The ‘ Digital Transformation in BFSI market’ research report added by Report Ocean, is an in-depth analysis of the latest developments, market size, status, upcoming technologies, industry drivers, challenges, regulatory policies, with key company profiles and strategies of players. The research study provides market overview, Digital Transformation in BFSI market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Digital Transformation in BFSI market size forecast, market data & Graphs and Statistics, Tables, Bar & Pie Charts, and many more for business intelligence.
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Global Digital Transformation in BFSI Market is valued at approximately USD 72 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 18.4% over the forecast period 2020-2027.
Digital transformation in banking, financial services, and insurance (BFSI) is a set of methodologies, processes, and tools, which is increasingly used by modern companies to enhance their operational activities and to increase sales. The key objective for incorporating digital transformation technologies in BFSI is to digitize and automate processes in the banking & fintech organizations and streamline the crucial process of the organization. Although, in the last decade, the advancements in technology have a decisive effect on the BFSI industry, with artificial intelligence (AI) is being at the forefront of technological advancements and innovations. While the extent of AI has gained a wide acceptance in BFSI, as its incorporation is even at an emerging stage and requires finetuning around consumer sensitization and security framework. Therefore, the demand for digital transformation in BFSI is significantly rising all over the world. Furthermore, the increase in adoption of digital technology in various public and private banks and financial institutions, along with the rising need of digital services to improve customer experience are the few factors responsible for the high CAGR of the market during the forecast period. Many banking and fintech companies are actively employing digital transformation technology to attain truly phenomenal results in operational activities. For instance, ZestFinance, a maker of the Zest Automated Machine Learning (ZAML) platform, using an AI-powered underwriting solution that helps companies to assess borrowers with little to no credit information or history. Also, according to ZestFinance, auto lenders using machine-learning underwriting cut losses by 23% annually, more accurately predicted risk and reduced losses by more than 25%. Therefore, providers of digital transformation in BFSI are experiencing huge upturn, thereby, the market is significantly growing worldwide. However, the high implementation and maintenance cost of digital technology in BFSI are the few factors impeding the market growth over the forecast period of 2020-2027.
The regional analysis of the global Digital Transformation in BFSI market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing funding on digitalization of BFSI sector, along with the wide presence of market players incorporating digital solutions and platforms for automating their operations in the region. Whereas, Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
- Alphasense Inc.
- Fujitsu Corp.
- Google LLC
- HID Global Corp.
- IBM Corp.
- Microsoft Corp.
- Oracle Corp.
- SAP SE
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
- Artificial Intelligence
- Cloud Computing
- Big Data and Business Analytics
- Cyber Security
By Deployment Model:
By Enterprise Size:
- Large Enterprises
- Small & Medium Enterprises
Geographical Breakdown: Regional level analysis of the market, currently covering North America, Europe, China & Japan
Countries: Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam
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The Global Digital Transformation in BFSI Market report provides the meticulously studied and evaluated data of the top industry players and their scope in the market by means of several analytical tools. The analytical tools such as Porters five forces analysis, feasibility study, SWOT analysis, and ROI analysis have been practiced reviewing the growth of the key players operating in the market.
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Key Points Covered in Digital Transformation in BFSI Market Report: Study Explore COVID 19 Outbreak Impact Analysis
Table of Contents
List of Figures
List of Tables
Segmentation By Geography
Digital Transformation in BFSI Market Characteristics
Supply Chain And Key Participants
Digital Transformation in BFSI Market Size And Growth
Historic Market Growth, Value ($ Billion)
Drivers Of The Market
Restraints On The Market
Forecast Market Growth, Value ($ Billion)
Digital Transformation in BFSI Global Market PESTEL Analysis by Political, Economic, Social, Technological, Environmental, Legal
Digital Transformation in BFSI Customer Information
Brand Experience And Customer Support Influence Purchasing Decision
Digital Transformation in BFSI Market, Regional And Country Analysis
Global Digital Transformation in BFSI Market, , By Region, Value ($ Billion)
Global Digital Transformation in BFSI Manufacturing Market, Historic And Forecast, Segmentation
Digital Transformation in BFSI Market Overview
Global Digital Transformation in BFSI Market Top Opportunities By Segment
Global Digital Transformation in BFSI Market Top Opportunities By Country
Global Digital Transformation in BFSI Market Strategies
Strategies based on market trends
Strategies Adopted By Leading Competitors
Copyright and Disclaimer
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