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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The report titled ‘Global Big Data Analytics in BFSI Market’ is a comprehensive report that offers detailed research and analysis of key aspects of the global Big Data Analytics in BFSI market. The data is gathered through extensive primary and secondary research and further validated by industry experts and professionals. The report provides full coverage of the key driving factors, restraints, challenges, trends, and growth prospects to offer a complete overview of the global Big Data Analytics in BFSI market. New entrants and top players can benefit from the data offered by the report to plan effective business and investment strategies.
The key companies studied in the report are:
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.
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On the basis of regional analysis, the market is segmented into the following regions: North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The market is expected to be dominated by North American nations closely followed by European countries. Asia Pacific is expected to show a significant growth owing to recent advancements and rising investments in the RD sector.
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
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key findings from the report suggest
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.
Key Questions Answered in the Report:
What will be the estimated growth rate of the Big Data Analytics in BFSI market by 2027?
Who are the prominent distributors, vendors, and manufacturers of the market?
What are the driving and restraining factors of the growth of the Big Data Analytics in BFSI market throughout the forecast period?
What are the current and future market trends of the Big Data Analytics in BFSI market?
What are the sales and price analysis of the product by types, applications, and regions?
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