IT BFSI Market To Reach USD 231.33 Billion By 2026 | Reports And Data

IT BFSI Market Size – USD 90.88 Billion in 2018, Market Growth - CAGR of 12.3%, IT BFSI Industry Trends-Emergence of countless new opportunities for IT in BFSI with more secured processes

New York, July 25, 2019 (GLOBE NEWSWIRE) -- The growth of the market is governed by various factors such as growing demand for consumer electronics and reliable and safe methods for various BFSI purposes

The IT BFSI Market is expected to reach USD 231.33 Billion by 2026, according to a new report by Reports and Data. The increase in growth is mainly associated with the increase in consumer electronics like smart phones, laptop among others coupled with adoption of advanced technology services that allow thousands of customers to access similar resources helping companies to cut down their expenses. Based on statistics, the penetration of advanced cloud based platforms that helps to develop new technology is also a significant factor stimulating market demand.

The BFSI sector is gaining popularity in the adoption of computer & networking systems to reduce large, space-intensive databases, and is leading the race for the adoption of Cloud technology as well.

The changing and competitive BFSI market is defined by shifting consumer demands, growing macroeconomic landscape and connected by a regulatory framework. Technologies such as Cloud will enable the sector to drive the challenges by reducing support costs, automating non-core business purposes such as ERP and CRM, and deliver innovative products to their customers. The growing requirement for customer satisfaction and customized transaction experience drives the market among the financial institutes to enhance customer experience, gain customer loyalty along with high intensity of competition among the market players. The competition among the market players is growing, and the demands from financial institutes for cutting-edge technologies are increasing to implement a better experience and engage customers.

Due to the presence of advanced economies, like the United States (US) and Canada, North America is estimated to hold the largest share of 77.3% in 2018. North America is the most developed region in the BFSI market, as almost all large BFSI and IT enterprises are located in this region. The region’s powerful financial position also allows it to invest heavily in advanced testing tools and technologies. These improvements have provided North American organizations a competitive edge in the market.     

Request free sample of this research report at:

Further key findings from the report suggest

  • The IT BFSI Market is estimated to reach USD 231.33 Billion by 2026, at a CAGR of 12.3% during the forecast period.
  • The On-premise segment is anticipated to grow at a higher rate of 12.4% during the forecast period.
  • The demand for this method is increasing, along with the growing adoption of the IT BFSI among corporate since it is effortless and time efficient.
  • The market size large organization accounts for a larger share of 63.8% of the market in 2018.
  • Various BFSI transactions by implementing IT have emerged rapidly due to the growing preference of customers to perform transactions effortlessly without any inconvenience.
  • APAC is forecasted to be the fastest growing market with the highest rate of 13.1% during the forecast period.
  • The drivers for the growth of this region are the presence of key players, favorable reimbursement policies, and rising use of technology in the emerging countries along with several initiatives taken by the government.
  • Various players are developing strategies to mark their presence in the industry.
  • R&D initiatives by companies to improve enhanced products that have a broad application base are anticipated to create tremendous growth possibilities for industry participants.
  • It is expected that, with the evolving technological advancements, BFSI organizations will include sources of deep business focus, pervasive analytics, pure agnosticism, open source, and extensive automation as architectural policies, to attain new levels of agility, scalability, and flexibility.
  • The Key players in the IT BFSI Market include Accenture, Adobe Systems, CA Technologies, Cognizant, IBM, Micro Focus, Microsoft, Oracle, SAP, Salesforce

To identify the key trends in the industry, click on the link below:

Segments covered in the report:

For the purpose of this study, Reports and Data have segmented the IT BFSI market on the basis of Deployment, Technology, Organization Size, Services and region:                     

Deployment Outlook (Revenue, USD Million; 2018-2026)

  • On-premises
  • Cloud

Technology Outlook (Revenue, USD Million; 2018-2026)

  • Cyber security
  • Artificial Intelligence
  • Business Intelligence
  • ERP
  • HCM
  • ECM
  • CRM
  • Unified Communications

Organization Size Outlook (Revenue, USD Million; 2018-2026)

  • Large Enterprises
  • SMEs

Services Outlook (Revenue, USD Million; 2018-2026)

  • Professional
  • Managed

Order Now:

Regional Outlook (Revenue, USD Billion ; 2018-2026)

  • North America
    • U.S.
  • Europe
    • France
    • UK
  • Asia Pacific
    • China
    • India
    • Japan
  • Latin America
    • Brazil
  • Middle East and Africa

Browse more similar reports on Software and Services category by Reports And Data

Digital Insurance Platform Market -

Wealth Management Platform Market -

Service Integration and Management (SIAM) Market -

About Reports and Data

Reports and Data 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 client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.


Contact Data