Digital Transformation in BFSI Market to See Promising Growth Ahead| Accenture, Alphasense Inc., Cognizant, Fujitsu Corp.

Global Digital Transformation in BFSI Market Size study, by Component (Solution, Service), by Technology (Artificial Intelligence, Cloud Computing, Blockchain, Big Data and Business Analytics, Cyber Security, Others), by Deployment Model (On-premise and Cloud), by Enterprise Size (Large Enterprises, Small and Medium Enterprises) and Regional Forecasts 2020-2027, The ‘ Digital Transformation in BFSI market’ research report added by Report Ocean, is an in-depth analysis of the latest developments, market size, status, upcoming technologies, industry drivers, challenges, regulatory policies, with key company profiles and strategies of players. The research study provides market overview; Digital Transformation in BFSI derived key statistics, based on the market status of the manufacturers and is a valuable source of guidance and direction for companies and individuals interested in Digital Transformation in BFSI market size forecast, Get report to understand the structure of the complete fine points (Including Full TOC, List of Tables & Figures, Chart).

A combination of factors, including COVID-19 containment situation, end-use market recovery & Recovery Timeline of 2020/ 2021

covid-19 scenario Market Behavior End Industry Behavior Expected Industry Recovery Timeline Expected Key Dynamic Business Impact Horizon
Fast recovery – Opening of economy by Q2 2020 xx xx xx xx xx
Gradual recovery – Opening of economy by Q3 2020 xx xx xx xx xx
Partial recovery – Partial opening of economy by Q3 2020 xx xx xx xx xx
Slow recovery – Opening of economy extended till Q4 2020 / Q1 2021 xx xx xx xx xx

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A systematic step framework for How to Tackle The Situation… “MITIGATE” | “SUSTAIN” | “GROW”: Business Strategy Recovery, Scenario and Planning

 

Key Segments Studied in the Global Digital Transformation in BFSI Market

Global Digital Transformation in BFSI Market is valued at approximately USD 72 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 18.4% over the forecast period 2020-2027. Digital transformation in banking, financial services, and insurance (BFSI) is a set of methodologies, processes, and tools, which is increasingly used by modern companies to enhance their operational activities and to increase sales. The key objective for incorporating digital transformation technologies in BFSI is to digitize and automate processes in the banking & fintech organizations and streamline the crucial process of the organization. Although, in the last decade, the advancements in technology have a decisive effect on the BFSI industry, with artificial intelligence (AI) is being at the forefront of technological advancements and innovations. While the extent of AI has gained a wide acceptance in BFSI, as its incorporation is even at an emerging stage and requires finetuning around consumer sensitization and security framework. Therefore, the demand for digital transformation in BFSI is significantly rising all over the world. Furthermore, the increase in adoption of digital technology in various public and private banks and financial institutions, along with the rising need of digital services to improve customer experience are the few factors responsible for the high CAGR of the market during the forecast period. Many banking and fintech companies are actively employing digital transformation technology to attain truly phenomenal results in operational activities. For instance, ZestFinance, a maker of the Zest Automated Machine Learning (ZAML) platform, using an AI-powered underwriting solution that helps companies to assess borrowers with little to no credit information or history. Also, according to ZestFinance, auto lenders using machine-learning underwriting cut losses by 23% annually, more accurately predicted risk and reduced losses by more than 25%. Therefore, providers of digital transformation in BFSI are experiencing huge upturn, thereby, the market is significantly growing worldwide. However, the high implementation and maintenance cost of digital technology in BFSI are the few factors impeding the market growth over the forecast period of 2020-2027.

 

The regional analysis of the global Digital Transformation in BFSI market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing funding on digitalization of BFSI sector, along with the wide presence of market players incorporating digital solutions and platforms for automating their operations in the region. Whereas, Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027.

 

Major market player included in this report are:

  • Accenture
  • Alphasense Inc.
  • Cognizant
  • Fujitsu Corp.
  • Google LLC
  • HID Global Corp.
  • IBM Corp.
  • Microsoft Corp.
  • Oracle Corp.
  • SAP SE

 

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

 

By Component:

  • Solution
  • Service

 

By Technology:

  • Artificial Intelligence
  • Cloud Computing
  • Blockchain
  • Big Data and Business Analytics
  • Cyber Security
  • Others

 

By Deployment Model:

  • On-premises
  • Cloud

 

By Enterprise Size:

  • Large Enterprises
  • Small & Medium Enterprises

 

Geographical Breakdown: Regional level analysis of the market, currently covering North America, Europe, China & Japan

In-Depth Qualitative Analyses Include Identification And Investigation Of The Following Aspects: Market Structure, Growth Drivers, Restraints and Challenges, Emerging Product Trends & Market Opportunities, Porter’s Fiver Forces. The report also inspects the financial standing of the leading companies, which includes gross profit, revenue generation, sales volume, sales revenue, manufacturing cost, individual growth rate, and other financial ratios. The report basically gives information about the Market trends, growth factors, limitations, opportunities, challenges, future forecasts, and details about all the key market players.

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Key questions answered: Study Explore COVID 19 Outbreak Impact Analysis

 

  • Market size and growth rate during forecast period.
  • Key factors driving the Market.
  • Key market trends cracking up the growth of the Market.
  • Challenges to market growth.
  • Key vendors of Market.
  • Detailed SWOT analysis.
  • Opportunities and threats faces by the existing vendors in Global Market.
  • Trending factors influencing the market in the geographical regions.
  • Strategic initiatives focusing the leading vendors.
  • PEST analysis of the market in the five major regions.

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Market analysis requires careful attention to the following:

  • Market Analysis: To make this section robust, we help you identify industry size, growth rates, drivers, challenges, major players, and market forecasts and emerging trends.
  • Competitive Analysis: Understanding your competition is critical to your success. This section includes an analysis of your key competitors, their products / services, their differentiators, and market shares.
  • Target Market and Customers: Identifying and prioritizing specific target markets are another key part of your industry analysis where research is crucial. You need to think about demographics and buying behaviors of your customers? How can you best reach them? What kinds of challenges do they have? How do they like to be marketed?

Competitiveness Industry concentration – This is a measure of the number of firms in an industry and the size of the predominant firms in the industry. It indicates the nature of the competition. Identify the most important players in the industry. What percent of the market is controlled by the largest companies (for example, the four largest firms)? What is the market share of each major firm? What is the number of firms over a certain size? Is there a dominant industry leader? Who is it?

Key Points Covered in Digital Transformation in BFSI Market Report: Study Explore COVID 19 Outbreak Impact Analysis

Global Digital Transformation in BFSI Market Research Report
Section 1: Global Digital Transformation in BFSI  Industry Overview
Section 2: Global Economic Impact on Digital Transformation in BFSI  Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Digital Transformation in BFSI  Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Digital Transformation in BFSI  Market Forecast

 

Continued….

……..and view more in complete table of Contents

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