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Synopsis
Banking, Financial services and Insurance (BFSI) is an industry term for companies that provide a range of such financial products/services such as universal banks. BFSI comprises commercial banks, insurance companies, non-banking financial companies, cooperatives, pensions funds, mutual funds and other smaller financial entities.
The global BFSI IT market was valued at US$ million in 2023 and is anticipated to reach US$ million by 2030, witnessing a CAGR of % during the forecast period 2024-2030.
The BFSI vertical is one of the major targets for cyber criminals, considering the sensitive information it holds. The vertical collects vital data including customers’ financial and other personal information and employee information. Therefore, the BFSI vertical is always on the radar of cyber security product and service vendors. With the advancements in cyber-attacks, the BFSI organizations face significant challenges to safeguard their databases from internal and external hackers. This is a major factor that contributes to the high adoption of cyber-security solutions in the BFSI vertical. This vertical is always improving its processing and transaction technologies. Also, the vertical continues to introduce new and improved financial products and services to improve its business operations. Cybercriminals are attracted toward this vertical to grab sensitive customer information. The stringent government regulations are another major factor that drives the adoption of cyber security solutions in the BFSI vertical.
This report aims to provide a comprehensive presentation of the global market for BFSI IT, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding BFSI IT.
Report Scope
The BFSI IT market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global BFSI IT market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the BFSI IT companies, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
IBM
Microsoft
Accenture
Micro Focus
SAP
Cognizant
Segment by Type
ECM
CRM
HCM
ERP
Artificial Intelligence
Business Intelligence
Unified Communications
Segment by Application
Commercial Banks
Insurance Companies
Non-Banking Financial Companies
Cooperatives
Others
By Region
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of BFSI IT companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.
Banking, Financial services and Insurance (BFSI) is an industry term for companies that provide a range of such financial products/services such as universal banks. BFSI comprises commercial banks, insurance companies, non-banking financial companies, cooperatives, pensions funds, mutual funds and other smaller financial entities.
The global BFSI IT market was valued at US$ million in 2023 and is anticipated to reach US$ million by 2030, witnessing a CAGR of % during the forecast period 2024-2030.
The BFSI vertical is one of the major targets for cyber criminals, considering the sensitive information it holds. The vertical collects vital data including customers’ financial and other personal information and employee information. Therefore, the BFSI vertical is always on the radar of cyber security product and service vendors. With the advancements in cyber-attacks, the BFSI organizations face significant challenges to safeguard their databases from internal and external hackers. This is a major factor that contributes to the high adoption of cyber-security solutions in the BFSI vertical. This vertical is always improving its processing and transaction technologies. Also, the vertical continues to introduce new and improved financial products and services to improve its business operations. Cybercriminals are attracted toward this vertical to grab sensitive customer information. The stringent government regulations are another major factor that drives the adoption of cyber security solutions in the BFSI vertical.
This report aims to provide a comprehensive presentation of the global market for BFSI IT, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding BFSI IT.
Report Scope
The BFSI IT market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global BFSI IT market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the BFSI IT companies, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
IBM
Microsoft
Accenture
Micro Focus
SAP
Cognizant
Segment by Type
ECM
CRM
HCM
ERP
Artificial Intelligence
Business Intelligence
Unified Communications
Segment by Application
Commercial Banks
Insurance Companies
Non-Banking Financial Companies
Cooperatives
Others
By Region
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of BFSI IT companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.
Index1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global BFSI IT Market Size Growth Rate by Type: 2019 VS 2023 VS 2030
1.2.2 ECM
1.2.3 CRM
1.2.4 HCM
1.2.5 ERP
1.2.6 Artificial Intelligence
1.2.7 Business Intelligence
1.2.8 Unified Communications
1.3 Market by Application
1.3.1 Global BFSI IT Market Growth by Application: 2019 VS 2023 VS 2030
1.3.2 Commercial Banks
1.3.3 Insurance Companies
1.3.4 Non-Banking Financial Companies
1.3.5 Cooperatives
1.3.6 Others
1.4 Study Objectives
1.5 Years Considered
1.6 Years Considered
2 Global Growth Trends
2.1 Global BFSI IT Market Perspective (2019-2030)
2.2 BFSI IT Growth Trends by Region
2.2.1 Global BFSI IT Market Size by Region: 2019 VS 2023 VS 2030
2.2.2 BFSI IT Historic Market Size by Region (2019-2024)
2.2.3 BFSI IT Forecasted Market Size by Region (2025-2030)
2.3 BFSI IT Market Dynamics
2.3.1 BFSI IT Industry Trends
2.3.2 BFSI IT Market Drivers
2.3.3 BFSI IT Market Challenges
2.3.4 BFSI IT Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top BFSI IT Players by Revenue
3.1.1 Global Top BFSI IT Players by Revenue (2019-2024)
3.1.2 Global BFSI IT Revenue Market Share by Players (2019-2024)
3.2 Global BFSI IT Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.3 Players Covered: Ranking by BFSI IT Revenue
3.4 Global BFSI IT Market Concentration Ratio
3.4.1 Global BFSI IT Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by BFSI IT Revenue in 2023
3.5 BFSI IT Key Players Head office and Area Served
3.6 Key Players BFSI IT Product Solution and Service
3.7 Date of Enter into BFSI IT Market
3.8 Mergers & Acquisitions, Expansion Plans
4 BFSI IT Breakdown Data by Type
4.1 Global BFSI IT Historic Market Size by Type (2019-2024)
4.2 Global BFSI IT Forecasted Market Size by Type (2025-2030)
5 BFSI IT Breakdown Data by Application
5.1 Global BFSI IT Historic Market Size by Application (2019-2024)
5.2 Global BFSI IT Forecasted Market Size by Application (2025-2030)
6 North America
6.1 North America BFSI IT Market Size (2019-2030)
6.2 North America BFSI IT Market Growth Rate by Country: 2019 VS 2023 VS 2030
6.3 North America BFSI IT Market Size by Country (2019-2024)
6.4 North America BFSI IT Market Size by Country (2025-2030)
6.5 United States
6.6 Canada
7 Europe
7.1 Europe BFSI IT Market Size (2019-2030)
7.2 Europe BFSI IT Market Growth Rate by Country: 2019 VS 2023 VS 2030
7.3 Europe BFSI IT Market Size by Country (2019-2024)
7.4 Europe BFSI IT Market Size by Country (2025-2030)
7.5 Germany
7.6 France
7.7 U.K.
7.8 Italy
7.9 Russia
7.10 Nordic Countries
8 Asia-Pacific
8.1 Asia-Pacific BFSI IT Market Size (2019-2030)
8.2 Asia-Pacific BFSI IT Market Growth Rate by Region: 2019 VS 2023 VS 2030
8.3 Asia-Pacific BFSI IT Market Size by Region (2019-2024)
8.4 Asia-Pacific BFSI IT Market Size by Region (2025-2030)
8.5 China
8.6 Japan
8.7 South Korea
8.8 Southeast Asia
8.9 India
8.10 Australia
9 Latin America
9.1 Latin America BFSI IT Market Size (2019-2030)
9.2 Latin America BFSI IT Market Growth Rate by Country: 2019 VS 2023 VS 2030
9.3 Latin America BFSI IT Market Size by Country (2019-2024)
9.4 Latin America BFSI IT Market Size by Country (2025-2030)
9.5 Mexico
9.6 Brazil
10 Middle East & Africa
10.1 Middle East & Africa BFSI IT Market Size (2019-2030)
10.2 Middle East & Africa BFSI IT Market Growth Rate by Country: 2019 VS 2023 VS 2030
10.3 Middle East & Africa BFSI IT Market Size by Country (2019-2024)
10.4 Middle East & Africa BFSI IT Market Size by Country (2025-2030)
10.5 Turkey
10.6 Saudi Arabia
10.7 UAE
11 Key Players Profiles
11.1 IBM
11.1.1 IBM Company Detail
11.1.2 IBM Business Overview
11.1.3 IBM BFSI IT Introduction
11.1.4 IBM Revenue in BFSI IT Business (2019-2024)
11.1.5 IBM Recent Development
11.2 Microsoft
11.2.1 Microsoft Company Detail
11.2.2 Microsoft Business Overview
11.2.3 Microsoft BFSI IT Introduction
11.2.4 Microsoft Revenue in BFSI IT Business (2019-2024)
11.2.5 Microsoft Recent Development
11.3 Accenture
11.3.1 Accenture Company Detail
11.3.2 Accenture Business Overview
11.3.3 Accenture BFSI IT Introduction
11.3.4 Accenture Revenue in BFSI IT Business (2019-2024)
11.3.5 Accenture Recent Development
11.4 Micro Focus
11.4.1 Micro Focus Company Detail
11.4.2 Micro Focus Business Overview
11.4.3 Micro Focus BFSI IT Introduction
11.4.4 Micro Focus Revenue in BFSI IT Business (2019-2024)
11.4.5 Micro Focus Recent Development
11.5 SAP
11.5.1 SAP Company Detail
11.5.2 SAP Business Overview
11.5.3 SAP BFSI IT Introduction
11.5.4 SAP Revenue in BFSI IT Business (2019-2024)
11.5.5 SAP Recent Development
11.6 Cognizant
11.6.1 Cognizant Company Detail
11.6.2 Cognizant Business Overview
11.6.3 Cognizant BFSI IT Introduction
11.6.4 Cognizant Revenue in BFSI IT Business (2019-2024)
11.6.5 Cognizant Recent Development
12 Analyst's Viewpoints/Conclusions
13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.2 Data Source
13.2 Disclaimer
13.3 Author Details
Published By : QY Research
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