Home > > > > Report Detail

IT BFSI Market by Component (Technology Type (ECM, CRM, HCM, ERP, Artificial Intelligence, Business Intelligence, Unified Communications), and Services), Organization Size, Deployment Type (Cloud and On-Premises), and Region - Global Forecast to 2022

Publisher Name :
Date: 28-Nov-2017
No. of pages: 118
Inquire Before Buying

“Increasing need to enhance customer experience, exploring digital channels to roll out new services at faster pace, and launch of advanced technologies, such as IoT platforms and analytic tools for banking operations, are driving the IT BFSI market”

The IT BFSI market size is expected to grow from USD 82.06 billion in 2017 to USD 149.74 billion by 2022, at a CAGR of 12.8% during the forecast period. This market is majorly driven by an increasing need to enhance customer experience in order to gain an edge in the highly competitive market and the launch of advanced technologies that are specifically customized to meet the needs of BFSI operations. On the other hand, security concerns due to advanced cyber security-attacks are expected to hinder the growth of the market during the forecast period.

“Artificial intelligence (AI) technology type is expected to grow at the highest CAGR during the forecast period”

Artificial intelligence (AI) technology is expected to penetrate further into the BFSI sector in coming years, with an objective to enhance customer experience and aid their operational processes. Automating operational processes by implementing the AI technology is likely to reduce the operational costs and speed up the banking operations. Furthermore, AI is expected to streamline and ease the cumbersome processes of banking operations, which helps BFSI organizations to deliver better service to their customers. The BFSI vertical is expected to invest heavily in AI technologies during the forecast period, in order to optimize their operations and improve customer experience.

“Large enterprises segment is expected to hold a higher market share during the forecast period”

The large enterprises segment is expected to hold a higher market share during the forecast period. Large enterprises have been investing heavily in advanced IT technologies and services to upgrade their IT infrastructure to match up with the latest market trends and dynamic demands. Large banks allocate budgets for upgrading their IT infrastructure, as IT solutions play a significant role in streamlining their entire business operations at multiple locations.

“Asia Pacific (APAC) is projected to have high growth potential during the forecast period.”

North America is estimated to hold the largest market share in 2017,while APAC is expected to be the fastest-growing region in terms of CAGR during the forecast period. APAC provides growth opportunities for IT vendors targeting the BFSI vertical during the forecast period, considering the increasing commercial investments in the emerging economies in the region. The BFSI organizations have been keen on exploring untapped opportunities in the APAC region, thus creating opportunities for IT vendors IT BFSI solutions and services.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key people. The break-up of profiles of primary participants is given below:


  • By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%

  • By Designation: C-level – 35%, D-level – 25%, and Others – 40%

  • By Region: North America – 45%, Europe – 20%, APAC – 30%, and RoW – 5%


Major vendors that offer various BFSI IT solutions and services include IBM (US), Microsoft (US),Accenture (Ireland), Micro Focus (UK), CA Technologies (US), Adobe Systems (US), SAP (Germany), Salesforce(US), Oracle (US), and Cognizant(US).

Research Coverage

The global IT BFSI market is segmented by component, organization size, deployment type, and region. The report will help market leaders/new entrants in this market in the following ways:

The report segments the IT BFSI market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments. The market numbers are further split across different verticals and regions.

Reasons to Buy the Report


  • From an insight perspective, this research report focuses on various levels of analysis–market share analysis of the top players and company profiles, which together comprise and discuss basic views on the competitive landscape; emerging and high-growth segments of the IT BFSI market; and high-growth regions and their respective drivers, restraints, challenges, and opportunities.

  • The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, will help firms in garnering a greater market share in the global IT BFSI market.

IT BFSI Market by Component (Technology Type (ECM, CRM, HCM, ERP, Artificial Intelligence, Business Intelligence, Unified Communications), and Services), Organization Size, Deployment Type (Cloud and On-Premises), and Region - Global Forecast to 2022

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered
1.5 Currency Considered
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Research Assumptions and Limitations
2.3.1 Research Assumptions
2.3.2 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the IT BFSI Market
4.2 IT BFSI Market, By Technology Type and Region
4.3 Market, By Deployment Type
4.4 Market, By Component
4.5 Market, By Region

5 Market Overview
5.1 Introduction
5.2 Innovation Spotlight
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Increasing Need to Enhance and Improve the Customer Experience
5.3.1.2 Customized IT Solutions for Specific Banking Needs
5.3.1.3 Exploration of Digital Channels to Roll Out New Services at A Faster Pace
5.3.2 Restraints
5.3.2.1 Security and Privacy Concerns, Due to Advanced Cybersecurity Attacks
5.3.3 Opportunities
5.3.3.1 Intelligent Applications Will Aid the Operations of the Banking Industry
5.3.4 Challenges
5.3.4.1 Constantly Changing Technology Landscape
5.4 Use Cases
5.4.1 IBM
5.4.2 Qlik
5.5 Major Technology Deals in the BFSI Sector

6 IT BFSI Market, By Component
6.1 Introduction
6.2 Technology Types
6.2.1 Customer Relationship Management
6.2.2 Human Capital Management
6.2.3 Enterprise Content Management
6.2.4 Cybersecurity
6.2.5 Enterprise Resource Planning
6.2.6 Unified Communication
6.2.7 Artificial Intelligence
6.2.8 Business Intelligence
6.3 Services
6.3.1 Managed Services
6.3.2 Professional Services
6.3.2.1 Consulting
6.3.2.2 Support and Maintenance
6.3.2.3 System Integration

7 IT BFSI Market, By Organization Size
7.1 Introduction
7.2 Small and Medium-Sized Enterprises
7.3 Large Enterprises

8 IT BFSI Market, By Deployment Type
8.1 Introduction
8.2 Cloud
8.3 On-Premises

9 IT BFSI Market, By Region
9.1 Introduction
9.2 North America
9.3 Europe
9.4 Asia Pacific
9.5 Middle East and Africa
9.6 Latin America

10 Competitive Landscape
10.1 Overview
10.2 Competitive Scenario
10.2.1 New Product Launches, 2015–2017
10.2.2 Expansions, 2015–2017
10.2.3 Mergers and Acquisitions, 2015–2017
10.2.4 Partnerships and Collaborations, 2015–2017

11 Company Profiles
(Business Overview, Services Offered, Recent Developments, MnM View, Key Strategies, SWOT Analysis)*
11.1 IBM
11.2 Micro Focus
11.3 Microsoft
11.4 CA Technologies
11.5 Accenture
11.6 Adobe Systems
11.7 SAP
11.8 Salesforce
11.9 Oracle
11.10 Cognizant

*Details on Business Overview, Services Offered, Recent Developments, MnM View, Key Strategies, SWOT Analysis Might Not Be Captured in Case of Unlisted Companies.

12 Appendix
12.1 Industry Experts
12.2 Discussion Guide
12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
12.4 Introducing RT: Real Time Market Intelligence
12.5 Available Customizations
12.6 Related Reports
12.7 Author Details

List of Tables

Table 1 United States Dollar Exchange Rate, 2014–2016
Table 2 IT BFSI Market Size and Growth Rate, 2015–2022 (USD Billion, Y-O-Y %)
Table 3 IT BFSI Market Size, By Component, 2015–2022 (USD Billion)
Table 4 Technology Types: IT BFSI Market Size, By Type, 2015–2022 (USD Billion)
Table 5 Customer Relationship Management Market Size, By Region, 2015–2022 (USD Billion)
Table 6 Human Capital Management Market Size, By Region, 2015–2022 (USD Billion)
Table 7 Enterprise Content Management Market Size, By Region, 2015–2022 (USD Billion)
Table 8 Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 9 Enterprise Resource Planning Market Size, By Region, 2015–2022 (USD Billion)
Table 10 Unified Communication Market Size, By Region, 2015–2022 (USD Billion)
Table 11 Artificial Intelligence Market Size, By Region, 2015–2022 (USD Billion)
Table 12 Business Intelligence Market Size, By Region, 2015–2022 (USD Billion)
Table 13 Services: Market Size, By Type, 2015–2022 (USD Billion)
Table 14 Managed Services Market Size, By Region, 2015–2022 (USD Billion)
Table 15 Professional Services Market Size, By Region, 2015–2022 (USD Billion)
Table 16 Consulting Market Size, By Region, 2015–2022 (USD Billion)
Table 17 Support and Maintenance Market Size, By Region, 2015–2022 (USD Billion)
Table 18 System Integration Market Size, By Region, 2015–2022 (USD Billion)
Table 19 IT BFSI Market Size, By Organization Size, 2015–2022 (USD Billion)
Table 20 Small and Medium-Sized Enterprises: Market Size, By Region, 2015–2022 (USD Billion)
Table 21 Large Enterprises: Market Size, By Region, 2015–2022 (USD Billion)
Table 22 Market Size, By Deployment Type, 2015–2022 (USD Billion)
Table 23 Cloud: Market Size, By Region, 2015–2022 (USD Billion)
Table 24 On-Premises: Market Size, By Region, 2015–2022 (USD Billion)
Table 25 IT BFSI Market Size, By Region, 2015–2022 (USD Billion)
Table 26 North America: Market Size, By Component, 2015–2022 (USD Billion)
Table 27 North America: Market Size, By Technology Type, 2015–2022 (USD Billion)
Table 28 North America: Market Size, By Service, 2015–2022 (USD Billion)
Table 29 North America: Market Size, By Professional Service, 2015–2022 (USD Billion)
Table 30 North America: Market Size, By Deployment Type, 2015–2022 (USD Billion)
Table 31 North America: Market Size, By Organization Size, 2015–2022 (USD Billion)
Table 32 Europe: IT BFSI Market Size, By Component, 2015–2022 (USD Billion)
Table 33 Europe: Market Size, By Technology Type, 2015–2022 (USD Billion)
Table 34 Europe: Market Size, By Service, 2015–2022 (USD Billion)
Table 35 Europe: Market Size, By Professional Service, 2015–2022 (USD Billion)
Table 36 Europe: Market Size, By Deployment Type, 2015–2022 (USD Billion)
Table 37 Europe: Market Size, By Organization Size, 2015–2022 (USD Billion)
Table 38 Asia Pacific: IT BFSI Market Size, By Component, 2015–2022 (USD Billion)
Table 39 Asia Pacific: Market Size, By Technology Type, 2015–2022 (USD Billion)
Table 40 Asia Pacific: Market Size, By Service, 2015–2022 (USD Billion)
Table 41 Asia Pacific: Market Size, By Professional Service, 2015–2022 (USD Billion)
Table 42 Asia Pacific: Market Size, By Deployment-Type, 2015–2022 (USD Billion)
Table 43 Asia Pacific: Market Size, By Organization Size, 2015–2022 (USD Billion)
Table 44 Middle East and Africa: IT BFSI Market Size, By Component, 2015–2022 (USD Billion)
Table 45 Middle East and Africa: Market Size, By Technology Type, 2015–2022 (USD Billion)
Table 46 Middle East and Africa: Market Size, By Service, 2015–2022 (USD Billion)
Table 47 Middle East and Africa: Market Size, By Professional Service, 2015–2022 (USD Billion)
Table 48 Middle East and Africa: Market Size, By Deployment Type, 2015–2022 (USD Billion)
Table 49 Middle East and Africa: Market Size, By Organization Size, 2015–2022 (USD Billion)
Table 50 Latin America: IT BFSI Market Size, By Component, 2015–2022 (USD Billion)
Table 51 Latin America: Market Size, By Technology Type, 2015–2022 (USD Billion)
Table 52 Latin America: Market Size, By Service, 2015–2022 (USD Billion)
Table 53 Latin America: Market Size, By Professional Service, 2015–2022 (USD Billion)
Table 54 Latin America: Market Size, By Deployment Type, 2015–2022 (USD Billion)
Table 55 Latin America: Market Size, By Organization Size, 2015–2022 (USD Billion)

List of Figures

Figure 1 IT BFSI Market: Market Segmentation
Figure 2 Regional Scope
Figure 3 Market: Research Design
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Market: Assumptions
Figure 8 Top 3 Categories With the Largest Market Shares in the IT BFSI Market in 2017
Figure 9 Market, By Region, 2017–2022
Figure 10 Increasing Pressure to Enhance Customer Experience is A Major Driver for the Growth of the IT BFSI Market
Figure 11 Cybersecurity and North America are Estimated to Have the Largest Market Shares in 2017
Figure 12 Cloud Deployment Type is Expected to Grow at A Higher CAGR in the Market During the Forecast Period
Figure 13 Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 14 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 15 IT BFSI Market: Drivers, Restraints, Opportunities, and Challenges
Figure 16 Services Component is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 17 Artificial Intelligence Technology Type is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 18 Managed Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 19 Small and Medium-Sized Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 20 Cloud Deployment Type is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 21 North America is Expected to Have the Largest Market Size During the Forecast Period
Figure 22 Regional Snapshot: Asia Pacific is Expected to Grow at the Highest CAGR in the IT BFSI Market During the Forecast Period
Figure 23 North America: Market Snapshot
Figure 24 Asia Pacific: Market Snapshot
Figure 25 Key Developments By Leading Players in the IT BFSI Market for 2014–2017
Figure 26 IBM: Company Snapshot
Figure 27 IBM: SWOT Analysis
Figure 28 Micro Focus: Company Snapshot
Figure 29 Micro Focus: SWOT Analysis
Figure 30 Microsoft: Company Snapshot
Figure 31 Microsoft: SWOT Analysis
Figure 32 CA Technologies: Company Snapshot
Figure 33 Accenture: Company Snapshot
Figure 34 Accenture: SWOT Analysis
Figure 35 Adobe Systems: Company Snapshot
Figure 36 SAP: Company Snapshot
Figure 37 SAP: SWOT Analysis
Figure 38 Salesforce: Company Snapshot
Figure 39 Oracle: Company Snapshot
Figure 40 Cognizant: Company Snapshot

  • Global Digital Rights Management Market Research Report 2024
    Published: 08-Jan-2024        Price: US 2900 Onwards        Pages: 104
    Digital rights management (DRM) is a systematic approach to copyright protection for digital media. The purpose of DRM is to prevent unauthorized redistribution of digital media and restrict The ways consumers can copy content they've purchased. The global Digital Rights Management market was valued at US$ 1526.9 million in 2023 and is anticipated to reach US$ 2633.3 million by 2030, witnessing a CAGR of 8.0% during The forecast period 2024-2030. United States market took up ......
  • Global Digital Rights Management Market Growth (Status and Outlook) 2024-2030
    Published: 04-Jan-2024        Price: US 3660 Onwards        Pages: 152
    According to our LPI (LP Information) latest study, the global Digital Rights Management market size was valued at US$ 1493.7 million in 2023. With growing demand in downstream market, the Digital Rights Management is forecast to a readjusted size of US$ 2609.9 million by 2030 with a CAGR of 8.3% during review period. The research report highlights the growth potential of the global Digital Rights Management market. Digital Rights Management are expected to show stable growth in the futu......
  • Global IT Services Market Growth (Status and Outlook) 2024-2030
    Published: 04-Jan-2024        Price: US 3660 Onwards        Pages: 148
    According to our LPI (LP Information) latest study, the global IT Services market size was valued at US$ 1016730 million in 2023. With growing demand in downstream market, the IT Services is forecast to a readjusted size of US$ 1360920 million by 2030 with a CAGR of 4.3% during review period. The research report highlights the growth potential of the global IT Services market. IT Services are expected to show stable growth in the future market. However, product differentiation, reducing ......
  • Global 3D Reconstruction Technology Market Growth (Status and Outlook) 2024-2030
    Published: 04-Jan-2024        Price: US 3660 Onwards        Pages: 155
    According to our LPI (LP Information) latest study, the global 3D Reconstruction Technology market size was valued at US$ 434.3 million in 2023. With growing demand in downstream market, the 3D Reconstruction Technology is forecast to a readjusted size of US$ 1122.2 million by 2030 with a CAGR of 14.5% during review period. The research report highlights the growth potential of the global 3D Reconstruction Technology market. 3D Reconstruction Technology are expected to show stable growth......
  • Global Photo Kiosk Market Growth 2024-2030
    Published: 04-Jan-2024        Price: US 3660 Onwards        Pages: 87
    According to our LPI (LP Information) latest study, the global Photo Kiosk market size was valued at US$ million in 2023. With growing demand in downstream market, the Photo Kiosk is forecast to a readjusted size of US$ million by 2030 with a CAGR of % during review period. The research report highlights the growth potential of the global Photo Kiosk market. Photo Kiosk are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply ch......
  • Global Digital Rights Management Industry Research Report, In-depth Analysis of Current Status and Outlook of Key Countries 2023-2028
    Published: 04-Jan-2024        Price: US 3380 Onwards        Pages: 110
    Market Overview of Global Digital Rights Management market: According to our latest research, the global Digital Rights Management market looks promising in the next 5 years. As of 2022, the global Digital Rights Management market was estimated at USD 5437.35 million, and it's anticipated to reach USD 14327.65 million in 2028, with a CAGR of 17.53% during the forecast years. Digital rights management (DRM) is a systematic approach to copyright protection for digital media. Th......
  • Global Parking Management System Market Growth 2024-2030
    Published: 04-Jan-2024        Price: US 3660 Onwards        Pages: 150
    According to our LPI (LP Information) latest study, the global Parking Management System market size was valued at US$ 552.7 million in 2023. With growing demand in downstream market, the Parking Management System is forecast to a readjusted size of US$ 946.5 million by 2030 with a CAGR of 8.0% during review period. The research report highlights the growth potential of the global Parking Management System market. Parking Management System are expected to show stable growth in the future......
  • Global Passenger Information System Market Growth (Status and Outlook) 2024-2030
    Published: 04-Jan-2024        Price: US 3660 Onwards        Pages: 133
    According to our LPI (LP Information) latest study, the global Passenger Information System market size was valued at US$ 1513.3 million in 2023. With growing demand in downstream market, the Passenger Information System is forecast to a readjusted size of US$ 3266.4 million by 2030 with a CAGR of 11.6% during review period. The research report highlights the growth potential of the global Passenger Information System market. Passenger Information System are expected to show stable growt......
  • Global E-passport Market Growth 2024-2030
    Published: 04-Jan-2024        Price: US 3660 Onwards        Pages: 135
    According to our LPI (LP Information) latest study, the global E-passport market size was valued at US$ 5869.7 million in 2023. With growing demand in downstream market, the E-passport is forecast to a readjusted size of US$ 15010 million by 2030 with a CAGR of 14.4% during review period. The research report highlights the growth potential of the global E-passport market. E-passport are expected to show stable growth in the future market. However, product differentiation, reducing costs,......
    • SERVICES
    Value for Money
    We believe in "optimum utilization of available budget and resources". While servicing our clients' (your) market research requirements, we keep the same approach in focus to help you get the best value for your $$s.
    Ever Growing Inventory
    Ranging from the smallest feasible / required data (datasheets, data facts, SWOT analysis, company profiles, etc) to full research reports that help you make decisions, our inventory is updated almost on a daily basis with the latest industry reports from domain experts that track more than 5000 niche sectors.
    One Stop Solution
    Need a custom research report on medical devices market? Require all available business intelligence on 3D printing industry? Exploring F&B sector of a particular country/region? RnRMarketResearch.com is your one-stop-solution to all market intelligence needs. We not only offer custom research and consulting services, we also "bundle" reports to meet your needs and help you fetch the data analysis you require for your business.
    Dedicated Client Engagement
    Not limited to only "finding" relevant reports for you, our client engagement team dedicates its efforts to understand your "business need" and accordingly maps available research data to help you move forward. Call "your" client engagement executive any time of your day and get your questions answered in order to make the correct business decision.
    Saving Time and Efforts
    Simply share your research requirement details with us and let us do all the hard work to find required intelligence for you. When you add up our "one stop solution" and "dedicated client engagement" services mentioned above, you obviously know the time and effort saving you do by working with us.
    Payment Flexibility
    Working with Fortune 500 organizations, we understand the importance of being flexible for payments. Share your payment terms with us and we will surely match up to them to ensure you get access to required business intelligence data without having to wait for the payment to be done.
    Post-Purchase Research Support
    Have questions after reading a report / datasheet bought through us? Not sure about the methodology used for data available in the research? Talk to us / Share your questions with us and if required, we will connect you with the analyst(s)/author(s) of the report(s) and ensure you get satisfactory answers for the same. Need more data / analysis / report(s) on the topic of your research/project? The RnRMarketResearch.com team is here for you 24X7 to support you with your post-purchase requirements. Subscription Offers & Packages (Get in touch with us for more details - [email protected] / +1 888 391 5441 )
    • Ad Hoc
    • Pay - as - you - go / Bucket Subscriptions
    • Fixed Cost for #of reports
    • Customize / Personalize as per your needs