Global financial services application market is projected to grow at a CAGR of over 8% during the
forecast period, on account of urgent need for automating quantified data.
Financial services are the services offered by finance industry comprising
businesses that manage money. With rapid globalization, there is demand for
providing risk-free, compliant and data driven application and software to end
users, which in turn is expected to drive global financial services application
market through 2024. Financial institutions and banks have introduced online
solutions and other services like online transfers and person to person
payment, thereby boosting the financial services application market. Moreover,
emergence of digital channel for banking is anticipated to positively influence
global financial services application market during the forecast period.
Financial
services application market can be segmented based on product, deployment, enterprise
size and region. Based on product, the market can be bifurcated into software
and services. The software segment can be further segmented into audit, risk
and compliance management, BI & analytics applications, business
transaction processing, customer experience and enterprise IT. Business
intelligence & analytics application is expected to be one of the leading
segments in the financial services application market, as it provides
comprehensive business information and insights that can be used to take smart
decisions. Moreover, it helps to improve operational efficiency and provides personalized
services.
Financial services application is
gaining traction and expanding to various regions including Asia-Pacific, North
America, Europe, South America and the Middle East & Africa. Owing to the
early adoption of technologies such as artificial intelligence, North America
is expected to acquire the majority share in global financial services
application market during the forecast period.
Major players operating in global financial
services application market include Accenture Plc., IBM
Corp., Fiserv Inc., SAP SE, Tata Consultancy Services Ltd., Infosys Ltd., Oracle
Corp. and FIS Corp. Major companies are developing advanced technologies
and launching new products in order to stay competitive in the market. Other
competitive strategies include mergers & acquisitions and new product
developments. In 2018, Accenture entered into an agreement with financial
service software company Zafin to serve as the preferred integrator as part of a
go-to market strategy.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the
Study:
- To analyze and forecast global financial
services application market size.
- To classify and forecast global financial
services application market based on product, deployment, enterprise
size and regional distribution.
- To identify drivers and challenges for global financial
services application market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in global
financial services application market.
- To conduct the pricing analysis for global
financial services application market.
- To identify and analyze the profile of leading
players operating in global financial services application market.
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Some of the leading players in global financial
services application market include
Accenture Plc., IBM Corp., Fiserv Inc., SAP SE, Tata Consultancy Services Ltd.,
Infosys Ltd., Oracle Corp. and FIS Corp.
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 which
could not be identified due to the limitations of secondary research. TechSci
Research analyzed the service offerings, distribution channels and presence of all
major service providers across the globe.
TechSci Research calculated global financial services application
market size using a bottom-up approach, where
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:
- Financial application
providers and service providers
- Research organizations and
consulting companies
- Government bodies such as
regulating authorities and policy makers
- Organizations, forums and
alliances related to financial application
The study is useful in providing answers
to several critical questions that are important for industry stakeholders such
as service providers and partners, end users, etc., besides allowing them in
strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global financial
services application market has been segmented into following categories,
in addition to the industry trends which have also been detailed below:
- Market, by Product:
- Software
- Audit, Risk, & Compliance Management
- Business Intelligence & Analytics Applications
- Business Transaction Processing
- Customer Experience
- Enterprise IT
- Services
- Market, by Deployment:
- Market, by Enterprise Size:
- Market, by Region:
- North America
- United States
- Mexico
- Canada
- Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Qatar
- South America
- Brazil
- Argentina
- Colombia
Competitive Landscape
Company Profiles: Detailed analysis of the major
companies present in global financial services application market.
Available
Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market
players (up to five).
In case you don’t find what you are
looking for, please get in touch with our custom research team at sales@techsciresearch.com
It is an upcoming report to
be released soon. If you wish an early delivery of this report or want to
confirm the date of release, please contact us at sales@techsciresearch.com