The report pays special attention to the key elements of the Big Data Analytics in BFSI Market, such as drivers, restraints, opportunities, threats, risks, limitations, and other aspects. The report covers a comprehensive analysis of the competitive landscape with a detailed analysis of the company profiles, product portfolio, and business expansion strategies.
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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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.
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Key market players 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.
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)
Application Outlook (Revenue, USD Billion; 2020–2027)
- Customer Relationship Management (CRM)
- Fraud Detection
- Risk Management
- Operation Optimization
- Customer Analytics
End-use Outlook (Revenue, USD Billion; 2020–2027)
- Insurance Companies
- Capital Market
Key takeaways of the Global big data analytics in BFSI Market report:
- The report sheds light on the fundamental big data analytics in BFSI market drivers, restraints, opportunities, threats, and challenges.
- It elaborates on the new, promising arenas in the leading big data analytics in BFSI market regions.
- It examines the latest research development projects and technological innovations taking place in the key regional segments.
- The research report reviews the regulatory framework for creating new opportunities in various regions of the big data analytics in BFSI market
- It focuses on the new revenue streams for the players in the emerging markets.
- Furthermore, the report offers vital details about the rising revenue shares and the sizes of the key product segments.
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