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. These factors are expected to continue to boost growth of the global big data analytics in BFSI market over the forecast period.
However, data safety issues related to big data analytics solutions are associated risks and concerns are factors expected to restrain growth of the global big data analytics in BFSI market to some extent during the forecast period.
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Key Benefits of the Report:
- Comprehensive analysis of the competitive scenario and its changing dynamics
- Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
- In-depth 8-year analysis of the Global Big Data Analytics In BFSI Market
- Critical understanding of the key market segments
- Comprehensive analysis of the drivers, restraints, trends, and opportunities
- Detailed regional analysis and extensive company profiling
- Extensive assessment of current and emerging trends of the market
The report is an investigative study of the technological developments and product advancements, along with a regional analysis for each product and application offered in the market. The fundamental objective of the report is to give an insight into the workings of the Big Data Analytics In BFSI industry. It provides an accurate and strategic outlook of the market with a thorough assessment of the segments and sub-segments of the market. It provides a panoramic view of the industry to offer a deeper understanding of the global industry.
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Key companies operating in the Big Data Analytics In BFSI market 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., Others
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.
- Increasing incidence of fraudulent healthcare insurance claims and increasing need for more effective solutions to prevent payer losses is a key factor expected to support revenue growth of the fraud detection segment during the forecast period.
- 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.
- Robust presence of international and domestic players, including Alteryx Inc., BigPanda, Inc., Nimbix, Inc., and Salesforce.com, Inc., among others, in countries in North America is driving growth of the market in the region to a significant extent.
- 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.
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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
Regional Outlook (Revenue, USD Billion; 2020–2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
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Key Questions Addressed in the Report:
- Who are the leading players in the Big Data Analytics In BFSI industry?
- Which region is expected to dominate the market in the coming years?
- What are the key applications of Big Data Analytics In BFSI?
- Which segment is expected to garner traction during the coming years?
- What are the key strategies adopted by leading players in the market?
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