Allied Market Research

2024

Big Data Analytics In Bfsi Market

Big Data Analytics in BFSI Market Size, Share, Competitive Landscape and Trend Analysis Report by End User (Insurance Companies, Banks, Capital Markets), by Application (Risk Management, Operations Optimization, Customer Relationship Management, Others), by Type (Descriptive Analytics, Diagnostic Analytics, Prescriptive Analytics, Predictive Analytics) and by Deployment Mode (On-premise, Cloud): Global Opportunity Analysis and Industry Forecast, 2023-2032

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Author's: | Vineet Kumar
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Big data in BFSI refers to large voluminous data sets that are heterogeneous in nature and generated timely in the financial services through different activities such as ATM transactions, cash transaction, online fund transfer, account opening, risk assessment, payment clearance, and other activities. The need to provide personalized services to the user and dynamic government regulatory environment generate the demand for big data analytics in the BFSI market.

The global big data analytics in BFSI market is driven by rapid growth in data due to transactions through a different mode, risk management, and customized product offerings to the clients. In addition, high need for better customer service, a broad range of financial products, and need for consumer insights related to their investment and transaction behavior fuel the market growth.

However, surge in online transaction frauds, lack of IT awareness, and data privacy & security are expected to restrict this growth. The boost in operational efficiency and transparency in business processes through big data analytics are opportunities for market development.

The big data analytics in BFSI market is segmented based on end user, application, and geography. On the basis of end user, it is divided into banking, capital market, and insurance. According to the application, the market is classified into risk management, operations optimization, customer relationship management, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Comprehensive competitive analysis and profiles of major market players such as Accenture, Aerospike Inc., Alpine Data, BAE Systems, BigPanda, Inc., Clustrix, Datameer Inc., Gainsight, IBM Corporation, and Nimbix, Inc., are also provided in this report.

Key Benefits

  • This report provides an extensive analysis of the current and emerging market trends and dynamics in the global big data analytics in BFSI market¬†to identify the prevailing market opportunities.
  • This study evaluates the competitive landscape and value chain to understand the competitive environment across the geographies.
  • Comprehensive analysis of factors that drive and restrict the growth of the global artificial intelligence in BFSI market is provided.
  • Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework

Big Data Analytics in BFSI Market Report Highlights

Aspects Details
Big Data Analytics in BFSI Market By Type
By Type
  • Descriptive Analytics
  • Diagnostic Analytics
  • Prescriptive Analytics
  • Predictive Analytics
Big Data Analytics in BFSI Market By Deployment Mode
By Deployment Mode
  • On-premise
  • Cloud
Big Data Analytics in BFSI Market By Application
By Application
  • Risk Management
  • Operations Optimization
  • Customer Relationship Management
  • Others
Big Data Analytics in BFSI Market By End User
By End User
  • Insurance Companies
  • Banks
  • Capital Markets
Big Data Analytics in BFSI Market By Geography
By Geography
  • NORTH AMERICA
    • U.S
    • Canada
  • EUROPE
    • UK
    • Germany
    • France
    • Rest of Europe
  • ASIA-PACIFIC
    • India
    • China
    • Japan
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa
Key Market Players
Key Market Players

IBM CORPORATION, ALPINE DATA, NIMBIX INC., AEROSPIKE INC., BIGPANDA INC., BAE SYSTEMS, ACCENTURE, DATAMEER, INC., CLUSTRIX, GAINSIGHT

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Big Data Analytics in BFSI Market

Global Opportunity Analysis and Industry Forecast, 2023-2032