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.
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. This report contains market size and forecasts of BFSI IT in global, including the following market information:
Global BFSI IT Market Revenue, 2018-2023, 2024-2032, ($ millions)
Global top five companies in 2022 (%)
The global BFSI IT market was valued at US$ million in 2022 and is projected to reach US$ million by 2029, at a CAGR of % during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
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.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the BFSI IT companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global BFSI IT Market, by Type, 2018-2023, 2024-2032 ($ millions)
Global BFSI IT Market Segment Percentages, by Type, 2022 (%)
ECM
CRM
HCM
ERP
Artificial Intelligence
Business Intelligence
Unified Communications
Global BFSI IT Market, by Application, 2018-2023, 2024-2032 ($ millions)
Global BFSI IT Market Segment Percentages, by Application, 2022 (%)
Commercial Banks
Insurance Companies
Non-Banking Financial Companies
Cooperatives
Others
Global BFSI IT Market, By Region and Country, 2018-2023, 2024-2032 ($ Millions)
Global BFSI IT Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies BFSI IT revenues in global market, 2018-2023 (estimated), ($ millions)
Key companies BFSI IT revenues share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
IBM
Microsoft
Accenture
Micro Focus
SAP
Cognizant
Outline of Major Chapters:
Chapter 1: Introduces the definition of BFSI IT, market overview.
Chapter 2: Global BFSI IT market size in revenue.
Chapter 3: Detailed analysis of BFSI IT company competitive landscape, revenue and 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: Sales of BFSI IT in regional level and country level. 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 of each country in the world.
Chapter 7: 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 8: The main points and conclusions of the report.
TABLE OF CONTENTS
1 Introduction to Research & Analysis Reports
1.1 BFSI IT Market Definition
1.2 Market Segments
1.2.1 Market by Type
1.2.2 Market by Application
1.3 Global BFSI IT Market Overview
1.4 Features & Benefits of This Report
1.5 Methodology & Sources of Information
1.5.1 Research Methodology
1.5.2 Research Process
1.5.3 Base Year
1.5.4 Report Assumptions & Caveats
2 Global BFSI IT Overall Market Size
2.1 Global BFSI IT Market Size: 2022 VS 2032
2.2 Global BFSI IT Market Size, Prospects & Forecasts: 2018-2032
2.3 Key Market Trends, Opportunity, Drivers and Restraints
2.3.1 Market Opportunities & Trends
2.3.2 Market Drivers
2.3.3 Market Restraints
3 Company Landscape
3.1 Top BFSI IT Players in Global Market
3.2 Top Global BFSI IT Companies Ranked by Revenue
3.3 Global BFSI IT Revenue by Companies
3.4 Top 3 and Top 5 BFSI IT Companies in Global Market, by Revenue in 2022
3.5 Global Companies BFSI IT Product Type
3.6 Tier 1, Tier 2 and Tier 3 BFSI IT Players in Global Market
3.6.1 List of Global Tier 1 BFSI IT Companies
3.6.2 List of Global Tier 2 and Tier 3 BFSI IT Companies
4 Market Sights by Product
4.1 Overview
4.1.1 By Type - Global BFSI IT Market Size Markets, 2022 & 2032
4.1.2 ECM
4.1.3 CRM
4.1.4 HCM
4.1.5 ERP
4.1.6 Artificial Intelligence
4.1.7 Business Intelligence
4.1.8 Unified Communications
4.2 By Type - Global BFSI IT Revenue & Forecasts
4.2.1 By Type - Global BFSI IT Revenue, 2018-2023
4.2.2 By Type - Global BFSI IT Revenue, 2024-2032
4.2.3 By Type - Global BFSI IT Revenue Market Share, 2018-2032
5 Sights by Application
5.1 Overview
5.1.1 By Application - Global BFSI IT Market Size, 2022 & 2032
5.1.2 Commercial Banks
5.1.3 Insurance Companies
5.1.4 Non-Banking Financial Companies
5.1.5 Cooperatives
5.1.6 Others
5.2 By Application - Global BFSI IT Revenue & Forecasts
5.2.1 By Application - Global BFSI IT Revenue, 2018-2023
5.2.2 By Application - Global BFSI IT Revenue, 2024-2032
5.2.3 By Application - Global BFSI IT Revenue Market Share, 2018-2032
6 Sights by Region
6.1 By Region - Global BFSI IT Market Size, 2022 & 2032
6.2 By Region - Global BFSI IT Revenue & Forecasts
6.2.1 By Region - Global BFSI IT Revenue, 2018-2023
6.2.2 By Region - Global BFSI IT Revenue, 2024-2032
6.2.3 By Region - Global BFSI IT Revenue Market Share, 2018-2032
6.3 North America
6.3.1 By Country - North America BFSI IT Revenue, 2018-2032
6.3.2 US BFSI IT Market Size, 2018-2032
6.3.3 Canada BFSI IT Market Size, 2018-2032
6.3.4 Mexico BFSI IT Market Size, 2018-2032
6.4 Europe
6.4.1 By Country - Europe BFSI IT Revenue, 2018-2032
6.4.2 Germany BFSI IT Market Size, 2018-2032
6.4.3 France BFSI IT Market Size, 2018-2032
6.4.4 U.K. BFSI IT Market Size, 2018-2032
6.4.5 Italy BFSI IT Market Size, 2018-2032
6.4.6 Russia BFSI IT Market Size, 2018-2032
6.4.7 Nordic Countries BFSI IT Market Size, 2018-2032
6.4.8 Benelux BFSI IT Market Size, 2018-2032
6.5 Asia
6.5.1 By Region - Asia BFSI IT Revenue, 2018-2032
6.5.2 China BFSI IT Market Size, 2018-2032
6.5.3 Japan BFSI IT Market Size, 2018-2032
6.5.4 South Korea BFSI IT Market Size, 2018-2032
6.5.5 Southeast Asia BFSI IT Market Size, 2018-2032
6.5.6 India BFSI IT Market Size, 2018-2032
6.6 South America
6.6.1 By Country - South America BFSI IT Revenue, 2018-2032
6.6.2 Brazil BFSI IT Market Size, 2018-2032
6.6.3 Argentina BFSI IT Market Size, 2018-2032
6.7 Middle East & Africa
6.7.1 By Country - Middle East & Africa BFSI IT Revenue, 2018-2032
6.7.2 Turkey BFSI IT Market Size, 2018-2032
6.7.3 Israel BFSI IT Market Size, 2018-2032
6.7.4 Saudi Arabia BFSI IT Market Size, 2018-2032
6.7.5 UAE BFSI IT Market Size, 2018-2032
7 BFSI IT Companies Profiles
7.1 IBM
7.1.1 IBM Company Summary
7.1.2 IBM Business Overview
7.1.3 IBM BFSI IT Major Product Offerings
7.1.4 IBM BFSI IT Revenue in Global Market (2018-2023)
7.1.5 IBM Key News & Latest Developments
7.2 Microsoft
7.2.1 Microsoft Company Summary
7.2.2 Microsoft Business Overview
7.2.3 Microsoft BFSI IT Major Product Offerings
7.2.4 Microsoft BFSI IT Revenue in Global Market (2018-2023)
7.2.5 Microsoft Key News & Latest Developments
7.3 Accenture
7.3.1 Accenture Company Summary
7.3.2 Accenture Business Overview
7.3.3 Accenture BFSI IT Major Product Offerings
7.3.4 Accenture BFSI IT Revenue in Global Market (2018-2023)
7.3.5 Accenture Key News & Latest Developments
7.4 Micro Focus
7.4.1 Micro Focus Company Summary
7.4.2 Micro Focus Business Overview
7.4.3 Micro Focus BFSI IT Major Product Offerings
7.4.4 Micro Focus BFSI IT Revenue in Global Market (2018-2023)
7.4.5 Micro Focus Key News & Latest Developments
7.5 SAP
7.5.1 SAP Company Summary
7.5.2 SAP Business Overview
7.5.3 SAP BFSI IT Major Product Offerings
7.5.4 SAP BFSI IT Revenue in Global Market (2018-2023)
7.5.5 SAP Key News & Latest Developments
7.6 Cognizant
7.6.1 Cognizant Company Summary
7.6.2 Cognizant Business Overview
7.6.3 Cognizant BFSI IT Major Product Offerings
7.6.4 Cognizant BFSI IT Revenue in Global Market (2018-2023)
7.6.5 Cognizant Key News & Latest Developments
8 Conclusion
9 Appendix
9.1 Note
9.2 Examples of Clients
9.3 Disclaimer
LIST OF TABLES & FIGURES
List of Tables
Table 1. BFSI IT Market Opportunities & Trends in Global Market
Table 2. BFSI IT Market Drivers in Global Market
Table 3. BFSI IT Market Restraints in Global Market
Table 4. Key Players of BFSI IT in Global Market
Table 5. Top BFSI IT Players in Global Market, Ranking by Revenue (2022)
Table 6. Global BFSI IT Revenue by Companies, (US$, Mn), 2018-2023
Table 7. Global BFSI IT Revenue Share by Companies, 2018-2023
Table 8. Global Companies BFSI IT Product Type
Table 9. List of Global Tier 1 BFSI IT Companies, Revenue (US$, Mn) in 2022 and Market Share
Table 10. List of Global Tier 2 and Tier 3 BFSI IT Companies, Revenue (US$, Mn) in 2022 and Market Share
Table 11. By Type ? Global BFSI IT Revenue, (US$, Mn), 2022 & 2032
Table 12. By Type - BFSI IT Revenue in Global (US$, Mn), 2018-2023
Table 13. By Type - BFSI IT Revenue in Global (US$, Mn), 2024-2032
Table 14. By Application ? Global BFSI IT Revenue, (US$, Mn), 2022 & 2032
Table 15. By Application - BFSI IT Revenue in Global (US$, Mn), 2018-2023
Table 16. By Application - BFSI IT Revenue in Global (US$, Mn), 2024-2032
Table 17. By Region ? Global BFSI IT Revenue, (US$, Mn), 2022 & 2032
Table 18. By Region - Global BFSI IT Revenue (US$, Mn), 2018-2023
Table 19. By Region - Global BFSI IT Revenue (US$, Mn), 2024-2032
Table 20. By Country - North America BFSI IT Revenue, (US$, Mn), 2018-2023
Table 21. By Country - North America BFSI IT Revenue, (US$, Mn), 2024-2032
Table 22. By Country - Europe BFSI IT Revenue, (US$, Mn), 2018-2023
Table 23. By Country - Europe BFSI IT Revenue, (US$, Mn), 2024-2032
Table 24. By Region - Asia BFSI IT Revenue, (US$, Mn), 2018-2023
Table 25. By Region - Asia BFSI IT Revenue, (US$, Mn), 2024-2032
Table 26. By Country - South America BFSI IT Revenue, (US$, Mn), 2018-2023
Table 27. By Country - South America BFSI IT Revenue, (US$, Mn), 2024-2032
Table 28. By Country - Middle East & Africa BFSI IT Revenue, (US$, Mn), 2018-2023
Table 29. By Country - Middle East & Africa BFSI IT Revenue, (US$, Mn), 2024-2032
Table 30. IBM Company Summary
Table 31. IBM BFSI IT Product Offerings
Table 32. IBM BFSI IT Revenue (US$, Mn) & (2018-2023)
Table 33. IBM Key News & Latest Developments
Table 34. Microsoft Company Summary
Table 35. Microsoft BFSI IT Product Offerings
Table 36. Microsoft BFSI IT Revenue (US$, Mn) & (2018-2023)
Table 37. Microsoft Key News & Latest Developments
Table 38. Accenture Company Summary
Table 39. Accenture BFSI IT Product Offerings
Table 40. Accenture BFSI IT Revenue (US$, Mn) & (2018-2023)
Table 41. Accenture Key News & Latest Developments
Table 42. Micro Focus Company Summary
Table 43. Micro Focus BFSI IT Product Offerings
Table 44. Micro Focus BFSI IT Revenue (US$, Mn) & (2018-2023)
Table 45. Micro Focus Key News & Latest Developments
Table 46. SAP Company Summary
Table 47. SAP BFSI IT Product Offerings
Table 48. SAP BFSI IT Revenue (US$, Mn) & (2018-2023)
Table 49. SAP Key News & Latest Developments
Table 50. Cognizant Company Summary
Table 51. Cognizant BFSI IT Product Offerings
Table 52. Cognizant BFSI IT Revenue (US$, Mn) & (2018-2023)
Table 53. Cognizant Key News & Latest Developments
List of Figures
Figure 1. BFSI IT Segment by Type in 2022
Figure 2. BFSI IT Segment by Application in 2022
Figure 3. Global BFSI IT Market Overview: 2022
Figure 4. Key Caveats
Figure 5. Global BFSI IT Market Size: 2022 VS 2032 (US$, Mn)
Figure 6. Global BFSI IT Revenue, 2018-2032 (US$, Mn)
Figure 7. The Top 3 and 5 Players Market Share by BFSI IT Revenue in 2022
Figure 8. By Type - Global BFSI IT Revenue Market Share, 2018-2032
Figure 9. By Application - Global BFSI IT Revenue Market Share, 2018-2032
Figure 10. By Type - Global BFSI IT Revenue, (US$, Mn), 2022 & 2032
Figure 11. By Type - Global BFSI IT Revenue Market Share, 2018-2032
Figure 12. By Application - Global BFSI IT Revenue, (US$, Mn), 2022 & 2032
Figure 13. By Application - Global BFSI IT Revenue Market Share, 2018-2032
Figure 14. By Region - Global BFSI IT Revenue Market Share, 2018-2032
Figure 15. By Country - North America BFSI IT Revenue Market Share, 2018-2032
Figure 16. US BFSI IT Revenue, (US$, Mn), 2018-2032
Figure 17. Canada BFSI IT Revenue, (US$, Mn), 2018-2032
Figure 18. Mexico BFSI IT Revenue, (US$, Mn), 2018-2032
Figure 19. By Country - Europe BFSI IT Revenue Market Share, 2018-2032
Figure 20. Germany BFSI IT Revenue, (US$, Mn), 2018-2032
Figure 21. France BFSI IT Revenue, (US$, Mn), 2018-2032
Figure 22. U.K. BFSI IT Revenue, (US$, Mn), 2018-2032
Figure 23. Italy BFSI IT Revenue, (US$, Mn), 2018-2032
Figure 24. Russia BFSI IT Revenue, (US$, Mn), 2018-2032
Figure 25. Nordic Countries BFSI IT Revenue, (US$, Mn), 2018-2032
Figure 26. Benelux BFSI IT Revenue, (US$, Mn), 2018-2032
Figure 27. By Region - Asia BFSI IT Revenue Market Share, 2018-2032
Figure 28. China BFSI IT Revenue, (US$, Mn), 2018-2032
Figure 29. Japan BFSI IT Revenue, (US$, Mn), 2018-2032
Figure 30. South Korea BFSI IT Revenue, (US$, Mn), 2018-2032
Figure 31. Southeast Asia BFSI IT Revenue, (US$, Mn), 2018-2032
Figure 32. India BFSI IT Revenue, (US$, Mn), 2018-2032
Figure 33. By Country - South America BFSI IT Revenue Market Share, 2018-2032
Figure 34. Brazil BFSI IT Revenue, (US$, Mn), 2018-2032
Figure 35. Argentina BFSI IT Revenue, (US$, Mn), 2018-2032
Figure 36. By Country - Middle East & Africa BFSI IT Revenue Market Share, 2018-2032
Figure 37. Turkey BFSI IT Revenue, (US$, Mn), 2018-2032
Figure 38. Israel BFSI IT Revenue, (US$, Mn), 2018-2032
Figure 39. Saudi Arabia BFSI IT Revenue, (US$, Mn), 2018-2032
Figure 40. UAE BFSI IT Revenue, (US$, Mn), 2018-2032
Figure 41. IBM BFSI IT Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 42. Microsoft BFSI IT Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 43. Accenture BFSI IT Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 44. Micro Focus BFSI IT Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 45. SAP BFSI IT Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 46. Cognizant BFSI IT Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
