing demand for early fraud detection in the BFSI sector is driving big data analytics in BFSI market growth.
Vancouver, BC -- (SBWIRE) -- 05/07/2021 -- The global big data analytics in BFSI market size is expected to reach USD 86.68 Billion in 2027 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Increasing focus to improve customer lifecycle in the BFSI industry, growing demand for early fraud detection in the BFSI industry, rising data volume generated by the capital market due to trading and transactions is resulting in high demand for big data analytics solutions.
Growing deployment of big data analytics in the insurance sector is driving growth of the insurance company segment, and this trend is expected to continue over the forecast period.
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Some Key Highlights of Report
Increasing adoption of descriptive analytics across insurance companies to extract business information in order to boost business growth while facilitating better service to customers is a key factor expected to drive revenue growth of the descriptive analytics segment during the forecast period.
Rising adoption of cloud technology by end-users such as banks and insurance service providers is expected to continue to support revenue growth of the cloud-based delivery segment during the forecast period.
Key market players include SAP SE, Oracle Corporation, Accenture plc, Alteryx Inc, International Business Machines Corporation, BigPanda, Inc., Nimbix, Inc., Gainsight, Inc., Fractal Analytics Inc., and Salesforce.com, Inc.
Acquisitions are a primary focus point in the global market and established players in are focusing on expanding and strengthening offerings and capabilities, while also expanding market footprint.
in April 2019, ClearStory Data Inc. was acquired by Alteryx Inc. Through this acquisition, Alteryx will strengthen its capabilities in the field of data analytics and data science.
Market Segmentation:
Emergen Research has segmented the global big data analytics in BFSI market on the basis of type, delivery, application, end-use, and region.
Type Outlook (Revenue, USD Billion; 2020–2027)
Descriptive Analytics
Diagnostic Analytics
Predictive Analytics
Prescriptive Analytics
Delivery Outlook (Revenue, USD Billion; 2020–2027)
Cloud-based
On-premises
Application Outlook (Revenue, USD Billion; 2020–2027)
Customer Relationship Management (CRM)
Fraud Detection
Risk Management
Operation Optimization
Customer Analytics
Others
End-use Outlook (Revenue, USD Billion; 2020–2027)
Insurance Companies
Capital Market
Banks
Key Geographies Encompassed in the Report:
North America (U.S., Canada)
Europe (U.K., Germany, Italy, France, Rest of EU)
AsiaPacific (India, Japan, China, Australia, Rest of APAC)
Latin America (Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key questions addressed:
What are the estimated CAGR for the global Big Data Analytics in BFSI market and each segment in the global market?
Which market segments and sub-segments have been covered in this report? Which of these segments is foreseen to exhibit the highest growth rate over the projected period? What are the most prominent industry aspects likely to impact the market values and shares of the regions viz., North America, Europe, Asia Pacific, Latin America, and Middle East &Asia? What do the SWOT analysis and Porter's five forces entailed in the report signify with respect to the future position of the market?
Which are the leading companies operating in the global Big Data Analytics in BFSI market? What are their strengths and weaknesses?
What are the most common market expansion strategies applied by the key market competitors to reinforce their market positions?
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Big Data Analytics in BFSI Market Segmentation & Impact Analysis
4.1. Big Data Analytics in BFSI Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Increasing focus to improve customer lifecycle
4.2.2.2. Growing demand for early fraud detection in the BFSI sector
4.2.2.3. Rising need for faster data processing in the BFSI industry
4.2.2.4. Increasing demand for customer analytics
4.2.3. Market restraints analysis
4.2.3.1. Issues related to data security
4.2.3.2. Inconsistency in data collection
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Big Data Analytics in BFSI Market By Type Insights & Trends Revenue (USD Billion)
5.1. Type Dynamics & Market Share, 2019 & 2027
5.1.1. Descriptive Analytics
5.1.2. Diagnostic Analytics
5.1.3. Predictive Analytics
5.1.4. Prescriptive Analytics
Chapter 6. Big Data Analytics in BFSI Market By Delivery Insights & Trends Revenue (USD Billion)
6.1. Delivery Dynamics & Market Share, 2019 & 2027
6.1.1. Cloud-based
6.1.2. On-premises
READ MORE…!
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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