Albany, NY -- (SBWIRE) -- 05/18/2018 -- The financial services are among the most data-driven industries. Financial services institutions operate within regulatory environments that require firms to store and analyze several years of transactional data. For making the most from the businesses, financial services relies on relational technologies coupled with business intelligence tools to handle the ever increasing data and analytics burden. In todays world of information, the financial service industry is witnessing a disruptive change in the way do businesses worldwide. Regulatory reforms majorly drive this change. Ailing business and customer settlements, continuous economic crisis in other industry verticals, high cost of new technology and business models, and high degree of industry consolidation and automation are some of the other growth drivers.

Many financial services currently focus on improving their traditional data infrastructure as they have been addressing issues such as customer data management, risk, workforce mobility, and multichannel effectiveness. These daily problems led financial organization to deploy big data as a long-term strategy. By the end of 2014, big data has turned out to be the fastest growing technology adopted by the financial institutions over the past five years.

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Covered in this report

This report covers the present scenario and the growth prospects of the global big data IT spending in financial services for 2015-2019. To calculate the market size, the report considers revenue generated from the sale of big data solutions only in the financial services sector.

It includes big data hardware, software, and services revenue to calculate the market size. In order to calculate hardware, software, and IT services spending, the following sub-segments have been considered:

Hardware: Servers, networking equipment, and storage equipment
Software: Apache Hadoop-related solutions and cloud solutions
Services: Analytics, consulting, support, and professional services

Technavio's report, Global Big Data IT Spending in Financial Services Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers Americas, APAC, and EMEA. It also covers the landscape of the global big data IT spending in financial services market and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.

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Key regions
Americas
APAC
EMEA

Key vendors
Capgemini
IBM
Oracle
SAP
SAS Institute

Other prominent vendors
Alteryx
Atos
Chartio
Cirro
Clearstory Data
Continuum Analytics
Datameer
DataStax
Emc2
Enthought
Maana
MapR technologies
Predixion Software

Key market driver
Explosive data growth
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Key market challenge
Lack of big data technology expertise
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Key market trend
High spending in customer engagements
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Key questions answered in this report
What will the market size be in 2019 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?