BFSI - Enterprise ICT

BFSI - Enterprise ICT

Summary

The BFSI Enterprise ICT Country Intelligence Report, a new Vertical Intelligence Report by GlobalData, summarizes key findings from GlobalData’s ICT Customer Insight Survey carried out in H1-2024 and GlobalData’s Market Opportunity Forecasts to 2028: Retail Bankin, Financial Markets and Insurance. It reveals an executive-level overview of how the overall ICT budgets and their allocations towards various segments have changed for enterprises in the vertical in 2024 compared to 2023 and ICT revenue opportunity with detailed forecasts of key indicators up to 2028. The report provides detailed analysis of the overall BFSI enterprise ICT market trends and growth drivers based on GlobalData’s ICT Customer Insight Survey and GlobalData’s Market Opportunity Forecasts. The report also discusses about the market growth inhibitors impacting BFSI overall ICT market. It sheds focus on enterprise ICT budget allocations and ICT revenue opportunity covering 18 solution areas, segmental analysis, and regional analysis. The report also includes a brief profile on some of the key ICT vendors within the BFSI vertical.

The vertical intelligence provides information and insights into ICT budget allocations and ICT revenue opportunity by enterprises in BFSI vertical

• Overall enterprise ICT revenue opportunity and ICT budget allocations for BFSI
• Insights on retail enterprise ICT growth drivers and market trends, basis GlobalData's ICT Customer Insight Survey and Market Oppotunity Forecasts to 2028
• Insights on market growth inhibitors impacting manufacturing's overall ICT market
• Breakdown of enterprise ICT revenue opportunity by solution areas, segments and regions
• Segmental analysis of manufacturing enterprise ICT budget allocations and ICT revenue opportunity - hardware, software and services
• Insights on ICT technology spending priorities of enterprises on key solution areas in BFSI
• Company snapshot

• The total ICT revenue opportunity in the BFSI vertical is expected to rise from over $580 billion in 2023 to over $948 billion by 2028 driven by increasing ICT budgets and fueled by the demand for advanced technologies to enhance security, efficiency, and customer experience.
• These findings have been corroborated by GlobalData’s ICT survey in which more than 85% have stated their ICT budgets have increased in 2024 as compared to 2023.
• In terms of ICT revenue opportunity in the retail vertical by IT infrastructure, IT services held the highest share in 2023 followed by IT software and IT hardware. However, revenue opportunity in IT software is expected to grow at the fastest pace during 2023-2028.
• North America, Asia-Pacific, and Western Europe are top three regional markets for ICT in the BFSI vertical.
• Investments in AI are expected to grow at the fastest pace during 2023-2028, followed by edge computing and cloud computing. These technologies enable BFSI to improve operational efficiency and offer better customer service.

• The vertical intelligence report provides an in-depth analysis of the following enterprise ICT market outlook, enterprise ICT budget allocations, enterprise ICT segment revenue and budget allocations, enterprise ICT market dynamics, enterprise technology priorities and ICT vendor landscape.

• This Vertical Intelligence Report is based on GlobalData’s IT Customer Insight Survey carried out annually covering key ICT decision makers from enterprises across various industry verticals in BFSI and GlobalData’s Market Opportunity Forecasts to 2028, to offer a thorough, forward-looking analysis of BFSI enterprise ICT investment priorities and ICT revenue opportunity market.
• Accompanying GlobalData’s IT Customer Insight Survey and Market Opportunity Forecasts to 2028, the report examines the assumptions and drivers behind ongoing and upcoming trends in BFSI enterprise ICT market.
• The report offers a thorough analysis of enterprise ICT investment trends and how it has changed this year compared to previous year.
• The report also presents an analysis of enterprise ICT budget allocations by various spending areas, business functions and product/service categories and how they have changed this year compared to previous years.
• The report also presents an analysis of enterprise ICT revenue opportunity by various solution areas, regions, and segment over the forecast period 2023-2028.
• With more than 50 charts and tables, the report is designed for an executive-level audience, boasting presentation quality.
• The report provides insights in a concise format to help executives build proactive and profitable growth strategies.
• The report provides an easily digestible market assessment for decision-makers built around research gathered from the local IT decision makers, which enables executives to quickly get up to speed with the current and emerging trends in enterprise ICT investment priorities.