China Augmented Analytics in BFSI Market Size, Share, Competitive Landscape and Trend Analysis Report by Component, by Deployment Model, by Enterprise Size, by Application : Opportunity Analysis and Industry Forecast, 2023-2032

China augmented analytics in BFSI (Banking, Financial Services, And Insurance) market was valued at $ 2.61 billion in 2019 and is expected to reach $ 14.15 billion by 2027, registering a CAGR of 25.6% during the forecast period. The China augmented analytics in BFSI market is segmented into component, deployment mode, enterprise size, application. Augmented analytics are playing a crucial role in developing business intelligence and intelligence analytics in the China BFSI sector.

 

The key factors driving the growth of the China augmented analytics market in BFSI are the increase demand for the adoption of AI-powered solutions & services, high penetration of cloud services, and rise in demand for predictive analytics. Furthermore, the surge in demand for advanced analytics technology such as predictive analytics and real-time analytics to serve better customer experience augments the market growth. In addition, the increase in demand for the adoption of data-driven approaches for deployment of advanced technologies such as augmented analytics is fueling the growth of the market. 

Moreover, the government initiatives to support the implementation of open banking regulations across the country. In addition, the government is focusing on providing an improved platform for the development and deployment of data and analytics-driven solutions, which is expected to propel the growth of the China augmented analytics market in BFSI. 

However, Rise in concerns regarding privacy and security of data is expected to act as a major challenge for the growth of the China Augmented analytics market in BFSI market. 

On the contrary, the China augmented analytics market in BFSI is expected to provide several opportunities for the new players in the market. The upsurge in the adoption of cloud-based services in the China market provides lucrative opportunities for the players operating in the market. The use of cloud-based services benefits firms by offering effective scalability, cost-effectiveness, and flexibility, as they are working in a highly competitive landscape. Furthermore, increase in focus on customer experience in the BFSI sector is anticipated to offer remunerative opportunities for the market growth. In addition, the implementation of open banking regulations across the country is providing abundant growth opportunities for the growth of the China augmented analytics market in BFSI.

The Porter’s five forces analysis is a model which analyzes the competitive scenario of the industry and role of each stakeholder. The five forces include the bargaining power of buyers, the bargaining power of suppliers, the threat of new entrants, the threat of substitutes and the competition among competitive rivalry. The bargaining power of the buyers in the market is comparatively low as the buyers for the services are generally the large-sized enterprises. The bargaining power of the suppliers is high as the customers depend on the vendors for the high-end products. The threat of new entrants is low due to the presence of existing players and the high investment required to enter the market. The threat of substitutes is low as the buyers usually prefer high-end customized services for analytics. The level of competition in the market is medium as the players compete in terms of prices, product features, and services. 

The China augmented analytics market in BFSI is expected to witness substantial growth during the forecast period. Rise in trend in investment in big data technologies, rise in the adoption of analytics in the banking industry, and the surge in demand for customer real-time analytics are some of the key trends observed in the market. Furthermore, there is a shift observed towards the usage of digital platforms in developed countries with the integration of analytics tools for communications, analysis, and customer segmentation. In addition, the increase in awareness of advanced analytics, such as AI and machine learning, in the China market is providing huge opportunities for the market players in the future. 
 
The China augmented analytics in BFSI market is segmented into component, deployment mode, enterprise size, and application. On the basis of component, the market is divided into solution and service. By deployment mode, the market is bifurcated into on-premise and cloud. Depending on enterprise size, the market is classified into large enterprises and small and medium-sized enterprises. Based on application, the market is segregated into risk and compliance management, customer analytics, fraud detection, portfolio management, and others. 

The key players in the Chinese market are focusing on offering innovative analytics services and solutions. For instance, Ant Group has recently launched its quantum-computing-based platform, Hangzhou, that covers various areas in the finance and banking sectors. 

The key players in the China augmented analytics in BFSI market are Alibaba Group Holding Limited, Tencent Holdings Limited, Baidu, Inc., Huawei Technologies Co., Ltd., Ping An Insurance (Group) Company of China, Ltd., JD.com, Inc., Ant Group Co., Ltd., China Construction Bank Corporation, Industrial and Commercial Bank of China Limited (ICBC), China Merchants Bank Co., Ltd.  

Key Benefits For Stakeholders

• Enable informed decision-making process and offer market analysis based on current market situation and estimated future trends.
• Analyze the key strategies adopted by major market players in China augmented analytics in BFSI market.
• Assess and rank the top factors that are expected to affect the growth of china augmented analytics in BFSI market.
• Top Player positioning provides a clear understanding of the present position of market players.
• Detailed analysis of the china augmented analytics in BFSI market segmentation assists to determine the prevailing market opportunities.
• Identify key investment pockets for various offerings in the market.

  China Augmented Analytics in BFSI Market Report Highlights