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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

  • BIZ4302310
  • 200 Pages
  • April 2021
  • Automotive and Transportation
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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

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018

Base year – 2019

Forecast period – 2020 to 2027

Target Audience of the Global Digital Transformation in BFSI Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors

Chapter 1. Executive Summary

1.1. Market Snapshot

1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)

1.2.1. Digital Transformation in BFSI Market, by Region, 2018-2027 (USD Billion)

1.2.2. Digital Transformation in BFSI Market, by Component, 2018-2027 (USD Billion)

1.2.3. Digital Transformation in BFSI Market, by Technology, 2018-2027 (USD Billion)

1.2.4. Digital Transformation in BFSI Market, by Deployment Model, 2018-2027 (USD Billion)

1.2.5. Digital Transformation in BFSI Market, by Enterprise Size, 2018-2027 (USD Billion)

1.3. Key Trends

1.4. Estimation Methodology

1.5. Research Assumption

Chapter 2. Global Digital Transformation in BFSI Market Definition and Scope

2.1. Objective of the Study

2.2. Market Definition & Scope

2.2.1. Scope of the Study

2.2.2. Industry Evolution

2.3. Years Considered for the Study

2.4. Currency Conversion Rates

Chapter 3. Global Digital Transformation in BFSI Market Dynamics

3.1. Digital Transformation in BFSI Market Impact Analysis (2018-2027)

3.1.1. Market Drivers

3.1.2. Market Challenges

3.1.3. Market Opportunities

Chapter 4. Global Digital Transformation in BFSI Market Industry Analysis

4.1. Porter’s 5 Force Model

4.1.1. Bargaining Power of Suppliers

4.1.2. Bargaining Power of Buyers

4.1.3. Threat of New Entrants

4.1.4. Threat of Substitutes

4.1.5. Competitive Rivalry

4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027)

4.2. PEST Analysis

4.2.1. Political

4.2.2. Economical

4.2.3. Social

4.2.4. Technological

4.3. Investment Adoption Model

4.4. Analyst Recommendation & Conclusion

Chapter 5. Global Digital Transformation in BFSI Market, by Component

5.1. Market Snapshot

5.2. Global Digital Transformation in BFSI Market by Component, Performance - Potential Analysis

5.3. Global Digital Transformation in BFSI Market Estimates & Forecasts by Component 2017-2027 (USD Billion)

5.4. Digital Transformation in BFSI Market, Sub Segment Analysis

5.4.1. Solution

5.4.2. Services

Chapter 6. Global Digital Transformation in BFSI Market, by Technology

6.1. Market Snapshot

6.2. Global Digital Transformation in BFSI Market by Technology, Performance - Potential Analysis

6.3. Global Digital Transformation in BFSI Market Estimates & Forecasts by Technology 2017-2027 (USD Billion)

6.4. Digital Transformation in BFSI Market, Sub Segment Analysis

6.4.1. Artificial Intelligence

6.4.2. Cloud Computing

6.4.3. Blockchain

6.4.4. Big Data and Business Analytics

6.4.5. Cyber Security

6.4.6. Other

Chapter 7. Global Digital Transformation in BFSI Market, by Deployment Model

7.1. Market Snapshot

7.2. Global Digital Transformation in BFSI Market by Deployment Model, Performance - Potential Analysis

7.3. Global Digital Transformation in BFSI Market Estimates & Forecasts by Deployment Model 2017-2027 (USD Billion)

7.4. Digital Transformation in BFSI Market, Sub Segment Analysis

7.4.1. On-premises

7.4.2. Cloud

Chapter 8. Global Digital Transformation in BFSI Market, by Enterprise Size

8.1. Market Snapshot

8.2. Global Digital Transformation in BFSI Market by Enterprise Size - Potential Analysis

8.3. Global Digital Transformation in BFSI Market Estimates & Forecasts by Enterprise Size 2017-2027 (USD Billion)

8.4. Digital Transformation in BFSI Market, Sub Segment Analysis

8.4.1. Large Enterprises

8.4.2. Small & Medium Enterprises

Chapter 9. Global Digital Transformation in BFSI Market, Regional Analysis

9.1. Digital Transformation in BFSI Market, Regional Market Snapshot

9.2. North America Digital Transformation in BFSI Market

9.2.1. U.S. Digital Transformation in BFSI Market

9.2.1.1. Component breakdown estimates & forecasts, 2017-2027

9.2.1.2. Technology breakdown estimates & forecasts, 2017-2027

9.2.1.3. Deployment Model breakdown estimates & forecasts, 2017-2027

9.2.1.4. Enterprise Size breakdown estimates & forecasts, 2017-2027

9.2.2. Canada Digital Transformation in BFSI Market

9.3. Europe Digital Transformation in BFSI Market Snapshot

9.3.1. U.K. Digital Transformation in BFSI Market

9.3.2. Germany Digital Transformation in BFSI Market

9.3.3. France Digital Transformation in BFSI Market

9.3.4. Spain Digital Transformation in BFSI Market

9.3.5. Italy Digital Transformation in BFSI Market

9.3.6. Rest of Europe Digital Transformation in BFSI Market

9.4. Asia-Pacific Digital Transformation in BFSI Market Snapshot

9.4.1. China Digital Transformation in BFSI Market

9.4.2. India Digital Transformation in BFSI Market

9.4.3. Japan Digital Transformation in BFSI Market

9.4.4. Australia Digital Transformation in BFSI Market

9.4.5. South Korea Digital Transformation in BFSI Market

9.4.6. Rest of Asia Pacific Digital Transformation in BFSI Market

9.5. Latin America Digital Transformation in BFSI Market Snapshot

9.5.1. Brazil Digital Transformation in BFSI Market

9.5.2. Mexico Digital Transformation in BFSI Market

9.6. Rest of The World Digital Transformation in BFSI Market

Chapter 10. Competitive Intelligence

10.1. Top Market Strategies

10.2. Company Profiles

10.2.1. Accenture

10.2.1.1. Key Information

10.2.1.2. Overview

10.2.1.3. Financial (Subject to Data Availability)

10.2.1.4. Product Summary

10.2.1.5. Recent Developments

10.2.2. Alphasense Inc.

10.2.3. Cognizant

10.2.4. Fujitsu Corp.

10.2.5. Google LLC

10.2.6. HID Global Corp.

10.2.7. IBM Corp.

10.2.8. Microsoft Corp.

10.2.9. Oracle Corp.

10.2.10. SAP SE

Chapter 11. Research Process

11.1. Research Process

11.1.1. Data Mining

11.1.2. Analysis

11.1.3. Market Estimation

11.1.4. Validation

11.1.5. Publishing

11.2. Research Attributes

11.3. Research Assumption

List of Tables

TABLE 1. Global Digital Transformation in BFSI market, report scope

TABLE 2. Global Digital Transformation in BFSI market estimates & forecasts by region 2017-2027 (USD Billion)

TABLE 3. Global Digital Transformation in BFSI market estimates & forecasts by Component 2017-2027 (USD Billion)

TABLE 4. Global Digital Transformation in BFSI market estimates & forecasts by Technology 2017-2027 (USD Billion)

TABLE 5. Global Digital Transformation in BFSI market estimates & forecasts by Deployment Model 2017-2027 (USD Billion)

TABLE 6. Global Digital Transformation in BFSI market estimates & forecasts by Enterprise Size 2017-2027 (USD Billion)

TABLE 7. Global Digital Transformation in BFSI market by segment, estimates & forecasts, 2017-2027 (USD Billion)

TABLE 8. Global Digital Transformation in BFSI market by region, estimates & forecasts, 2017-2027 (USD Billion)

TABLE 9. Global Digital Transformation in BFSI market by segment, estimates & forecasts, 2017-2027 (USD Billion)

TABLE 10. Global Digital Transformation in BFSI market by region, estimates & forecasts, 2017-2027 (USD Billion)

TABLE 11. Global Digital Transformation in BFSI market by segment, estimates & forecasts, 2017-2027 (USD Billion)

TABLE 12. Global Digital Transformation in BFSI market by region, estimates & forecasts, 2017-2027 (USD Billion)

TABLE 13. Global Digital Transformation in BFSI market by segment, estimates & forecasts, 2017-2027 (USD Billion)

TABLE 14. Global Digital Transformation in BFSI market by region, estimates & forecasts, 2017-2027 (USD Billion)

TABLE 15. Global Digital Transformation in BFSI market by segment, estimates & forecasts, 2017-2027 (USD Billion)

TABLE 16. Global Digital Transformation in BFSI market by region, estimates & forecasts, 2017-2027 (USD Billion)

TABLE 17. Global Digital Transformation in BFSI market by segment, estimates & forecasts, 2017-2027 (USD Billion)

TABLE 18. Global Digital Transformation in BFSI market by region, estimates & forecasts, 2017-2027 (USD Billion)

TABLE 19. Global Digital Transformation in BFSI market by segment, estimates & forecasts, 2017-2027 (USD Billion)

TABLE 20. Global Digital Transformation in BFSI market by region, estimates & forecasts, 2017-2027 (USD Billion)

TABLE 21. Global Digital Transformation in BFSI market by segment, estimates & forecasts, 2017-2027 (USD Billion)

TABLE 22. Global Digital Transformation in BFSI market by region, estimates & forecasts, 2017-2027 (USD Billion)

TABLE 23. U.S. Digital Transformation in BFSI market estimates & forecasts, 2017-2027 (USD Billion)

TABLE 24. U.S. Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 25. U.S. Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 26. Canada Digital Transformation in BFSI market estimates & forecasts, 2017-2027 (USD Billion)

TABLE 27. Canada Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 28. Canada Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 29. UK Digital Transformation in BFSI market estimates & forecasts, 2017-2027 (USD Billion)

TABLE 30. UK Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 31. UK Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 32. Germany Digital Transformation in BFSI market estimates & forecasts, 2017-2027 (USD Billion)

TABLE 33. Germany Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 34. Germany Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 35. France Digital Transformation in BFSI market estimates & forecasts, 2017-2027 (USD Billion)

TABLE 36. France Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 37. France Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 38. Spain Digital Transformation in BFSI market estimates & forecasts, 2017-2027 (USD Billion)

TABLE 39. Spain Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 40. Spain Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 41. Italy Digital Transformation in BFSI market estimates & forecasts, 2017-2027 (USD Billion)

TABLE 42. Italy Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 43. Italy Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 44. ROE Digital Transformation in BFSI market estimates & forecasts, 2017-2027 (USD Billion)

TABLE 45. ROE Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 46. ROE Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 47. China Digital Transformation in BFSI market estimates & forecasts, 2017-2027 (USD Billion)

TABLE 48. China Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 49. China Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 50. India Digital Transformation in BFSI market estimates & forecasts, 2017-2027 (USD Billion)

TABLE 51. India Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 52. India Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 53. Japan Digital Transformation in BFSI market estimates & forecasts, 2017-2027 (USD Billion)

TABLE 54. Japan Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 55. Japan Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 56. Australia Digital Transformation in BFSI market estimates & forecasts, 2017-2027 (USD Billion)

TABLE 57. Australia Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 58. Australia Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 59. South Korea Digital Transformation in BFSI market estimates & forecasts, 2017-2027 (USD Billion)

TABLE 60. South Korea Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 61. South Korea Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 62. ROPAC Digital Transformation in BFSI market estimates & forecasts, 2017-2027 (USD Billion)

TABLE 63. ROPAC Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 64. ROPAC Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 65. Brazil Digital Transformation in BFSI market estimates & forecasts, 2017-2027 (USD Billion)

TABLE 66. Brazil Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 67. Brazil Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 68. Mexico Digital Transformation in BFSI market estimates & forecasts, 2017-2027 (USD Billion)

TABLE 69. Mexico Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 70. Mexico Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 71. ROLA Digital Transformation in BFSI market estimates & forecasts, 2017-2027 (USD Billion)

TABLE 72. ROLA Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 73. ROLA Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 74. ROW Digital Transformation in BFSI market estimates & forecasts, 2017-2027 (USD Billion)

TABLE 75. ROW Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 76. ROW Digital Transformation in BFSI market estimates & forecasts by segment 2017-2027 (USD Billion)

TABLE 77. List of secondary sources, used in the study of global Digital Transformation in BFSI market

TABLE 78. List of primary sources, used in the study of global Digital Transformation in BFSI market

TABLE 79. Years considered for the study

TABLE 80. Exchange rates considered

 
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