Data Analytics in Banking Market Outlook 2027 By Deployment Type, Size, Share, Trends, Technology
According to TechSci Research, Global data analytics in banking market is expected to grow at a significant rate in the forecast period. Data analytics is the study of data to further interpret and process it to convert it into meaningful insights for making smart decisions. The role of data analytics can be crucial for the bank as it helps in gaining insights to make smart decisions at the right time. Data analytics can optimize the workflow as well as the functional areas including NPA, risk, compliance, fraud monitoring and can efficiently calculate the value at risk to ensure higher performance at work. The use of data analytics technology in banking institutions can help to make an informed decision to drive the organizations forward and increase the returns obtained to achieve the business goals. The advanced analytics technology aids the banks to witness improvements in all their daily activities. Data analytics in banking can provide the banks with important profile details about the customer along with transactional and trading analytics information. It can also improve the retention and acquisition of clients as well as cross and upselling. The use of data analytics technology can widely improve the efficiency and performance of banking institutions and can enhance the consumer experience by providing them with the necessary assistance.
Global data analytics in banking market is segmented into deployment type, type, solution, application, regional distribution, and company. Based on regional analysis, Asia-pacific is expected to witness the fastest incremental growth in the forecast period, 2023-2027. The growing adoption of digitization in banking intuitions and the increase in the number of banks in developing countries are boosting market growth. Technological advancements of the banking infrastructure and higher internet penetration are contributing significantly to the market growth.
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The major players operating in the global data analytics in banking market are IBM Corporation, SAP SE, Oracle Corporation, Microsoft Corporation, Google LLC, Amazon Web Services, Inc., TIBCO Software, Inc., Hewlett Packard Enterprise Co., SiSense, Inc., Mu Sigma, Inc., Dell, Inc., Alteryx Inc., Teradata Corporation, Wipro Ltd., SAS Institute, Inc., among others. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.
- To analyze the historical growth of the market size of global data analytics in banking market from 2017 to 2020.
- To estimate and forecast the market size of global data analytics in banking market from 2021 to 2027 and growth rate until 2027.
- To classify and forecast global data analytics in banking market based on deployment type, type, solution, end user, regional distribution, and company.
- To identify dominant region or segment in the global data analytics in banking.
- To identify drivers and challenges for global data analytics in banking market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global data analytics in banking market.
- To identify and analyze the profile of leading players operating in global data analytics in banking market.
- To identify key sustainable strategies adopted by market players in global data analytics in banking market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the service providers, distribution channels and presence of all major players across the globe.
TechSci Research calculated the market size of global data analytics in banking market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Data Analytics in Banking service provider companies
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances related to data analytics in banking market
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Attribute | Details |
Base Year | 2021 |
Historical Data | 2017 – 2020 |
Estimated Year | 2022 |
Forecast Period | 2023 – 2027 |
Quantitative Units | Revenue in USD Million and CAGR for 2017-2021 and 2022E-2027F |
Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments covered | · Type · Solution · Application |
Regional scope | North America; Europe; Asia Pacific; South America; Middle East & Africa |
Country scope | United States, Mexico, Canada, China, India, Japan, South Korea, Australia, Germany, France, United Kingdom, Spain, Italy, South Africa, UAE, Saudi Arabia, Brazil, Argentina, Colombia |
Key companies profiled | IBM Corporation, SAP SE, Oracle Corporation, Microsoft Corporation, Google LLC, Amazon Web Services, Inc., TIBCO Software, Inc., Hewlett Packard Enterprise Co., SiSense, Inc., Mu Sigma, Inc., Dell, Inc., Alteryx Inc., Teradata Corporation, Wipro Ltd., SAS Institute, Inc. |
Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Report Scope:
In this report, global data analytics in banking market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
· Global Data Analytics in Banking Market, By Deployment Type:
- On-Premises
- Cloud
- Global Data Analytics in Banking Market, By Type:
- Descriptive Analytics
- Diagnostic Analytics
- Predictive Analytics
- Prescriptive Analytics
- Global Data Analytics in Banking Market, By Solution:
- Risk Management
- Credit Risk Assessment
- Fraud Detection and Management
- Stress Testing
- Others
- Customer Analytics
- Portfolio Management Analytics
- Trading Analytics
- Global Data Analytics in Banking Market, By Application:
- Sell Side Firms
- Commercial & Corporate Banks
- Investment Banks
- Stock Broking Firms
- Others
- Buy Side Firms
- Asset Managers
- Hedge Funds
- Wealth Managers
- Family Offices
- Others
- Global Data Analytics in Banking Market, By Region:
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Europe
- United Kingdom
- Italy
- France
- Germany
- Spain
- North America
- United States
- Mexico
- Canada
- South America
§ Brazil
§ Argentina
§ Colombia
o Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global data analytics in banking market.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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